Delaying graduation: good/bad idea?

Who else is thinking about doing this? A month ago, I would have NEVER even thought about this, but now Im getting 'desperate' (I guess you could call it that).

If I dont get an offer by December, I'm gonna take my GMAT and either try to get into a 1 year M.Sc program to start next fall or delay graduation by a year. Hopefully 2009 fall FT recruitment will look a lot better than this.

Pros:
-It will give me another (and more likely) shot at trying to get an SA offer; learned from my mistakes from last year
-If I just delay graduation...it will be a pretty lax year; gives me time to 'smell the flowers'
-More time to network
-Wont be stuck in some BO job

Cons:
-2009 FT recruitment may be even worse than this year
-I'll lose a year's salary (even if its a $35K BO job) while incurring more costs
-I'll feel like Im a year behind; bad for motivation
-And (the most obvious one) my current debt levels :P

Not sure what to do anymore :(

 

I might not have the best advice but I remember reading an article in the FT or WSJ about this. it said that delaying graduation during a downturn increases your chances of getting hired the next year (assuming things get better).

however, i think this is only the best option vs. doing nothing.

 
two.N.twenty:
Let me pose a question. Do you feel that you can get an adequate score on your GMAT with minimal preparation? How much time will you have devoted to the exam before sitting for it?

My last final is on December 8th. So hopefully about 1 full month before Winter semester starts, then about another month of "partial" study. Most deadlines for MSc programs are about Feb/March so I think I have a good chunk of time.

 
opt8:
ps- I have a friend who works in a "BO" role at a top BB, works 9-5, compensated 140k + bonus/overtime, graduate 07

How come your title says "I work in a BO" but the post says "I have a friend..."

 
opt8:
ps- I have a friend who works in a "BO" role at a top BB, works 9-5, compensated 140k + bonus/overtime, graduate 07

LOL...now only if I could get a 9-5 job that payed 140k total comp. Honestly though, I'd take a FO job at a 30% discount over that, but thats just me.

 

I've actually delayed my graduation by a year or so. I'm going for a double major + Master. And if the economy recovers I can always drop the second major and graduate "early".

Plus it is much more fun to be in school than worrying about losing/finding a job.

 

I really don't think you should delay graduation, period. Even if finance doesn't work out, do something else for a year that looks good on a resume. Go abroad, live in a foreign country, learn a language, go backpacking through Australia, whatever! It will definitley beat spending a needless year in school and will make you a more interesting person with some life experience when you apply the following year. Having something to talk about outside of finance might just make you stand out in an invterview. It may seem like you are in a really bad place now, but as one door closes, another one may open. Staying one more year in school would add nothing new to your life. So take a chance and explore something different. Doing a graduate degree is certainly an option, but just sticking around in undergrad for another year makes absolutley no sense.

 

Who is paying for this extra year? Loans? Your parents? Uni costs a lot of money and "delaying graduation" may not go down very well as a reason.

A huge percentage of IB hopefuls fail during FT recruitment -- even during "good" years. I'd say strive for something more, like the masters program you mentioned; just don't stay for another meaningless year. Good luck!

-- Support WSO.com and visit these links! Financial Modeling Training Guide to Finance Interviews
 

I wouldn't suggest the program if you're looking to "hide" in school until the job market improves. However, if you're seriously interested in earning a one-year master's degree in business (and you're currently a liberal arts, science or engineering major) with pre-experience, then I'd definitely look into it.

For the financial services track, it's getting more competitive, and this year's applicants are finding it necessary to score at least a 70% on the GMAT quant section, as well as have a solid application. The marketing & management track is less strict.

Website: www.commerce.virginia.edu/grad/mscommerce Email: [email protected]

 

I am also interested in this. I am an Engineering + Business dual degree (will graduate this December; 4.5 years in total) in a target school and I couldn't land an SA at a top firm this semester. I am thinking of adding another year by submatriculating into MS in Engineering. I've learned from my mistakes and I hope to get a better offer next year (I'm more into consulting, though IBD or prop trading is also fine). Do you think this is a good idea? Thanks!

