If you want to work in investment banking in America, it’s usual to either start as a “summer analyst” (an internship during your undergraduate degree) or as a “summer associate” (for those going into banking from an MBA or law school background). Compared to Europe, there tend to be fewer “off-cycle” internships available, so it is important to get applications in early to the summer programs. U.S. banks also tend to use “rolling deadlines”, meaning that the program will close when enough suitable candidates have been found. This means that it’s not always wise to rely on the published closing dates; get your application in as soon as you can.
If you’re graduating this year, and you don’t have a job lined up, it’s comparatively late in the cycle to be applying, but hope is not yet lost. Here’s a list – subject to change without notice, unfortunately – of the campus opportunities which were still available when we last looked
Goldman Sachs campus hiring
The Summer Analyst (internship) and Summer Associate (for MBA and postgraduate students) programs are open, although subject to a rolling deadline which means they could potentially shut at short notice. Likewise, the New Analyst and New Associate programs – the graduate and post-MBA schemes respectively – are still open on a similar basis. Both programs include a number of major cities across North America. The Engineering team has an ongoing Virtual Program with no deadline.
Morgan Stanley campus hiring
Morgan Stanley’s internship programs are nearly all closed. There remain some opportunities for quants – the Machine Learning Research Associate program for PhDs closes on 31st January, as does the Quantitative Finance Summer Program. The Technology Summer Analyst Program in Montreal does not close until March. Technology in Montreal is also the only full time graduate entry program still open, apart from Wealth Management Operations in Utah.
JPMorgan campus hiring
The Markets and Investment Banking internship programs are closed, but would-be quants can still apply for the AI and Data Science opportunities and Quantitative Analytics Internship. No off-cycle internships are currently being advertised. For full-time employment, all the programs are currently closed.
Citigroup campus hiring
Citi has Summer Associate (MBA) vacancies advertised, although only a few of them are in New York rather than in specialist capital markets & advisory teams in Chicago, Los Angeles and San Francisco. There are Summer Analyst positions in Real Estate Finance and in the Investment Banking Financial Strategy and Solutions Group and a few full time Analyst roles being advertised; however, it appears that the window is closing as programs fill up.
Bank of America campus hiring
Bank of America’s Summer Analyst programs are closed, but the Summer Associate program is still accepting applications. For full-time positions, the investment banking intake has been filled; the Global Corporate Banking Analyst Program is listed as being open on the company website, but the closing date was 14 December 2021.
Jefferies campus hiring
Jefferies is still advertising summer analyst programs for the Investment Banking FIG group and Private Capital Advisory Group in New York, and for the Aerospace, Defense and Government group in Charlotte; these groups are also still recruiting full-time Analysts. They also have a generalist Summer Associate program in New York and some specialist groups in other cities. The FIG group in New York and the Consumer and Retail group in Charlotte are advertising for full-time Associates.
Non-US Banks campus hiring
There are some opportunities still open in North America at European banks, but not many and not in the prime locations and divisions. Deutsche Bank has analyst programs available for its Corporate Bank in New York, at the Finance function in Jacksonville and for its Technology campus in Cary, NC. Credit Suisse has an opening at its Compliance Academy in Raleigh NC. UBS is taking applications for the Investment Banking Chief Operating Officer summer analyst program until January 31st but not for front office roles, and still has vacancies for the full time Graduate Talent Programme (Quant)
