Financial Times Article on On-Cycle Recruitment
Interesting details in here about JP Morgan issuing warnings to its incoming analysts. Curious if people think we'll really see on-cycle get pushed back or fundamentally changed in the coming years.
Based on the most helpful WSO content, there have been discussions about changes in on-cycle recruitment processes. For instance, some banks like Goldman Sachs and JP Morgan have previously adjusted their recruiting timelines, moving away from sophomore-year recruiting and returning to a more traditional junior-year timeline. This shift was seen as a response to the negative effects of overly early recruiting, such as limited data points on candidates and rushed decision-making.
However, while there are calls for fundamental changes, the overall process remains highly competitive and fast-paced. Some firms, like Blackstone, have even explored diversifying their hiring models, focusing more on internal promotions and less on external IB talent. Whether these adjustments will lead to a broader industry shift or just isolated changes remains to be seen.
Sources: Recruitment Set Back To "Normal", Recruitment Set Back To "Normal", WSJ: Goldman, JP Morgan Hit Pause on Intern Recruiting Madness, What will FT Recruiting look like this year?, https://www.wallstreetoasis.com/forum/investment-banking/will-2020-recruiting-ft-and-sa-be-accelerated-or-be-more-relaxed?customgpt=1
Just read it, makes sense for it to get pushed back but again it only takes one. How are people still feeling for the first week of June?
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