Accelerated Full Time Recruiting

Can someone please go into some detail about how this process works. I'm most interested in the following:

1) Because this is an unstructured process, how does one seek out positions and apply? Is it strictly through networking?

2) Are you shopping your summer offer, or can you apply without an offer in hand?

3) How is it different from OCR FT recruiting?

4) How many spots are traditionally vacant in coverage / product groups? Is it only to cover those intern spots who weren't given offers?

5) When does it begin / how quickly does it move / do all banks participate?

I know it's a lot of questions, so any insight is greatly appreciated as usual!

Comments (32)

Feb 20, 2015

1. It's not unstructured, it's just not drawn out. First rounds in the morning, final round in the afternoon if you make it. It IS unmarketed for the most part, so your inclination is right - you either have to already be on their radar or do some networking.

2. Usually all the banks have similar end dates, so for the most part, you'll know whether you got an offer or not. However, there are some exceptions - e.g., sometimes kids on quarter schedules will stay an extra week or two.

3. The interviews themselves are pretty much the same; the entire process just is much faster.

4. I don't know - it depends. It could be zero. And yes, they are pretty much just filling out other empty slots.

5. Already answered, already answered, and no.

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Feb 20, 2015

Thanks! So hypothetically, one could still participate in accelerated FT recruiting after the end of the internship, even without an offer? Not sure what you would be leveraging in that scenario. Or is recruiting strictly for kids already with FT offers who want to switch banks?

Feb 20, 2015
iggs99988:

Thanks! So hypothetically, one could still participate in accelerated FT recruiting after the end of the internship, even without an offer? Not sure what you would be leveraging in that scenario. Or is recruiting strictly for kids already with FT offers who want to switch banks?

Yes. You don't necessarily have to be leveraging anything other than just being a strong candidate (from my experience doing accelerated superdays, many candidates came from PE internships or similar that did not have the option of full-time employment, but were instead referred to IBs). Banks will do multiple accelerated superdays throughout August (3 or 4 for the bigger banks).

As noted above, they are typically unmarketed. I've seen banks do networking cocktails mid-summer (invites were sent out to candidates they interviewed during the SA period but took other offers, or SAs from rival banks that were networking with the host bank and considering a switch). So essentially you'd have to have already been on the banks radar (e.g. declined an SA offer or SA superday from them) or you network your way into the process.

If you're looking to participate in FT recruiting, going through the accelerated process is almost essential in current times. This is anecdotal, but from my experience going through the process this past summer, it appeared that the BBs are extending offers to a very high % of their summer analysts. The few spots that are left (3 or 4 at most BBs but again, mileage may vary) are filled almost entirely through accelerated interviews in August.

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Feb 20, 2015

First question of every interview (if they don't already have this information already) is "did you get a return offer?". There will be an excess of kids from slightly lesser shops with offers looking to switch up who will then be ahead of you on the pecking order if your answer is no. If there was size 1000 font on this website, I would post this next phrase in it and bold it: Focus 100% on getting a return offer.

Feb 22, 2015

Yeah the return offer question is huge.

D'Angelo: Nah, yo, it ain't like that. Look, the pawns, man, in the game, they get capped quick. They be out the game early.
Bodie: Unless they some smart-ass pawns.

Feb 22, 2015

interested as well.....

Current BO intern at BB (Who has been networking with alumni), but should I ask them about the accelerated process?

From some of the searches it seems incredibly hard to just land an interview via accelerated, let alone an offer. Yet, this option doesn't seem to make sense if it was harder to do than the regular FT process, right? Or should I wait to the regular process begins?

Worried as I see more and more threads about the FT accelerated process and internal mobility threads for SA (that I have not gotten), and I haven't heard anything yet....

Feb 22, 2015

hopefully someone can shed some light on the subject

Feb 22, 2015

someone needs to know

Feb 22, 2015

Could f you up if you interview for accelerated and then try again for regular recruiting. I know for Goldman, they really only hired SA's and accelerated candidates at my school. No normal on campus recruiting for FT. Other firms may be different.

--
"Those who say don't know, and those who know don't say."

Feb 22, 2015

okay24 give us more info on you so we can let you know if you have a shot at accel. I would definitely be networking/inform interviewing with people at banks now so if you can you'll be included in accel, if not they'll still remember you for normal season.

--
"Those who say don't know, and those who know don't say."

