Apollo Delays Young Banker Offers as Rowan Agrees With Dimon

Apollo Global Management told prospective investment-banking candidates that it won’t interview or extend offers to the class of 2027 this year, following a backlash from banks over young recruits accepting future-dated offers.

In a letter sent to candidates on Wednesday, Apollo explained its decision by saying it believes graduates should take time early in their careers and deepen their understanding of business. Apollo’s Chief Executive Officer Marc Rowan said he agreed with recent criticisms that the process for hiring young recruits had started too early.