 

There is a good writeup of this on M&I. The only time you want to delay graduation is when you have legit IB experience, good grades and on campus recruiting. Personally, I know a couple of people who have delayed and gotten top top shops in IB

 

I came in as an older transfer student as a junior (23 at the start of junior year) and wasn't able to evaluate career paths, take finance classes, or any of that jazz so I was way behind the curve and had to struggle to catch up. Managed to land a research position at a small boutique firm and build up my resume from there, but at that time it was too late. Even despite a terrible resume at the time, I still managed to get a call from GS, so I'm not completely hopeless.

I filled out a ton of FT apps at various sized firms, but not really counting on hearing anything back.

 

I would say delay. FT recruiting is pretty much wrapped up with only a few bank left while SA slots are being filled right now. I was in your shoes, as I switched career paths from pre-med to finance of my 3rd year. Although I wasn't able to land a prestigious SA gig as I was late in the game for it, I got a boutique internship over the summer and was able to leverage that to a respectable MM firm.

 

Don't delay. It sounds like you've spent enough time in school and messing around. If you were to delay and start FT in 2018, you would be 26 years old only a couple months into your first full-time job. Just get your life started and come to terms with the fact that you're going to have to find another route into IB (maybe as a post-MBA Associate) if it is truly what you want to do.

 

Honestly I wouldn't. Just because you delay graduation by a year doesn't mean you're going to get a spot. What happens if you don't get a SA offer? That would just be a waste of a year then. (Unless you have another reason to delay it although in your post I haven't seen any)

If you really want to get into IB why don't you build up work experience go to a top MBA program and then join as an associate?

 

get any job. get an MBA do not put off graduation. 2012 might suck even more, plus its highly unlikely you''ll ever make up the lost earnings potential by starting to work a year later...

 

Delaying graduation can be useful. I took off a semester (senior year second semester) to work on a startup. I also had a tough time in the 2010 recruiting season, so that was a big factor in my decision to delay graduation. I did much better this year. Landed a BB offer, so I think I made the right move for me.

 

If you plan on delaying graduation, first ask yourself if next year is really going to be any different. The economy has been terrible for years and we have no reason to believe 2012 is going to be any different. Your GPA will change only marginally at that point. At best you'll have one more summer of experience -- if you land a relevant internship. On the other hand, the price tag is often quite large, both in terms of opportunity cost and actual cost. I think you're better off pursuing another position and working on lateraling or breaking in post-MBA.

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 
CompBanker:
If you plan on delaying graduation, first ask yourself if next year is really going to be any different. The economy has been terrible for years and we have no reason to believe 2012 is going to be any different. Your GPA will change only marginally at that point. At best you'll have one more summer of experience -- if you land a relevant internship. On the other hand, the price tag is often quite large, both in terms of opportunity cost and actual cost. I think you're better off pursuing another position and working on lateraling or breaking in post-MBA.

Well, I have been interviewing at a bunch of MMs, boutiques, and lower level eco consulting firms but I would rather go through SA recruiting again. I know I would get a top 3 BB for sure. From there my plan would be to hopefully get a return offer or do MBB or tier 2 consulting. Honestly, I just want to go to a top b school, so if delaying graduation would help me for that that's what I would do. But, I wouldn't want to delay graduation if b schools would see that as a major weakness. I'm also a transfer (changeable GPA although 3.5+ already) so maybe that changes things a bit, I dunno. (should probably ask on b school forum, sorry for hijacking too)

 
deal_mkr:
do u have any more specific feedback from these interviews? its probably best to keep grinding this recruitment season...i echo the posts above that delaying graduation is probably not that great of an idea

I think it's a combination of weak GPA in a common major (3.5 in Econ) and the fact that I worked in DCM over the summer as opposed to a coverage group or M&A. I've also been grilled a few times on why my ECs haven't been more finance related. Also the lack of a FT offer from the summer has hurt as well. Although I think I explained it well, I can tell that interviewers looked down on it. That's why I think that I'm better suited for going into the SA pool again, but like some have mentioned earlier, the economy isn't going to get better anytime soon. Maybe lateral / post-mba is the best path

 

If you end up delaying graduation make sure you know why you failed this time around. I had been promised a job at the firm I interned at only to have layoffs at the firm cancel that possibility. I found this out late in the season and had missed applying to other firms because I was planning on returning to the internship firm. I didn't want to take a MM or worse offer because of this, so a delay fit my situation. If you have just not been doing well in interviews, delaying may be a poor idea because why would next year be different.