Feb 22, 2015

I'll be a senior at a semi-target next year. I have a non-IB finance internship in NYC this summer.

I have been networking all summer, so I have contacts at quite a few banks. However, I do not know whether it would be worth it to try for accel FT or just regular FT. Since I am at a semi-target, I imagine the FT spots will depend solely on if the SAs from my school take their FT offers (although I'm not sure)

Is it possible to get in Accel recruiting if I am not an SA? If I try and fail, do I still have a shot at regular FT? Or is it a 1-strike and you're out?

Also, which firms do accelerated recruiting?

Feb 22, 2015

bump...have any banks started accelerated interviews yet?

Feb 22, 2015

bump.. anyone been through accel recruiting FT before?

Feb 22, 2015

I went through accelerated FT interviews at a BB without being a SA in banking. I was on the waiting list for the bank for the SA spot but didn't make the cut. They invited me back for the accelerated interviews in August, and I'm now in training for the bank.

Feb 22, 2015

Accelerated interviews are usually for people studying abroad during normal recruiting, or other timing issues. Not sure about any advantage or disadvantage regarding relative competition or quotas. You don't have to be an SA to get into these, but probably need someone in the bank to push your resume through to HR.

Feb 22, 2015
LeveragedFiend:

Accelerated interviews are usually for people studying abroad during normal recruiting, or other timing issues. Not sure about any advantage or disadvantage regarding relative competition or quotas. You don't have to be an SA to get into these, but probably need someone in the bank to push your resume through to HR.

I see. How are the interviews normally? Any different than a normal interview? (more techs? less techs? all fit? etc.)

Feb 22, 2015

Yeah I feel like you almost have to be an SA or a special invite like wanderer to do accelerated FT; the reason why they are accelerated i the first place (for FT) is because you purportedly have an exploding offer, so you can't wait to jack around with regular FT recruiting.

That said, how exactly should one go about setting up accelerated FT, as far as timeline. I definitely want to start setting them up, just not sure if contacting HR/contacts at other firms right now is the best thing to do. My concern is that the HR/bankers from other banks would somehow know someone at my current bank and basically have word get around that I'm already looking elsewhere, thus potentially fucking me over for a FT offer in a few weeks/month. But I feel like if I wait to have the offer decision, then it could be too late to reach out to get an accelerated interview. What's everyone's experience with this that has been through a similar situation?

Feb 22, 2015

I went through a few accelerated interviews to shop around my offer. My impression from the kids at the receptions before hand, as well as the interview day, was that most were kids who had SA offers there or had been in the interview process for SA. If you fit into neither category, I would start asap - get in touch with recruiters and send them your resume or get people you know at the bank (even SAs) to pass along your resume. It's getting more and more competitive each year - this is one easy way to stay ahead of the curve for FT recruiting.

Feb 22, 2015

also interested in hearing from anyone who went through the FT process, especially the accelerated process. Does anyone know if, unlike SA recruiting, banks will be more prone to look at online apps during FT?

Feb 22, 2015

I doubt they would place any more importance on online applications. I am worried about networking, because word spreads out quickly, and I wouldn't want my current bank to find out I am talking to other people. How did you guys network without risking a full time offer?

Feb 22, 2015

Dont worry about that. You dont think the bank youre at this summer isnt having the same reception/accelerated interviews to fill the spots of the SAs that fuck up this summer? I think its rare for people to talk about specific SAs in the recruiting process (unless you did something crazy/hilarious).

Feb 22, 2015

Anyone?

Feb 22, 2015

Bumperino

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

Feb 22, 2015

any insight sharktown? would really appreciate some help as i am attempting to go through this process now

Feb 22, 2015

As far as I know there have been no receptions yet. BBs, especially this year, will only be hiring on a need basis vs trying to fill up additional spots
EBs will have receptions in the next few weeks, if at all, and will probably either have a small handful of spots to fill or possibly none at all

Feb 22, 2015

most banks will still need to do some sort of OCR, since many don't fill their entire FT class from summer analysts and accelerated offers.

many summers can hold their offers for months (varies with target school career office guidelines), so banks might do accelerated recruiting to fill the spots of all the kids that didn't get offers, but then they will still need to fill the spots of kids that got offers and then decided against them later in the process, likely with OCR.

Banks also tend to do some OCR no matter what to keep good relationships open with schools

"Success means having the courage, the determination, and the will to become the person you believe you were meant to be"

Feb 22, 2015
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