Hey guys,
It seems like most FT analysts at banks and asset management firms come from summer internships. I've also seen laterals to the very same firms at the analyst level (with 1-3 years of previous work experience) but very few analysts who started FT straight from school without having done the SA internship. The few I've seen (and know) have come from top-tier targets who have leveraged OCR. Personally as a non-target applicant, my job search has been extremely difficult. I have good credentials, and contacts at firms, but I've been told recently by one particular contact to get FT work experience first (at a non BB/EB or smaller AM firm) as the spots for FT are extremely limited (non existent at certain firms). This makes sense, but I wanted to confirm whether this is the generally accepted notion or whether it's just the opinion of that particular contact. In my network, I've seen lots of movement into MM and smaller funds from boutiques but not as much to BB/EB or top funds (BLK, T Rowe, PIMCO etc.)
Also if you're someone with 10-14 months of finance internship experience, is it possible to qualify for "experienced" recruitment even though you're looking for your first job after earning your degree?
Thanks in advance!
How hard is it to fill a vacant analyst position/"lateral" analyst position?- (Originally Posted: 11/25/2013)
Lets say you're doing an MS in Finance and graduate in May and have missed the rec. cycle...yup it blows..but have pretty good internship experience..would it still be possible to fill an analyst position that isn't within an analyst program? I think its possible at an MM or a boutique, but what about a BB?
It's hard bc even most boutiques recruit on the standard cycle. The best time to do this is in Feb/March when some BBs re-evaluate their analyst needs. If they under-hired, they may seek out some new heads, usually through referrals. Boutiques are harder to predict because they only hire off-cycle if someone quits.
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