HH "The Pulse" -- #19

Banking:

Where We’re At: As we mentioned in our previous releases, we are no longer covering SA 2024. Please email us if you’re still recruiting for SA 2024. SA 2025 has kicked off with RBC being the first bank to open up its app. We announced this a few weeks ago, but have officially added it to our database. For SA 2025, you need to be networking today! Full-time recruiting picked up this week with Goldman, J.P. Morgan, Scotiabank, and PJT opening up their apps. If you’re recruiting for FT positions, you need to be applying ASAP.

Newly released apps:

• RBC: March deadline, but we recommend applying today as most apps are rolling (SA 2025)

• Goldman Sachs: FT roles just kicked off (BB)

• BNP Paribas: This large, non-BB, also kicked off recruiting (FT only)

  See below to gain access to our premium database, updated bi-weekly, which houses the application processes for over 200+ banks/consulting/buyside firms! Gain an edge over everyone else by not having to spend countless hours tracking applications and deadlines.

Consulting:

Where We’re At: Not much has changed since last week’s update. Most firms are now in the process of conducting final interviews and giving out offers. There are still smaller/niche firms that will release applications over the next month or so but MBB and Big 4 firms have released their applications and are wrapping up recruiting for summer 2024. One firm has an open application for summer 2025–however, I don’t anticipate any more being released for a few months.

Newly released apps:

• Curtis & Co. - Management Consultant Intern Summer 2025

• Kaiser Associates - Associate Consultant (Full-Time)

• Resolution Economics - Consultant (Full time)

Apply ASAP if you’re interested!

Buyside:

Where We’re At: 2025 roles are quickly opening! Insight Partners, large tech-focused VC fund, and GTCR, a prominent PE buyout firm, just opened up their SA 2025 apps. Buyside firms typically have a more fragmented recruiting process and will continue to release apps for SA 2025 over the next year.

Newly released apps:

• Insight Partners: Large, tech-focused VC firm opened up its SA 2025 app

• GTCR: 2025 private equity summer analyst

The database is updated bi-weekly and contains 200+ Investment Banking and Consulting internships/full-time positions along with:

• Interview tips for specific companies

• Interview prep material

• Applications and deadlines linked so that you can apply with one click

• Information about the application process

• Professionals to network with

• Buyside deadlines, interview prep, and people to network with for the sweatiest of students

We send the updated dataset every two weeks with the latest banking and consulting job postings. We released our 18th update yesterday.

Students we have been helping have already landed roles at Blackstone, Goldman, J.P. Morgan, Jefferies, Citi, and Solomon.

To get access to the database and the bi-weekly updates, you pay a one-time fee of $20 (Venmo @Hooshelpers) that grants you annual access to the updated database (You can enable purchase protection if concerned). If you don’t find our services helpful, we simply ask for feedback on an area we can improve upon and will refund your $20.

This is a small investment for a huge payout when you secure your dream offer!

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Killer Jobs Report.

Over September, total nonfarm payroll job openings totaled 336,000! This number is nearly double economist expectations. Also, the unemployment rate remained stagnant at 3.8%.

What’s a nonfarm payroll job? A nonfarm payroll job is defined as any job excluding farming, private households, proprietors, non-profit, and active military. For example, a job in banking or consulting would be classified as non-farm. The Bureau of Labor Statistics tracks movement in non-farm payroll jobs to capture the health of America’s job market across mostly private, non-seasonal employers.

This data is important because job growth is generally a signal of economic growth. As the FED hiked rates over the last year to combat inflation, everyone anticipated job growth to fall and unemployment to rise as employers would be forced to cut costs. However, the American job market has remained incredibly resistant to the rate hikes.

Wage growth also managed to rise 4.2% YoY; outpacing the 3.7% YoY increase in inflation reported in August. Many economists argue that strong wage growth and low unemployment numbers will make it difficult to win the battle against inflation as consumers continue to overspend.

Economic resilience is the prevailing theme of the American economy over the last 12 months. The “incoming recession" keeps getting pushed away. Rising rates are supposed to lead to high unemployment or at least less wage growth. Yet, the job market isn’t cooperating. Higher prices are supposed to reduce consumer demand. Yet, consumer sentiment remains high and spending persists. The 2-year Treasury Bond and 10-year Treasury Bond have been inverted for our 15 months! Yet, still no recession. Did the fast pace of rate hikes create an economic time-lag? Where the hell is this recession?

During an interview, be sure to mention the misalignment in the market and form a view about when/why you think a recession will occur.

HH Deep Dives. Interested in learning about a specific topic related to finance? Shoot us an e-mail and we will do a deep dive for you.

Please reach out to us with any questions about recruiting or if you’re interested in meeting the team! ([email protected])

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Hoos Helpers

HH #19