How does on campus recruiting work?
I was wondering how on campus recruiting works for MBA programs. From what I've read companies will schedule their time slots on campus at the same time as their competitors.Also you have to choose what you want to do pretty early on in the program. What makes investment banking and consulting recruiting so rigorous? Is it possible to target both while in school?
1) The firms come on a certain day. Yes, there'll be other companies interviewing the same day day, but round one interviews are usually 45 to 90 minutes long, so you can do multiple interviews in a day. A few firms (e.g. McKinsey) do longer first round interviews off-campus, but that's the exception. There are cases where you do need to pick-and-choose (I have a full day interview somewhere that means I can't do any other round 1 interviews that day), but it's rare. Round 2, it becomes a bit more complicated, but they usually have some flexibility.
2) Consulting requires A LOT of events...presentations, cocktail hours, invite only dinners, coffee chats, other events (I got brought to a hockey game), atrium hours, phone calls, etc. You're being judged the whole time, and there are a lot of consulting firms. (The good news is, even if you fuck up during this stage, they give people who bid (people who don't get on the closed list) a fair shake, and plenty of people who weren't on closed lists do get offers_
After all that, even at the M7, only ~30% of people interviewing will get MBB, and maybe 50% will get a consulting offer at all.
Finance is all of that, PLUS they are probably making you fly out to NYC (consulting firms come to you) nearly every week. Finance, if you don't get on the closed list, it's over. They'll have an open list you can bid on, but they've pretty much decided who they want before the interviews. On the plus site, at top schools 80-90% of people who recruiting for IB get an offer (88% success rate at Kellogg last year).
3) It's impossible to target both and do well. Many people go to the initial events for both, but every person I know chose consulting or IB within the first week or two of recruiting starting. There's just too many events and the interviews are so different, no way to do both well.
In my experience, you don't have to worry too much about competing firms scheduling at the same time. Your career center team works with the firms to schedule their times, and they try to keep those situations to a minimum.
It varies by school as to when you need to narrow down what you want to do. As a 1Y last year, our OCR internship recruiting didn't begin until January, which have you the entire fall semester to explore, network, think, etc.
Nothing to add about what makes consulting so rigorous, except that you also have to devote time to mastering cases, which is a huge time suck.
Do more people go for consulting or investment banking?
Varies by school, but overall consulting has been more popular lately. In 2008 finance was ahead though.
OCR Process/Timeline (Originally Posted: 02/03/2012)
I've done some searching on here but haven't found what I'm specifically looking for:
On this forum it seems like recruiting began some time ago with offers being handed out already at this point. At my school however, recruiting really seems to have begun the middle/end of last week and going into full swing this week with first round OCR interviews and continuing on into next week.
I had a first round OCR last week with one firm and was invited for a superday that took place a little over a week later -- and the callback for that superday was two days after my first round. My college has a requirement of at minimum 72 hours notice to be invited for a second round, and that if an offer is made we're given 2 weeks to decide (no exploding offers aloud on campus). I believe I go to a target school.
How long after a first round OCR should I wait before reaching out to HR/my interviewer? Is every bank/firm different and is it still early in the process (I had an HR at one firm, immediately after my superday as I was about to leave. walk up and say they were very early in the process and will be completing some more super days before their handing out offers to anyone)...
I'd love to hear your input -- thanks!
If you had a legitimate conflict and couldn't make the super-day because they didn't give you notice, then you might stand on your rights. But if you have nothing to gain by doing so, then you might consider letting this one go.
My apologies - I sort of wrote my first post in an awkward way:
I suppose I'm wondering how long after an OCR first round interview is a normal time duration to wait until hearing back about being invited to a second round/superday?
Questions about OCR! (Originally Posted: 09/09/2012)
Hey everybody, I've been trying to find the answers to my questions about OCR using the search function, but to no avail. So here are my questions, hope you guys can help me out :D
I'm a junior applying for SA positions for next summer, attending a semi-target/regional target.
Thanks for the help!
I'm going to assume you're talking about FT slots:
FT OCR generally runs through November (at the latest), and should be all wrapped up by the time December rolls around.
I suppose so? OCR just means that any given bank considers your school a core school (usually because there's lots of alums at that bank). But generally if a bank conducts and info session, it will also conduct on campus interviews.
Yes, but I think usually there'll be an in person interview with someone from the US, and then final rounds will be over skype or something.
Oh this is what i get for not reading entire post by OP before answering questions.
Screw it, I'm out.
Could you please elaborate on #4? I chose to study abroad in the fall of my junior year as that was the best time according to my research.
Campus recruiting (Originally Posted: 03/24/2010)
Hi,
I was just wondering if I could get some insight into how Investment Banks recruit in the States. In the UK we make online applications and basically wait to hear back (recruiters do come to the campus, and while that can be a way to network and make contacts, very few get directly picked for interviews straight from there). Is it any different in the States? I have heard that they are more heavy in 'campus recruiting' - though not sure I fully grasp how that works.
