A comprehensive look at when and how internship recruiting works for every major career path at Kelley — from application windows and interview formats to key firms and insider tips. These timelines focus on summer internship recruiting, not full-time offers.
Note: These timelines are for internship recruiting, not full-time offers. Full-time recruiting generally follows a similar structure but occurs later (typically senior fall). These are general timelines based on student experiences and industry norms. Recruiting for everyone will look different depending on your network, preparation, and opportunities. Timelines shift year to year, so always verify with your career advisor and target firms.
Typically 2–3 rounds. First round is usually a phone or video screen (30 min) with technical and behavioral questions. Superday consists of 3–5 back-to-back interviews at the firm's office covering technicals (DCF, LBO, merger models, accounting, valuation), behavioral/fit questions, and deal discussions. Some firms include group exercises.
Bulge brackets (Goldman Sachs, Morgan Stanley, J.P. Morgan, Bank of America, Citi), elite boutiques (Evercore, Lazard, Moelis, PJT Partners, Centerview), and middle market (Jefferies, William Blair, Robert W. Baird, Raymond James, Piper Sandler).
The process is fast-paced and relationship-driven. You send your resume to alumni at target firms and work your way up the chain — analysts to associates to MDs — until HR pulls you in for a first round. Expect extremely long hours and high pay. Banks are organized into product groups (M&A, restructuring, financing, secondaries) and industry groups (healthcare, industrials, tech, media, energy). Some banks specialize in certain industries where you work across all products. After two years as an analyst, many transition into private equity or other buy-side roles.
Start networking early — October of sophomore year at the latest. Cold email analysts and associates with concise, specific outreach. Join IBW and Knall-Cohen for structured preparation. Master 400 Hours, WSO guides, and practice modeling. Target 100+ networking touches before recruiting kicks off.
Generally 1–2 rounds of behavioral interviews focused on teamwork, leadership, and client relationship scenarios. Some roles include credit analysis cases or financial statement analysis exercises. Less technically rigorous than IB but still requires knowledge of lending, credit risk, and financial statements.
J.P. Morgan (Commercial Banking), Bank of America (Global Commercial Banking), Wells Fargo (Commercial Banking), PNC, U.S. Bank, Fifth Third Bank, KeyBanc, BMO, Huntington, and regional banks across the Midwest.
Commercial banking is very bank-dependent, but generally breaks into two functions. Credit analysts issue loans to companies — underwriting deals, analyzing financial statements, and assessing credit risk. Banking/Treasury is more client-facing: setting up accounts, advising companies on how to deploy capital, and selling banking products. The superday typically includes three interviews — one behavioral, one technical (how to lend to a company, firm-specific concepts), and one case analysis where you're given a week to prepare slides and present during the superday. Some banks don't require extensive networking, making it more accessible than IB.
Attend bank info sessions and career fairs early in fall. Commercial banking recruiting is more structured and on-cycle than IB. Emphasize relationship management skills, credit knowledge, and understanding of middle-market businesses. Internship conversion rates are high (70%+).
Typically 1–2 rounds of behavioral interviews, often with a "day in the office" or social event. Big 4 firms (Deloitte, PwC, EY, KPMG) focus on fit, teamwork, and communication. Some advisory roles may include case-style or technical questions. The process is less technically demanding than finance but highly values networking and relationship-building.
Big 4 (Deloitte, PwC, EY, KPMG), national firms (BDO, Grant Thornton, RSM, Crowe), and regional firms (Katz Sapper & Miller, Blue & Co., Plante Moran). Kelley has exceptionally strong Big 4 placement.
Accounting splits into three main tracks. In Corporate Accounting, you bookkeep and prepare the financial statements for a corporation. In Audit, you examine bank account balances for clients to verify the accuracy and validity of accounts, ultimately expressing an audit opinion on the financial statements that companies release — audit generally has the best exit opportunities. In Tax, you file taxes for companies and help them pay as little as legally possible. Interviews are almost entirely behavioral with no technicals — typically two 30-minute interviews after an online application and phone screening. You can't typically go directly into forensic accounting out of college.
Attend every "Meet the Firms" event — accounting recruiting is heavily relationship-driven. Follow up with everyone you meet. Join Beta Alpha Psi (BAP) for direct firm access. The recruiting cycle is fast (often done before Thanksgiving), so don't wait. Secure a sophomore internship for an earlier edge.
MBB (McKinsey, BCG, Bain) typically have 2–3 rounds with 2 interviews per round. Each interview includes a behavioral portion and a case interview (market sizing, profitability, market entry, M&A). McKinsey uses the Solve game as an initial screen. Big 4 consulting and boutiques may have 1–2 rounds with similar case formats. Expect 4–6 weeks from application to decision.
