London - How does recruiting for summers again work?
Hi folks, would be super grateful for your insight. How does the process work if you're on a 3 year degree, do a summer after year 2, don't convert, and try to re-recruit for summers again? I hear on WSO that London FT recruiting is hellish, so it's best to do a Masters and apply for summers again. I had a few questions about how this works:
1. How do you signal on applications that you'll be doing a Masters to avoid getting auto-dinged by an incorrect grad date? Most portals don't have an option to select future education, so what do you do?
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Since you won't have any Masters offers by the time your SA applications go out, does your choice of Masters programme matter much? Is your target/non-target status then just based on your undergrad university? Does this mean you can apply for a non-Finance Masters and be fine?
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Is it easier or harder when re-recruiting? You have better technicals and more experience, but how badly is not getting a return offer held against you? Also, if you did your first summer on the buyside but now re-recruit for the sellside, is that viewed with suspicion?
Thank you very much! I'd be very grateful for any other anecdotes or insights on this.
1) In my experience (just an intern) put masters in your CV and the grad date that won’t get you auto rejected in the portal. You can email HR too if you want to be safe. this is what worked for me.
For 2, if that’s the case why does the idea of a target and non target masters programs even exist?
Genuinely curious to know
I guess that’s when you’re applying for things while doing your masters. It doesn’t make sense to have masters targets in mind when you don’t even have a masters offer yet.
Thank you so much - this is incredibly helpful! Wanted to quickly check what you meant by conversion in point 2, and what easier to re-recruit than not to means (i.e., are you saying summers are easier than FT)? Thank you very much in advance!
I’m saying that if you are just looking to convert then your choice of masters won’t really matter much. If however you are going for another internship / role afterwards then of course it might matter. As for re-recruitment I meant applying for summers again. I’d say it’s easier to apply for summers than FT in most cases. What I really meant was relative to someone who hasn’t done a summer, you’ll find it easier to find a summer, even if you didn’t convert as long as the summer was a good one. Do be prepared to potentially talk about the fact you did not convert and have a really strong case for them to take you though.
I’m saying that if you are just looking to convert then your choice of masters won’t really matter much. If however you are going for another internship / role afterwards then of course it might matter. As for re-recruitment I meant applying for summers again. I’d say it’s easier to apply for summers than FT in most cases. What I really meant was relative to someone who hasn’t done a summer, you’ll find it easier to find a summer, even if you didn’t convert as long as the summer was a good one. Do be prepared to potentially talk about the fact you did not convert and have a really strong case for them to take you though.
I’m saying that if you are just looking to convert then your choice of masters won’t really matter much. If however you are going for another internship / role afterwards then of course it might matter. As for re-recruitment I meant applying for summers again. I’d say it’s easier to apply for summers than FT in most cases. What I really meant was relative to someone who hasn’t done a summer, you’ll find it easier to find a summer, even if you didn’t convert as long as the summer was a good one. Do be prepared to potentially talk about the fact you did not convert and have a really strong case for them to take you though.
There are several banks that allow final years to apply. If you don't wanna bother with the masters thing, I suggest asking HR on their stance here or reading the job reqs in depth. From my knowledge: JPM, MS, UBS, Citi, Barclays all allow final years to apply for SAs, no strings attached.
Otherwise it's as simple as "planned masters" in the education section and add a year to your graduation year when doing the application.
Thanks, that is very reassuring! Just to confirm, you're referring to the Education section of the CV, right?
Yes
del
PJT also has significant chunk of class in final year and converts to FT straight after internship
When I was in final year and planning to do a masters, I just added a section for MSc Finance with a description saying that I am currently applying for masters programmes commencing on x date.
Thanks! What did you put for your grad date on the application portals, and did you have any luck?
Great so now first years have double the competition. Recruiting is so cooked.
???
Final years have always been applying for SA roles, get over yourself.
Get good kid
Yh mb man I have it all figured out.
for springs:
1st year of three year degree
—> switch to 4 year
2nd year of four year degree
—> ‘plan’ masters
3rd year of four year degree
—> do a different masters (2 years instead of 1)
4th year of four year degree
—> do any masters
first year masters degree
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