Can you get a full-time interview this late in the season?

I'm sorry if this seems redundant, as I have asked this question in another thread and got a helpful response, but I was hoping to get more info and opinions on this situation.

I'm graduating in May and I am well aware that full-time analyst recruiting occurred in the fall. Hopefully some of you bankers or others who are well versed on situations like this, can help me out...here's the deal, I have a strong personal connection to some senior bankers. I'd like to get some insight on whether or not there is even a real chance of landing an interview for a FT analyst position given the unique circumstance combined with the unfortunate late timing. I know most FT hiring has occurred, but, my question is, are they able to continue to give any offers this late in the season or are they completely rigid in terms of positions and hiring (taking into account a very strong connection to IBD)?

 
sdumb:
Not too late - I'm in the same position. I contacted HR at a BB about 2010 FT positions and was asked to forward my resume.

Can you elaborate a little more? Do you have a networking connection of some sort or did you cold-call hoping to get an interview for FT? So they are fluid in terms of FT hiring from you perspective, right? Thanks man, I hope it works out for you too.

 
Best Response

I have spent a lot of time searching different job boards (simplyhired, efinancials, doostang) - and noticed a lot of places looking to hire experienced analysts. Sometimes they give the contact information of the recruiter. In my case, I emailed the HR person explaining my situation (really quick) and asked whether they anticipated hiring more for their incoming class.

FT recruitment is over, but only in the formal sense. I had a super day last week (didn't get it, obviously) and this past week have seen two FT banking positions on my school's career website.

If you're going to reach out to banks look for groups that are growing (Wells Fargo, BofA) and/or and fired a lot of people in the past (UBS, Citi). And don't just limit yourself to investment banking - several of the banks I listed have strong corporate/commercial banking programs. Hope this helps. PM me if you have more questions.

 

There are always individuals in each analyst class that were added late for one reason or another. While the numbers are typically very few compared to the number of people hired during the FT recruiting process, there is always a chance. There really isn't much harm in giving it a shot, so I suggest you contact your executives and get the ball rolling.

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 
CompBanker:
There are always individuals in each analyst class that were added late for one reason or another. While the numbers are typically very few compared to the number of people hired during the FT recruiting process, there is always a chance. There really isn't much harm in giving it a shot, so I suggest you contact your executives and get the ball rolling.

Thanks for the advice. I assume what you're saying is they do not have a strict standard for precise available spots, is that right? I'm hoping you are right, that they have a more fluid hiring structure enabling hiring this late in the game. Thanks again.

Anyone else have experience or insight?

 

There aren't a lot of people you are both qualified and non-clueless so there's always a chance for quality people. That said, why are you so late? Did you just have your thumb up your ass or was there a valid reason? I'd have a ready answer to this question in case it is asked. Otherwise I'd think (if I were your very senior connection), "this jerk just thinks he can wait until the last minute and then I'm supposed to wave my magic wand and make it happen."

 

Valid response, jhoratio.

To be honest, I didn't realize banking was for me until recently. For better or worse, that's the reason for the late pursuit. That being said, I've studied my butt off and have spent every free minute pursuing this and increasing my knowledge-base, because even though late, I know banking is for me.

Also, some recent work experiences have really spawned my interest in banking.

 

"If you're going to reach out to banks look for groups that are growing (Wells Fargo, BofA) and/or and fired a lot of people in the past (UBS, Citi). And don't just limit yourself to investment banking - several of the banks I listed have strong corporate/commercial banking programs. Hope this helps. PM me if you have more questions."

Why would he join a crap bank like UBS or banks that fire people? It just means he'll be fired too when the firm goes under or realizes its been bleeding red for the past 8 quarters. Obviously go for the winners like BAML.

 
slammaster:
yes

Thanks man. Are you an analyst at a BB or MM, and do you know if your firm has a strict number of opening spots for incoming FT analysts, or is your firm flexible on that? Also, if you don't mind, I'm curious, would the bankers be turned off to an interviewee this late in the season because it isn't following the standard recruiting format? Thanks for the insight.

 
squawkbox:
Hate to be blunt but FT hiring is over. The only positions being posted at targets are for summer analysts.

Best chance is to try to get into a one year masters program and apply for FT in the fall.

You could also try applying to the summer analyst programs, but this is a long shot.

Obviously active hiring through recruiting is over, but does that follow that they still interview/hire through connections/relationships at this point? Are you an analyst or just a student guessing on the situation?

 

So we've got 2 opposing views here - 1 saying that there's still time and the other saying there's not - ironically, they're both right. FT recruiting has ended for BB banks, but there are still a number, or at least a few slots available to be filled in random groups from incoming analysts who backed out of offers at the last minute, or because those groups were just allotted an additional analyst seat or 2. While these positions are far fewer than the traditional FT recruiting opportunities, they are also not nearly as widely publicized. The banks will first try to fill these slots either through applicants on file or through current banker recommendations. The latter is where you come in. You need to really work your network here (don't expect any miracles) and just have your contacts keep their ears open. Opportunities will present themselves, so you need to be on people's minds when they do.

Beyond that, boutiques often do not follow the same structured hiring procedures as BBs, especially smaller boutiques. These firms can be a great opportunity for you to develop a skill set, acquire some valuable experience and then, if interested, move on. Don't overlook these opportunities if you are really interested in banking and not just working for MS because you heard it is good.

Finally, keep your options open - not in terms of careers, but in terms of perhaps delaying graduation by a semester to give you a fresh round of FT to go for, as well as a shot as SA positions. Additionally, a Master's could work as well if this were an avenue you were interested in.

Keep your eyes open and call on your contacts - it won't be easy, but you've got some opportunity - I know of a few analysts that came in after FT recruiting for their respective incoming years - it happens, just be patient and stick with it. Good luck.

 

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