A graduate recruitment timeline

Most investment banks have closed, or are on the cusp of closing, their 2011 full time graduate schemes to applications, and are the embarking on the recruitment process for next year's summer intern intake. Assuming you're still on tenterhooks about what lies ahead, here's what you should expect.

Deadlines for applications

As we said, most banks closed their graduate schemes for applications between late-October to mid-November. Exceptions remain, however: BNP Paribas (30 November), Credit Suisse (30 November), Nomura (5 December) and RBS (30 November-6 December, including most global banking and markets divisions).

The deadlines for next year's summer internships are in the first two weeks of January 2011.

When should I hear if my application is successful?

Unfortunately, there's no clear date we can offer you here, since most banks open their graduate schemes to applications in September and recruit on a rolling basis.

Summer internships usually open for applications at a similar time, but the recruitment process can be more drawn out. Some banks start interviewing shortly after accepting applications, while others wait until November by which time the full-time analyst recruitment process is over. Depending on availability, the interviews can continue into mid-March.

By and large, though, you should find out whether you've made it through to the first interview stage within 1-4 weeks, depending on the volume of applications the bank receives.

The interview process

The first interview should be set a couple of weeks after you find out whether or not you were successful, but will depend on the division you're applying for (with front office filling up faster). After that, things speed up.

The first round will be with representatives of the investment banking division you're applying to, and usually consists of two competency-based interviews and a possible presentation/case study to assess your analytical and, well, presentation skills.

Internship interviews are likely to be (slightly) less intense, with one competency-based interview and a case study or presentation the norm during the first round.

If you're successful (or otherwise) banks will look to inform you within 24-48 hours, with the aim of staging the second interview process 1-2 weeks later.

The second round will consist of a three competency-based interviews, presentation, a group exercise, a test and - finally, but equally as important - a networking event.

When will I find out if I have a place?

Investment banks aim to inform candidates of a final decision within five working days after the last interview and usually allow you up to two weeks to decide whether to accept an offer.

The above is a summary based on conversations with numerous investment banking graduate recruiters