MBB (McKinsey, BCG, Bain), Big 4 advisory (Deloitte S&O, PwC Strategy&, EY-Parthenon, KPMG), and boutiques/specialists (Kearney, Oliver Wyman, L.E.K., ZS Associates, Huron). Kelley Consulting Workshop has strong MBB and Big 4 placement.
Consultants are essentially "experts for hire" — companies bring them in when they don't have the time, resources, or specialized knowledge to solve a problem internally. Most start off as generalists, working across industries and problem types. A big part of the job is simplifying complex content and explaining it to clients in a way they can act on. The recruiting process depends on the firm: typically a networking period, then a written application, followed by interview rounds that mix behavioral and case interviews. Case competitions help with prep but differ in structure from actual interviews. Recruiting has been tougher recently, especially post-election, with fewer spots across the board.
Start practice casing in late February of sophomore year — this gives you 6+ months before applications open in September of junior fall. Aim for 50+ cases before recruiting. Join Consulting Workshop, 180 Degrees, or campus consulting clubs for structured practice. Attend firm coffee chats and info sessions to build familiarity. For MBB, you need a near-perfect GPA, strong extracurriculars, and polished case skills. CaseCoach, Crafting Cases, and Victor Cheng are top resources.
Typically a phone screen followed by a Superday at the trading floor. Interviews focus on market knowledge (pitch a stock, trade idea, macro view), mental math, probability/brainteasers, and behavioral fit. You may be asked to explain your portfolio, discuss recent market moves, or work through options pricing scenarios. Demonstrating genuine market passion is critical.
Bulge brackets (Goldman Sachs, Morgan Stanley, J.P. Morgan, Citi, Bank of America), market makers (Citadel Securities, Jane Street, Susquehanna), and specialized firms (Barclays, Deutsche Bank, UBS). S&T desks at all major banks.
S&T roles are almost exclusively in New York at major banks. The industry is shrinking as automation replaces manual trading — class sizes have gone from 80–90 to 20–25 in recent years. There are 60+ products in S&T, but the core function is providing liquidity to pension funds, hedge funds, PE firms, asset managers, and other buyers. You're up early (6:00 AM – 6:00 PM) and it's a client-facing role — you talk to traders and institutional buyers daily. For example, a fixed income role in securitizations means taking positions and executing trades on behalf of clients. The interview process runs from application (often on Metir) through phone screening, HireVue, behavioral interviews, and a case-based superday.
Follow markets daily — read WSJ, Bloomberg, and FT. Have 2–3 strong trade ideas ready at all times. Join the Banking and Trading Association or Portfolio Management Club. Practice mental math and probability questions. Networking with S&T desks is less formal than IB but equally important. Show genuine passion for markets.
Usually 2–3 rounds. Expect a stock pitch (long or short), questions on valuation methodology (comps, DCF, sum-of-the-parts), sector-specific knowledge, and financial statement analysis. Some firms give take-home modeling tests. Behavioral fit matters but the emphasis is on analytical thinking and investment conviction.
Sell-side (Goldman Sachs, Morgan Stanley, J.P. Morgan, Barclays, Jefferies, William Blair), buy-side (mutual funds, hedge funds that hire out of ER), and independent research firms (Morningstar, Third Bridge, Bernstein).
Equity research has a sell side and a buy side. Most entry-level roles are on the sell side, where you're an expert on stocks within a specific industry — you work on a team, build financial models, write research reports, and make recommendations (buy/hold/sell) to institutional investors. It gives you direct experience talking to asset managers. The buy side invests capital and generates returns (similar to PE, but with public equities). Stocks are fundamentally an opinion game — you need to understand different perspectives on valuation and what's already priced in. ER analyst roles straight out of undergrad are less common now; many firms recruit after two years of banking experience, though it's become more accessible in recent years.
Develop a strong stock pitch with clear thesis, catalysts, valuation, and risks. Join Knall-Cohen or the Financial Investment Review to build a track record. Read sell-side research reports to understand the format. Know your sector deeply — being a "sector expert" as a sophomore sets you apart. ER is slightly less competitive than IB but values depth of knowledge.
Typically 1–3 rounds of behavioral and fit-focused interviews. Emphasis on communication skills, client relationship management, and basic investment knowledge (asset allocation, portfolio construction, market awareness). Some programs include a case study or presentation component. Less technical than IB/ER but requires strong interpersonal skills.
