How late is too late to apply to banks?

Emics19's picture
Rank: Senior Monkey | 91

I will be applying to a variety of BBs and Boutiques (full-time analyst) and was curious about when I should be applying. I go to a target and some friends have already sent in multiple applications. I was planning on sending mine in around the first week of October so I can have ample time to revise and edit my documents as well as prepare for technicals. Would that be too late?

Input is appreciated

When is it too late to apply for full time positions in investment banking?

The recruiting process for full-time positions in investment banking usually begins in August. This is when banks will begin visiting target schools. The bank will open a resume drop a few weeks after their visit. After that, they will begin inviting candidates for on-campus interviews. The interview process goes from there until some time in December.

It is important to mindful of deadlines for applications. Early applications don't get you any bonus points. Just get the application in before the deadline. Full-time positions are scarce and the competition is fierce. Your chances of getting an interview are slim to none if you haven't submitted an application by the deadline.

There is an exception to this. If you have a senior connection in the bank who already has your resume (through networking) they may be able to help you out. However, this has to be a really strong connection to omit something like the application process altogether.

from certified user @NorthSider

It doesn't matter: firms will make decisions on the candidates they give interviews after the deadline and will not consider the time your application was submitted (as long as it wasn't late).

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Comments (20)

Sep 20, 2011

Well if you go to a target you should have an OCR, so your best bet is checking that and seeing what the deadlines are. Looking at my friends OCR deadlines are this month, deadlines are in Oct. It could vary by location to location, but from reading WSO threads recruitment takes place from sept-oct.

Sep 20, 2011

I go to a non target, start applying now?

I need a few more weeks to buff up the resume with substance; don't want to BS it

Sep 21, 2011
WSOWill:

I go to a non target, start applying now?

I need a few more weeks to buff up the resume with substance; don't want to BS it

I don't see how you can fundamentally change your credentials in a few weeks. Updating your resume and getting some second opinions should take no more than a few days.

Sep 21, 2011

Yea Ive check OCR and a few banks have posted but some still refer to the online document. So im not sure if I should apply closer to their deadlines or just get it in early...

Sep 21, 2011

Start applying now. By end of first week of october, most first rounds will be over and superdays will have started. If you are not going through OCR, quickly find alums to push your resume because other wise it will be very hard. I say start e-mail right this very second

Sep 21, 2011

Honestly, if you're starting now you're already pretty late. I'd get a move on as fast as I can if I were you, there aren't that many spots across the street that weren't taken up by summers and they're being snatched up fast.

Sep 21, 2011

Already too late son. Most banks are pretty much done/wrapping up recruiting.

Sep 21, 2011
batchavis:

Already too late son. Most banks are pretty much done/wrapping up recruiting.

this is wrong, but you are late bro.

'Before you enter... be willing to pay the price'

Sep 21, 2011

The first recruiting partners event is on campus tomorrow... Goldman, MS, DB, CS, Nomura, BoA, HSBC, Barcap, etc all attending... The only reason I haven't sent in applications was to see if they put a school specific one up on my career site but, so far only Citigroup has... So should I just send them all anyways or hold off another week?

Sep 21, 2011

Im in the UK if that helps...

Sep 26, 2011

I go to a non-target, right now you are on the late side of the BB, but maybe you shouldn't focus on them and instead focus on Middle Markets to small boutique.

Sep 26, 2011

For my part, when do you start applying for Summer Analyst positions?

I go to a non-target. Is it also starting in October?

Sep 26, 2011

Never to early to start, I would get on top if it now. Get familiar withe banks that your are interested in, if they are boutique a lot of the times the will hire as staff is needed. It doesn't hurt utilizing any network to build upon the network now. It's pretty much your only hope to get into banking--also is the best chance of getting in regardless if your from a target or not.

Sep 26, 2011

Duh, of course. Most roles are filled on a rolling basis. I suggest you get into the habit of applying as soon as something catches your interest. Life is too short to let procrastination get the better of you.

Sep 26, 2011

It doesn't matter: firms will make decisions on the candidates they give interviews after the deadline and will not consider the time your application was submitted (as long as it wasn't late).

Sep 26, 2011

so candidates who applied earlier dont have an advantage? its not like rolling admissions then

Sep 26, 2011
Prospector101:

so candidates who applied earlier dont have an advantage? its not like rolling admissions then

....wondering same thing: points for being super early?

Sep 26, 2011
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