Key investment banking deadlines (and why you should ignore them)

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If you're thinking of waiting until near the deadline to get your investment banking graduate scheme application in, remember this - laggards have less chance of gaining a place. Why?

Don't assume banks will wait until the deadline before processing applications. As is often clear on their websites, some operate a rolling recruitment strategy, which obviously means first-come, first-served, and graduate recruiters suggest the early birds are indeed more likely to get the worm.

"Put it this way," one head of graduate recruiting at a bulge-bracket bank tells us, "Those who get their applications in early generally have an easier time getting to the final stage than those who apply later."

In other words, if you're prepared, have done your research and are organised enough to get your application in well before the deadline, the chances are you're the type of person investment banks are looking for.

Another reason is the fact that banks are making the deadlines a little shorter. Although there are likely to be more graduate places available next year, there are still fewer than during boom times, and more and more students are applying.

As one graduate recruiter tells us: "Without implicitly stating that there are fewer places available, making the deadline a little earlier means there are fewer applications to sift through and, as the earlier applicants are usually better, the places get filled quicker."

Key deadlines for investment banking graduate schemes and summer internships:

Bank of America Merrill Lynch:

Graduate programme: 6 November 2009

Summer internships: 11 December 2010

Barclays Capital:

Applications opened on 1 August 2009 and the bank recruits on a rolling basis.

BNP Paribas:

Graduate programme (London): 31 October 2009


Graduate programme: 8 November 2009

Summer internships: 3 January 2010

Credit Suisse:

Graduate programme: 20 November 2009 (recruits on rolling basis)

Summer internships: 17 January 2010

Deutsche Bank:

Graduate programme: November 2009

Summer internships: January 2009

Goldman Sachs:

Graduate programme: 18 October 2009

Summer internships: 06 December 2009

HSBC (corporate and investment bank):

Graduate programme: 13 November 2009

Summer internships: 15 January 2010


Graduate programme: 8 November 2009

Summer internships: 13 December 2009

Morgan Stanley:

Graduate programme: Recruits on a rolling basis, but expects internship conversions to fill places within the following divisions: Global capital markets, investment banking, investment management, operations, technology. Advises checking website for any updates.

Summer internships: 31 December 2009


Graduate programme: 15 November 2009

Summer internships: 10 January 2010


Graduate programme:15 November 2009

Summer internship: 3 January 2010

Royal Bank of Scotland (global banking and markets):

Graduate programme: 13 November 2009

Summer internships: Open for applications now, and will recruit until vacancies are filled. This is likely to be mid-November 2009.

Sociéte Générale:

Graduate programme: GIP scheme deadline is mid-January 2010, and recruits for other graduate positions on a rolling basis all year round.

Summer Internships: Recruits on a rolling basis all year round.

Standard Bank (corporate and investment banking):

Graduate programme:15 November 2009


Graduate programme: 1 November 2009

Summer internships: 27 December 2009 (front office positions), 17 January 2010 (back and middle office positions)

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