Fulltime recruiting: How many slots are there? Associates and Analysts

How many slots are there generally for fulltime analyst or fulltime associate gigs once you take out the Summer slots? Asking for middle market firms including like Stifel/Raymond James and the like + BBs + EBs.

I'm asking because to see if I should be trying to do a dual degree to recruit for summer positions.

 
Best Response

There are always 3 or 4 spots for analysts at Moelis, Evercore, Greenhill and Lazard and those seats usually go to BB SAs. The first three actually host summer receptions for FT recruiting in July.

BB FIG teams also usually recruit FT for 2 or 3 spots.

RBC, Guggenheim and Rothschild also do some degree of FT recruiting every year.

Will definitely be tougher this year because of market conditions but can still be done.

 

I don't have an exact number for you, but in my experience the very limited number of seats still open post-summer get filled very quickly by top-target OCR in the fall. Schools such as HYPW & Columbia clean up leftovers and most classes get filled by the end of September - first week of October. This is consistent across the banking spectrum (MM, BB, EB). Honestly I think that if you don't go to a top target, your chances of FT recruiting in the fall are next to nothing, because the remaining seats go to the most "pedigreed" candidates with BB SA experience.

 

From my experience of a class of 10 analysts like 3 were not summer analysts / moved groups within the bank. The reason why FIG may have additional spots is because FIG has to do its own recruiting as exit opportunities are limited(both summer and full-time at my bank). Only top groups like GS FIG and now MS FIG are getting good looks but it's a tough battle to find exit opportunities. I have a friend at Stifel and he said maybe half or so didn't summer there, so still a chance for those MM-type banks.

 

I am interning at MBB this summer and at my office the intern:consultant ratio is a about 1:10, including MBA interns. I think that the class might be a little larger.

 

That`s the major drawback with S&T recruiting: your first choice for desk placement might not be an option at all if no meaningful turnover has occured.

For example if you want to be on an Interest Rates Derivatives desk and they hired a new analyst the year before, he's likely still there and if no other lower-ranking employee has left the desk, there is simply no room for you.

in IBD, your first choice may always be an option because turnover is consistent and predictable year over year.

 
enti98:

When should I expect there to be more open lateral analyst slots available within IBD? Is there a specific time period when people generally jump ship or there tends to be more open spots because people leave for other firms/buyside? I'm assuming around bonus time, or right after more-so? Info would be greatly appreciated.

I doubt you're going to find anything online. The way you'd likely hear about these open slots are when someone quits or gets fired. Knowing someone inside the bank that could pass your resume along right after something like this happens is your best bet.

 

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