HELP - Full Time Associate Recruiting
Did not get return offer during the summer. Quick profile - go to a T20 MBA and interned at (RBC/WB/HL/UBS) as a summer associate. I want to continue pursuing IB; thus, I have a few questions:
- As an MBA, what are the next steps and timeline for recruiting full time?
- What kind of firms should I target, given that full time recruiting is limited?
- How will full-time interviews differ from summer interviews?
- Any other advice for full time recruiting
Thanks a lot guys
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bump
Did you let Drew know? He'll help you out.
Just kidding in case that inside joke was a mystery to you, just trying to guess your school. In this case, your best bet is to contact everyone else in your class, the people in the year above you who you connected with, and your career services adviser. Also, if you're desperate, hire a career consultant / recruiter. I know a guy who went to a shit tier MM, got no offer, and then ended up at much better bank through hiring a recruiter.
Most offers will be given out between now and October, and then banks will go quiet on offers again until April or so. So if you don't get one now, you're pretty much left holding your dick until late Spring.
Thanks for the reply. What exactly do you mean by hiring a recruiter? Like going to a headhunter?
bump
Pursue any and all firms including no name boutiques
Use your schools job site / resources, all non traditional avenues (linkedin cold emailing etc)
Have an air-tight story about why no offer and it can't be fit based or headcount based.
Summer associate no offer is a pretty huge red flag as the seats are pre-allocated vs. summer analyst overhiring
Thanks for the reply
My firm actually only gave 50% offer to summer associates and they gave no summer associate offers to anyone in my specific industry group... so is that not a legit reason?
Does having references from the bank help and should you offer them during the interview?
Finally, what are some good reasons about no offer? The reasons they gave me were fairly vague like taking too many staffings, getting too many coffee chats (even though I only got one coffee chat per person in the group)
It sounded more like they had no headcount
Could you share reasons why you did not get a full time offer? I am looking to start at a T20 MBA next fall and really anxious to know why this might happen.
Seemed like no headcount
Could you share which Banks(BB/EB) have cut their Associate class sizes from MBA programs and by how much? Also, which banks have stopped sponsoring internationals?
Recruiting At Different Banks For Full-Time After MBA Summer Associate Program (Originally Posted: 05/24/2018)
Hi Guys,
Just curious to hear from anyone with experience recruiting at a different bank after your summer associate program in between years. I realize this will vary from school to school and the quality of relationships you built up over the recruiting period, but any clarity would definitely be helpful.
For reference I am at an MBA business schools">M7 heading to New York for the summer.
Thanks! Peter Parker
There are three types of ways this happens:
1) Midway through the summer some banks you had good relationships with during recruiting, maybe you had an offer and turned them down, etc reach out to a select few who they want to bring back in because they know they'll have some open spots. This is rare, but happens. One EB and one BB did it to a few of us my year.
2) Midway through the summer you reach out to banks you had good relationships with, let them know you are on track for an offer, are enjoying your summer, but are still very interested in their platform. If they liked you enough, even if you didn't get an offer, they might have you do a few networking calls. And if they have full time spots open they'll ask you to come in and interview directly after their summer class leaves (like the week after).
3) A few banks, if they don't fill their open spots through the first two, will post again for on campus interview slots. These banks are often the less sought after than the first two.
All that said, what matters most is you get an offer from your summer. We will ask you if you got an offer (as will almost all other banks) and they will confirm through their back channels. If you didn't get an offer from your summer, you will have a hell of a time getting another offer. Also, trading up does happen, but it's not common. And the majority of banks won't have any FT slots. So you should be focused first and foremost on the bank you'll be at.
Associate Recruiting (Originally Posted: 07/17/2008)
Everyone - what are you expecting as far as associate recruiting for the coming years given the current economic climate?
It seems like class of 2008 MBAs are fine. The class of 2009 seems to be quite worried about the conversion rate of internship to FT offers.
How worried should the classes of 2010 and 2011 be respectively?
If people apply to B-School this year, start in Fall of 2009, intern during the summer of 2010, and start FT in 2011 - should they be alright?
I am guessing that MBA business schools">M7 schools will be less hurt as far as recruiting - but schools ranked 10-15 will take a larger hit?
Are we going to have guys who did banking pre-MBA choose to go back to banking instead of pursuing buy side jobs? Essentially, hogging up all the slots for career switchers etc.?
will be tough. once in though, firms will continue to recruit to fill their summer classes because:
1) they don't want to miss out on securing an entire group of students from certain a program just because of "current" market conditions. recruiters are forward looking and will hire/fire in expectation of what the business will look like months/years out. the expectation is that the market will return to normalcy, so recruiting prospects should improve as well. 2) firms are constantly worried about perception at the MBA level. they know that if they skip a year or renege/skimp on offers, that MBA career managing officers (as well as students) will stay away from those firms. in that way, it behooves them to make the best effort to recruiting during the summer associate process.
as mentioned before, i think the toughest part will be actually getting into the programs, as i'm sure a lot of people are looking to head back to school no (thus increasing the competition for slots). other than that, once you get your foot in the door, as you mentioned yourself, another hurdle is actually converting your summer offer into a full-time one.
Won't a lot of firms come to campus to fulfill the bare minimum requirements, but only really hire about half the amount of kids they did last year?
I think that's wishful thinking.
Keep in mind that banks and consulting firms absolutely screwed the '01, '02 and '03 grads by offering jobs, then reneging them (or offering some sort of "2-year deferral" which is another way of saying "no job"), and bascially dicking a lot of students around. A lot of people graduating in those years have very bitter memories of how the banks and consulting firms treated them.
And yet, from '04 onwards, the MBAs kept on coming and continued to take the jobs in droves.
The recruiters will do what they feel is best for them in the short-term.
And what usually happens is that banks tend to underhire during a downturn, and overhire during good times.
Recruiting across the board will be tough, especially with the banks.
Alex Chu
'11 Associate class recruiting (Originally Posted: 03/02/2011)
Are BB’s still recruiting for the ’11 Associate class or is it all said and done at this point? If such opportunities do exist, any suggestions on the best approach to find them would be appreciated (networking, alumni, HR, headhunter?). Also, while a bit off topic from the aforementioned, do Energy groups based out of Houston tend to have their own recruiting process?
Thank you in advance for the input.
I assume you mean starting full time in 2011? Either way the answer is yes. Full-time takes place on campus in the fall for those banks who, for whatever reason, have spots that weren't occupied by summer offers. Summer takes place in the early spring (mid January for the Houston groups) and that has also wrapped. The Houston offices do have their own recruiting process, though some, like BarCap, still hire you into the general pool even though it is the Houston guys who make the decision.
Associate IBD Recruiting (Originally Posted: 08/19/2013)
Is there accelerated recruiting for associate-level hires as there is for undergraduates? If so which firms have already started interviewing?
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