Every single person I've networked with, from analyst to group head, thinks that the 16+-month-in-advance recruiting timeline is absolute idiotic. So who's calling the shots? Who's making this happen?
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HR - we've never been consulted on the IB side.
But I understand it. It's a prisoner's dilemma type of situation - if MS unilaterally decides to hold back 6 months, GS and JPM will be on campus charming candidates and getting contracts signed.
Smaller firms or those seen as less desirable wait until a bit later (as they known candidates will renege to GS), but still hire shockingly early.
I think what is needed is a very senior level decision to withhold applications until later in the year (or next year, in some cases). If all the BBs collectively decided to hire for summer 2025 in January, it'd be interesting to see what smaller banks would do.
Interesting. When I went to an EB information session (not CVP, which I know likes going late), the HR person running it said that they open in Jan because "It's not our choice, that's how investment banking is nowadays." Was there any firm that started this trend?
From reading older WSO posts, it seems like apps/interviews for junior summer internships were happening in early junior spring ~10 years ago, so the acceleration of timelines is a relatively new phenomenon. When did this phenomenon start happening?
Bump curious too
I mean it just kinda like keeps moving forward a little bit every year like Oncycle
Heard recently from a senior banker at a on campus info session that 2008 was to blame for the timelines. Going into banking immediately after the crisis wasn't seen as desirable and had a bad rep so banks started to recruit earlier in order to lock up talent before they could interview for other career paths. Banks then realized this practice also worked for hiring prospects away from competitors as well thus creating the situation we are in today.
This is just an anecdote from a student so there is likely other factors I'm missing too.
Tech is going earlier and earlier now, mid-late summer is where they're at right now. I wonder if they're following the same pattern.
It economically has to keep getting shorter also, there’s will be a max point, probably freshman in College
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