With the 2024 investment banking recruiting season already underway, many students and graduates are eagerly looking for full time analyst opportunities at top banks. Landing a highly coveted full time investment banking analyst role takes thorough preparation and dedication. In this article, we will explore the timeline, prerequisites, interview preparation, and other tips for securing a 2024 full time investment banking analyst position.
Full time analyst recruiting starts early
The 2024 investment banking analyst recruiting season kicks off extremely early, often more than a year before the start date. Applications typically open in the spring and summer of junior year for students graduating in 2024. For example, J.P. Morgan opened applications for its 2024 Americas Full-Time Analyst Program in July 2022, a full 15 months before the July 2024 start date. Other banks follow a similar timeline, posting job openings and collecting resumes during the spring and summer. First round interviews take place as early as July or August. Later rounds including Superdays and final round interviews run through the fall semester into winter. Offers are rolled out between October and December, conditional on satisfactory performance, graduation, and background checks. Securing an analyst offer this early allows students to focus on classes, networking, and preparation during their last semester rather than continuously recruiting. It also gives banks ample time to train and integrate their incoming analyst class.
Prerequisites and qualifications sought
Investment banks have rigorous standards when hiring full time analysts. While each bank has its own requirements, there are several key criteria most firms look for: – Pursuing an undergraduate degree, ideally in finance, accounting, economics, math, engineering or other quantitative fields with a strong academic record – Relevant finance experience through internships, relevant club leadership, or modeling coursework – Strong technical skills including accounting, financial modeling, valuation, and Excel – Ability to work in a demanding, fast-paced team environment – Strong communication and interpersonal skills Banks favor candidates who have already completed 1-2 finance internships and held leadership roles in finance clubs or other campus organizations. A history of achievements and aptitude for learning quickly are highly valued.
Mastering the recruitment process and technical prep
The investment banking recruitment process is extremely rigorous. Extensive technical preparation and practice are required to stand out among the competition. Key aspects include: – Networking. Connecting with bankers at target firms through alumni contacts, on-campus events, LinkedIn outreach, and conferences. Informational interviews and referrals boost chances significantly. – Resume. Tailor resume to highlight relevant coursework, experience, leadership, academics, and technical skills. Quantify achievements whenever possible. – Cover letters. Write customized letters for each bank emphasizing fit with their culture and offerings. – Technicals. Thoroughly practice accounting, valuation, LBO modeling, discounted cash flow analysis, trading comps, market sizing, and brainteasers. Fluency in Excel and financial modeling is critical. – Behavioral questions. Prepare stories illustrating leadership, collaboration, overcoming challenges, and other common behavioral interview topics. – Case study prep. Extensive practice with case interviews, both solo and in groups, is key. Consult banks’ published case guides and practice books like Case in Point. – Firm research. Become deeply familiar with each bank’s offerings, culture, deals, leadership, and technical test specifics.
The 2024 investment banking analyst recruitment process starts extremely early and requires intensive preparation in technical skills, networking, firm research, modeling, and communication. Candidates who perfect their resumes, financial modeling abilities, case interviews, and interviewing skills and obtain multiple internships and finance exposure will be most competitive for these highly desirable roles.