Why do banks take sophomore summer analysts?
To lock up good talent early? I feel like most of them end up not returning anyway (mid tier to top tier or top tier to buyside, etc.)
wouldn’t it make more sense to take more juniors that are able to return full time?
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Do you mean lower mid market banks? Don't think EBs and BBs take sophomores (mine certainly doesn't)
A lot of BBs do
Referring to BBs/EBs, more familiar with BBs but to my knowledge most do (know that GS, MS, BofA, CS do)
GS, MS, JPM does for diverse students (received an offer), BAML, CS, Citi, Barclays, DB, and UBS all have sophomore programs.
Source: I interviewed for all of them except DB and UBS
What’s the harm? Some cheap labor and give some kids a chance to lock up work experience.
Sophomore spots usually only go to top target kids as opposed to say a hard working semi/non target kid.
spots are usually diversity (caveat: includes rich white girls) tho which is good
If you are a bank, wouldn’t you want to focus on top target schools? I mean all else being equal wouldn’t you want the smart kid at the top school?
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