Goldman Sachs (PWM), Morgan Stanley (Wealth Management), J.P. Morgan (Private Bank), Merrill Lynch, UBS, Raymond James, Northwestern Mutual, Edward Jones, and RIA firms. Many have formal analyst/associate programs.
Wealth management is a client-facing role where you support financial advisors and high-net-worth clients. Day to day, analysts help prepare for client meetings, build portfolio proposals, run financial planning analyses, and track follow-ups. You learn about a wide range of investments — hedge funds, real estate, equities, fixed income — since you'll eventually advise clients across all asset classes. The role is less about modeling and more about relationships, communication, and understanding what clients need. It's a strong fit for people who enjoy finance but prefer working directly with people over sitting in spreadsheets. Many analyst programs are designed as a pipeline to eventually becoming an advisor or relationship manager.
PWM recruiting is on the same accelerated timeline as the rest of finance — expect to be networking by sophomore spring and through superdays by early summer. Values personality, communication, and a genuine interest in helping clients, so lead with relationships instead of technicals. Research fee structures and client segments of target firms, and connect with local wealth advisors for informational interviews. Strong fit for students who enjoy finance but prefer relationship-driven over transaction-driven work.
Varies by company, but typically 2–3 rounds: an online application with behavioral assessment, a video or phone screen, and a final round (in-person or virtual) with case studies, group exercises, and behavioral interviews. LDPs at Fortune 500 companies are highly structured. Some include "Assessment Centers" with daylong simulations.
Consumer goods (P&G, Unilever, Mars, PepsiCo, General Mills), tech (Amazon, Microsoft, Google), healthcare (Johnson & Johnson, Abbott, Eli Lilly), industrials (GE, Honeywell, 3M), retail (Target, Walmart), and finance LDPs (Capital One, Citi, AmEx).
Management and LDP roles are broad — you rotate through different functions (marketing, operations, finance, supply chain) over 2–3 years to build a foundation before specializing. The recruiting process is mainly behavioral: apply on Handshake, go through a screening, and then interview rounds focused on leadership, teamwork, and problem-solving. These aren't technically demanding roles, but they value people who can lead cross-functional teams, adapt quickly, and communicate well. It's a good fit for students who want corporate exposure across multiple areas before narrowing their focus. Companies like P&G, Amazon, and Capital One run some of the most structured programs.
Apply early — many LDPs have rolling deadlines and fill quickly. Tailor your resume to each company's values and leadership principles (especially for Amazon). Join the Business Leadership Initiative or Kelley student orgs aligned with your industry. These programs offer structured rotations, mentorship, and accelerated career growth. Strong GPA matters but leadership experience is equally weighted.
Typically 2–3 rounds. Interviews cover real estate fundamentals (cap rates, NOI, IRR, cash-on-cash returns), market analysis, and deal walkthroughs. Some firms give take-home modeling tests (Argus or Excel-based pro formas). Behavioral questions focus on deal experience, teamwork, and market knowledge. Brokerage interviews tend to be more personality-driven.
RE PE (Blackstone, Brookfield, Starwood, CBRE Investment Management), brokerage (CBRE, JLL, Cushman & Wakefield, Newmark, Colliers), development (Hines, Tishman Speyer, Related), and REITs (Prologis, Simon Property Group, Ventas). Cornerstone RE Workshop has strong industry connections.
Commercial real estate covers a wide range — PE, brokerage, development, appraisal, and investment management. The timeline runs from March of sophomore year to March of junior year, with earlier applications going to RE investment banking and later ones to PE, consulting, development, and brokerage roles. Day to day, you'll analyze deals, build financial models (pro formas, Argus), conduct market research, and support acquisitions or dispositions depending on the firm. Brokerage is more sales-oriented, while REPE is more analytical. Interviews are typically 2–4 rounds with a mix of technical (cap rates, NOI, IRR) and behavioral questions, often ending with a superday. Building your network before applying is critical — CRE is one of the most relationship-driven sectors in finance.
Join the Cornerstone Real Estate Workshop and the Real Estate Investment (REI) fraternity for access to firms and alumni. Learn Argus and basic pro forma modeling. The CRE industry is highly relationship-driven — attend ICSC, ULI, and local networking events. IU's Kelley real estate program has strong Indiana and Midwest connections.
Extremely rigorous. Starts with online aptitude tests (math, logic, probability — often timed). Followed by 2–4 rounds of interviews covering probability theory, statistics, mental math, brainteasers, game theory, and coding (Python/C++). Firms like Jane Street use trading simulations and market-making games. Expect questions like expected value problems, conditional probability, and combinatorics.
Jane Street, Citadel/Citadel Securities, Two Sigma, DE Shaw, Hudson River Trading, Optiver, IMC Trading, Jump Trading, Akuna Capital, SIG (Susquehanna), Virtu Financial, and DRW. Most recruit nationally rather than on-campus.
