What are the 4 recruitment updates you need to know in order to secure your internship/analyst offer in investment banking?
- Drop on Middle & Back Office (MBO) Openings:
With adverse market conditions, IB stops raising non-profit generating teams' openings
This Year:
🔺Morgan Stanley closed its Finance & Operations’ openings
🔺Barclays closed Trade Capture openings for S&T Support
🔺JPM stopped openings for Risk department
🔺Deutsche Bank halted its Finance & Compliance openings
Enhancing working experience by applying to MBO might be rough this year
- New Tech Knowledge Required on S&T:
E.g. Candidate who applied for S&T in BAML are required to complete a Coding Test, implying they will only admit those who know how to code. If you want to get into S&T, you must know how to code
- The Most Stable Divisions of IB - Private Banking & Asset Management:
For IB who had PB & AM openings last year, they are continuing this year
Allegedly, UBS, Deutsche Bank, JPM & HSBC may expand their PB’s openings!
If you don’t have much preference on what to apply for Front Office, why not try applying for them?
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- Advantage for local students:
HKCareers has recognized that only HK citizens or who have VISA can apply to JPM’s MBO & most divisions in HSBC!! These conditions are listed out this year, reducing the competition with candidates around the world, intimating you might have a higher chance of getting in.
However, divisions like IBD looks for Non-Local Students in general instead
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