Feb 24, 2018
2019 Sumer Analyst Recruiting Starts
Not to keep reiterating other threads but...the timeline is officially confirmed to be way earlier than any previous year. At a target OCR event a couple days ago for a BB, HR head said apps were literally opening Feb 15th (!!!wtf) and that superdays would happen in April and May.
This is insane to me. Have people heard similar news for BB, EB, even boutique's? Not sure how this will impact the entire recruiting landscape but it's scary to think current sophomores have to start preparation now.
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Comments (101)
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No shit. That is insane.
there is no way that this is true
stop trying to scare me :(
It's true. WF summer 2019 apps are due mid-April for me. Other banks haven't put up apps yet, but info sessions are being planned for late feb, early march. I missed the WF one which was very early Feb.
Is your school a top target for WF?
Honestly, not entirely sure. I go to a top public tho.
Pretty sure my school is non-target (I know we are for consulting, but don't pay as close attention to banking), but yes WF and GS are taking apps starting next month for us.
Just went to a WF info session a few days ago and apps are due after a networking event in March. I seriously wanted to ask the recruiter wtf they're thinking.
This is not looking good for non-targets...
My friend (sophomore) just got an email from JPM saying their application for summer 2019 is open and they'll be reviewing applications on a rolling basis
Just got the email this morning as well, also a sophomore. Ridiculously early timeline
Confirmed. This is great for target school students who maxed out easy A classes within their first 3 semesters of college.
This is also great for students who managed to get an internship after freshman year. Not really sure how the process will work out when most will only be applying with 0-1 internships under their belt since these apps are due before people even find their sophomore internships
You'd mention what your internship plans are for the coming Summer.
Just got the JPM email and this is ridiculous for Sophomores like me who are transferring out to different schools this fall..
"It is not our circumstance that controls us, but our thoughts that control our circumstance." -James Allen
Non-targets, stay home, this race ain't for ya.
throw MS at him all you want but the truth is that if you don't have an alumni group to push your application there is a 0.0% chance of getting a first round from a non-target. I don't even think they look at the random online applications.
How will this even work for students that haven't secured a sophomore internship or have interviews for internships coming up?
Also, seriously what do transfer students do in this situation? Extend graduation date an extra year and try to get a strong IB internship after senior?
I was expecting recruiting to start soon after I make my transfer this fall so that I would be able to put my new school on my resume. This sucks.
Include the internship you have for this summer on your resume. Also, add that you will be transferring where your education is listed.
Last year when recruitment began early I put my summer internship and a few bullet points on what I knew would be my projects/tasks.
If you don't get the summer gig you want and feel that you'll struggle for full time then extend your graduation by a semester.
I've heard from alumni that the banks usually come to campus a few weeks after the fall semester starts(so early september). If all of this is true, they will be full by that time so I won't have the ability to go through OCR. Just seems insane that they are recruiting before we are even halfway through spring semester. Thanks though.
Yeah transfer student here as well. My resume is as strong as it can be coming from a non-target but there's zero OCR here. I was hoping to at least put my target transfer school on my resume and use their alumni to start networking my way in. Sounds like they'll be done recruiting before we even know which school we'll be at junior year. Could any one in the industry recommend what to do for this year. Do we legit just apply for different majors in the B school and switch after a year, extend schooling by an extra year, and network/have access to OCR for that whole extra year?
Non-Target POS looking for a SA 2019 spot
I'm in the exact same situation. Now that OCR is pushed up I dont think it'll be worth transferring anymore since recruiting will be over once fall semester starts. Extending undergrad by a year is out of the equation for me since it's mad expensive and i'm confident i'll still get a solid gig even if it's not IBD.
Ya im in the same boat, going to transfer into a target next year. Planning on pushing my graduation so i can come in as a sophomore. Gonna start networking hard to find something this summer, if not take winter quarter off to do an offcycle internship. I think the most important thing to do is bang out a good gpa our first quarter/semester.
