BAML MBA Recruiting - 5 Schools

Question

I understand that BAML has decided this year to significantly cut the number of MBA programs that it participates in on-campus recruiting with from 12 to 5.  I heard that HBS, Wharton, Tuck, Fuqua and Stern are the ones that they are retaining.  The reason cited was that they are focused on A2A recruits.  Would love to hear if anyone at these programs (or others) can confirm/deny/add color.

RxGonGivItToYuh · Accepted Answer

I am annoyed because after speaking with dozens of both A2A and MBA bankers (ASO's, VP's, MD's) at MM, EB and BB firms and recruiters both internal and independent, no one can provide me with a solid argument as to why a Tuck MBA with 2 years of Audit experience is more qualified for a BB ASO role than someone with 4 years of experience doing ACTUAL banking work.

reformed · Answer

"Draper Specter and Co."
I am annoyed because after speaking with dozens of both A2A and MBA bankers (ASO's, VP's, MD's) at MM, EB and BB firms and recruiters both internal and independent, no one can provide me with a solid argument as to why a Tuck MBA with 2 years of Audit experience is more qualified for a BB ASO role than someone with 4 years of experience doing ACTUAL banking work.

RxGonGivItToYuh · Answer

I am really glad to see this.  I hope hiring practices at other banks continue to trend in this direction.  It is absolutely ridiculous that BB's and EB's recruit slews of MBA's while only hiring lateral Associates on a one-off basis.  There is a robust pool of trained and blooded candidates from smaller, less prestigious banks whom are much more qualified for Associate/Experienced Analyst banking roles than MBA grads yet have a much harder time landing positions at BB's and EB's.

KOL A · Answer

Well, regardless of your thoughts, the banks have always and will always recruit from elite MBA programs until A2A retention increases. I'm sorry you're annoyed.

To your point regarding the decrease in popularity of banking post-MBA, you're correct. However, the MBB cohort works just as hard as MBA-associates in IBD and those at FANG work ~70 hour work weeks easily. No one is coming out of an elite MBA program working 40 hours a week. If you are, you're the exception and not the norm.

I didn't saddle on this debt to go into a corporate finance rotational program.

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BAML MBA Recruiting - 5 Schools

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