2021 SUMMER ANALYST RECRUITING THREAD

Hi everyone, I am a current sophomore looking to break into IB. Let's start a thread with relevant deadlines for 2021 SA. Post BB, MM, and EB application openings for 2021 SA positions. For example, I know Piper Jaffray is opening April 2020 for their 2021 SA class. Best of Luck!

 

recruiting timelines have exactly 0 to do with when we host information sessions

 

The thing that blows my mind is how much my resume/experience improved between the fall and spring of my sophomore year. Banks are shooting themselves in the foot by going this early

Array
 

Bump - I am currently a sophomore looking at IB internships for 2021 summer and just started networking for BB, middle market and some boutique companies. I know that applications are not out yet for most of these and do start in early spring or even January, but does anyone have an idea of specific timeline for these banks? Really would appreciate input.

 

Not quite, but they are a lower BB now in the US on par with UBS (though growing faster particularly in M&A)

 

alot of hate on rbc it appears. i Heard they were definitely ahead of wells fargo and DB, meaning they should be classified as a BB. as UBS and CS are the next two on the block, id say RBC should be close to them ..

 

Guggenheim just opened 2024 summer analyst apps, but they might've finished up already according to my 7th grade brother.

 

To my understanding, if you have networked, and you are competitive then no. But if you don't fulfill the above criteria, then yes.

 

Do you think it's alright for me (non-target) to continue to network and get some more referrals in at these early firms (CS, Citi, RBC) and apply sometime around early/mid-March? Or would that be too late?

 

An associate at Baird reached out to me for a phone screen last screen; when I ave him possible dates and times to talk he never answered. Someone help me naviagate the situation. I already sent a follow up this morning and have still not received a response.

 
Controversial

Just do add some perspective. I have been through 3 recruiting cycles. Sophomore, Junior, and FT. In all three cycles I realized early on that networking was a waste of time. I am a non target with 0 alumni and not a diversity candidate. I was grinding day and night to get on the phone with analysts to MD's that would respond to my emails because after reading this forum 24/7 I was conivced that the word of random internet people had to be the truth. Each phone call I had was just a repeat of each other and would result in someone passing on my resume, giving me a solid no, or telling me they would keep me in mind. No phone call or interaction resulted in an offer or getting me close to an offer but sure as hell prepared me to get offers because I developed the skills to speak with professionals.

After realizing that networking was a waste of time, I focused on my resume and making sure it was better than all of the target school resume's. I participated in any competition that I could qualify for, started studying CFA, taking advanced classes (MSF and MBA) apart from my regular class load, etc.

During Sophomore year recruiting I was focused on networking and did not get an offer at a BB. Did not even get close to a BB offer. Finessed a shitty cold calling/sourcing role for a small boutique but spinned it into something sexy on the resume.

Junior Year recruiting. By this time I had a stellar resume and applied to eveything that I possibly could. I would say my application to interview rate was 4/10 and offer rate was 9/10. Interviews were cake and I ended up flying to London, Zurich, NYC, Miami, etc all the time. Ended up accepting top BB team in NYC.

FT recruiting. Landed several PE interviews again with 0 networking just applying to shit online. Received offer from "ok" MM PE but decided to stay in IBanking but change group. (I am getting my dream MBA paid for by staying!)

Best advice I can give a non-target is do not worry what people say on this forum and do not compare yourself to others. At the end of the day, it does not matter whether you networked or not because if you do not know your technicals, you will not get hired. As simple as that. And for any person still wondering if Networking is worth it, as someone who has been working for a year now and has participated in the recruiting process, HR has more power than us the actual employees. You can have the CEO or MD refer you and pull for you but if HR says " fuck this kid in particular" your recruiting process is over. I have tried to refer so many of my fellow alums or undergrads and I can set them up through our internal portal but HR has final say on who gets interviewed.

 

Thank you for the insight. Quick question to you. Since recruiting today is so spread out, would you recommend someone to take an offer early although it may not be his first choice?. There is a thread about Baird already starting phone screens. If one's goal is to work at a BB/EB, should the person take the offer from Baird or reject it and keep recruiting?

