FT Recruiting for 2025
Incoming SA 2024 at a top BB (GS/MS/JPM) in a 2nd/3rd tier coverage group (Not GS TMT, JPM HC, MS M&A)... one of FIG/M&C/HC but not where the bank is known for it.
I'm looking to do full-time lateral recruiting, to place into a top group at a top BB or any EB group.
Have a pretty strong resume: freshman summer at L/S Fund, sophomore summer at good MMPE fund with deal flow, go to a top target (H/W), and have a high GPA. Haven't networked in a while, but want to maximize my chance at lateraling. I am considering these firms:
Moelis M&A NYC
Lazard M&A NYC
Evercore M&A NYC
PJT M&A NYC
GS HC/TMT
MS M&A
JPM HC
Buy Side (MF/UMM)
MBB New York
Questions:
1) How hard is FT recruiting from my background and how likely is it that I can hit one of these firms listed
2) How should I go about maximizing my chances
3) When and how should I start. And how do I prepare to maximize my chances.
Bump
Bump
Following
BUMP!!!!
Test the waters now. Network with seniors at your school who did it and any safe connections. Start building out a networking list and start discreetly reaching out 1 month into the internship. When you get back from work I would start studying technicals and be able to talk about deals you worked on. I wouldn't network like crazy and I would just network with people from your school or a warm connection. The worst thing would be for someone you're networking with to tell your current bank you're thinking of leaving and jeopardize your chances of a return offer. The main priority would be for you would be to get a return offer - if you don't have one, will be much harder to lateral. Once you get your return offer, let everyone you networked with know you got a return then the process kicks off very quickly.
following
Bump
Following
Here's my advice as someone who has gone through FT recruiting -
Don't do it/do it wisely.
To be honest, I think it's a marginal difference in prestige for an unnecessary major change.
First, you're already at a top BB, but granted not a top group. This isn't a jump from a LMM to a top BB/top EB. You're not starting off at an unknown shop, just at a group you don't particularly like. Also, you will be asked why you are switching, and I don't think that there's a good answer for this besides prestige. In my opinion, this minor prestige change isn't worth the unnecessary stress.
This ties into my second point - you will be entering at a disadvantage compared to your peers come June. You don't know the layout, you don't know how HR functions, and you don't have a general sense of the culture and the best practices at the firm. Granted, these are things that are picked up easily, but for me, I was unsure about how to proceed, and I felt that I was left behind. Second, you're going to feel like the odd-one-out when it comes time for analyst outings because you didn't have that internship experience.
Third, your focus should be on securing the return offer. You sound like a driven, smart kid, and I don't think that this would be a problem. But there were plenty of driven and smart kids who got screwed last summer. I wouldn't divide my attention from the main goal - getting a job.
Fourth, there's potential that this backfires on you. Finance is a small world, and people talk. Hearing that an intern is shopping around instead of working can potentially come back and bite you. The worst case scenario is that MDs talk and you lose out on your current offer and the offer you were seeking for. I will always be on the side of "do what's best for you", but I want you to know that this is a possibility - it's happened before and it's tragic to see.
Fifth, if you still really want to do this, I would recommend that you lateral internally. Just say that you want more experience in this particular sector/product group, while being respectful to your colleagues.
Anyways, that's my 2 cents. Weigh the pros and cons, and decide what's best for you.
How were you able to do it "wisely"? Also, if you could PM me, I would really appreciate it. My situation is pretty unique.
Awesome rundown, do you mind PM’ ing me would love to chat about your process.
Iste sed quod sunt delectus autem necessitatibus ut. Vero corporis officia dolor voluptates a est sit. Natus sit doloremque omnis sint enim consequatur.
Sed commodi blanditiis consequuntur. Omnis blanditiis saepe dolor voluptatem qui natus. Necessitatibus quisquam ab sed est. Quasi distinctio ullam et autem doloribus. Nulla inventore ut explicabo aut aut et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...