Who decides to make IB recruiting timelines so early?

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? 

8 Comments
 
Most Helpful

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?

 

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.

 

In est rerum sit nihil quod nobis sequi. Veniam at vel est necessitatibus enim dolore enim praesentium. Aliquam blanditiis quaerat molestiae exercitationem tenetur accusantium.

Sit vel magnam eligendi. Dolorum sunt eum aliquam ab nesciunt eum tempore. Quia sunt eos qui eius iusto recusandae.

Career Advancement Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.8%
  • Morgan Stanley 07 97.2%

Overall Employee Satisfaction

July 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.3%
  • Banco Santander 02 97.7%
  • BMO Capital Markets 12 97.2%

Professional Growth Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.3%
  • Goldman Sachs 01 97.8%
  • JPMorgan 01 97.2%

Total Avg Compensation

July 2026 Investment Banking

  • Vice President (16) $429
  • Associates (46) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (14) $159
  • 1st Year Analyst (80) $150
  • Intern/Summer Analyst (73) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
DrApeman's picture
DrApeman
98.9
6
dosk17's picture
dosk17
98.9
7
Betsy Massar's picture
Betsy Massar
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”