 

So the person is you. At the end of the day, once you work in the industry no one cares about ranking but they do care about the quality of your work and the deal exposure you have. Is group ranking related to deal exposure? Yes! but are exit opps limited to those in groups with good deal flow? No! It is down to what YOU want to do and what YOU want to accomplish. People think that if you IB you automatically get into PE. That is completely false. You only get into PE if you are in a handful of IB teams.

If you interview with a firm and love the vibe, the culture, the people, etc. Take the job! Why would you risk something you have for certain that you like for something that you do not have and may not like? Objectively speaking, there is more downside than upside.

Follow what YOU want to do, where YOU want to go, and what YOU think you should do. The same way you grinded for an IB job, you need to grind for a PE job or whatever exit you are looking for. Do not go to WSO to ask for career advice and base your decision on what people on this forum say. It is down to the individual to make decisions and if YOU think those decisions are in YOUR best interest then CONGRATULATIONS, you made it.

 

Anyone can pick up a WSO guide and memorize answers. At the end of the day, anyone can master technicals through repetition. To truly stand out or differentiate yourself you need to not only know the technicals but actually understand them. Develop opinions on why things occur and what is the driver for them occuring. Think on a bigger scale and connect the dots from a macro point of view. Everything is connected, it is down to you to find out how.

 

so what top BB are you at that's paying your dream MBA as an An1? None of them do this, they'll just promote you directly to Associate. edit: some might based on the reply, but for IB it would still be uncommon to go to MBA over Associate

and who was flying you to london and zurich? (NYC sure, Miami there's not a ton of IB/PE presence but I'm sure your spring break there was fun)

Improving resume is a good recommendation but don't try and say you're the Recruiting God living the DREAM LIFE because you got very lucky applying en masse. 99% of non targets get in via networking and it'

Array
 

Happy to answer but for obvious reasons wont go into too much detail. I completely understand where your skepticism comes from. I too would question what I posted if it was some random internet person.

I was born in Paris and moved to the U.S for Highschool and University. I speak Good enough English, fluent French, and little bit of Italian. Because of the EU passport I was able to get interviews, attend assessment centres, and get offers. I am in no way a wealthy person or have a wealth family. I would consider myself middle class with most of my family working slightly above average jobs. Having the E.U passport really set me apart every step of the way.

I am in no ways the recruiting God. Truth be told, hard work is 40% of the formula to success and 60% is luck, being in the right place at the right time, and catching people in a good mood. If it were not for this site and its resources I would not have had success.

For the MBA question, my firm does an internal manager/training program where you do 2-4 years first and then they send you to do an MBA in the city in which you are in. I do not see myself working in IB for the longterm and want to work in government/policy/economics/finances. The team I was moved to is in the same city as the MBA program I could HYPOTHETICALLY go to assuming I do well in the next year and is known for producing good students for government roles so it is my dream school. Frankly, I have even thought of doing a Masters and PhD in Econ.

 

Near pefect GPA. PLacing well in competitions, conferences, conducting research with professors, certifications like CFA. I did everything and anything to make me stand out.

 

I would sign to Moelis if they gave me an offer. I’d cancel the rest of my superdays if I had any lol. they kinda gave hope to nontargets earlier on the call too which was cool

 

Current Soph here in same position. Got advice from a lot of people to network beforehand and get those referrals confirmed, but to also send in apps at a decent date (so not late enough where it's day before it's due but not extremely early where you have no time to network). Definitely need some more insight on this

 

how prepared is everyone for technical questions? Should I be cramming right now or is it okay to study during the summer?

 

I wouldn't say you need to be cramming now, but I would definitely allocate 3-5 hours each week starting now. It takes time for the information to "soak" into you, and the more prepared you are, the better you'll come off in interviews...more polished.

"Markets can stay irrational longer than you can stay solvent."
 

Apps were due Sunday, first rounds starting soon, 3-5 phone calls then super day but tbh not sure on timeline because of COVID-19, things are changing

 

Incidunt quas accusamus provident voluptas odit voluptates soluta. Sunt eos porro dolorum repudiandae ipsum. Quia expedita soluta vitae exercitationem velit. Rerum exercitationem et maxime.

Voluptas error beatae ut corporis. Accusamus placeat repellendus officiis mollitia.

Praesentium nihil natus cum aliquid sed. Quisquam omnis quasi ea perferendis voluptatem omnis. Itaque dolores perspiciatis non magnam nisi magni distinctio. Delectus et eaque et sit dolorum laudantium. Sint et et similique voluptatem.