I will probably be doing a Masters in international and development economics at Yale next year, and am aware that most recruiters will target undergrads and MBA students, so not really sure where/if i even have a chance here, but wanted to get as much info as possible.
Thanks a lot.
In the US, there are 2 kinds of schools: Targets (schools which are well represented at the firm and to which the firm directly goes to recruit) and Non-Targets (the rest).
At Targets, the first stage in recruiting is Information Sessions. These presentations made by the company to inform students about the firm and about the kinds of roles available. It's also a good chance to network with employees and recruiters at the company, and ask any questions you have about the firms.
The next stage is OCR (On-campus recruiting). Here, companies will set up resume drops for students. You'll drop your resume and cover letter, and if the recruiter thinks you're a good match, will add you to the list of interviewees. Selected candidates will sign-up for an on-campus interview. Till this point, you're only competing with students from your college.
If your OCR interviewer liked you, you'll be invited for a super-day at the company's office. At this point you're competing with selected candidates from other target and non-target universities. Superdays consist of a series of interviews with people in the divisions that you applied for. For 90% of the companies, this is the last step of the process. Some really selective firms will invite you to 3rd or even 4th rounds (3 is the most I've had, but a friend of mine swears he had 5 rounds with Jane Street).
For non-targets, there is no OCR (and mostly no info sessions). Here, you apply online and if you pass the screening, you'll have a phone interview. If you pass the phone-interview(s), you'll have a superday, and there-on it's the same.
Networking is very important in the US for getting that first interview. I'm guessing this is because there are an insanely large number of students interested in jobs on WS here and it's not possible for every student to have his resume looked at. For large banks, there are just so many applicants that you might just need that extra push to secure the first interview. Smaller boutiques don't have the resources to do extensive recruiting, and here networking becomes even more important.
Thanks a lot for this, very informative.
So would these information sessions and resume drops only be for undergrads or is it open - so even master students could get involved?
online apps = black hole
Information sessions are open to everyone. Policy for Masters students depends on the university. At my college, most of the resume drops are open only to undergrads. The B-school has its own recruiting site, leaving Masters students in the middle on nowhere. Is the masters at Yale offered from the B-school? If so, you might be eligible for MBA resume drops.
Networking can help you here. If a recruiter knows you through info sessions or email/phone networking, he might be able to sign you up for an interview slot himself. I'm not sure about this though; any professionals care comment on this?
no the masters is not offered by the B-School, its run by the economic department.
I guess masters students are not targeted much in the States. Perhaps it would be better for me to take up the offer at LSE as the recruiting for masters there is pretty good, though I think going to yale would be a great experience.
black hole for even targets?
way way way lower response rate than in the UK (duh, b/c in the UK online apps are standard) even for targets
in the USA there is such a heavy focus on on campus recruiting that only the very very best resumes will make it through the online process
online apps is a black hole regardless. I would also point out that even though they recruit On campus target kids should still network heavily at the networking events/emailing alumni that are in the field of interest; both to learn more about the field and to cast a wider net. Eventhough you are target, you are still going up against some of the most qualified students around. If you go to a non-target, the only thing you HAVE to do is network because that the only way to get an interview. PERIOD. I have met people who say they got interviews through online apps, but honestly its like meeting someone who has been struck by lightning. When they say it, in the back of your mind your thinking, wow (or Luck F**k)
OCR - How interviews are laid out? (Originally Posted: 09/23/2013)
Never taken part in on-campus recruiting before....can anybody speak to how the interview is laid out...i'm assuming since the slots are in 30 / 45 min intervals and generally conducted by an HR representative, they're mostly fit....any comments / insight would be appreciated, thank you.
It really varies and depends on what firm and what group.
Some firm may send a HR rep, and it would be mostly behavior/fit questions. Some may add an analyst alongside with the HR rep to make it mostly behavior with a hint of technical.
I had an interview with an ED and MD, 50/50 technical/fit. Also had an interview with one analyst and it was 90% technical. So it really depends.
I would ask around to see who had done that interview before to get a hint of what I am going to put myself through.
OCR is usually NOT done by HR. From my experience it is usually an analyst/associate + a more senior person. Depending on firm/your resume/your school you get a mix of behavioral and technicals.
i know for a fact it's with HR, the recruiter is listed and i looked them up
if you know for sure you'll be kickin' it with hr, then yes. expect fluffy behavior questions. talk about leadership and teamwork and your passion for life, you'll be fine.
OCR Selection (Originally Posted: 01/08/2015)
Anyone have some insight on the OCR selection process? How much does GPA Matter given that you make the cutoff, but your GPA is not too high. I have heard that through OCR, GPA is the only thing that matters, and work experience and EC'S do not hold that much weight. How true is this? Any insight would be much appreciated.
At my shop, we apply GPA cut off of 3.2 or 3.3. Once you're resume is in front of me, I focus almost entirely on coursework and work experience to choose who we interview. After that, interview performance and testing results are what counts, not GPA.
GPA only becomes relevant in our decision process as a possible deciding factor when we're considering two candidates who are otherwise equal.
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