Off-Cycle Entry Level Analyst

Keep in mind that this process was incredibly expedited due to an understaffed bullpen late summer of 2011 after the summer analysts had left. I was set up for a brief phone interview with an alum from my school. We went through the very basics of why I wanted to go into investment banking, what I like about my school/major, why I wanted to leave my current position, and one question about how financial statements were connected. Overall, very easy interview and I think I was in the door due to my employee referral. A day later I got an email inviting me to a Superday a week from that Friday (this was Thursday). Went in for the Superday and their were only two other candidates interviewing. Process started at 8AM with a presentation about BB&T, then we moved to four 30 minute 2 on 1 interviews with either a senior analyst or an associate and a VP or Associate MD. Some of the sessions skipped technical questions and focused on fit and personality while others were heavily focused on technicals. Technicals tended to focus more on valuation methodologies and and the rationale behind them and less on accounting. After the four sessions we went to lunch with two Associates and one Analyst. Finally we finished up with one more 30 minute session and a tour. After that it was 2:30PM and the candidates were free. Two days later I received a call from the Associate in charge of recruitment giving me a verbal offer and saying that BB&T Capital Markets need approval from BB&T for additional headcount, but I should be in my desk anywhere from one to two months. Two months went by while I checked in with the Associate every other week and he kept giving me no useful information. Finally 3 months later, he called and said that they could not hire an additional analyst right now and that I would not be able to apply with the on-cycle candidates that Fall.