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Ibanking with morgan stanley or goldman sachs

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Ibanking with morgan stanley or goldman sachs [#permalink] New post 03 Feb 2010, 18:00
Hi all, I've been in chat with another fellow Gmatclub member regarding ibanking with MS or GS. I'm just curious, do these companies hire year-round? I happen to be out of college already (since 2007) and don't really have a "recruiting office" with me anymore and I know that both MS and GS go to certain schools to recruit during the academic year. So if I want to join, will they review my application pretty much right after I submit it or the folks at the companies will wait until the fall quarter to being reviewing the New Analyst position?

Also, do these companies care about your undergrad major? I graduated with a biology degree and have only healthcare operations experience, not necessarily any banking experience. Is this an automatic rejection?
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Re: Ibanking with morgan stanley or goldman sachs [#permalink] New post 03 Feb 2010, 21:01
Can't speak specifically for Goldman or MS, but most companies differentiate between campus hiring and "experienced" (aka non-student) hiring. Campus hiring targets current students and generally happens on an annual cycle to fill expected entry-level positions. All the open positions are filled through this cycle so applying off-cycle is a no-go. For experienced hiring - which you probably fit into since you've been out of school for a few years - you can apply at any time, but there needs to be a specific job opening for you. Usually you can either apply specifically for a posted job, or just submit your resume and if HR thinks your skills are a match for a current or future job posting they'll contact you.

Your best approach is to try and find some contacts at Goldman or MS (other alumni from your school, friends of friends, etc.), set up some informational interviews and start networking, networking, networking.
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Re: Ibanking with morgan stanley or goldman sachs [#permalink] New post 04 Feb 2010, 11:06
Hi Jerz, thanks for your reply. What you have explained is what I thought of as well. However, though I've been out of school for a couple of years now, my job function has never been a part of the banking industry...so I have to assume that I have to start as an entry-level position for an analyst. Having said that...am I pretty much screwed? I'm in talk with a MS person but he doesn't know anything about hiring and things like that. For companies like GS and MS, they're just way too big of a company to have people aside from HR/hiring department knowing how the hiring goes, that's my assumption. I'll keep trying to get that network going...
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Re: Ibanking with morgan stanley or goldman sachs [#permalink] New post 05 Feb 2010, 12:43
You have to work your way in. It won't be easy, because you will still compete against unjaded young people.

That, and restricting yourself to two of the more difficult firms to do something in itself quite tricky seems.... tough.
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Re: Ibanking with morgan stanley or goldman sachs   [#permalink] 05 Feb 2010, 12:43
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