Why is the hiring process in banking so bad?
I just received a rejection email so I'm a little butthurt so excuse the venting post.
Why should someone apply to 100s of jobs a receives zero response?
Why should I wait 3-4 weeks while HR gives me the run around for weeks and boom rejected?
I legit had the best interview to date (slam dunked the technicals questions, I bought up the company's deals, hell 2 of the interviewers played the same sport as me, and I brought examples of some of my deals) and still didn't get it....
Lol @ 2 interviewers played the same sport as me
Unless you are lateraling as an experienced professional, networking is really the only way to go.
I think people really underestimate this
It’s not just banking tbh. At my old real estate firm they legitimately called in this fat greasy dude for an interview just to fuck with our hiring manager as a joke. They never had any intention of hiring him or even taking him seriously. After the interview they all laughed at him over a conference call. The whole situation was pretty fucked up but I’m telling you this shit happens everywhere.
why tough? because he was fat?
idk maybe, they said he looked pretty ridiculous. I never met/saw him but I imagine he was just bad all around.
From my experience most of the positions they post (entry level and lower levels excluded) on the career pages are usually internal hires. They already know who they will choose internally but legally need to post the job and interview to create an "equal opportunity". Pretty much wasting everyone's time in the process because I've rarely come across a time they changed their minds because they were so impressed with the external candidate.
This is so true. I was actually promoted once and given an "interim" title. To make my new role permanent, they had to post the job description (which I had to write, mainly to make sure it pretty much lined with resume/experience exactly) and actually brought in two other "candidates" for multi-person interviews before they make me my new offer (this process was required by HR to get the pay bump associated with title increase). It was a waste of everyone's time, HR, the interviewers, and especially the candidates.
I've been in hiring manager type roles since then, there are always many steps HR and compliance makes happen. And yes, sometimes it involves posting jobs that aren't really "open". HR departments just need all that documentation (who applied, who interviewed, etc.) in case of audits by the EEOC.
God what a waste of time.
Its true that the system can be improved, but you also have to think about HR receiving thousands of candidates as it cost nothing to apply, they need at least to see you putting some effort on the process
I recruited for several BBs & EBs, MBB, FAANG and Tier 2 tech (Stripe, Palantir).
Finance & consulting process was head and shoulders above tech in my experience (and I'm a techie now).
There's nothing wrong with the process, you were either not good enough compared to the other candidates in some metric or it's just that they liked someone else better for whatever menial reason they chose. You're not special, and neither are 99% of people. Don't expect the selection process for what is in reality one of the top 1% of career paths to give you a fucking gold star and thank you for applying when there are literally tens of thousands of other people exactly like or better than you are vying for the exact same spot. You're not entitled to anything no matter how hard you worked in your classes, how much effort you put into your extracurriculars and studied for these interviews, because NONE of that matters in the real world once a job actually starts.
Believe me I get it, it's frustrating. I applied to over 1200 jobs my senior year, 30 first rounds, 5 superdays, and got NONE of those. Instead I ended up getting the job I have now through a random application and weird off-cycle process that involved a couple phone screens then a 3 hour modeling case interview with a Portfolio Manager. In all honesty it was complete luck that I even applied, I could've just easily decided not to hit submit on this one innocuous job posting on glassdoor.
Best thing you can do is quit the whininess, get back on the horse and keep applying. If you put in the work and know your shit the opportunity will come, but it will come in its own time.
hi, I agree. can you tell me more about corpdev as an analyst?
Thanks for the ass kicking. Still applying for other jobs.
for what position?
There is so much luck in the hiring process. I had a super day with half of the BB for IB and got rejected from almost all of them despite extreme networking and they were really impressed with my background. I randomly threw in an application for BB S&T and with barely any preparation I got the offer and leveraged that offer for IB. There are so many factors into this recruiting process that you cannot control.
legit, luck is like 99.99% of the process of recruiting.
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