Can a Non Target land a IB SA? With hard work and persistence it definitely is
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I just received an IB SA offer this morning from the number 1 firm on my list and I just wanted to share my story on how I got there. I come from an extreme non-target, my school is in the country and I knew that I had absolutely no chance if I applied cold online. I knew that there were schools near me who are target schools. So I searched on every BB firm’s website and was able to discover dates that the firms were having information session. I also search these targets schools for the dates of their career fair. By the end of last summer I had a spreadsheet with all the dates of each firms and school specific events.
Sneaking in to the career fairs was not an easy task since you had to provide ID upon your entrance. I noticed as soon as I arrived that the only bathroom in the entire facility was located inside the career fair, so I went to guard and frantically told him I had to use the restroom and I didn't come back out until the career fair was over. I spoke with a variety of firms not just IB to keep my options open. During the fallI was able to land interviews at the following firms: Deloitte, IBM, Union Pacific, Dell, Wells Fargo, PwC, Caterpillar, GE and I was able to make it to the second rounds for the vast majority of these firms, and I ended with 0 offers. My back up plans ended up blowing up in my face, so I only faced a small chance of getting an offer with a BB firm.
My luck changed when I attended information for a top middle market firms. I met a trader, talked to him and made sure to follow up with him. I was able to convince him to do a mock interview with me. He grilled me on the markets, we talked about IPO’s, M&A transactions, Fed tapering, debt ceiling and etc… I was able to impress him and he told me that “I never do this, but I will recommend you to our recruiter and a friend of mine at a top BB think BAML/GS/JPM”. I followed up and spoke to the recruiters, however he informed that their analyst class is significantly smaller than the BB who are able to bring hundreds during the summer, and that they rarely deviate from the core schools. He informed me that I was behind in the game since he already had people that were reaching out to him since they were freshman/sophomores. Not to mention that my competition were Harvard, Princeton, UPenn , Yale who had 4.0, captain of their rugby teams, interned at a PE shop the year prior. He asked why should they pick you over them. I told him my pitch, and he seemed a little hesitant, and quickly ended the conversation. What I didn't know what that he was previously a head recruiter and former banker for a BB firm. As soon as I got home, I noticed that he had personally recommended me to all the BB, and a few middle market firms, got me an interview with the head of Corporate and Investment Banking at his firm. I was the very first person he interviewed. I made sure to keep in contact with everyone he introduced me to and followed up. I received interview invitations from the top 3 BB firms, got invited to all three superdays , and ended up with one offer.
It was definitely a tough journey and there were times where I thought I wasn't going to make it, but I'm glad I didn't give up. I made a vision board two years ago and the firm that I placed on that vision board is the firm that I ended up getting an offer at. If you haven't I was recommend watching "The Secret".
Along the way I learned a few things:
1. Know your story : I cannot tell you how many times I rehearsed my story. I followed this format: Background, Past experience, why Banking , why you are here today interviewing at the firm, thank you for the opportunity to interview with me. I learned along the way that interviewers want to connect with you, try to make it personal.
2. Know your technicals
Coming from a non target the bar is set even higher. So you gotta know your stuff.
3. Be humble
4. Know the firms recent deals in depth and be able to articulate it
I cannot stress how important it is to know not only what is going in the markets but also what deals the banks are specifically doing. Also, be sure that you have an opinion on the deal, know the markets reactions I used the following site to help me prep. http://pillarsofwallstreet.com/resources/deal-of-the-week/
5. Know everything on your resume - Know every single line, verbatim point blank.
6. The interviewer knows more than you
The interviewer will likely try to trap you, if you do not know anything let them know, and make sure to follow up afterwards You do not want to start rambling on about something you do not know. They smell blood and they will go after you.
7. Even if you don’t get an offer from their firm you can still use them as contacts
I made a lot of contacts along the way from a variety of firms. The person who interviewed you had to recommend that you go to their finals rounds, so they must like you. Keep in touch with them, you never what ‘s going to happen.
8. Stay calm under pressure
The interviewer will likely ask you some obscene question to see how you react under pressure be sure to stay calm and answer the question as clear and concise as you can.
9. Thank everyone along the way
This is key you did not get there by yourself and make sure to thank the people for their time and their decision to help you. They are not obligated to do so.
