Comments (36)

Most Helpful
Jan 19, 2019

Not really. Sure the WSJ article from this past Fall brought awareness and the process will probably be a little slower this year, but all of my contacts are indicating or openly sharing with me that things are still going to ramp up hard this Spring.

I just went on office visits to virtually every BB/MM/EB a few weeks ago, and was given the scoop on recruiting as part of my university's program for select students pursuing careers on the street.

The general consensus is things are still accelerated. I know a lot of places are going to start phone screens next month.

Here's what I've gathered from my trip, this is 100% from reps/HR at these banks:

  • Moelis & Rothschild 2020 apps are open already
  • As you are aware, Gugg processes have already begun
  • Barclays has already opened their diversity apps and interviews are in March/April
  • Citi S&T will kick off, and be done in March at my school
  • CS apps will be opening soon, they are not slowing down from Spring recruiting
  • BAML, JP Morgan, and GS all are slowing down but definitely aren't gonna be "relaxed"
  • MS process kicks off in March at my school
  • WF actually moved to Fall
  • A lot of MM's are sticking to routine schedule: Jefferies, Houlihan, etc. are sticking to Summer/Fall

What I've gathered is that those pursuing SA '20 need to be ready for their interviews by the end of next month. Hopefully you've been networking, because you'll need your contacts in the coming months for resume pushes and the like. People who haven't networked at all when Spring comes around are basically screwed and are gonna have to rely on being the huge minority that get through from virtual resume screens alone.

"It is not our circumstance that controls us, but our thoughts that control our circumstance." -James Allen

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Jan 20, 2019

Any insight for FT recruiting?

Jan 20, 2019

FT will always late july/early august for networking events for EB with first rounds happening early to mid August.

Interviews occur around late august to early September for BB.

There will be occasional interviews that doesn't follow this norm and could be much later (Citi FIG around eary October) but generally timeline above will hold true

Jan 21, 2019

Hi,

Thanks for the helpful post.
I was not able to find the summer 2020 applications for gugg and Rothschild.
Do you know if they are taking applications online or are only recruiting at schools right now?

Array

Jan 19, 2019

Rothschild is online, look harder.

Gugg isn't online it's thru OCR

"It is not our circumstance that controls us, but our thoughts that control our circumstance." -James Allen

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Jan 20, 2019

UBS is heating up rn

Jan 20, 2019

For SA or FT?

Jan 21, 2019

Deloitte Corporate Finance is having a 2020 SA info session at my school next week

Jan 21, 2019

Do you know when they will be opening their online applications?

Array

Jan 21, 2019

I agree with @champagnepaki - I don't see it slowing down that much from when I recruited (last year). From the the guys on the Street I networked with, it sounds like Sophomore Spring/Summer recruiting is becoming the new Junior Fall. From what I've heard at my target, most EBs (Moelis, PJT, EVR, probably more) will continue to start late Spring, while most BBs will kick off Spring and go into Summer (similar to this year there will be Early and Regular processes). That being said, I expect there should be places up for grabs in Fall but less of them.

It's not hard to see why this is happening - moving first in recruiting has a lot of advantages. The kids ready to recruit in Spring are usually the rockstars at the top of their programs, in finance clubs and with prior finance experience already under their belt, and they're given narrow deadlines to respond to offers so they can't shop around (sometimes only 1-2 weeks). Banks waiting too late in the process to begin are going to lose out on some of this talent, so as soon as a few banks start pushing up their timelines, there's incentive for everyone to start doing so.

As a student of course, it sucks - many interviews my friends and I had were before we had even started our sophomore summer jobs. This means there's more attention paid to what little else is left on sophomore resumes - Freshman summer, your grades and your ECAs - which is a depressing turn of affairs. Good luck, feel free to PM for more info.

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Jan 20, 2019

Any insight on the FT recruiting process?

Jan 21, 2019

Haven't been asking about FT, but I would presume mid-late Summer like normal. I don't think there's any point starting before people have began their Junior SA stints.

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Jan 27, 2019

Has anyone found a main SA 2020 thread yet? This could be it.

