I'm a second year in a target MBA looking to recruit FT for IB. Over the summer I did MBB in the US but unfortunately didn't get a return offer.
Any suggestions how to tackle recruiting FT, as I haven't come across a lot of job postings? Do you guys forecast new openings due to increased deal activity?
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also interested
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I would say that recruiting will definitely ramp up around Q1. At least that's the sentiment in our BB coverage group but would be good to know what is the status at other firms or groups
Which group / firm if I might ask?
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I'd be surprised if banks won't start posting new spots in the coming months. Our team can already feel the heat from the expected deal pipeline and it's about to get sweaty. So banks will either open new spots at the analyst / associate level or face churn given amount of work....
Tbh I think most of that hiring will impact the lateral/experienced hire market rather than new grads
Banks are already somewhat bloated with experienced hires that might look to exit IB. It would make sense if banks will simply hire new associate grads that are always harder to come by than analysts
Ngl not getting a RO at an MBB is a pretty big red flag you're going to have to overcome
I'm not sure which MBB OP went to, but at least in our M7 some MBBs didn't have great return rates. I wouldn't say it's that much of a red flag as sometimes it's simply because of lack of fit with the type of work or team
I honestly don't think it's that much of an issue if you (a) are a strong candidate, and (b) can effectively articulate the reasoning (hopefully with some reference from your previous team). So a couple of folks from our class this year that didn't get return offers yet landed FT at pretty good EB / BBs
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The initial full time recruiting wave already passed for MBA Associate roles. Best you can do is keep networking but may be difficult to find something.
Banks continuously hire especially after bonus season in Jan, not just in the initial full-time hire stage (Aug-Sep). More spots will open so I wouldn't really worry about it.
So I shouldn't expect any new FT MBA openings?
There will be, but they’ll be less formal processes that you get into via networking
I'd find it hard to believe that firms won't open more spots for FT MBA roles. Deal flow is already accelerating at an extremely fast pace (just look at the large-cap deal announcements / rumors this week) and groups need working hands that aren't too expensive.
IMO if you have relevant prior experience, or interned in an adjacent finance field (eg IM, AM, PE that for the most part don't give out return offers), you should be in a good spot. Just keep networking
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