With the arrival of 2023, a new recruitment season for investment banking spring weeks has begun. As a highly sought-after internship opportunity for undergraduate students, spring week allows participants to gain first-hand experience of working in an investment bank. Landing a spring week placement is invaluable preparation for securing a coveted summer internship the following year. This article provides a comprehensive overview of investment banking spring weeks in 2023 – from key application dates and recruitment timelines, to insights on the assessment process and tips for acing case studies and interviews.
Most applications open in autumn 2022 for 2023 programs
The recruitment window for 2023 investment banking spring weeks opens as early as September 2022 for some banks. Morgan Stanley and Goldman Sachs generally commence their programs around this time. However, deadlines vary across institutions – JPMorgan Chase’s submissions close in October while applications for Citi’s internships remain open beyond December 2022. It’s advisable to start preparing your applications during summer so everything is ready for submission when the window opens. You’ll need an updated CV, cover letter, transcripts of your grades, and to have practiced case studies and interview questions.
Interviews and assessments held between October 2022 – March 2023
After submitting your spring week application in fall 2022, you can expect to hear back from banks over the coming months regarding next steps. This may involve numeracy tests, video interviews, assessment centers with group case studies and presentations, and final panel interviews. The complexity and number of stages depends on the prestige of the institution. While daunting, thorough preparation and rehearsal of your answers using real past examples will set you apart. Also be sure to convey your passion for investment banking throughout the process.
On-site programs run in April/May 2023 for 1-2 weeks
If successful in earlier screening, participants get to experience what live investment banking is like during the on-site spring week in April/May 2023. Scheduled close to university Easter breaks, the programs last 5-10 days. You’ll receive talks/training from bank executives, collaborate with peers on deals/pitches, receive coaching, tour trading floors and more. It’s a chance to demonstrate skills learnt in finance modules and absorb the culture. A spring week is widely viewed as a feeder to summer analyst openings.
In summary, now is the time for prospective investment bankers to perfect their applications for 2023 spring week positions during autumn 2022. With deadlines closing over the coming months and the on-site weeks taking place next April/May, proper preparation and interview practice is key to transforming this career goal into reality.