I haven't really met many analysts who applied directly out of IB in their 2nd year. People typically either do 2 years and go into PE for 1-2 years before applying, or stick around a 3rd year and apply then. Reason being if you apply during your 2nd year you've only got like a year of work experience and you're somewhat disadvantaged. If you apply after you finish, you probably should be doing something during that time and not just be unemployed..
exactly the answer i was looking for. thanks.