Probably getting screwed for BB group placement. What now?
I am an incoming 2021 SA at a BB. Group placements are supposed to come out soon. I am fairly certain that despite talking to 40 people across 4 groups during the process I will not place into any of those 4 and will likely get a group I am not interested in.
When should I start recruiting for full time? Would it look bad to start reaching out to other banks as soon as the internship starts? Thanks in advance.
Your focus should be on converting the internship first. Then, you'll have a full year to focus on lateraling.
Won't FT recruiting be wrapped up by the time the internship is over? I also am not too concerned about securing a FT offer. I did a SA in IB at a reputable MM last summer and secured a return and have been told that 90% of interns receive returns at my banks.
Work hard to get the return offer. A lot of banks let people switch groups if they've been given a return offer - if so, try and do that. If that's not an option you can always try FT recruiting, but in my experience that's a shit show, but that may have been because of the Covid hiring freeze
Technically the return offer is a generalist offer, but I imagine that the selective groups will not have spots open.
I assume Barclays? Its p easy to switch groups from SA to FT
Unless the BB you're at offers zero mobility, I think given COVID, WFH, etc, there's going to be a large number of turnovers in groups so you may have a shot at working FT in a different group than you're placed. Don't give up yet.
OP, relax. Convert to FT and then you will easily be able to lateral after 1 year. Or, just leverage your SA experience to a different BB/EB. Just be glad you landed an FO SA during one of the hardest recruiting years in history.
Why was this year the hardest? I thought banks were increasing hiring because of turnover, increased deal flow etc
interested as well
SA 2022 was most certainly not one of the hardest, but this commenter is referring to SA 2021 which was pretty bad.
feeling the same way....is this BARC/Citi/BAML by chance....?
Yes, one of those
see u on zoom tmrw lol
yeah i bet a lot of ppl will but im gonna see what it’s like
it's over. Your entire 30+ year career is over. There is absolutely no way to bounce back from this sorry man
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