Venting about banks wasting time on BS interviews
Not much will get done, but I wanted to vent here and see if I'm the only person who spends hours talking to a firm, meeting the team, taking a numerous-hour model exam, ad sometimes even having a super day only to be told that the team ultimately did not have the budget or they change the location last minute.
Like, I understand they want to be selective, especially in this macro environment, but please ding me for not knowing my technicals or messing up the model. Please don't waste my time preparing for your numerous interviews, studying for a 2-hour model exam, and then getting dressed up for 6 back-to-back interviews in a super day only to realize you didn't have the budget to hire.
What was even the point? Are teams just trying to flex that they could hire if they wanted to in order to motivate/scare their current juniors into continually working their ass off under the threat that they can easily replace them?
This happened to me. Had multiple rounds, modeling test, and superday and they tell me there is a hiring freeze and no one within the process will receive an offer. Absolutely brutal environment to recruit in
Happens all the time sadly. Nature of the beast. Some of the US BBs are the worst for it.
I get hiring freezes - sadly this comes top down. The worst waste of time is interviewing for laterals without approved headcount.
Our team has a policy of not doing this. It's also a huge waste of time for the bankers who are spending the time. Just wastes everyone's time in a job where time is precious.
Does that even happen? Like why would a team bother to interview without approval? Wouldn't they just get shit from HR for doing that?
Of course it does. The churn of juniors is high. Perhaps less so in 2022 and 2023 given the market. Happens in the run up to bonus time often.
HR have very little power in many banks - they take the direction from front office who hold the P&L. Some HR goon isn't going to tell the head of Europe he can't interview people.
The worst is when headhunters want to eat up 30 mins of your day on some bullshit intro call for an “opportunity” they have, but next thing you know, you never hear from them again…
Agree or they literally have zero understanding of what you do. Someone tried to pitch me on business banking, another misrepresented commercial banking as mid corporate. The issue is there’s no barrier to entry to recruiting and for my industry there are literally 2 reputable recruiters.
A BB thanked me for interviewing with them and then asked me to interview again if they get another opening in the group...I was never interviewed.
I must have made quite the impression.
unfortunately in this environment, it is what is.
Also had a few chats that went silent and even the interviewer straight up said "we haven't figured the org chart out yet, but wanted to have chats with outstanding candidates"
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