Which Banks Recruit Outside of Their Intern Classes? (Or Take Off-Cycle Analysts)
Trying to put together a FT recruiting strategy for primarily non-target students. I come from a great business school, but it is not well recognized yet. As a result, the opportunities for IB internships are virtually non-existent. I know how hard it can be to land an internship, let alone a FT offer. (which I have not successfully done yet).
I am looking to start a thread where people can share their insight on Banks, PE shops, Hedge Funds, and Strategy/Management Consulting firms that recruit outside of their summer analyst/internship programs, recruit off-cycle analysts/interns, or are willing to review applicants from non-target universities. Eventually, I would like to clean the list and organize it so that it may be posted in its entirety for others to use and benefit from. Any information would be appreciated.
It seems to me that anywhere that doesn't have a 100% offer rate to their interns will take you, if you network hard enough and are a strong candidate. Even if a shop hires only from an intern pool, there are also the somewhat transient openings due to people leaving, etc. These all seem to be rarely publicized to its key to have a network that can notify you and plug you in when these openings exist. I have had reasonably decent traction so far in this context.
This can manifest itself in a few ways I have seen. Either a accelerated process to fill the opening or an ongoing "off-cycle" style approach even if it is during regular recruiting times.
Speaking only from my experience this summer and the past year, so I could be totally off-base.
Thanks guys. Unfortunately, the network of bankers from my school is terribly limited. -a couple guys in risk (International student recruits) -two wealthy foreigners in trading (not IBD) -MD at my bank (executive MBA- no help and not how I broke into the bank in the first place) -my childhood friend who just said fuckit and went equity research. -me (unfortunately at a small shop with no growth opportunities)
Any advice for networking as a non-target without an alumni base? Can I just reach out to anyone? It feels gauche
I mean this in the least asshole way possible because I go to a non-target too but bankers WILL NEVER have sympathy for the woe is me non-target complaining. You have to have more confidence than that and think about what you can do. If I were you I'd send out 20 cold emails and look at the FT megathread. Or (honestly) look within other roles in finance since there are a ton of other cool opportunities outside of the FO. I know a few people in investor relations who actually really enjoy their job. Some of these jobs not in FO can still pay 100k+ after 3 or 4 years experience in a cheap COL on 50 hour weeks. Things will work out if you don't give up.
"I tried to go to career services to get info on IB and was handed a pamphlet on northwestern mutual's "top 20 internship program".... Lol
Anyone else read "Aflac" in the duck voice haha
Look outside of NYC, at boutiques, and network harder than you ever have before. Don't make a "guide" or thread here because you will only be making more competition for yourself. Don't be afraid to look at various roles within PWM, AM, Alternatives, etc. Roles at high aum RIA's with low headcount (read: network!). Starting in a sales role might also be good for professional/personal development. Just expand your horizons a bit. If you play your cards right you could be working 35 hour weeks somewhere winterless making 100k+
That's not a bad start to your accumulation phase. Someone asked if you attend "Burger King University"...do you really want to be slaving away next to that guy for 80 hours a week. Just food for thought.
Good Luck