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  • Prospect in IB - CB
May 5, 2021 - 11:37pm

Applied to MIRA and networked- haven't heard back. Target, non-diversity

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  • Analyst 1 in IB-M&A
Jul 9, 2021 - 2:39pm

Target school kids have an easier time getting noticed like any bank, but in my experience Macquarie's been more focused on GPA and general intelligence than pedigree. MacCap's regular superday last year had people from Ivy Leagues, state schools, and everything in between. Lots of finance/econ majors but a heavy dose of math/engineering and liberal arts as well. People from all those backgrounds made it through.

 Interview process was pretty rigorous, with GPA weighing heavily on success during the resume screen. First round was an IQ test with components similar to (though more difficult than) Mensa-style tests. Second round was a phone call with basic fit and technical/brainteaser questions. Superday varies depending on interviewers, though technicals are normally fairly difficult and nailing the fit portion is essential for an offer. 

That being said, after you get into the process, your school's importance goes out the door, and you're left to your wits. There's no quota for how many non-targets they take, and many non-targets make it through every year. From what I've seen, all the interns share the same intelligence and mindset that the bank's after, and that's what they try to target more than anything else. 

  • Analyst 1 in IB-M&A
Jul 11, 2021 - 2:57pm

Realistically, you're going to be hard-pressed to find banks that will take a chance on an applicant from any school with a 3.4 GPA without strong experience, extensive networking, or one hell of a story. In the case of some banks, resume screening software won't push through a resume for consideration without a 3.5 or better. If you're interested in Macquarie, reach out to analysts and get your name out there so you have a shot at someone pushing you through to interviews.

I also came from a nontarget which is why I said school background isn't essential. The difference was that I had a 4.0, applied sight unseen, and got an offer without any networking. I got extremely lucky. Looking back, it was a stupid thing to do, and I would never recommend anyone follow that path. Regardless, most of the interns I spoke with had high GPAs (3.8+) or had alums/close connections pushing for them every step of the way. 

To answer your question, not only is it worth it to network there, it's absolutely essential to have a shot. Whether you have the time and resources to commit to it is entirely up to you and your interest in the bank. 

  • Prospect in IB - Gen
Jul 14, 2021 - 7:43pm

Can we apply to the normal round if we applied and (presumably got rejected) from the accelerated round? I applied MIRA accelerated but I might apply to the IBD this round if possible.

  • Analyst 1 in IB - Gen
Jul 15, 2021 - 10:32am

Macquarie NYC is horrible, except the IEG group, which you can only get into if you have deep ties with current members (like alumni or family).

Last summer, they pretty much only gave return offers to 1/4 of their intern class. Further, in the following months they proceeded to downsize their IB and laid off 40% - 60% of IB employees and combined a bunch of groups together. It's a shit show there.

Source: I interned there last year and kept in touch with many analysts who got laid off / lateraled. HR are a bunch of elitists - they took a month after the last day to give us our return offers, and kept delaying it each week. I didn't end up getting one, but I def dodged a bullet and now work at an EB.

  • Analyst 1 in IB - Gen
Jul 15, 2021 - 2:05pm

Yeah sorry should've clarified - this is MacCap.

MIRA on the other hand is a solid place to be for Infrastructure PE.

  • Analyst 1 in IB-M&A
Jul 17, 2021 - 1:03am

LOL can't get into IEG unless you have alumni or family connections? Riddle me this: how does a group composed of mainly Australians from VP up and juniors from multiple countries require family or alumni connections to get placed in the U.S.? Most of the interns I talked to didn't network within IEG much, if any, during placement - they just ranked those teams first. 

What happened last summer was shitty, and you have every right to be mad. Though from what I understand, the teams that got cut had substantial performance downturns during the pandemic and weren't generating enough revenue to stay afloat. Even some of the top non-IEG teams turned into sweaty pitch-fests. They cut the underperforming teams and moved on, that's how business works. 

  • Analyst 1 in IB - Gen
Jul 17, 2021 - 1:32am

That's my point exactly, why would you pursue a declining firm? It's not worth it unless you join IEG.

And you're wrong, majority of the interns shared schools with current A&A's. So my point still stands. VPs and above don't really influence recruiting.

  • Intern in IB-M&A
Jul 17, 2021 - 9:52am

Thank you for sharing your experience at Macquarie. Can you shed some light on your FT recruiting process after not getting the return offer? I've heard that it's pretty tough for anyone to go about the FT process, more so if you don't get a return -- would appreciate if you could share how you went about the process so successfully (Macquarie to EB is very impressive) 

  • Incoming Analyst in IB - Cov
Jul 16, 2021 - 5:58am

Interviewed a strong non-diversity kid last week. I wasn't given any background on the process or how his resume got on my desk so I'm not sure whether the candidate was accelerated or networked heavily. When we kickstart recruiting it usually moves pretty fast. Strong candidates are usually interviewed first and the turnaround is less than a week. I honestly haven't met a single person that says, "hey, we are interviewing the target kids this week and the non-targets next week". If you are smart, know your shit and I like you, I genuinely dgaf where you go to school. You could live in middle of nowhere Iowa for all I care. Macquarie usually works the same way, if you have a high GPA and do well on the initial screen, your school matters less and less. I went to a top 3 school and networked pretty heavily because I genuinely liked the bank and an analyst ended up referring me directly to HR. I don't think the name of my school was mentioned or seen until 1st round or SD. Gotta get that non-target mentality out of your head ASAP. Good luck!

  • Intern in IB - Gen
Jul 16, 2021 - 3:28pm

I get that, thank you so much. Sometimes it gets to my head.

But in general is Macquarie doing recruiting? Had an analyst push for me and send my resume over to HR but haven't heard anything yet for NY

Sep 2, 2021 - 2:05pm

Anyone got a 1st round?

just wanna land an internship
  • Intern in IB - Gen
Sep 13, 2021 - 7:03pm

Received an offer this past week out of their Chicago office. Process was very accelerated.

  • Prospect in IB - Gen
Sep 20, 2021 - 6:39am

Honestly i would say it depends on strength of the boutique and what ur industry interests are, Maccap isn't too good 

  • Prospect in IB-M&A
Sep 20, 2021 - 3:33pm

Would recommend anyone interested in PE to apply to MIRA rather than MacCap. The latter is decent in Infra advisory whilst MIRA is one of the best PE funds for Infra with continuous exits to KKR, Carlyle etc

  • Prospect in IB - Gen
Sep 21, 2021 - 4:46am

Has anyone else had their 1st rounds yet? ANyone know about timeline or when to expect to hear back?

Sep 22, 2021 - 8:43pm

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