Why do bankers ghost so much?
Seriously, why do bankers ghost so much? I've been grinding days and nights for recruiting. I've had a lot of great networking calls, and at the end of some, they explicitly said, "I'll forward your resume to the people in charge of recruiting or if you don't hear back soon, reach back out to me" Yet, when I reached out because I didn't get a first-round, they ended up ghosting me. What's the point of making that statement if you're just going to ghost?
Bankers ghosting is a common frustration in the recruiting process, and there are several reasons why this happens:
Bankers Are Extremely Busy: Investment banking is notorious for its demanding hours. Many bankers are juggling multiple deals, client meetings, and internal responsibilities. Networking and recruiting often fall low on their priority list, even if they initially had good intentions.
Recruiting Is Not Their Main Job: For most bankers, helping with recruiting is an additional task, not their primary responsibility. They may genuinely want to help but get sidetracked by their core work.
Overpromising During Networking Calls: Sometimes, bankers make statements like "I'll forward your resume" or "Reach back out to me" to be polite or encouraging during the call. However, they may not follow through due to time constraints or simply forgetting.
HR and Recruiting Processes Are Separate: Even if a banker forwards your resume, the decision-making process often lies with HR or recruiting teams. Bankers might not have much influence or visibility into the process after they pass your information along.
High Volume of Requests: Bankers, especially senior ones, receive countless networking emails and requests for help. It’s easy for follow-ups to get lost in the flood of communication.
Social Cues and Avoidance: Ghosting can sometimes be a way to avoid delivering bad news. If they know they can’t help or if the process has moved on without you, they might choose silence over confrontation.
How to Handle Ghosting:
As one WSO thread humorously put it, "Maybe the banker was busy, maybe they turned in their two weeks' notice, or maybe they were arrested for murdering another banker with an ax." The point is, there are countless reasons for ghosting, and it’s often out of your control. Keep pushing forward!
Sources: Non-Target Recruiting Guide Part I: Resume and Networking, Non-Target Recruiting Guide Part I: Resume and Networking, Getting ghosted 24/7, Current IBankers: What would you do if a summer candidate reneged another offer to sign with your firm?, Want to get me on the phone? Here's how - a networking overview.
Don’t matter. Just keep grinding and don’t take it personal
A good call doesn't guarantee you a first round. They could have been genuine and you just didn't make the cut.
People are pretty busy and there's nothing to be done often times if you're reaching out after not getting something. If you don't have a prior connection, totally normal to not hear back.
As the above commenter said, just gotta take it on the chin and find the next one.
Having been on both sides of this, sometimes it really is just work picks up so much recruiting falls to the absolute bottom of priorities. It probably isn’t a personal thing, especially after those comments. I have had great chats and then the follow up email comes at just about the worst time and then timelines don’t align. Keep grinding, you will get your offer.
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