 

Mostly that my summer experience isn't great when compared to others (IB, no name). Would be fine for junior recruiting though. There are still a bunch of people that did summers at solid MMs and lower BBs still in my interviewing pool. None of the BBs and most MMs haven't been recruiting so there's still a lot of solid candidates without offers.

 

My thoughts on delaying graduation would be so that I could apply for summer analyst postions this summer. From what I heard summer analyst recruiting is not affected the same way that FT recruiting is, and many of contacts simply said that there was no room due to interns accepting their offers. I have pretty good relationships with the alumni that I've reached out, so while it is possible that maybe they don't like me, it doesn't really seem that way and that in reality it really was out of their control.

 

Just be careful because as in my school, the OCR website is very specific and you cannot change your graduation date. Also, since you used the OCR for FT recruiting, it won't be easy to convince the school administration as to why now you are delaying graduation and using OCR for an SA position.

 

I'm graduating this semester and my job search is not looking that great either. I've been working full-time at a decent non-finance job while going to school. How is it perceived if I stay at this job until I find something else versus getting anything remotely finance-related that may possibly peg me? I always get comments on it in interviews or while networking but it's not finance.

 

I do not care about the honors in the major that much. It is honestly an extension of the project I did for my "political science research intensive bachelor's certificate" (I am looking at how certain political institutions affects FDI inflow).

I am only doing it for the resume. If it will help me get into a good MSF program, then it is worth it. If it will help me get an interview at an IB, even better. If it has no value, then I don't want to waste my time with it.

My buddy, who just landed a job with Duestche bank, told me that being a student, regardless of only taking one course, will grant me the opportunity to get an off cycle internship in both the fall and spring. Can anyone confirm this for me?

 

I would delay. In the big picture of your career, a semester is absolutely nothing.

If you begin in a very weak role/area you do not want to be in, it will likely be extremely difficult to get where you want to be.

 
SKL004:

Brief summary:
Junior at a target school; Business Management/Econ Major; 3.6 GPA; four internships on resume - 3 AM and 1 summer IBD.

I'm considering stay a fifth year for these reasons:
+Pick up a minor in accounting
+Take 1-2 quarters off to study abroad / relax
+**Do fall recruitment twice**
+Figure out what I really want to do by taking up more internships over Fall/Winter/Spring

Cons:
Discuss? Do employers look down upon super seniors?

Are you doing this because you havent done recruiting at all for ibd or because you tried but didnt manage to get anything good out of this summer?

 

Take my advice for what it's worth as I'm a back office ops guy right now but nothing beats work experience and networking (at the company you work for and after work happy hours at the pubs frequented by employees of companies you want to work for.)

I agree that a 5th year when you don't need it seems odd.

I would prefer work experience or at least internships.

 

I did a fifth year (and a semester) for accounting as a second major.While I graduated without a job, I did land a RE finance role and going to do MM IB this summer. I would say it is in your story. If you have valid reasons for staying (like internship opportunity and adding a major) then I would say do it, as long as the financial burden of school is manageable. PM if you have other questions...

Authored by: Certified Corporate Development Professional - Director
 

You're going to turn down a "guarenteed $70k salary" [sic] to pay $30-60k to try to get an SA role? Honestly if you haven't already gotten one, there's probably a reason; perhaps you're better off paying that money to someone in the industry to get you in.

 
whynot123:
You're going to turn down a "guarenteed $70k salary" [sic] to pay $30-60k to try to get an SA role? Honestly if you haven't already gotten one, there's probably a reason; perhaps you're better off paying that money to someone in the industry to get you in.

Hahahahahaha!!!!! Seriously, kid your fucking retarded if you turn down a paying job for an unpaid internship. Get a job. Some idiot commented a few weeks ago he did 4 unpaid internships over 2 years & is still unemployed.

