Was hoping others can provide a bit more insight. Seems counter-intuitive to me that banks would wait one year before having you join the firm. Doesn't that make forecasting demand for analysts more difficult than to start hiring, say a few months before graduation? I know in a relatively stable economic environment, not much will happen within a year. But is there another reason banks do this aside from competing for talent?
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Interviewing and on-boarding processes are time consuming so they have to start ahead of time. They know how many people they will lose every year and know how many people they need to add every year, every large corporation bank or not does forecasting like this. Keep in mind they have off cycle hiring for non entry levels if they have to fill in gaps elsewhere.
I find this to be a relief, I am working my best to be hired before next May. This will provide me peace of mind.
Mostly because banks are trying to get people locked into the contract early before they can get poached by someone else or contract cold feet syndrome.
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