First Step to Final Offer 10/15/24

CAREER OPPORTUNITIES

RecruitU Partners Upcoming Event List (NEW)

Ardea Partners (Early Insight Programs) :

Thursday, November 7th @ 3pm–5pm EST, Ardea Partners | Women's Insight Day  Link

Application Deadline: October 18th

Thursday, November 21st @ 3pm–5pm EST, Ardea Partners | Diversity Insight Day  Link 

Application Deadline: October 31st

Guggenheim (Early Insight Program):

Sunday, November 13 @ 5:30pm–7:30pm EST, Guggenheim Securities Investment Banking Diversity & Inclusion Panel Link 

Application Deadline: November 6th

Evercore:

Wednesday, October 16 @ 5:00–6:00pm EST, Evercore Private Funds Group Virtual Sophomore Open House Link

Thursday, October 17 @ 12–1pm EST, Evercore Strategic, Defense & Shareholder Advisory Virtual Sophomore Open House Link

Tuesday, October 29 @ 1:30–3:30pm PST, 2024 Evercore Menlo Park Healthcare Virtual Sophomore Open House Link

Tuesday, October 29 @ 12:00–1:00pm EST, Evercore Private Capital Markets Virtual Sophomore Open House Link

Tuesday, October 29 @ 5:00–6:00pm EST, Evercore Equity Capital Markets Virtual Sophomore Open House Link

RecruitU Investment Banking Prep Series Overview (NEW)

RecruitU is excited to announce our Investment Banking Prep Series! Every Monday and Wednesdsay, RecruitU Mentors from Evercore, Morgan Stanley, Guggenheim, and JPM will be presenting on their experiences in banking and answering questions. Please RSVP below:

October 16th @ 7pm EST, Lesson 2: Networking Link

October 21st @ 7pm EST, Lesson 3: Behaviorals 101 Link

October 23rd @ 7pm EST, Lesson 4: Accounting Link

October 28th @ 7pm EST, Lesson 5: Accounting Link

October 30th @ 7pm EST, Lesson 6: Accounting Link

November 4th @ 7pm EST, Lesson 7: Accounting Link

November 6th @ 7pm EST, Lesson 8: Net Working Capital Link

November 11th EST @ 7pm EST, Lesson 9: Capital Structure, EV and EQV Link

November 13th @ 7pm EST, Lesson 10: Valuation Link

November 18th @ 7pm EST, Lesson 11: DCF Link

November 20th @ 7pm EST, Lesson 12: DCF Link

November 25th @ 7pm EST, Lesson 13: M&A Link

November 27th @ 7pm EST, Lesson 14: M&A Link

December 2nd @ 7pm EST, Lesson 15: LBO Link

December 4th @ 7pm EST, Lesson 16: LBO Link

December 9th @ 7pm EST, Lesson 17: Market Awareness Link

RecruitU Event Series

Join RecruitU Experts for a webinar series designed to educate and prepare sophomores for summer internship recruiting. Run by Former Head of Evercore Recruiting and Former Employer Partnerships at Colby and Bowdoin College.

• October 21 @ 5 pm ET: Preparing for Investment Banking Interviews, Part II Link

Class of 2027

• Santander Bank (NEW) 2025 CIB Investment Banking Sophomore Summer Analyst Program - US Link

• UBS (NEW) 2025 Sophomore Internship Program - Global Markets - New York Link

• Point 72 (NEW) 2025 Summer Internship - Private Investments Link

• Piper Sandler (NEW) 2025 Career Exploration Program Link

• Moelis & Company (NEW) 2025 Leadership Development Program - New York Link

• RBC Capital Markets 2026 Capital Markets, Global Markets Sales & Trading Summer Analyst Link

• RBC Capital Markets 2026 Capital Markets, Global Investment Banking Summer Analyst Link

• Houlihan Lokey 2024 Investment Banking Women's Insight Day Link

• Blackstone 2024 Blackstone US Future Women Leaders Program Link

• Insight Partners 2026 Summer Investment Analyst Overview Link

• KKR 2026 Summer Analyst Program Recruiting Process Overview Link

• Societe Generale 2025 Sophomore Investment Banking Program Link

• Bank of America Global Markets Sales & Trading Rotational Sophomore Summer Analyst Program – 2025  Link  

• Goldman Sachs Possibilities Summits  Link

• Deloitte Consulting Discovery Sophomore Intern Summer 2025 Link

• Deloitte Discovery Intern (Sophomore) Consulting (Government & Public Services) - Summer 2025 Link

