Importance of being a fresh graduate
How important is it to be a fresh graduate when banks are hiring? When I was a clueless undergrad, I didn't apply for any positions until just before I graduated. All of the major banks (we're talking about commercial, private, and investment banking positions) had hired all of their analysts about 9 months prior. When it came time for the next round of applicants, I was considered "experienced" since I was a year out of school and had to pick up a retail banking job to eat.
I don't know whether it was because "experience" was undesirable, or because retail banking is a joke and they pre-judged me as an idiot, or for some other reason, but I didn't land a single interview.
I come from a non-target in the midwest that has a top 10-20 B-School program. I had a 3.2 GPA out of undergrad, because like I said, I was clueless. I later enrolled in an MSF program to re-brand myself and boost my GPA while still working at the same retail job to support myself. I graduate in a few months, and when it comes time to apply in September, do you think I will be dinged because I've been out of school 3 months? Will they judge me because I didn't apply while I was still IN school? Am I just thinking way too hard?
I'm trying to get into commercial/private/investment at the analyst level, and it feels like (correct me if I'm wrong) every day that goes by makes me less and less marketable to employers seeking candidates for these entry-level roles. For instance, if I can't land a position this year, I doubt (correct me if I'm wrong) that anyone will hire a 27 year old who wants to be an analyst.
Are all analysts 23 years old and fresh out of school or am I crazy?
your funny. Gave me a chuckle on this otherwise boring evening
You're not crazy. Analysts tend to be 21-23 and come right out of their undergrad program. The typical pattern is to recruit during your junior spring for a position that runs the summer before your senior year. From that, if you do well you may receive your full-time job offer after graduation. Senior year at that point is a joke; you party and goof off knowing you have job security for the time being. You graduate, get a few weeks off, and enter as part of the bank's incoming analyst class.
For those who have not spent that last summer interning, banks host a full-time recruiting process during the very first weeks of the fall semester and invite current seniors. Things wrap up by mid or late October. If you fail there, it's almost guaranteed you won't be joining any of the banks who have a structured recruiting process after you graduate.
The only other options at that point are to: - join as an "experienced hire," the position you find yourself in where they don't necessary count relevant work as 'experience' as much as they consider any full-time employment once you graduate to be 'experience' - attend a one-year grad program (MSF, MFin, etc.) as you have done, hopefully at a target or semi-target school, and participate in on-campus recruiting from there - spend a few years doing something less-than-ideal, apply to top b-schools, attend one for your MBA, and participate in recruiting from there
Wait...you GRADUATE from an MSF in a few months and haven't been looking for a full-time position yet? This doesn't make any sense to me. How is this re-branding yourself? It seems like you just did the same thing over again.
And yes, they hire 'fresh' graduates because banks like people that have their shit together.
I've been looking. I applied to ambitious IB programs in September. It was only recently that I discovered I'd have a better shot at commercial/private banking and a better quality of life, too.
Dude, you literally did the same thing again. You needed to be looking months ago. I'm baffled how you did this...Apply like crazy now, because you missed the boat again.
Will do
If you don't mind me asking, what school are you doing your MSF from?
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