Jan 19, 2019

Agree we should make this the SA2020 thread. Post your updates here

"It is not our circumstance that controls us, but our thoughts that control our circumstance." -James Allen

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Jan 20, 2019

I would be happy to convert this to a SA 2020 thread, just need mods to update the title.

Jan 28, 2019

Man am I glad I never have to go through recruiting again when I see threads like this; best of luck

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Jan 28, 2019

Anyone know who's sponsoring this year?

Jan 29, 2019

Incoming SA 2019 International student here. From my experience, the following banks were sponsoring:
- J.P. Morgan
- Citi
- Nomura
- RBC
- Barclays
- BAML
- Jefferies
- Mizuho
- Evercore

Also, I have heard cases of students getting offers at MM/smaller boutiques if they networked well.

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Jan 28, 2019

Thanks for the reply! One guy I talked to told me that sponsorship is by location basis where Houston office is less likely to take internationals than NY office for the same bank. Do you know if that's true?

Feb 9, 2019

Barclays does not sponsor - it said that in the applications

Jan 29, 2019

I am thoroughly dissapointed with the misleading claims from those articles claiming that the timeline would be pushed back...

I go to a target and they are already recruiting the class below me (C/O 2021) at several banks:
- Goldman Sachs
- William Blair
- Citi
- Bank of America
- Credit Suisse

The worst part is that each of these banks re-recruited because they didn't like their initial SA class as a result of inexperience and lack of motivation to apply 15 months ahead of time. If banks keep this up, there will be a much faster exodus from this industry than initially expected.

Jan 29, 2019
MarkBaum:

I am thoroughly dissapointed with the misleading claims from those articles claiming that the timeline would be pushed back...

I go to a target and they are already recruiting the class below me (C/O 2021) at several banks:
- Goldman Sachs
- William Blair
- Citi
- Bank of America
- Credit Suisse

The worst part is that each of these banks re-recruited because they didn't like their initial SA class as a result of inexperience and lack of motivation to apply 15 months ahead of time. If banks keep this up, there will be a much faster exodus from this industry than initially expected.

wow - do you mean that the they rescinded offers and just re-recruited a new class?

Jan 29, 2019

They took half of their class early and ended up doing very accelerated interviews in the fall.

Jan 19, 2019

While I agree about how wack recruiting is, there will be no exodus from anytime soon. There is still an insane demand for the spots open for SAs every year, and this accelerated timeline helps banks find the kids that are on top of things and really really want to be there/do this. Kids aren't gonna stop applying to IB's because they recruit early.

"It is not our circumstance that controls us, but our thoughts that control our circumstance." -James Allen

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Jan 29, 2019

I agree there is still demand but there is also a lot of unknowability in this regard. If you think about it, a lot of sophomores still have yet to declare their major or find out much regarding full-time work. They're generally unaware and don't exactly have enough experience to know what they want to do when they graduate. There's a lot of good, qualified talent that goes unseen as a result of pushing up the timeline.

Also in most cases, accelerated timelines have now been accepted as the standard as most banks start having info sessions in January of Sophomore year.

Jan 29, 2019

d

Jan 29, 2019

no

Feb 3, 2019

Can confirm that many of the BB's have started the recruitment process. Goldman is having it's first official diversity recruitment event for summer 2020 this week.

Feb 6, 2019

Lot's of misunderstanding her as to what happened for the 2019 class and the expectation for 2020.

2019SA - Banks came down with the expectation that they could fill 50-75% of their SA class in the spring and the remainder in the fall (after people had had sophmore internships). Once they knew exact class sizes they did more or less recruiting in the fall. There was a lot of attrition in people who had accepted offers, so some even did a "third round" in the fall just to top up SAs.

2020SA - Was going to be on the same schedule, then rumored not to be. The truth is this year there is no real consistency and a bit of a game of chicken to see when people start non-diversity hiring. Goldman has always had super early diversity hiring. Current thought at most places is to do diversity in the next few months, see what sorts of other candidates we see and make a game time.

TLDR No one likes spring recruiting, but it may still happen.

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Jan 28, 2019

TPH, GS, BAML have all came to campus this week, but all said that first round starts in late August and will finish in early September. I would assume that banks will take some kids in May and June but most of the interviews will be held in early fall.

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