Here are the resources I used along the way
Very important, know everything in that book
http://www.Amazon.com/Investment-Banking-Valuation-Leveraged-Acquisitions/dp/0470442204 -
Wall Street Prep YouTube Channel
http://www.youtube.com/channel/UCUcnLrPvGAv-n97hLGqe-qA -0
interviews about what big swinging dick on wall streets about how they made it and what they look for in candidates
https://www.onewire.com/videos -
Itunes, corporate finance taught by Asawath Damadaran- This is gold, if you only decide to look at one thing I posted I would recommend this one.
and of course WallStreet Oasis. This website has been a crucial to my current success, especially the interviews questions
Link of everything I used to prepare
https://www.dropbox.com/sh/f4vwojkn2sujhxs/khKs68Ns5O
Best of luck to everyone still in the recruiting process.
Great story, inspiring. Congrats.
Awesome post and thanks for the helpful links.
Of course, congratulations as well.
Respect. The bathroom trick to get into the career fair was awesome. What was your pitch that you gave to the recruiter?
The recruiters were surprised that I was able to get in since even people who go to the school couldn't get in without their ID's. I was honest up front, and told them I snuck in.
He told them that "Impossible is Nothing" and then proceeded to lift in front of them.
awesome hustling. +1 banana for sharing it with us.
thanks for posting!
nice, sb
thanks for the post, great information
Thanks a lot for this. Do you mind sharing your background (GPA, experiences)? Context would definitely help.
It doesn't matter what my GPA and experiences were. Just use whatever you have to your advantage.
Having below a 3.6 probably wouldn't have opened as many doors as you had. Yes it doesn't matter in the bigger context of things, but a kid with a 3.2 and 0 experiences doing what you had would probably have a harder time.
Awesome post and congrats!
I think this is an amazing post, and certainly it is an inspiration for a fellow non-target such as myself to step up their game.
However, I've inquired about the sneaking into local target school's career fairs/info sessions and got a very mixed response. Some people feel this is rude and disrespectful ie: recruiters who are alum of the school in question. Did you ever have to deal with this personally, and if so, how did you try to get around it? I saw you say that you were honest and upfront about sneaking in. How was this received? Were people more impressed about how badly you wanted it, or did they kind of look down their noses at you for it?
I didn't receive any negative feedbacks, if anything I stood out and recruiters actually remembered my name.
Congrats! Thanks for sharing the links.
You deserve it.
Great post! and congrats, hope all goes well for you. Thanks for the links!
Well done! Very inspiring journey.
Great Story. Thanks also for the Material/Dropbox. Definitely Valuable Insight.
*With hard work and persistence he/she definitely can. Enjoy banking!
Thank you for the Dropbox link!! Good luck with everything.
One of the most informative success stories. Great post, great resources. Good stuff @"upod01"
great links!
Thanks
Persistence and "Make lemonade out of lemon you got from life now and then" , should be the best valued traits some one posses, even you fall short of a bit in other attributes,imo. If I were an employer I would have chosen that over traditional pedigree any time. Congratulation, and keep it up and going..
Thanks for dropbox, that will help many procrastinator !
Really nice write up
Thanks
Wow, one of the best success stories . So you got a summer IBD, fun's not over pal, you got to still get the FT.
agreed its tougher but may make you better off in long run
Absolutely inspirational.
Awesome. Congrats.
Thank you for the tips, helps the rest of us stay focused
Thanks for this, coming from a non-target, this definitely makes me feel better.
Cool post thanks!
I really appreciate the post and the dropbox material. Very inspiring.
This post is fantastic. Thank you very much for sharing your story of creativity and perseverance.
You deserve it. really great story! thans
Didn't read all of your post, but well done! Attitude, network, and persistence is everything in this business.
Excellent story. Thanks for the links and dropbox mats!
Fantastic post !!! Very good and thank you for the Dropbox link!! But the links that you put and the materials in the dropbox are your whole blackground and so all the things that a person needs t break in IB? you work in Europe or Us?
You must be charismatic and have excellent communication skills. Am I wrong? Reading your post you seem to be good at influencing people. Man I wish I had those skills haha
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