There is no guarantee you get an interview let alone, a job coming out of a non-target.

If you are stupid enough to pass on the paying job - you don't deserve an IB job.

 

I agree to some extent. The only thing is that I made no attempt at getting into ibanking until my senior year. Those that I've spoken to in the industry believe I can break in with my experiences and claim that I just need to wait for recruiting season. I'm thinking at this point I simply rebrand at b-school.

Although I'm likely to reject the SA role, I figured I'd throw the post out there because I know someone somewhere is thinking the same thing.

 

Vel ipsam id quaerat sit quia omnis. Et explicabo et nihil dolorem. Expedita repellat ipsam consequatur minus accusantium explicabo molestiae. Est impedit officia officiis cupiditate eaque. Eveniet voluptatem harum et quo ratione ab quasi.

Ex blanditiis non laborum autem ad cumque non. Consequatur ipsum sunt sequi ut quasi unde. Ratione placeat sunt exercitationem adipisci tempore sed minima. Eveniet itaque delectus debitis.

Optio voluptatum numquam ratione est est. Magnam accusantium nihil consequuntur. Amet consequatur molestiae vitae ut. Quos quam earum est soluta quos.

 

Deleniti soluta tempora voluptatem non non fuga. Ipsa doloribus harum sint. Voluptas tempora in pariatur et necessitatibus.

Aperiam placeat rerum qui est est. Ut magnam voluptas et ducimus voluptates quae ad. Et non autem eos amet. Explicabo beatae soluta et atque.

Fuga deleniti minima animi. Pariatur iste et id sunt eos. Qui est labore maxime eum in. Labore qui sunt dolorum asperiores qui facilis.

Libero quasi id facere perspiciatis et quis ratione. Optio sunt veritatis a rerum eius. Ducimus rerum ratione eveniet sapiente ut exercitationem.

 

Porro assumenda voluptatem ipsum expedita voluptas repudiandae sint odit. Est qui qui nulla fugit. Fugiat unde debitis sunt quia. Minima est aut reiciendis amet tempora. Asperiores perferendis sint cupiditate sunt.

Sit praesentium ut exercitationem illum. Sequi minus autem a tenetur. Accusantium blanditiis occaecati molestiae quasi aperiam. Voluptatem quaerat neque consectetur voluptatibus voluptatem veniam dignissimos. Vitae et voluptatum dolor doloremque. Dolores illo sunt corporis omnis consequatur reiciendis voluptas. Non et dolores laudantium est dignissimos consequatur.

Reprehenderit consequatur laudantium omnis quis omnis. Sed quaerat voluptatibus nam qui. Voluptatem consectetur id ut et. Veniam harum perferendis sed rerum quidem ut soluta.

 

Quisquam ut quo nulla ut maxime. Qui et dolorem magnam ut laudantium et vitae. Est velit aliquam et velit. Veritatis corrupti sit ut vel non.

Ut et minus voluptatem enim assumenda quis officiis inventore. Cupiditate quia nemo harum id repellat. Et provident ut aut quis labore. Architecto porro temporibus ut adipisci aspernatur sint commodi.

Vero voluptas labore nemo magnam adipisci. Reiciendis vel error ad modi et officiis quasi qui. Voluptates et quis corrupti autem fuga et est.

 

Quasi neque minima reprehenderit quod voluptas est. Nesciunt quia omnis molestiae placeat eum labore. Similique veniam et sit molestias corrupti debitis aut blanditiis.

Quia in placeat vero eum. Doloribus natus explicabo est id. Et voluptas eaque ex. Qui id maiores autem commodi. Id deserunt quia doloribus excepturi.

Quo dolorem cupiditate et. Necessitatibus fuga aspernatur et asperiores voluptatem voluptas aut. At sunt ratione et distinctio. Distinctio aspernatur aut quod sed consequuntur. Recusandae voluptatem nesciunt nam distinctio tempore veniam.

Vel consequuntur praesentium dolorem soluta. Placeat ex qui occaecati dolorem id incidunt. Et ducimus consequatur et. Doloremque vel explicabo et ea rerum possimus libero.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
kanon's picture
kanon
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”