Non Target Friendly EBs

Current soph Interning at a BB IBD for my soph summer, non-diversity, very non-target ..what EBs should I target for SA 2022?

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Comments (118)

  • Intern in IB - Cov
Dec 15, 2020 - 5:01pm

Also have very strong technicals knowledge and can cold email until my fingers fall off

Most Helpful
  • Analyst 1 in IB-M&A
Dec 15, 2020 - 5:37pm

> I hear Centerview hates us 

We all do. 

In seriousness, it's called a non-target for a reason. It's going to be an uphill battle everywhere, but you can definitely still get something. There's no value in someone telling you a bank is more "non-target friendly". Just put in the effort and shoot your shot at all of them. Good luck. 

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  • Intern in IB - Gen
Dec 15, 2020 - 5:17pm

They're all brutal to non-targets. Gotta have a few senior people pulling for you, I'm sure you'll stand out with a BB IBD experience

  • Analyst 2 in IB-M&A
Dec 15, 2020 - 6:06pm

Just convince Moelis you'll be ready to grind 24/7 - they love scrappy non-target kids because they typically have a chip on their shoulder.

Dec 15, 2020 - 5:50pm

It'll be tough but doable at any EB, especially given that you'll already have a BB internship before your junior summer. My guess is the toughest ones to break into as a non-target would be the newer boutiques like Raine, Liontree, M Klein. PJ Solomon is another one where they seem to exclusively recruit students from schools like Harvard or Michigan. If you're talking about a more established boutique like a Moelis, LazardEvercore, it will definitely be possible to get into the interview process through networking with people at those firms. 

Array
  • 4
Dec 15, 2020 - 6:00pm

Happy to help! would also add that Qatalyst takes a suprisingly large amount of people from non-ivy league schools, so if you have a vested interest in tech banking specifically, I would try reaching out to people who work there 

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  • 2
  • Intern in IB - Cov
Dec 15, 2020 - 6:35pm

also if anybody could comment who calls the shots mainly for EB recruiting for BBs it was mostly As/ASo, any difference at EBs?

  • Analyst 1 in S&T - Equities
Dec 15, 2020 - 7:01pm

Guys, I know it is the nature of how the brain works to speculate but this stuff is pretty random. Apply to and network with all of them, it is all there is to it. There is a lot going on behind the scenes that you don't know about. Which MD is pulling for his alma matter which may be a semi-target or whatever...Trying to answer these questions is at best very difficult because there are 1mm different dynamics at play and it changes over time.

  • Analyst 1 in IB - Gen
Dec 16, 2020 - 8:59am

Pretty much all of the banks less PJT take a fair amount of non-target kids. Centerview is elite but tough to target, since their recruiting is so late. Hopefully you have an offer from somewhere else by then...just network your ass off everywhere and you will be fine (speaking from personal experience).

  • Intern in IB - Cov
Dec 16, 2020 - 10:40am

Thank you,  I have no alumni in any of these firms but lots of nontarget people usually reply back hope more do when I say I'm an incoming  BB IBD SA so they know I'm competent 

Dec 16, 2020 - 11:28am

PWP, Moelis, and Evercore seem to take non-targets. PWP takes basically 70% of the class via their diversity program where they are a bit more nicer on non-targets. Moelis cares really about the person and the mentality and some non-targets cut it cause they grind a lot as you can imagine. Evercore has a lot of group besides M&A and RX that takes non-core. 