I sincerely hope they reconsider this. So much talent is going to be lost. I still remember alumni who graduated around '13/'14/'15 telling me they interviewed in February of their junior year for SA. My school's career center is def not on top of this.
I guess the Sumerians expect way too much from you measly Babylonians. If only you Babylonians had a clue as to what the Assyrians are cooking up....Not to forget the Parthians and the Egyptians, or the Greeks. But hey, at least it's still sunny side up in Mohenjo-daro.
GoldenCinderblock: "I keep spending all my money on exotic fish so my armor sucks. Is it possible to romance multiple females? I got with the blue chick so far but I am also interested in the electronic chick and the face mask chick."
According to recruiters at target - JPM app is open and will start super days in May. GS doesn't open until the summer and first super days will be in July. MS same as GS.
To the sophomores recruiting right now, I wish you all the best of luck. This is basically a middle finger from the banks to transfer and non-target students, and generally just all students, as most 19 year olds probably don't know what the heck IB even is. Do not give up faith and just hustle.
On the bright side, if you don't manage to secure a BB/EB or respectable MM firm, you will at least have plenty of time and opportunities to recruit for backup options, such as Consulting, Asset Management, Private Wealth Management, or even Corporate Banking. While its not as glamorous, it is not the end of the world if you end up in one of these categories. With a solid position and firm, you will still have a great chance of re-recruiting into FT IB after your junior summer. Even if you don't manage to break in, I just want to let you know it is OKAY. These jobs will still pay you $100k+ all-in by the time you get your first year paycheck in 2021, (and they are great feeder jobs for the MBA track if you wish to pursue that route).
Agreed, also keep in mind PE recruitment of IB staff is intense, I was at an industry thing in NY during December; I heard multiple times, from different MDs ,at different banks that: PE head hunters are snatching analysts as soon as they are hired, one mentioned a head hunter sent dinner party invites to an entire class of 2017 analysts.
This new IB recruitment method may be an attempt to strengthen the pipeline and get you to agree to today's salary for tomorrows job. The demand for you guys is there, unless you at DB.......... Also, keep in mind the supply of new applicants is smaller due to tech, etc. Good luck in any event!
Why would the banks do this?
Have any of the other banks posted anything? I know some of the BBs have stated they're opening in June/July but is there any chance they move up their processes too in order to compete with JPM?
7,548 questions across 469 investment banks. The WSO Investment Banking Interview Prep Course has everything you'll ever need to start your career on Wall Street. Technical, Behavioral and Networking Courses + 2 Bonus Modules. Learn more.
At least the European recruitment process is more reasonable.
What is it like in Europe?
Apps usually open in July/August.
Recruiting in the fall for SAs or first/early year spring programs that convert to an SA offer.
Do they still open in July/August this year? I heard they're already opened for say London recruitment. Many thanks.
Just checked JP's page and SA 2019 is not open yet for Europe. Haven't checked any of the others banks but I'd be surprised if they opened any earlier than July/August. That being said, the earliest possible date would be after SW conversions have been given out around the end of April.
As a non-target sophomore this thread has me scratching my head. I'm interning with an f500 in engineering and I don't know exactly what I'll be doing or even what side of the country I'll be in for this summer, and banking summer 2019 recruitment is starting already? What the heck. I'm way out of my zone here, wasn't planning on touching BIWS until the summer...
It's ridiculous and not sustainable. Maybe after this crazy bull market ends, the banks will chill out and recruit at reasonable times.
I don't understand the benefit banks get from a recruiting timeline this early
It's a race for talent
To be more specific, banks believe that if a bank has an earlier recruiting cycle than them, then that bank will get the best candidates/analysts so the banks move up their timelines to match that bank.
On the bright side, the outrageously early deadlines will leave banks with much less information to go off of when selecting candidates and may leave them with shit intern classes. Which means more full time opportunities available. Eventually it has to get too early to decipher who the top talent is.
Haha
I'm awaiting transfer from a community college.
