Has anyone gone through both recruiting cycles and know what the major differences are? Below is what I've gathered, and I was wondering if there was any additional information the WSO community may have! Thanks.
UK / Europe vs US Recruiting
- Less emphasis on networking (I'm not exactly sure why, can anyone explain?)
- Timing is a little later and less condensed. Resume drops Sept, Superdays / ACs Oct - Dec, offers out in Dec
- Sometimes getting a masters is necessary for even a summer analyst role at a large bank (I saw this at the bulge bracket I was working at)
- Having previous experience at a boutique is less of a must than the US
- Less emphasis on a specific formatting style (in the US, most people follow the BIWS M&I template or something fairly similar, no fancy colors or anything)
Any further insight would be appreciated, thanks!
interested
Networking is huge in the US and is probably more important than the UK, although its still vital in the UK. It also seems that the proportion of SAs that come from the same targets etc in the US is higher than the UK/Europe, as applicants for UK are coming from many locations with vastly different backgrounds, education levels etc (I know this can also be said for the US given the number of top universities) . A lot of people do masters degrees in Europe as a route into the large banks, and will often be “older” than their US counterparts starting as an SA, although the traditional route is still SA after the penultimate year in university. Most banks in the UK typically require previous work experience, even at the SA level, and this seems consistent across all banks
Networking is definitely not vital in the UK. Most people get in not having done any networking whatsoever, at least not in the US sense. They may have attended some careers presentation or something.
Basically this^
Getting a masters is rarely necessary for an SA in the UK. Continental Europeans will tend to have it because over there a masters is basically a bachelor's these days. You're not seen as competent without one.
Would generally agree with your comments, but would add for the UK:
For continental Europe, would add:
Thank you for this reply, would you be open to setting up a short call?
Would rather remain anonymous, but happy to answer any questions you might have on here.
All great comments and I agree with them, having lived and worked in US/EU/UK. Just one thing to add:
In certain employment markets you will see a lot less demand and fewer applicants with MBAs. I have people in my network who work in MBB firms without an MBA, which is very unlikely in the "hot spots" where it is either expected or where there is a lot of competition for these roles. I know people with no MBA in FO jobs or in MBB firms in markets outside of London or NYC.
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