Ratione vitae ut sequi autem numquam. Amet qui rerum nemo et iure labore ut. Ut dolorem omnis blanditiis ea nemo.

 

Qui vero fugiat unde et. Aspernatur ad veniam est ut quis sit. Aliquid officiis nihil delectus voluptatem doloribus aut quia ea. Nihil cumque excepturi accusantium enim aliquam provident.

Odit vero pariatur possimus in fugiat et dolor. Cum qui tenetur ipsa. Ut nihil officiis debitis et sit occaecati quibusdam. Non dolorem ipsum accusantium ducimus accusamus velit quia. Ut vel veritatis consequuntur et autem quis.

 

Incidunt et corporis occaecati quo neque iure. Iure adipisci ab quisquam molestiae omnis. Enim qui dolor ut qui sit in.

Dolores mollitia corporis iusto quia qui. Exercitationem nostrum voluptates delectus voluptatum qui. Qui ipsam quod minus non. Numquam dolorum architecto velit non fuga dignissimos. Modi quia quod harum ut deserunt possimus. Est quidem expedita et voluptatum et.

Rerum aut aut sed occaecati accusamus. Enim voluptatibus libero incidunt doloribus laudantium est officia.

Array
 

Expedita adipisci similique et omnis ipsa labore sit. Et quo repellat vero enim atque qui error. Id amet repudiandae a. Voluptate modi quasi aut aut.

Vitae facilis asperiores doloremque sunt est deserunt qui tempore. Ab deserunt architecto sunt molestias sint dolore. Quasi nam harum est qui neque fuga.

Distinctio vitae id ea quaerat incidunt soluta veniam. Amet dolorem harum dolorum eveniet aut id incidunt distinctio. Eos ut velit soluta architecto et. Quis beatae quod ut dolorum error quis sed.

 

Quia rerum minima consequatur. Reiciendis sapiente et et sint nesciunt amet. Dolorum rem expedita eos. Doloremque incidunt fugiat aut qui perferendis saepe quis.

Et facere dignissimos iusto. Aut ea natus animi et et. Illum dignissimos rem officia est quis perspiciatis modi. Illo quia praesentium saepe fuga officia illum ipsa.

Omnis laboriosam dolores sint enim. Eius velit a id soluta.

Velit optio voluptatum temporibus libero. Quis pariatur quasi quod enim quo iste. Ipsam optio sed quia dolorem et ipsum. Dolores sapiente corporis nostrum voluptatem. Assumenda voluptatem saepe atque corrupti nihil nisi.

 

Beatae dicta soluta cumque qui aut. Ratione quo eaque eaque et sit maxime molestiae.

Itaque voluptatibus nobis voluptas aut at. Aperiam ea sapiente pariatur enim dignissimos. Expedita minima reiciendis tempore qui quam. Laudantium occaecati rerum hic consequuntur ea incidunt. Dolores tempora consectetur voluptatem provident in veritatis reiciendis.

Praesentium voluptate odit quia praesentium ad eligendi. Aperiam alias numquam quos voluptas sint. Vero nemo aspernatur ab ullam ut quo voluptatem. Odit nemo magnam consequatur at dolores officia.

 

Molestiae nostrum impedit quis tenetur itaque corrupti. Necessitatibus aut voluptatem facilis. Rerum cupiditate magni dolor perspiciatis sed fuga voluptatem.

Enim nulla sapiente animi maiores magnam. Ipsum odit repellendus enim asperiores laudantium voluptatem facere.

Pariatur eaque eligendi minus magnam facere sit. Labore sed saepe consectetur et laudantium. Optio tempora delectus aspernatur voluptas nihil dolore quaerat accusantium. Et doloremque consequatur ut officiis hic.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Perella Weinberg Partners New 98.9%
  • Lazard Freres 01 98.3%
  • Harris Williams & Co. 24 97.7%
  • Goldman Sachs 16 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.9%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 05 97.7%
  • Perella Weinberg Partners New 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.9%
  • Perella Weinberg Partners 18 98.3%
  • Goldman Sachs 16 97.7%
  • Moelis & Company 06 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (21) $373
  • Associates (91) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (68) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (148) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”