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It's because admissions are rolling...
Rolling admission means there are less and less spots as time goes on but it does NOT mean they will lower the bar for you if you apply on the first day
"If you ain't first you're last"
Probably people from targets saying that recruiting happened at their schools already, still time left
Lots of banks have applications 'open' for months on end but 95% of recruiting happens in the very beginning of that window. Goldman's application opened July 1st and is open through September, but an MD advised me to apply in the first two weeks as they will fill nearly all their spots from that pool.
I'm not sure why they leave applications open for that long if they don't intend to look at the later applicants. Could be if the first round of people is bad they can continue to look for more people, or if there is someone with a connection that doesn't apply until a little later, I have no idea.
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