<p>Citigroup knows what it wants: “the very best people.” And the firm spends
an “intense amount of time and commitment” finding them. Interviewers
“put as much emphasis on personality and fit as intellectual horsepower.”
They mostly go after people from “core schools,” and even if you are a top
student there, “it is difficult to get hired.” Relative to the firm’s size, it keeps
its incoming class “small.” In fact, within investment banking, says one
source, “the summer associate class is one of the smaller classes on the
Street.” Interviewers want people who are naturals at business etiquette. A
contact says that “typically, it only takes one mistake” in this area “to knock
a candidate out of the process.” Because “there are a high number of
applicants and a lot interest in the firm, with only a relatively small number
of openings, the selection process is difficult during analyst program hiring.”
One insider says, your “chances are better if you are referred from the inside.”
Another agrees, “50 percent of it comes down to who you know.” But here’s
something to keep in mind: “The finance division tends to be a little less
competitive than straight investment banking or sales and trading (for which the
program is often mistaken, especially since other banks call their investment
banking programs ‘corporate finance’),” confides a source. Another adds, “The
finance program dips into smaller schools to fill its growing capacity.”
Generally speaking, Citigroup recruits from “the usual schools for bulge
brackets,” including “Ivy League schools and other equivalent level
universities.” ** One source says, “It is very difficult to get hired outside of this
process.” It goes after public schools like “Virginia, North Carolina, Texas,
Illinois, Michigan and California,” says one source. Another notes that the firm
also interviews “select students from non-target schools in New York.” **
Citigroup recruiters can be seen on such undergraduate campuses as “Penn,
Harvard, Columbia, Rutgers, Johns Hopkins, New York University, Dartmouth,
Cornell and Georgetown.” One source says, “Citigroup is extremely selective
when hiring undergraduates, despite its large size.” And the firm goes after
graduate students from top MBA programs, with most associates coming from
“Columbia, NYU, Wharton, Duke, MIT, Harvard and Tuck.” ** Sources say: “If
you are a top student at a ‘core’ recruiting school, it is difficult to get hired. If
you are not at a ‘core’ school, it is nearly impossible without family
connections.” **</p>
<p>im pretty sure everyone that's serious about getting hired at a bulge-bracket firm knows this already...</p>
<p>Well I just wanted to remind everyone how competitive it is and that it takes more than "trying hard" to successfully get in. And some people have misconception that summer analyst position is easier than getting a job position. Just wanted to clarify that :)</p>
<p>but yeah im sure many people already knew about it. But it never hurts to post ;P</p>
<p>Yeah, I have talked to a senior at UT who recently got hired at Bear Stearns. What he said was there are about 25-30 ibanking spots open when recruiting comes around. About 1/2 of them go to Houston the other half goes to NY. So theoretically of the potential 1000 McCombs graduates, only about 15 have a shot at making a BB in NYC. Not great odds but still better than some non targets. I can also only imagine a similar process goes on at UNC, UVA, Haas, and Ross.</p>
<p>haha rutgers is some ish.</p>
<p>The rule of thumb: Prepare early. Learn the nature of the business(Investment Banking). Establish your contacts early(Alumni, Recruiters, etc.). Maintain at least a 3.5+(target) or a 3.7(non-target). Do one or two EC in finance(e.g create your own hedge fund).</p>
<p>And the most important element: do an internship with a IB, and read the financial publications daily. Knowlege in the industry will set you a part from the competition.</p>
<p>I found this helpful. Thanks dhl3.</p>
<p>...your SAT scores matter a lot btw...cut off 1350</p>
<p>3.5 or above definately</p>
<p>non-target schools? yea...impossible...</p>
<p>ok first of all</p>
<p>I-banking sucks.</p>
<p>sorry.</p>
<p>Who wants to look at numbers go up and down all day?</p>
<p>sorry.</p>
<p>If anything, the highest paying jobs are consulting and management. Companies will literally groom you out of college. And that stuff is actually exciting...</p>
<p>"If anything, the highest paying jobs are consulting and management. "</p>
<p>Where the hell did you get this from? You obviously dont know what your talking about given your statement and the fact that you think all bankers do is watch numbers go up and down.</p>
<p>No offense, but do all the "I-Bank Hopefuls" actually like it? Or are they just following the hype train? When I first heard about the $$, I'll admit, I was interested. Then I heard 80-100 hours per week and said, "Pass."</p>
<p>I actually like. I already do similar valuations on companies (not synergies from goodwill mind you), but historical dcf, comps, and multiples. I agree though that it would definitely not excite others like it does to me, and for someone doing it 90 hrs a week, it would be torture.</p>
<p>ugh I-banking. Just make sure that's what you all want and you aren't picking it just because it pays really well and is the "IT" job.</p>