I feel ya. I am also curious how to approach FT recruiting if you already have a SA gig... especially since I've heard that some banks recruit in the summer. I'm not too sure though. Do you know by chance?

 

FT recruiting is if anything is even more accelerated. I believe the trend for the past two years is that most BBs don't have an official FT recruiting process for IB. Towards the end of the summer when they give out offers and figure out their vacancy, many groups will move to quickly fill in those spots, but most of those spots are filled internally (usually top performing interns from other FO divisions like Capital Markets).

This has been the case at my BB and has been true to at the BB firms my friends work at. The case is different for EBs and independent advisory shops and most people I know that recruited for FT ended in one of those firms.

 

Last year, I'd say about 80%, maybe 90%, of summer analysts were converted to full time positions at most places with formal analyst programs, leaving only ~10-20% of analyst positions vacant.

FT IB Recruiting is not nearly as structured as SA recruiting. If you're in NYC, many banks will host networking events mid-summer - invites come from friends working at those banks. At the end of the summer, with SAs getting offers (or not), there is a huge scramble between banks, trying to poach talent from one another (even the smaller places will participate in this). I would say that this is where FT IB recruiting "starts"

but, non-BB banks may recruit sporadically from september-november; these are the openings you would find online.

hope that answers your questions

 

So what is the process like for someone a year out of college and working at a startup -- would I try to get in at the same time as what you guys are saying (july/august when there are vacancies between summer's accepting offers and filling out the FT class)?

I had two internships in banking during college, didn't end up getting an offer from a BB for junior SA and just moped around until graduating and starting work at a fin-tech startup. Should I start earlier or later than others in terms of hard-networking?

"I did it for me...I liked it...I was good at it. And I was really... I was alive."
 

Anyone heard any receptions given out yet? In the same situation where people ask me to come back late July even at EBs when they know whether they are recruiting. DB said they are recruiting September / October which seems very late to me. Anyone can confirm?

 
itsnottough:

Are there still more rounds for EBs in the next few weeks or are they finished? Have been networking but response rate is very low, still trying

Not sure. I'm assuming they are still ongoing as the summer isn't over yet, I just know they started a week or 2 ago.
 

Very curious to hear which boutiques have receptions. Evercore is planning to have one in 1-2 weeks or so and as of Wednesday they had not hashed out the details yet. Lazard is not. PJT is not, potentially something in late July maybe? Haven't heard anything from Moelis folks so maybe they are running some stuff, same for HL / PWP / Centerview.

 
Kazimierz:

Very curious to hear which boutiques have receptions. Evercore is planning to have one in 1-2 weeks or so and as of Wednesday they had not hashed out the details yet. Lazard is not. PJT is not, potentially something in late July maybe? Haven't heard anything from Moelis folks so maybe they are running some stuff, same for HL / PWP / Centerview.

I was at an EB and was talking to the 1st yrs a week or two ago now and they said that there was a reception event for which they all already passed names through.
 

Posted this in the wrong thread...

I'm going to assume energy IB opportunities will be limited due to low price of oil and deal pipeline being feast to famine? Can anyone chime in that has insight?

Non-target with O&G experience looking to break in but finding out that few if any are hiring. Citi MD has told me they are not actively looking and will fill any roles from current intern class.

 

Don't know if Lazard will be recruiting, this week people are still telling me they are not sure whether they are recruiting yet and my email response rate is exceptionally low despite having emailed around 30 people multiple times. Anyone else can confirm?

 

There are a few IB analyst opportunities posted by Lazard online that I applied to just in case; however, they might be for experienced hires (not specified online). I've sent multiple emails as well with no response.

 

There are a few IB analyst opportunities posted by Lazard online that I applied to just in case; however, they might be for experienced hires (not specified online). I've sent multiple emails as well with no response.

 

I don't know about many at all that are happening haha, that's why I've been asking about them. I've just seen that people have mentioned receptions from recruiting threads of years past. Only thing I know for sure is that Jefferies isn't doing FT, Lazard has IB analyst postings that may be for experienced hires (unclear) and that a few EBs are considering people for potential receptions, nothing definite.

 

Did the people you know network but still got a rejection email? How many people do they have pulling their resume? Just trying to see how many people I should get in touch with to secure an interview. Also anyone heard from PWP?

 

Does anyone have insights into any energy groups in Houston? TPH? Simmons post-acquisition?

I'm assuming the downturn is going to result in smaller classes and even fewer, if any spots for non-interns looking to move into IB or a different firm.

 

TPH will start recruiting at target schools beginning on September 14 at McCombs. I believe they are very on-campus focused. I think Simmons is similar. Will let you know if I find out any other info.

 

michaellewis thanks! Please let me know. I do know from speaking with Simmons last year they hire straight from their intern class and rarely go outside of it. Also IDK for a fact but I wouldn't be surprised if they filled their class for 1st years already.

 

Anyone else can confirm this? I was told they would send mid/late this week. Also spoke with someone there who said most people who went to the reception would get invites, and I personally know quite a few people who haven't heard back yet.

 

I believe their online application for regular FT was due on the 29th or the 31st of last month. It's crazy how accelerated FT recruiting is at EBs compared to BBs this year

 

In terms of analyst comp, generally EBs tend to be more. With CS / DB going through some restructuring right now I wouldn't expect bonuses to beat out Moelis/Evercore for the next two years.

In terms of PE opps, a top BB group and an EB will get you the same interview opportunities. Really upto the candidate to convert.

 

Has anybody heard anything about FT opportunities at firms like BAML, HSBC, Barclays, etc...? Not sure if I am late to the party, but couldn't find any FT programs on BAML or HSBC website. Also, for all the Barclays programs they say "No current opportunities available". Pretty crazy how early everything is this year....

 

Are you going through the process - I was under the impression FT interviews were over? Just like the WSO Company Database says, the interviews at Lazard were different from any other experience you're going to have. Not cookie cutter at all in the sense that nothing on the guides are going to help you. There was a lot about fit, so know your resume cold. The technicals were all extremely conceptual - two of my interviews were very open ended case studies.

For anyone waiting to hear back - I got confirmation from HR we should hear back next week.

 

Hey, what do you guys usually bring to interviews/superdays? Just want to see what most people bring (pen,pencil, resume folder/portfolio, notebook, etc.)

 

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