FT recruiting 2021
So, if every BB gives out instant FT offers to the SA, I'm assuming BB won't take any FT externally unless someone doesn't accept? Seems like FT for 2021 will be VERY difficult for BB and maybe EB. Anyone have any thoughts?
On the other hand, maybe BB know that M&A activity will be busy and they'll need a solid FT class. If they already give out 85% return offers, maybe the FT classes won't be noticeably larger as some may not return or they'll get good PE offers (I'm thinking PE will be busy in a little while). FT may be relatively normal or even slightly more open.
Wondering the same
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Most banks give high return offers, though. I'd imagine instead of 85% return offers and 95% acceptance, it'll be closer to 100% return offers and 90% acceptance? Still probably higher but maybe some people don't get the "IB experience" they want and they're less inclined to continue in the IB path.
I guess all anyone can do is wait...
Why would someone decline an offer they recieve in IB right now for FT 2021 given the climate. I would be highly suprised if summer analysts in this class don't accept their return offers. It wouldn't make any sense... now isn't reall the time to gamble.
Most likely scenario: All BBs will have to convert 100% of their summer analyst class this year since some BBs are already doing this, which means bad press for the ones that don't. With that being said, some BBs will be treading thin ice with this move financially, ultimately meaning for those recruiting for FT 21 will be incredibly difficult. SA 2021 conversion may be even lower than usual because of this.
So all SA get FT offers, but analysts are relatively cheap. Use year one as a weedout program and drop the bottom bucket? Maybe instead of FT recruiting we'll see a larger group of 2nd yr analyst lateraling to new banks.
None of the BBs (besides maybe DB) are going to be treading on thin ice financially from adding a few more interns than normal
Does that include DB? Surely with all these banks going virtual, offering full pay, or giving FT offers, they cannot cancel because it will ruin their reputation? I'm scared AF they will cancel without doing any of the above. They haven't even sent out ONE freaking email about anything. Lord have mercy on the DB SA Class of 2020.
DB not a BB
On a serious note, best of luck to you all
DB won't pull any offers for summers or FT. They've been quiet this whole time because they have no clue what to do, as does anyone else. Banks follow each other, in almost everything. So when a few BBs start giving FT offers to summers why would others risk their reputation in not doing so? Also, DB is actually trying to improve their reputation for future classes so the last thing they would want to do is screw things up now.
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Was just thinking about the same lol. I've seen a bunch of SA 2021 job postings; anyone see job posting for FT 2021?
FT recruiting usually has occurs between mid-June and September if I remember correctly. Not sure how much FT2021 we'd see now regardless of COVID. Maybe it's pushed to start in August and end in November. But I could be mistaken, maybe someone else is more knowledgeable about the typical FT recruiting timeline.
FT as I understand is primarily through networks, so this could have a smaller impact than anyone, myself included, is stressing.
Fair point, I just remember recruiting for SA (this year, junior in college) along with other seniors who were looking to lateral for FT. Might be grim due to covid though, who fucking knows.
FT positions are usually posted in August. This is because firms want to see how many SA they convert and hire from there. Interestingly, I think the little FT recruiting that will happen this time around will be before August (since banks will know offer acceptance rates before).
Also for those looking for a FT position, be smart about where you are looking. Citi might be tough but boutique Rx shops might need bodies
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