  • Intern in IB - Gen
Dec 16, 2020 - 11:31am

PWP and Moelis are very open to "untraditional" schools (i.e. not your typical targets). On the other end of the spectrum, Evercore and Lazard are probably the least friendly (very heavy on targets) 

  • Intern in IB - Gen
Dec 16, 2020 - 6:19pm

Moelis has its own set of targets that it heavily recruits from... like UMich, UPenn, Harvard, IU Kelley, and UT Austin. Not all are mainstream targets but for Moelis they are

  • Intern in IB - Gen
Dec 17, 2020 - 2:02am

Not all are mainstream targets but for Moelis they are

Thank you for confirming that Moelis is open to non-traditional schools like IU Kelley, which isn't a target but gets recruiting from Moelis

  • Prospect in IB - Gen
Dec 16, 2020 - 4:59pm

Looking at the CVP superday list for 2021 this year, like 70% of the kids came from Ivy+, 20% from top public schools, and the remaining 10% from the most random assortment of schools I've seen in finance. Don't know how the actual SA class turned out school wise but the firm is clearly open to interviewing people from wherever, just need to get the interview.

  • Prospect in IB - Gen
Dec 16, 2020 - 5:18pm

I do not, but everyone from analysts to the co-founders were involved in the superday so I'd guess it's rather holistic.

  • Analyst 2 in IB - Cov
Dec 16, 2020 - 5:19pm

CVP is really interesting. Obviously majority representation from the Ivy's but if you check LinkedIn, you'll find kids from random schools like Amherst, SMU and Illinois.

Their interview process is really tough but if you can get through it, they don't seem like they discriminate. 

Don't know if one specific person "runs" the interview process. Seniors are super involved throughout. 

  • Intern in RE - Comm
Dec 22, 2020 - 2:10am

Maybe someone mentioned it above, but I know Ducera Partners is very friendly to non-targets. Their analysts are almost all non-targets or semi-targets. Fantastic restructuring group. They are probably not considered an "elite" boutique, but definitely a good learning experience. my brother worked there for a few years 

  • Analyst 1 in IB-M&A
Dec 29, 2020 - 6:16pm

Non-target here at an EB.  I found at least a couple people at all firms willing to network, with the exception of Evercore NYC.  Talked with some people from EVR menlo, but never got responses from NYC.  Who knows.  Another note--I generally found that people at smaller firms were more willing to chat than those at BBs.

In general, it's just about networking your ass off and building some level of familiarity with people at the firm--at the firm I'm currently at, I had spoken to 8-10 people from analyst up to VP in multiple industry groups (and met a few of them for coffee) before I walked into my SA superday.  At that point, you're nearly on home turf and it's difficult to blow the interview.

Dec 29, 2020 - 10:44pm

Rich handler posted something on his IG with JEF numbers and having something like 60% of incoming AS1s being from non-target schools. Idk anything about the culture/work life balance/etc. but hope this helps

  • Intern in IB - Gen
Dec 30, 2020 - 3:18am

you gotta understand this is similar for all large banks because "official" target schools are often only ~8-12 schools at 2-3+ analysts each. for an analyst class size around 80, most other candidates are "non targets" 

technically speaking, harvard is a "non target" at jefferies

Jan 22, 2021 - 3:55pm

Someone mentioned that it will be hard to recruit at EBs if you have a sophomore BB internship. Can someone explain why? I am interning at a top MM bank for my sophomore internship, but will that only put me at an advantage? 

Jan 22, 2021 - 4:10pm

A BB sophomore IB internship would put anyone at a strong advantage. Whoever said that must be very insecure.

Array

Jan 22, 2021 - 4:57pm

Confirming that this shouldn't be an issue. Currently at an EB and the vast majority of my analyst class when I was a SA had prior internships in the space so a BB sophomore position wouldn't hurt you at all (it would help IMO)

Jan 22, 2021 - 5:02pm

Got it, must have misinterpreted what they said. Is a top sophomore banking MM internship still a strong advantage, just given brand name and selectivity? 

  • Analyst 1 in IB-M&A
Jan 22, 2021 - 8:07pm

You're stressing too much over this. It's relevant experience and a recognized name, so it will help. 

Jan 22, 2021 - 10:18pm

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  • Intern in IB - Gen
May 29, 2021 - 9:37pm

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May 30, 2021 - 10:01pm

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