People on this website are saying that its getting late in the process...
My Ivy's OCR resume drop deadlines are all this week and 1st round interview sign-ups aren't until early February.
How does this work? If I am a mediocre student at an Ivy, am I at a huge disadvantage applying this late?
you go to a target and have OCR?
yeah, things fucked up bro. sorry. were you sleeping all this time?
Let me be clearer, sorry. The deadlines are all this week and I've applied to them. Now I'm waiting to hear back on interviews as is the rest of my school.
But people on this site are saying that recruiting is over for most banks. In my mind as well as everyone here, interviews haven't started! Whats the deal?
OCR is a different timeline than the general pool. No need to worry - that is, unless you haven't done much networking...
Haven't done an insane amount, but have talked to quite a few people. The thing is it usually is the same generic questions that get answered with answers I can now recite from the back of my hand (What got you into banking, How are the people at Bank X, What makes a successful analyst, How to stand out in the recruiting process). Then it usually ends with a sincere thank you from me, a thank you email sent to them, and probably never hearing from them again. I've asked once or twice can you introduce me to someone else at the firm, but they usually get caught off guard and say I'll get back to you. Lets be real, these are young analysts and dont want to bother anybody with forcing to speak to a kid that wants a job...The only people that actually have given me someone else to talk to are friends I have at the bank. How are you supposed to successfully network with strangers to increase your odds?
Also, with an okay resume (not stellar) and no contacts at the firm (at least not until after an interview occurs), can OCR at a top target end up successful?
I am currently going through recruiting as well. I go to UNC and many of the BBs have already came so right now it's just boutiques. It is not entirely too late since they are just now coming to your school but it is important to always continue networking.
I currently work a BB and can tell you that as far as first year analyst recruiting going for OCR that happens early in the fall, we already have our Summer 2014 analyst class selected. Additionally most first year analyst positions are filled with interns from the previous summer, so you intern summer after JR year, do well and get a full- time offer. I would recommend applying directly on companies websites in addition to applying through your school. Look for full- time openings. If you miss the boat for analyst recruiting it isn't impossible to get a front office job, you just have to look for an opening where maybe they missed filling it during the recruiting process. I am currently interviewing at another BB bank for a FO sales assistant role, you just have to find a job you want and apply. As far as IBD analyst jobs I have not seen many of them posted randomly, or if they are, they expect 1-2 years experience as an analyst somewhere else. Much easier to find jobs in Finance, Research, or Sales/ Trading outside of the official "recruiting process."
One other comment I would make is a boutique firm may be better if you are looking to gain more responsibilities quicker, have less boundaries when it comes to advancement & lateral movement, and the general learning process & experience you will get out of work. BB banks are good for resumes, but you get lost in the numbers eventually within the firm, unless you are a huge standout. Pay should be the same regardless of the firm if the positions are similar, and a boutique firm will probably have better hours. Finally after speaking with numerous ED's MD's and people with years of experience (20+ for most) in order to really move up in a firm you will be expected to attend graduate school full- time if you want to make a drastic move vertically or horizontally (from sales/ trading to IBD, etc) If you don't have any special experience and plan on attending graduate school FT after 3-5 years of work experience, don't knock opportunities in MO roles, or development programs at other Investment Management firms such as Vanguard. Work hard and plan on attending a top 10 MBA program.
afcpitt, thank you for your response, however what you said was a bit ambiguous. Were you referring to summer analyst positions or FT that your BB has already selected?
I am a junior looking for a SA position. It has to be impossible that you are done with recruiting, because my school's OCR is now and every major firm has postings for IB SA positions. We hear back about interviews in a few days I believe. What I'm confused about is that it seems most people on this website are done with SA recruiting, whereas interviews are only about to begin at my top target...
Don't go to an Ivy and most of our OCR for SA took place in November and early December (includes BB and MM). Many banks have wrapped up their processes, while some are finishing their non-target efforts. IMO, it is a bit strange that banks just now coming on-campus.
Banks reserve spots for schools. A lot of 'targets' don't start interviewing until now-ish.
Just so you all know, I go to Penn/Wharton.
Very strange that arguably the top target gets recruited at last when classes are nearly full.....
The top targets get recruited not when classes are nearly full, they are always guaranteed a certain number of SA spots as targets. Most of the times, these are larger classes than lesser targets.
IB recruitment Timeline (Originally Posted: 02/13/2015)
What exactly is the recruitment timeline for IB internships?
It would seem that the following is correct for internships
(At BB banks)
December: Applications due February: interviews end and offers are given out
(At MM and Boutiques),
Things are much more flexible and less predictable
Are you talking about OCR? It really varies by school. For me (NYU) all first rounds, both BB and boutiques, were end of January and then superdays were within a week typically and you got the offer day of superday. Application deadlines varied.
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