Behind the Money Wall Street banks and private equity’s tussle over junior talent
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Jul 23, 2025 
Sujeet Indap, Wall Street editor at the Financial Times, teams up with Ortenca Aliaj, Banking editor at the Financial Times, to delve into the fierce rivalry for junior talent between private equity and Wall Street banks. They discuss a controversial recruiting practice causing firms to target graduates earlier than ever. The conversation reveals insights into the shifting dynamics in finance, including the ethical concerns surrounding accelerated hiring and the impact of JP Morgan’s new policies on the future landscape of both sectors.
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Sujeet Indap's Early Job Story
- Sujeet Indap recalls securing an investment banking job early in senior year during the dot-com boom.
- He was eager yet inexperienced, seeing it as an exciting start to his career.
Recruitment Accelerated Intensely
- Recruitment for investment banking analyst roles has accelerated significantly over the years.
- Internships during sophomore and junior years now heavily determine full-time offers much earlier than before.
PE Hires Before Banking Starts
- Private equity firms traditionally hire juniors after 1–2 years at banks but now recruit even before banking jobs start.
- This has shifted recruitment to the period between college graduation and starting analyst programs.