• RBC Capital Markets U.S. Pathways Diversity Award Program Link

• RBC Capital Markets U.S. Women’s Advisory Program Link

• RBC Capital Markets LGBTQ+ Sophomore Insights Program Link

• Goldman Sachs Emerging Leaders Series - Link

• Morgan Stanley Summer 2025 Applications - Link

Class of 2026

• Ares (NEW) 2025 Summer Analyst, Secondaries - Credit Link

• Truist (NEW) 2025 Truist Securities - Energy Investment Banking - Summer Analyst Program - Houston, TX Link

• Jefferies 2025 Jefferies Finance Summer Analyst Program - New York, Data Analytics Link

• Apollo Global Management (NEW) 2025 Summer Analyst, Apollo Capital Solutions Link

• Morgan Stanley 2025 Investment Management Summer Analyst Program - Fixed Income High Yield (Boston)  Link

• StepStone Group 2025 Private Equity Summer Analyst  Link

• Susquehanna International Group, LLP (SIG) Quantitative Trader Internship: Summer 2025  Link

• Bracebridge Capital 2025 Summer Investment Analyst  Link

• Blackstone 2025 Real Estate Finance Summer Analyst   Link

• BNY 2025 Summer Internship Programs Link

•  Deutsche Bank Internship Program Investment Bank: Commercial Real Estate - New York - 2025  Link

• MUFG 2025 Corporate, Investment Banking and Markets (CIBM) Summer Analyst Program  - Link

TECHNICAL QUESTION OF THE WEEK:

MARKET NEWS

Inflation Rises Slightly in September as Jobless Claims Surge Following Hurricane and Strike

The Labor Department reported that inflation in September was slightly higher than expected, with the consumer price index (CPI) rising 0.2% for the month and putting the annual inflation rate at 2.4%. Core prices, excluding food and energy, increased 0.3%, bringing the annual core inflation rate to 3.3%. Meanwhile, weekly jobless claims hit a 14-month high, largely due to the effects of Hurricane Helene and the Boeing strike. Despite the inflation increase, Fed officials remain confident that inflation is easing and expect further interest rate cuts, with traders betting on a rate reduction in November. Rising food prices, especially eggs, and higher shelter costs contributed to the inflation uptick.

Source: CNBC

Citigroup Forms New Executive Team to Capture Larger Share of Deals Market

Citigroup has formed a new executive team from its corporate and investment bank to capture a larger share of the deals market, following the hiring of Viswas Raghavan from JPMorgan to lead investment banking growth. Under CEO Jane Fraser, Citi is undergoing a major overhaul to boost performance, cut costs, and simplify its business. John Chirico and Jason Rekate have been appointed co-heads of corporate banking, while a newly established investment banking operating team will focus on strategic priorities. Citi’s investment banking fees surged 60% in the second quarter, with further growth expected in its upcoming earnings report.​

Source: Reuters

JPMorgan Chase: U.S. Economy Remains Strong Amid Soft Landing

JPMorgan Chase reported on Friday that the U.S. economy remains robust for both consumers and large companies, suggesting that the Federal Reserve may have successfully achieved a “soft landing” with reduced inflation and continued healthy growth. As the largest bank in the country, JPMorgan exceeded expectations in its third-quarter earnings from lending and raised its forecasts for the year, even after the Fed recently cut interest rates for the first time in four years. Executives highlighted that consumer spending remained strong and big businesses were showing confidence—precisely the kind of economic scenario the Federal Reserve had been aiming to create.

Source: WSJ

M&A DEAL OVERVIEW

Private Equity Investors Account for 40% of US Deals in 2022

At least 40% of deals reported to the federal government for antitrust review in 2024 involved a fund or limited partnership, highlighting the increasing role private equity firms play in mergers and acquisitions across the U.S. economy. Funds and private equity firms are becoming more involved in corporate transactions, reflecting a broader trend of consolidation and strategic investment. These figures were released as part of a new data report by U.S. antitrust agencies in a revamp of merger rule reviews, underscoring the growing influence of private equity in driving deals. With antitrust scrutiny on the rise, the prominence of private equity in reported deals is drawing attention from regulators and lawmakers alike.

Source: Bloomberg

ADDITIONAL RESOURCES

• Class of 2027 Application Tracker

• Finance and Consulting Application Tracker 

LAST WEEK TECHNICAL QUESTION OF THE WEEK ANSWER: