Hey Guys,
I know this question has been asked before, but I couldn't find a definitive answer and since now is the season for said recruiting process, I wanted to ask again for any insight. Is this just HR reaching out to SAs at other banks, or is it just as likely for us to try to network with various banks? Would this only apply to NY offices or is the process the same for HK and London? Also, considering the state of the economy and the popularity of hiring freezes, is accelerated interviewing still going to occur this year?
Thanks in advanced.
bump...
There have been a few networking events in NYC i've heard of. Only one I was invited to was where I turned down offer.
Are the networking events invite only, or can we contact recruiters to break in?
Has anyone done/schedule accelerated interviews this summer?
ARe you an IBD intern at another bank? How did you get invited to this?
interested as well. Is it only up to HR to set up these accelerated interviews?
Accelerated Interviews - When Are they and How do you get them? (Originally Posted: 03/15/2007)
If you are going to be at a BB summer intern, what is the deal with getting accelerated interviews for full time? Do you just tell them you want accelerated or do they tell you? Does this happen in July, August, September? When is normal full time recruiting? Is accelerated FT interviews easier than regular FT interviews?
This is already being discussed in another thread created today.
http://www.ibankingoasis.com/node/4502
Accelerated Interviews (Originally Posted: 05/19/2010)
Hey guys,
I'm working at an investment bank as a summer analyst but have realized that I'm more interested in trading. I'm also going abroad this fall so I won't be able to go through normal recruiting.
1) How hard will it be to transition from being a banking SA to trading FT? (I know IBD-->trading is easier than trading-->IBD, but still)
2) How should I go about getting interviews with other firms before I go abroad? I don't know how the process works at all and can't seem to find much online...
3) If I get a FT offer for IBD, how would I go about asking to interview for trading without ruffling any feathers?
Thanks so much, Yodaddy
Just curious, why the sudden change of plan?
Interested in the answer too, I'm hoping to get a FT interview in NYC.
1) Considering its an internship, it should not be to hard to get interviews for trading. BB IBD is a top notch internship and it should not be hard to turn that into other interviews.
2) You will need to network before the end of your internship. To get interviews you will do the same emailing/cold calling that is mentioned on this site, but make sure you tell them that you are going abroad and request/inquire if they have any accelerated interviews. You should be able to squeeze in a few interviews, but some firms may not have time to interview you--if that is the case, see if you can get a phone interview/fly back when they are interviewing. Your best bet is to get in contact with any pre-existing trading contacts first, and then network with other contacts. FT trading offers are desk specific, fyi. Also, depending on when you go abroad, you may not participate in an "official Superday" and will instead be interviewing with your contact's group directly. You will come in and meet your contact and some other people who work in HIS group; your offer will be specific to his group. (Some banks might have accelerated Superdays where you are interviewed by a variety of groups and your offer will depend on who likes you).
3) Don't tell anyone that you want trading until after you have the FT offer. I would use the employee database and get a list of names and email traders who you can have informational interviews with and tell them about your desire to get into trading (you will have to sneak around so that your supervisors don't find out). I don't think the traders will rat you out. Towards the end of the Summer, the traders may give your supervisors a call and see what kind of employee you are. If you happen to receive the FT offer before your end date, tell one of the IBD employees you have become friends with about your desire to get into S&T, they may help you out, they may not.
^^ he didn't say he was BB.
So, I thought IBD made more sense because it would give me a broader skill set and, having little in the way of a finance background, this was pretty appealing. Having said that, I've realized that I don't want to slave away at something I don't like, I'm confident trading is something I'd like, and my skillset/personality is better suited to it.
@Gekko:
Any thoughts on how I can learn about which desks would make the most sense for me? A little guidance would be awesome. Also, I don't really like the idea of going behind their backs but I do think it makes sense to get the FT offer before asking to interview with those desks. A few more questions:
Is the FT offer THAT big of a deal if I'm pretty committed to doing trading anyway? i.e. I'll still have it on my resume but it won't be super important to get a FT offer cuz I don't want to do banking...?
Any thoughts about how I can network with traders? I could use my school's network but, unfortunately, the only trader from my school also works at the bank I'm working at this summer (yes, it's a BB or top boutique--don't wanna be that specific).
Thanks again, Yodaddy
1) Networking and setting up interviews takes time. I have at people get back to me 10 days or more after I sent an email. People are busy/get distracted and you need to take that into consideration. The FT offer is a bigger deal if you try to get trading at your current bank because I guarantee the traders will call up a person you worked with and ask what kind of candidate you were (not having a FT is not a good sign). Your right that a FT offer isn't necessary because you want trading, but going into an interview and saying I have a FT offer is a lot better than having to explain why you DON'T have a FT offer (also it takes some of the pressure off of you during interviews). Do yourself a favor and get the FT offer.
I would do a more detailed search of school alumni and see if you missed anyone. Apart from that, I know people that have been successful sending letters/notes to traders over Bloomberg. It does not have a huge hit ratio, but it does work. Craft a carefully worded note asking for an informational interview, why you want trading, and what your accomplishments are to date, ect. Linkedin is also a possible source. Traders do not care as much about prestige and pedigree as bankers. They care more about passion/focus. Make sure you do a lot of reading, stay up to date with the markets, the product you are interested in/want to interview with, and maybe some trading strategies in general. I suggest getting a demo account to trade FX or equities.
To find which desks/products that make the most sense search http://www.jpmorgan.com/pages/jpmorgan/investbk/solutions for different products and then use WSO to read up on the different products. There are a lot of threads on this site that go into specifics.
A quick starting point: //www.wallstreetoasis.com/forums/a-response-to-which-desk-is-best-type-qu…
//www.wallstreetoasis.com/forums/emerging-markets-trading-questions
Can anyone tell me if cold emailing HR (assume you manage to procure actual emails from contacts not info@gs.com type shit) and asking about accelerated interviews will work or if it's strictly referred by bankers?
Yodaddy, there are more traders who came from your school. Ask your friends going into finance, they probably are pretty on top of their shit.
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