Worth Extending Graduation to Re-Recruit?

Going to be interning at a lower tier BB next summer (think DB/UBS/WF) outside of NYC and wondering if this is a good spot to go to for FT?

Or should I start trying to re-recruit to a top BB/EB for summer 2023? I'm scheduled to graduate at that time as of now. The other option would be to try and recruit elsewhere for FT, but I'm not sure how easy this would be?

Ultimately, my long-term goal is to end up in MF or UMM PE, and I want to best position myself to get there ASAP.

How feasible is making the switch from a lower-tier BB to a GS/MS/JPM?

Appreciate any input! (Non-target, lots of work experience, very involved in ECs, if at all relevant)

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Comments (10)

  • Analyst 2 in IB - Gen
Oct 14, 2021 - 12:57am

doubtful about WF, but there are a decent handful of people from UBS, DB who end up at MF, UMM every year. As much as GS? No. But a sizeable handful forsure. 

  • Incoming Analyst in IB-M&A
Oct 14, 2021 - 1:02am

Even outside of NYC? I realize that I can eventually transfer but don't know if it's worth it. At that point I can probably just recruit for an upper-tier bank and move faster?

  • Analyst 1 in IB-M&A
Oct 14, 2021 - 1:12am

I'm at a mid-tier MM bank and have gotten multiple unsolicited calls/emails from recruiters at a few more prestigious banks (BB and EB) within the first 6 months. I don't have a desire to go buy-side or lateral yet, so I can't comment on the process. However, seems like a waste of time and money to delay graduation. Also, you could try FT recruiting.

Oct 14, 2021 - 1:12am

Can provide some insight here since I was in a similar position (albeit for quite different reasons). I think rerecruiting, should you chose to do it, is a pretty worthwhile option given your goals of MF/UMM PE. I would consider pushing graduation back a semester and rerecruiting for 2023 at BX, top EBs and higher-tier BBs and definitely would explore the lateral market after your summer if you strike out there.

Outcome is likely contingent on too many other factors beyond having a BB internship, but it definitely is a good "sophomore summer" internship. Feel free to PM as well

  • Intern in IB - Gen
Oct 14, 2021 - 1:13am

Re-apply using the later grad date on your resume.

If you don't land the role you want then graduate at your original date.

No one is going to do a deep dive and actually find out if you're going to be "graduating too early" before even extending you an offer

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  • Intern in IB - Gen
Oct 14, 2021 - 2:04am

Problem with this is you can only apply to either FT or SA 2023, so he has to choose.

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  • Intern in IB - Gen
Oct 14, 2021 - 2:14am

I went through the process of delaying graduation by a semester so I can provide some insight. For me, it was a no brainer. I was able to go from a ~3.0 GPA and no internships to a 3.4 GPA and two IB internships (spring at a boutique and summer at a LMM). Doing so changed my life/career forever as I recently signed with a top BB with a top group for SA 2022. 

I think if you choose to delay graduation and re-recruit you would be one of the top candidates in the process having any of DB/UBS/WF on your resume and have a decent shot if you network hard at all the top EB's/BB's and even MF/UMM PE firms.

However, in your case, I think that lateraling and recruiting FT makes more sense. I know plenty of people that came from a "lower-tier BB" to GS/MS/JPM, the EB's less so. Personally, friends with 3 people that I can think of that came from lower tier BB's/MM's to GS TMT/JPM M&A whether for FT or lateraling after 6 months. At the end of the day, if you are a good candidate (good stats, EC's, and network hard, etc), you will be able to go to where you want to be during FT recruiting. If you want to take the risk averse path then I would re-recruit and delay, but honestly think you have a good chance at FT or lateraling. 

  • Intern in IB-M&A
Oct 15, 2021 - 12:13am

I am also your age and will be in a very similar position. On the surface level I think it sounds easier to delay and re-recruit for SA, but first off recruiting sucks and do I really want to go through another summer analyst program of sucking dick for a FT offer? More importantly, analysts and even summer analysts are heading for the buy-side earlier and earlier. Attrition is at an all time high so I think there will be a lot more spots open for FT classes.

On the flip side, is there a chance banks are hiring tons of summer analysts now because deal flow is so high? If it slows down in the next 1-2 years then those banks will be over capacity and FT recruiting would be extremely competitive. Curious to hear other opinions on this though.

  • Incoming Analyst in IB-M&A
Oct 15, 2021 - 9:42am

Agree with attrition being at an all-time high, but that's largely due to juniors being grinded from the insane deal flow and WFH (or so I've been told)

In a year from now, I wonder if that will still be the case? If so, then it'll be beneficial

  • Intern in IB - Gen
Oct 18, 2021 - 11:57pm

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