Applying to both IBD and S&T -- a liability?
Do BB's frown upon SA applicants who apply to both IBD and S&T? I have heard it both ways: some people say it doesn't matter at all; some people say it is heavily frowned upon. One guy, a trader who I am relatively close with, went as far as to say that if I was interested in both IBD and S&t, that there was no way I knew anything about either -- that they are so different that the only way I could be attracted to both was if I didn't really know what either was.
Considering the time I've put into researching both, I like to think I have a good idea of what both career tracks entail and that I am genuinely interested in both. And anyway, probabilistically speaking, it seems as though my chances at getting a desirable job are significantly higher if I apply to both.
What are your opinions?
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Bump. Fwbreeze, I think the question is more "will it hurt me in getting an interview if I apply to both?"
we've got 8.5% unemployment.
Banks probably know this better than anyone...
Don't do it.
The person who told you that it doesn't matter is probably someone you met at an info session or some recruiting events. He/she didn't want to stop you from applying that why. Listen to your close friend.
The truth is, it's not an automatic ding. But think about it, both positions have thousands of people going for it. Banks are not just hiring those who are merely qualified. They are going to hire those who are most committed or the best of the best. While it is not a lie to say that it is okay to apply to both, it automatically implies that you are not committed to either one, at least not as much as those who only applied to one. Remember, okay to apply to both doesn't mean you will get the job.
I once applied to a BB's IBD and S&T because their online application allowed me to. The interviewer brought it up and asked why. I gave a very reasonable explanation (probably similar to yours) but was waitlisted and eventually turned down for both. I'm sure both divisions had thousands of people who were as qualified as I was but only applied to one. Hope it helps.
IB2001:
Thank you for the long response. I was under the impression that resumes are just filtered to analysts, etc who only review your resume for their positions. They don't know who applies where, just they have to pick 10 people to interview or so.
For me, I've got good connections in S&t (an MD) actually, and a bankers (Associates, analysts) but I'd rather do banking if given the chance.
Thoughts..?
the interviewer was HR, or a guy from the division?
SmallUser: I think it's different depending on the bank. To be safe, I would just apply to the one you are most interested in.
febreeze: i had two rounds of phone interviews with two Associates in S&T. The second guy brought it up. He somehow knew I applied to IBD as well.
They wait listed you even though you only made it to phone interview? Interesting!
As for a general rule, I'd apply to wherever you have a beer chance. For me, I'll apply to both because I have 2 sides pulling for me.
No I'm actually not sure if I got waitlisted. I just had two rounds of interview and never heard back. Usually that means they found people better than you but didn't want to turn you down yet...
Oh, that is frustrating...I'm sorry!
I guess I'll take my chances and see if I can explain myself away!
Pick the one you are more interested in or have more contacts in and apply to that
In this case, it's a BB and I have a contact who is an MD in S&T. However, I know an associate and analyst at least in banking. Given that I have an internship in banking for the spring, and I think I want that more, what would you do?
I feel the MD could get me an interview, and I would enjoy S&T. Would it hurt me a lot to apply to both? Thanks so much.
If you prefer banking, you have experience in banking and you have contacts in banking, apply only to banking.
Apply to both...i did that and got 5 BB interviews for S&T...recruiters basically saw from my cover letter and resume that I was a better fit for S&T...
Also, i dont know how this would be brought up in an interview when HR doesnt interview anyone...at least not in my experience.
applying to both s&t and ib = bad move? (Originally Posted: 01/21/2010)
i've seen here and there that applying to both s&t and ib is a bad move...will firms see this and take this into account/ding your for it?
applying for summer analyst positions, exp at a commercial bank (nothing super relevant)
They will make you choose one. In general it is probably better to pick one or the other. They are very different and applying to both makes it look like you don't know what you want. Odds of the different departments talking to each other are slim though.
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