To all of you that feel that you don't have a chance, I will remind you that life is a marathon, not a sprint. Those with the persistence and dedication in the long-run will always win regardless of your starting point.
If you let things like this bring you down, you're not cut out to be in banking. Keep working hard and trust that good things will come.
All things being equal. .... there are those in target schools, with high GPAs that are persistent and dedicated - lots of em.
Love the attitude, keep it up. Not all successful people come from the same background.
Long run >short run
I'm starting the LSE MSc Finance this fall. Despite what I've heard about it being difficult to recruit in New York from schools in the UK, I'd like to recruit for IB internship roles in the US. Anyone know if there's a way for me to get in on early recruitment?
Houston BB IB first rounds starting in March and superdays in April/May. Insane
Do you know which Houston banks are recruiting now? I might have to up my networking game
Like I seriously don't understand this schedule, I'm still interviewing for stuff to put on my resume at this point
WF/JP/GS/DB/Petrie/Jeffries at the very least. Info sessions early March and applications/first round interviews after
Wow, that's absurd. That definitely makes me feel the non-target pain haha, almost makes me wish I sucked it up and paid out of state tuition at UT
Thanks for the info, I appreciate it.
If anything, this gives you all a leg up on the competition. If you're on this thread you're aware of the recruiting cycle and can begin preparing/networking now. All those people with strong resumes that only learn about banking at the last minute won't be in the mix. Study up, talk to people, and lock something down. Non-targets, get your foot in the door and then fucking slam it shut behind you.
I go a top public that is also the number one feeder into JPM. What would you guys suggest in my situation, only apply for JPM?
Well.. I'm in a similar situation as you and I'm applying to whatever is available. I don't think it's wise to apply just for JPM.
The number one feeder into JPM is a public?
This dude is talking about Ohio State University :/
lmao "top public"
This may be specific just to my school but this is the timelines we were given from the banks.
Goldman Sachs is doing an accelerated hiring process in the spring, taking apps between April 15-March 15. They're hiring 75% of their SA in the spring and then doing the process again in the fall for the remaning 25%.
As mentioned JPM is open and being review on a rolling basis.
BAML has not officially confirmed when exactly they'll be doing theirs. They seemed surprised by the accelerated timeline and looked like they're trying to figure out exactly when every other bank was doing theirs
Deutsche is doing first round interviews in the spring, offering a couple kids internships immediately after with no superday, and inviting the rest back for superdays at the end of the summer/early fall.
WF is doing their whole process in the spring including superdays with the application opening next week. Interviews beginning in April.
All are moved up significantly compared to last year.
No information on Morgan Stanley or Citi IB, not a target school for either of those.
What school is a target for GS, JPM, BAML, Deutsche, and WF but not for MS and Citi?
Small LAC without alumni at every single bank.
Thanks for sharing.
For GS, did you mean April 15-May 15? Or March 15-April 15?
(Just want to be sure.)
March 15 - April 15. That's just the application submission time though. Interviews would be after that, most likely in May.
Super days are May 16th and May 23rd with phone interviews before that
Phone interviews after Hirevue?
Thanks for this information. I do not think this process will be public correct? This is if you have networked with your school team/they decide to pull you in for an interview?
@qwerty54321
Are you sure there are phone interviews with GS? I have not heard that GS is doing phone interviews that much anymore... @lost_canadian
I did not think there were phone interviews after hirevue @lost_canadian , maybe I am wrong though
Thanks.
We were told at the GS info session there still would be phone screenings but they may not be doing that for all schools? idk that's just what I was told
oh interesting...
do you know if the process will be public? I thought they were just going to do hirevue -> superday... as last year summer process
@lost_canadian
source please?
bump yeah @celticsallday"
also- a GS contact I had said they would be public - but I do not think they are?? Another GS source said it would be limited so I am hearing different things.
appreciate if someone has clarification on this
I'm assuming you're at a target. Any advice for non targets to get involved in the accelerated recruiting if the app isn't public?
