Those who snag the job as an associate in BigBanking will pull down about $216,818 in total compensation, documents Cheat Sheet in Bloomberg. The process is as grueling as what lawyers have to endure to be hired as an associate in BigLaw.
Essentially, there are three interviews, if the prospect makes it that far. The process begins on the business school campus where the recruiters check out about 1,100 candidates.
By the next cut there are 300 left.
Those who make it to number-three are then sold on the recruiter why they should join the firm. Back at headquarters, then there is a roundtable meeting to decide whom to make offers to.
How to get an offer?
Of course, high Emotional Intelligence (EI) is expected. We saw during "Pao v. Kleiner" how lack of that did the plaintiff in, both on the job and on the stand. An alternate juror commented that Pao seemed robotic. But the EI counts for client interaction, not in terms of exhibiting a great personality. Recruiters know to look beyond that.
Their focus is on quantitative ability. But with that has to be insight into what the patterns could be saying. Doing lots of research on BigBanking is also demanded by recruiters. Boilerplate ideas about trends in the marketplace get candidates knocked out of the box.