Any hope of a 2012 grad finding a finance job this time of year?

This is my first post on WSO so please bear with me.

I am currently a finance major graduating from a semi-target school in 1 month. I'm graduating with latin honors and I have internship experience at ML (currently) and Dow Jones (private equity research).

In my foolishness I missed the finance hiring cycle in the fall by just being oblivious, sitting on my ass and not applying anywhere.

I'm now in an application frenzy, mostly finding positions on my school's career center job board and indeed.com. I'm really looking for anything at this point, but most likely IB/BB in NYC.

My main question is, when a job post says "requires 3-5 years of experience", is it even worth me applying? Basically, will my resume be thrown aside immediately once they see im a new college grad, or will they look at it and consider my 1-2 years of internship experience and say "close enough for an interview".

(also any suggestions about what I should be doing beyond applying in this manner would greatly be appreciated!)

 

But really, no I wouldn't waste time applying. Look for positions that say 'recent college graduate' or since you are still in school apply through the Current Student section of websites. At this point you may need to try to think outside the box on where you could apply. It's better to get a job out of school that may not be as prestigious and try to lateral versus unemployed.

 

Yes I completely understand, I'm looking to avoid unemployment at all costs.

I never pretended to misconstrue 3-5 years experience with new college grad. I was simply wondering if it meant my resume would be completely binned (which seems to be the case), or if in some circumstances it would still be considered based on school, grades, and relevant internship experience.

Should I be doing more than carpet bombing applications? I'm trying to get out 5-10/day. I also realize that BB at this time of year is a LONG shot, so I'll definitely start to expand my search.

 

I don't know about ML. I have no interrest in going through their new FP program. I have been interning there for 9 months and have seen 1/2 our office turn over in that time due to people not meeting client benchmarks. If I were to get an offer there it would most likely be in a client associate role which I'm not interested in at all.

 

Do not waste your time applying to any job opportunities online, because spoiler alert you wont even get a call back.

You need to network. Thats it, nothing else. You should be spending all day everyday on the phone, sending emails, meeting with people. You will not even have a chance unless you start doing this.

Do not waste your time with bulge brackets other than as a place to get referred to boutiques. You are way late to the game and you need to expand your search immensely.

 
analyst-therapist:
and no you are not toast for this year, yet. I came from a semi target with no internship experience in finance, and networked my way into an internship 3 months after graduating which i then turned into a full time position in IBD at a very reputable boutique. Do not give up, but change your strategy immediately.
Just wondering, did you convert the internship into full-time at the same firm, or use it as leverage in interviews at other firms?
 
analyst-therapist:
Converted it at the same firm, I basically begged them to give me a shot and after three months they offered me a full time spot.

How long was the internship for and what kind of terms did you agree on? I'm negotiating with a boutique myself right now for a short contract that I am hoping to turn into full time. Any other details you can share? :)

 
Best Response
LunchboxxR:
This is my first post on WSO so please bear with me.

I am currently a finance major graduating from a semi-target school in 1 month. I'm graduating with latin honors and I have internship experience at ML (currently) and Dow Jones (private equity research).

In my foolishness I missed the finance hiring cycle in the fall by just being oblivious, sitting on my ass and not applying anywhere.

I'm now in an application frenzy, mostly finding positions on my school's career center job board and indeed.com. I'm really looking for anything at this point, but most likely IB/BB in NYC.

My main question is, when a job post says "requires 3-5 years of experience", is it even worth me applying? Basically, will my resume be thrown aside immediately once they see im a new college grad, or will they look at it and consider my 1-2 years of internship experience and say "close enough for an interview".

(also any suggestions about what I should be doing beyond applying in this manner would greatly be appreciated!)

If you are set on IBD, I would suggest contacting places for internships and/or deferring graduation depending on your college stats. Otherwise, look for mid/back office gigs, continue networking, and move on from there. As you said, avoid unemployment at all costs. Consider MSF's or equivalents as well (only target places, or those with great connections to the areas you're looking to go into).

Sometimes lies are more dependable than the truth.
 

I didnt really negotiate any terms, as I was in no position to bargain. I asked for an internship and the chance to prove myself as a team player. They agreed that I would have 8 weeks and then they would make a decision. Well 8 weeks turned into 12 and I proved that I could outwork everyone else to make up for my lack of experience. They offered me a full time position after the 12 weeks were up. I woulnt negotiate too much just get the boutique to give you a chance to prove yourself and go from there. Most importantly, work very very hard during your internship

 

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