No clubs push quant trading at Kelley — it's largely self-directed. Most quant traders work in equities and options markets, open to close, and need to stay on top of what's being traded and why. The job requires an active brain: you're doing puzzles, reading books, playing poker-style probability games, and building a network before you even submit an app. Recruiting runs through HireVue/screen (most firms do this automatically), then a series of 4–6 behavioral interviews, and finally a superday. Behavioral rounds focus on fit questions and values, plus market questions like pitching a stock or defending a macro thesis. Many firms include online assessments testing math, decision-making, and pattern recognition, plus probability questions. Day to day, you analyze large datasets, develop and backtest models, and execute trades — all under mentorship from senior traders.
Study "Heard on the Street" and "A Practical Guide to Quantitative Finance Interviews" (the green book). Practice mental math daily. Join the Quantitative Finance Society. Strong math/stats coursework is essential — these firms hire from STEM backgrounds as much as business. Coding skills (Python, C++) are increasingly required. Apply very early as spots fill fast.
Extremely technical. PE interviews include LBO modeling tests (paper or computer-based, often 1–3 hours), deal walkthroughs, investment thesis discussions, behavioral fit, and portfolio company analysis. On-cycle recruiting (for post-IB roles) is notoriously accelerated — interviews can happen within days of the process opening. For undergrad PE internships, expect mini-case studies and basic modeling.
Mega-funds (Blackstone, KKR, Apollo, Carlyle, TPG, Warburg Pincus), upper middle market (Thoma Bravo, Vista Equity, Hellman & Friedman, Genstar), middle market (Audax, GTCR, Madison Dearborn, Kelso), and growth equity (TA Associates, Summit Partners, General Atlantic). Most PE recruiting happens post-IB, but some firms offer undergrad internships.
Private equity is less common for analysts straight out of undergrad — it typically requires technical modeling and quantitative analysis skills that firms expect you to build during two years in investment banking first. On-cycle recruiting (for post-IB associate roles) is notoriously accelerated and can happen within months of starting your analyst job. The work involves evaluating potential acquisitions, building LBO models, conducting due diligence, and working with portfolio companies to drive value. For the rare undergrad internship, expect mini-case studies and basic modeling. PE has become slightly more accessible in recent years, but the standard path remains IB first, then PE after 2+ years.
PE is primarily a post-IB career path. Focus on landing a top IB internship first. Learn LBO modeling inside and out — practice building models from scratch. For the rare undergrad PE internship, target middle-market firms and leverage Kelley alumni connections. Understanding value creation levers (revenue growth, margin expansion, multiple expansion, debt paydown) is essential for interviews.
Usually 2–3 rounds. Expect behavioral interviews focused on leadership, creativity, and teamwork. Many CPG and brand management roles include a case study or brand strategy presentation — you may be asked to develop a go-to-market plan for a product or analyze a declining brand. Digital marketing roles may include analytics exercises. Some companies use video screening (HireVue) for the first round.
CPG (Procter & Gamble, Unilever, General Mills, Kimberly-Clark, SC Johnson, Colgate-Palmolive), tech (Google, Amazon, Meta, Salesforce), agencies (Dentsu, Ogilvy, Leo Burnett), retail (Target, Walmart), and consumer brands (Nike, PepsiCo, Mars). P&G's brand management program is considered the gold standard.
Marketing roles span brand management, product marketing, digital marketing, market research, and consumer insights. In brand management at a CPG company, you own a product from strategy through execution — managing P&L, developing campaigns, analyzing market data, and coordinating with R&D and sales teams. Digital marketing focuses on paid media, SEO/SEM, social strategy, and analytics. The work blends creativity with data-driven decision making. Hours are more predictable than finance (typically 45–55/week), and the career path is well-defined at established companies.
Join the Consumer Marketing Workshop or Digital Marketing Workshop for structured preparation. Build a portfolio of marketing projects — class case competitions, club campaigns, or personal projects count. Know the 4 P's deeply and be ready to discuss a brand you admire with specific strategic observations. Network at Kelley career fairs where CPG firms actively recruit. P&G and General Mills recruit heavily from IU — leverage alumni connections.
Typically 2–3 rounds. First round is often a phone screen focused on personality, motivation, and communication skills. Later rounds include behavioral interviews, role-play exercises (mock sales pitches or cold calls), and sometimes a presentation where you pitch the company's product. Tech sales roles at companies like Salesforce or Oracle may include scenario-based questions about pipeline management and prospecting strategy.