Hey! I think your best bet is to find any contacts you know at the firm/ look up individuals at the firm with similar backgrounds as you and reach out to them. Also- I think the early process is def focused on diversity recruiting, so if you are a diverse background that will help.
not sure if will be public or not- guess will see tomorrow!
Looks like it's up.
Where is it up? Where do you see it? @Tangiers Ace
where is it up? where do you see it? @Tangiers Ace
also dude mind PM'ing me? i tried to PM you but cannot @Tangiers Ace
It should be up on the website.
I'm not sure I'd be of much help, but I'll go ahead and PM you, yeah. Go to the summer analyst page on the website (WSO won't let me post the link here) and although it'll say those summer application dates at the top, if you attempt to apply, it'll let you. It also said thank you for applying to "Early Action" or something along those lines once I submitted my application.
What type of school do you go to? TX or NYC target?
NYC
Where did you get your GS information from about them hiring 75% in the spring...I have been talking with an employee at a target and they said most will happen in summer/fall...?
Jesus Christ I am so glad I am not you guys anymore. No offense, and best of luck, kids.
Can someone please explain to me how this is particularly disadvantageous towards non-target kids?
Preparation and times at which applications open
When banks are recruiting this early they'll probably be getting a lot of their applications and whatnot from on campus events like coffee chats, dinners and info sessions and a lot of the banks will probably be only accepting super early applications through campus recruiting job listings which excludes non targets and by the time they open the general population applications for non-target students to apply classes will be mostly or at least partially full leaving fewer spots available
Can this be alleviated by having contacts that are willing to pass along your resume, despite attending a non-target?
What does this mean for full time recruitment? Is that pushed to an earlier timeline as well?..
If I had to guess, FT recruitment won't change much. FT spots only open up when the SAs don't get return offers, and the analysts won't get a sense of that until at least a couple weeks into the summer. So there seems to be a hard limit on how early FT recruiting can be
Strong semi-target here. Asked our career center when banks were doing OCR and she said second week of September. According to her, many targets/semis are putting their foot down and refusing full OCR this spring so there will still be opportunities next August/September.
Probably just means the top firms are going to be much more active in diversity/accelerated programs this summer.
Target (Houston): Multiple BB's and EB's already have info sessions scheduled through March and on-campus interviews in first week of April.
Have applications opened for Europe/Asia as well (London/Singapore)? Many thanks.
Best of luck everyone.
Just remember there are a lot of smaller "unknown" banking/consulting/ PE firms that no one talks off but are always on the look out for ambitious, talented young people.
It may not be as "sexy" working for these firms compared to the larger firms but they can provide an excellent platform on which to launch a career.
Some smaller firms may even provide you with far better exposure and opportunities than in a bulge bracket.
Has anybody ever combined their GPA from the school they transferred from (3.91) with the GPA they made after the first semester of the school that they transferred to (3.09)? Currently at a semi target state school and they're already holding interviews for OCR in March and super days in May/April.
My current resume says:
"XYZ Semi Target University
Major: Finance
Overall GPA: 3.5"
But I am not sure if i should put:
"XYZ Semi Target University
Major: Finance
Overall GPA: 3.09
ABC Community College
Overall GPA: 3.91"
or just
"XYZ Semi Target University
Overall GPA: 3.09"
Let me know if you have been in the same situation.. I feel like a 3.09 GPA is an automatic ding, but I don't think putting a community college on a resume will all that helpful considering the competition of the other applicants.
Thanks
That is just straight up lying. They request an official transcript if you get the offer; they would know.
There is also no such thing as a combined GPA. Those credits from your CC are now just pass/fail.
How long do you usually have after getting an offer to submit an official transcript? I'm projecting a ~3.5 after this semester (so the beginning of may)? And I thought some places even require an unofficial transcripts to apply?
I received an offer in Oct and just submitted an official transcript this weekend. It was due within the next three weeks or so. It explicitly said that I could not use an unofficial transcript.
The official transcript was due within three weeks but you just submitted it this weekend?? Do you mean that they wanted an unofficial transcript in three weeks?
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