For current Sophomores looking to land a BB IBD Summer Analyst position for Summer 2018, we have less than 4 months until applications open up in August/September and recruitment starts.
Where do we currently see ourselves, and what are we planning on doing this summer to boost our odds during recruitment?
For me:
-3.54 GPA at non-target (Finance Club, Emerging Markets Club)
-Freshman Summer: summer study abroad at LSE
-Sophomore Fall: economic research internship at niche consulting firm
-Sophomore Spring: internship at PE Search Fund
-Sophomore Summer/Junior Fall (planned): Corporate Investor Relations Department at a top-3 (public) Asset Manager
-Junior Fall (planned): starting a Valuation club with some friends to follow along with Aswath Damodaran's online Valuation course and learn DCF analysis/practice valuing different businesses
*Also planning on taking a networking trip to NYC this summer and hoping to meet around ~10 junior bankers (Alums) for coffee/advice
Would love to hear everyone's plans to best position themselves for IBD SA recruitment this fall, and welcome any thoughts/opinions on my own plan!
(Any input regarding past application timelines would be appreciated)
To my knowledge the recruitment for summer 2018 is extremely accelerated and the process has started on the west coast already. So you actually might have less than 5 months. Good luck!
Do you know which applications have already opened?
I don't think applications are opened but firms (BBs and EBs) are doing on-campus info sessions for sophomores now.
JPM SF will wrap up all the interviews by Sep. I'm sure that will be the general schedules for most banks.
Seconded. Short lists going out for target schools on the west coast. Houston is accelerating as well for certain schools in the south
Interviews will be in July or August at most shops.
Edit: Am I wrong? Most shops will have first waves of interviews then.
No, you're correct. BBs are starting interviews in August at my school
Recruiting process for 2018 has already started at my southern semi-target. Actual drops haven't opened but firms have already done campus visits
Just a tip, because I did a NY networking trip last year too -- you should do a Lot more than 10 visits if you're doing it over the summer instead of a weekend, and you should meet with people higher up the chain than junior bankers. I've met people who would do 8-9 visits with people a day, all from different groups/banks (so they couldn't all coordinate and make their transits easier). Personally, I did about 15 visits over 3 days, and only 3 were with alumni because my non-target has very few people in FO roles in NY (or anywhere). How many days are you making your trip?
Thanks for the heads up. I could only find junior bankers using the Linkedin Alumni feature (my non-target was pretty terrible until very recently). Anyway, my family is now living in Manhattan, so even though I'll be interning in Boston this summer, I'm going to come down for a few weekend trips. I suppose if I start reaching out to MD's for coffee visits, I can try and have between 15-20 meetings throughout the Summer.
I'm only hesitant about reaching out to strangers because while I've had a very positive response rate contacting Alums, I'm not sure what incentive these guys would have to respond/meet/help me out. Any thoughts on this?
People will talk to you and help you out for any number of reasons, I know that's why I was helped out. Among the reasons I've been given:
Now, I have to note, I cleared the hurdles for smarts too -- 95%+ ACT/SAT, 3.7+ GPA. A few people have told me that if it wasn't for my academic stats, they wouldn't have bothered talking to someone from my school anyways. So if you're coming from a real nontarget, I'd try to get your GPA up too.
Anyone know what's going on in NYC regarding timing? Jw with Houston and SF recruiting being pushed up if NYC is following suit, or if any specific banks are
Everything is being pushed up.
Have heard that most NYC BB are doing interviews over the summer even before the school year starts
I know at my semi-target they're starting in August.
Word is that NYC resume drops will be starting as early as late May for some BBs with many conducting first round interviews before school starts back up in late August
Resume drops open in mid June. Top BB came through yesterday and told us at recruiting session.
are you target/geographical semi target?
Guess different BBs are having different resume drop dates. A top BB told us last week that they will accept resumes starting late May with a late August deadline. Also said earlier the better since they will start conducting first rounds before the deadline. This is at a non-target (send 15ish to BB each year at a small liberal arts college) btw so it might be different.
Probably a stupid question, but do banks have different resume drop dates for each school?
This is insane, resume drops starting late May? I previously though recruitment begins in October!
zsdvnm1 When are you going to NYC trip, with timelines this pushed, I'd assume early?
Late May? Most sophomore internships haven't started then... This is so fucking stupid.
GS, DB and JPM all have stopped by my semi target within the past month for 2018 recruiting
My friends, who just got offers for sophomore summer, are already recruiting for junior fall and summer recruitment.
keyboardwarrior Did connections/recruiters reach out personally offering accelerated interviewing?
No. It was simply due diligence, networking, and having a strong resume that really helped. Also, since it's the beginning, there isn't much competition, as is.
But the online application process hasn't started yet, unless it's through diversity events.
Was just told by HCM that the online GS application will open on July 15th, but accelerated recruitment is already underway for students with whom they've interacted with in the past
Yeah, all the reps I've spoken with have said this is the earliest they've ever done recruting. Off the top of my head, the banks that have visited: BBs: GS, Citi, JPM, MS, and BAML Boutiques: Evercore, Moelis, Jeffries, Guggenheim, BMO, RBC, Centerhill, and Nomura
GS has started some interviews already for us (ridiculous considering we haven't even started our internships for this year!)
Edit: Apologies, Centerhill isn't a thing. I didn't go to either Greenhill or Centerview's events, and merged them in my head while typing.
I lol'd at you calling BMO, RBC, and Nomura boutiques (also what the hell is Centerhill?) Is everything not a BB a boutique to you? Reminds me of this:
I'm legitimately curious what you mean by that. I'm well aware that BMO, RBC and Nomura are BBs in their respective countries, but their reps have outright stated they operate as boutiques in the US. If I'm missing something here, please explain.
Recruitment has "started" (in the sense that apps are open already). Some BBs have target school / accelerated recruitment apps closing in July - similar to last year but in this case they are not just for specific diversity programs.
Are the accelerated recruitment apps only for select candidates (those previously identified etc.)?
Man this is insane that recruiting is starting so early. A couple questions for anyone who can answer:
Let's say you submit your resume now, will be doing an internship this summer with a good brand name, do you include it on your resume? You can't really put any info because you haven't done anything yet, but you want that name on your resume right? What do you guys put?
When you do these recruiting trips to NY, how's the response rate from networking? Is it people you had already spoken to before and are contacting for the 2nd/3rd time for coffee or do you just cold-email and say you'll be in NY?
Thanks!
What I did was just put it first in my experience section, they can see the date clearly listed there and that I haven't started it yet. As for bullet points, since I haven't done anything yet, I just listed the division I'm in and the 3 rotations I'll be doing. But by the time I interview I will have completed it so I'll be able to talk much more in depth about it.
That sounds good but doesn't it look bad that you haven't even done your internship and are already applying to other places?
Since Recruiting seems to be incredibly fast paced and accelerated, what should us non-targets do? My assumption is to start networking like crazy right now? And follow Sil 's networking guide, but at an earlier pace?
My plan was to keep building a network, meeting them for coffee, and then around August/September start asking them that "what can I do to position myself for an internship interview" question. Should I instead start asking my already contacts that question around May/June (now)? How would that work with the contacts I am just starting to call, and haven't even met yet?
Any help is appreciated.
Not looking good
Any advice to improve the situation so it's better than "not looking good"? Opslivesmatter
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