How to best position myself for FT recruiting now?
Current junior doing my IB SA at a WF/RBC/UBS type bank. I don't want to return to this bank FT- I don't love the team I was placed on, don't like the city, and I feel like I can do better.
I want to recruit FT for either a better IB job or potentially a buyside job (ie MM PE analyst role). I'm currently sitting on my ass after finishing up school and want to get a jump on things, but I'm having a hard time thinking about the best ways to prepare for the recruiting process.
Lots of people on here have just been recommending preparing for SA positions, but I think that seems like a waste. I've had a bunch of convos with people on my team and so far seems like I get along well with everyone, and a VP I spoke to basically said as long as I don't screw up this summer, I have a return (group has historically 95%+ offer rates). I'm pretty confident in my ability to get the return so I think spending time prepping is kind of a waste.
Is it going to come across as weird to network right now? I haven't done much networking at most of the places I'm eyeing, but I feel like it could be interpreted the wrong way to network in the midst of Covid-19. Furthermore, obviously I don't want my SA bank to get wind of this, as it could jeopardize my chances of a return. Even though I don't want to go back, I would like the return offer as insurance in case FT recruiting doesn't work out, and I heard it is a helpful token to have for FT recruiting. How would current bankers react to someone networking right now (given the pandemic)? Covid aside, when is the appropriate time to network for FT recruiting without messing with my SA position?
Aside from just basic interview prep (I've been brushing up on my SA technicals), anyone else have any tips for best positioning myself for FT recruiting considering I have more free time now then I will ever have again? I've been browsing my school's job board and LinkedIn a lot, but not much is posted yet for FT recruiting and I think its reasonable to expect it won't be posted until after internships end and companies figure out wtf is going on with the world.
Curious as well
I'm also faced with this quandary -- to me, it seems wise to network now, but some people have warned me about doing so because "it can get back to my summer firm." I don't quite get this, especially if you're simply reaching out to alums at different departments because you wanna hear about their specific jobs, and what they do and don't like about them. Seems like reasonable DD to perform in case the summer job doesn't work out.
might be worth to reach out to industry specific boutiques
Also as a follow-up- isn't the full time recruiting market going to be ice cold? Places like Moelis/Citi are definitely not going to be hiring, and I expect most other EB/BBs to give kids the benefit of the doubt considering online programs (which means a higher conversion rate than usual) combined with the economic conditions leading to lower head-counts will make it nearly impossible. Do people think FT recruiting for IB is even going to be at all possible?
Also interested in this.
I am in a similar situation at a mid-tier BB and have always strongly considered a lateral move to a top EB after this summer. Curious to know if you guys think the FT process for laterals will be absolutely dead and ruin that opportunity for me. In particular interested in the EVR/MOE/PWPs of the world as well as the top BBs.
Moelis gave all their SAs automatic FT offers, so I assume they will be nearly impossible to lateral into.
I have friends who lateraled to Evercore, GS, MS, and PWP in previous years from SAs at other places so I know it used to be possible, the question is just how Coronavirus is going to impact that. Would love any insight from anyone in the industry what they think it might look like
Yes, seems like FT recruiting will be especially difficult this year, due to what you said about fewer spots available. Which would seem to make advanced networking that much more valuable. Anyone here considering applying for SA jobs if they don't get FT offer (meaning extending your graduate date by a semester or two)?
bump
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