Recruiting Process
Most investment banks recruit, interview and hire full-time analysts in the fall of each school year. Increasingly, a significant percentage of full-time offers are dedicated to candidates who were interns the prior summer. While these candidates will have an advantage, by no means should this discourage other candidates. There are typically more spots in each analyst class than can be filled by former interns. Also, often full-time analysts without prior internships tend to perform better than complacent former interns.
The recruiting process begins as early as the first week of classes, when major investment banking firms conduct on-campus general information sessions. A few weeks later, you will need to submit your résumé/cover letter and hope to get an on-campus interview. The various firms will stagger their processes so you may complete the recruiting process for one firm as early as October while others may drag into December.
Key Recruiting Dates
The investment banking recruiting cycle differs by bank but is generally the same time every year.
Full-Time Interviews: Generally Aug-Sept kicks off Full-time interviews for both undergrad and MBAs. Full time interviewing differs by school. It is best to check with your career resources center to see what firms are coming to campus.
Internships Interviews: Generally Jan-Feb kicks off summer internship interviews for undergrads and MBAs.
Off-Cycle Recruiting:
The smaller boutiques and middle market investment banks usually have a less structured interview process in terms of guidelines and dates. Boutiques in particular will usually hire on a need basis, so interviewing at these firms can happen all year around. If you find yourself behind the curve I suggest targeting the boutique and middle market investment banks.
All target schools have difference recruiting schedules but track fairly closely to one another.
Example MBA Recruiting Schedule
The MBA recruiting calendar can vary depending on the business school and the region. However, the following is a general timeline that is often followed:
Summer/Fall (August to November):
- Many business schools start their recruiting activities early in the academic year.
- Companies often visit campuses to conduct information sessions and networking events.
- Some schools organize career fairs where students can meet with recruiters from various industries.
- Students typically focus on researching companies and industries, attending company presentations, and preparing their resumes and cover letters.
Winter (December to February):
- This period is usually a quieter time for recruiting, as many companies and students take a break during the holiday season.
- Students continue networking and researching companies of interest.
- Some students may use this time to apply for internships or job opportunities that have early application deadlines.
Spring (March to May):
- Recruiting activities pick up again in the spring semester.
- Companies conduct on-campus interviews and invite students for off-campus interviews.
- Students participate in networking events, company visits, and interview preparation workshops.
- Job offers and internship offers are extended to candidates.
It’s important to note that this timeline is a general overview, and the specific dates and events can vary between schools and regions. Therefore, if you’re interested in pursuing an MBA in the 2024-2025 academic year, it would be best to check the specific recruiting calendar and timelines provided by the business schools you are considering. They will have the most accurate and up-to-date information for that particular academic year.
How Can Prospect Rock Partners Help?
We understand the financial recruiting landscape and have extensive experience working with hiring managers at Bulge bracket banks, Elite Boutiques and Private Equity firms. We can help you pinpoint what went wrong and help you course correct so that it doesn’t happen again.
Prospect Rock Partners Services
- Clean-up, reformat and retarget your resume so that you can secure more interviews
- Linkedin profile analysis
- Interview prep
- Sample mock interview questions
- Sample technical interview questions
- How to Break into Banking Networking Tips and Tricks
- Target Company recommendations
- Target Company Prep Exercises
- Develop a customized networking strategy
- General guidance and support
We know the banks and know what they are looking for. With our guidance and support we will help you navigate this ultra-competitive job market and land your dream role.