Tech/SaaS (Salesforce, Oracle, SAP, Workday, ServiceNow, HubSpot, Dell Technologies, Cisco), enterprise (ADP, Cintas, Gartner, Paychex), medical device (Stryker, Medtronic, Johnson & Johnson), consumer (Procter & Gamble, 3M), and professional services (ADP, Fidelity). Many offer BDR/SDR programs as entry points.
Entry-level sales roles are typically Business Development Representative (BDR) or Sales Development Representative (SDR) positions where you generate and qualify leads through outbound prospecting — cold calls, emails, and LinkedIn outreach. After 12–18 months, top performers promote to Account Executive (AE) roles managing the full sales cycle. Compensation is typically base + commission, with high performers earning well above base. Tech sales in particular offers strong earning potential and rapid career growth. The work is metrics-driven and highly social.
Sales recruiting is more accessible than finance — communication skills and drive matter more than GPA. Join the Global Sales Workshop for hands-on preparation. Practice your elevator pitch and be ready to "sell yourself" in every interaction. Research the company's product thoroughly before interviews. Demonstrate coachability — sales managers look for people who take feedback well. Part-time sales experience (retail, door-to-door, campus rep programs) is valued. Sales competitions and case comps are great resume builders.
Law is unique — unlike finance or consulting, you're recruiting for graduate school rather than a job. The LSAT (or GRE at some schools) and GPA are the two biggest factors in law school admissions. Most students take the LSAT in the summer before or during senior year. Applications open in September and many schools use rolling admissions, so applying early (September–November) gives a meaningful advantage. Personal statements, letters of recommendation, and extracurricular leadership round out the application.
While you won't recruit for law firm positions as an undergrad, there are valuable experiences to pursue: legal internships at firms or corporate legal departments, paralegal work, government internships (DA offices, public defenders, congressional offices), and policy research positions. Some students work 1–3 years before law school to strengthen their application and gain real-world perspective.
T14 schools (Harvard, Yale, Stanford, Columbia, Chicago, NYU, Penn, Virginia, Michigan, Duke, Northwestern, Berkeley, Cornell, Georgetown), strong regional options (IU Maurer School of Law, Vanderbilt, USC, Washington University), and schools known for business law (Penn, Columbia, Northwestern, Chicago). IU Maurer offers a strong JD/MBA dual degree program.
Start LSAT prep early — most students need 3–6 months of dedicated study. A Kelley degree pairs well with law school since business acumen is valued in corporate law, M&A, and securities regulation. Join Phi Alpha Delta or the Pre-Law Career Club for resources and networking. Maintain a high GPA — it's weighted heavily in admissions. Seek out professors who can write strong letters of recommendation. If considering BigLaw, know that law school OCI (on-campus interviews) happens in the summer after your 1L year, and school ranking matters significantly for placement.
Varies widely by organization. Professional sports teams and leagues (NFL, NBA, MLB, MLS) typically have 2–3 interview rounds including behavioral questions, sports business knowledge, and role-specific scenarios. Agencies (CAA, WME, Octagon) may ask about athlete brand strategy or deal negotiation. Analytics-focused roles may include case studies or data exercises. Passion for sports is expected, but demonstrating business acumen sets you apart — teams want to know you understand the revenue side, not just the game.
Professional leagues & teams (NFL, NBA, MLB, MLS, NHL, Indianapolis Colts, Indiana Pacers, Indiana Fever), agencies (CAA Sports, Octagon, Wasserman, WME Sports), sports media (ESPN, Fox Sports, NBC Sports), brands (Nike, Adidas, Under Armour, Fanatics), and sports-adjacent consulting (Deloitte Sports, Turnkey Sports). IU Athletics is also a strong starting point for hands-on experience.
Sports management is broad — it spans ticket sales and revenue operations, corporate partnerships and sponsorships, marketing and fan engagement, event operations, analytics, and athlete representation. Entry-level roles are often in ticket sales or business operations, where you learn the industry from the ground up. Pay starts lower than finance or consulting, but the industry rewards persistence and networking. Many people break in through internships, part-time roles, or volunteer work at events. The career trajectory improves significantly after 2–3 years of building a track record.
Join the Sports Industry Workshop for structured preparation and industry connections. Attend conferences like the MIT Sloan Sports Analytics Conference or NACDA Convention. Get hands-on experience — IU Athletics internships, intramural event management, or campus sports media all count. Network aggressively with alumni in the industry; sports is very relationship-driven. Be open to starting in ticket sales — it's the most common entry point and teaches core business skills. A Kelley business degree gives you an edge over pure sports management majors because teams increasingly value financial and analytical skills.