Originally Posted by CunningSmeagol
MBA hiring into the associate level is (from my experience at only one school) pretty robust. I've seen that (1) most people who did internships (BB, Boutique, or somewhere in between) got FT offers and (2) many of these banks are back on campus recruiting into FT people who did not do internships with them.
Most of the people with FT offers (or even recruiting into banking in the first place) were not analysts before MBA.
Also, why do you say that analyst program rollback is going to impact associate recruiting for the worse?
Are you talking about this year and last? From the people I've talked to in business school (Wharton, Columbia, Duke, etc.), it sounds like it has been very, very difficult to land a summer internship without previous experience as an analyst.
As for the analyst program rollback: it depends on whether you think it is endemic of reorganization or reduction. I think it is the latter. Investment banking operations at all the bulge bracket banks are shrinking. Bankers are being laid-off left and right. Look at what happened last winter. Tons of banks dumped employees right before bonuses were to be paid out. This year, even analysts are getting laid-off--sometimes first years.
So, it's not that reducing the size or length of analyst programs is going to directly impact associate hiring, but more that it is a sign of the times.
Originally Posted by Khayembii Communique
My resume was submitted to an analyst development program in PWM by somebody high up in their PWM division, so I'm hoping that will at least land me an interview. I interview well so I'm fairly confident if I get the interview that I'll be let in. My chances of getting into PWM are much higher than IBD/PE, too, which makes me feel better about this.
I'm not familiar with PWM at all. However, I would not be over-confident when it comes to investment banking interviews. If you've never done one, you don't know how hard it can be. Interviewers regularly try and push you to your breaking point, to see how you do under pressure. Meanwhile, you are expected to sell yourself and tell a story. All while coming across as confident and friendly.