In the upcoming recruitment season, investment banking hiring is expected to remain flat or slightly increase, driven by anticipated growth in M&A activity. The demand for visa sponsorship is likely to remain stable, with the U.S. presidential election serving as a potential wildcard.
Recruiting process overview
The recruitment process for full-time positions and summer internships differs in terms of timeline and structure. The MBA summer internship recruitment process is highly structured, with all campus engagement activities focused on U.S. MBA summer associate hiring. In contrast, full-time campus and just-in-time opportunities occur more quickly and follow a self-driven, less structured process. One thing remains constant: whether you’re recruiting for a summer internship or a full-time role, be prepared to network extensively, as networking is crucial in this industry.
Read on for more considerations and learn more about the process, timelines and recruitment resources!
Recruiting for MBA Internship vs. Full-time
- The majority of full-time campus hiring occurs through return offers. As summer internship return offer decisions are made, some additional full-time positions may open from mid-August through the fall. These opportunities are unpredictable and ad hoc but do offer a chance to re-recruit for second-year MBAs and students in one-year degree programs.
- Beyond campus opportunities, graduating students with previous IB experience may qualify for just-in-time hiring and lateral roles that open in spring.
- The MBA internship hiring process is highly structured and begins in mid-September, featuring corporate sessions, networking events, and coffee chats. Application deadlines vary from early November to the end of December, with interviews starting as early as November.
Recruiting considerations
- When recruiting for investment banking, consider whether you want to target boutique banks or bulge brackets. Boutique banks often offer more hands-on experience, while bulge bracket banks provide a broader deal flow and global exposure.
- Some banks hire into their Generalist pool, while others recruit directly into specific coverage groups (known as direct placement). If you’re aiming for a coverage group, having relevant industry experience (e.g., Real Estate experience for Real Estate coverage groups) can make you a more attractive candidate.
Pro tips and recruitment resources
- Firms often use resume books to source candidates and may reach out to the Career Development Office to request profiles. Ensure your resume is included in these books and select investment banking as your preferred industry along with your preferred cities.
- Important announcements regarding investment banking recruiting are shared via the #cdo-financial-services Slack channel. Make sure to join that channel!
- Review the 2024-2025 Investment Banking Application Requirements posted on CMS > Resources Library to find employer-specific information, broken down by degree program.
- The Finance Club offers technical training and mentorship. If you’re planning to pursue a career in the industry, joining the Finance Club is essential.
