Finding it Hard To Break Into IBD
I have been a member on this forum for several years now and have followed a lot of the advice on the threads but am still getting nowhere in my 'breaking into IBD' quest.
Background:
- I study a very relevant degree at a target university (London, UK) graduating July 2014
- I have solid uni grades (will get a 2:1 minimum, can get a first also) and A level grades
- I have completed an IBD internship at a no-name firm abroad, and a winter internship (4 weeks over the Christmas holiday - extended 'spring week' if you please) at a MM firm in London. (Both places said I could return if I wanted so I'm not anti-social/they didn't hate me haha)
- I have solid EC's - was the President of a Society, Team Captain of a Sports Society etc and a unique EC too
What I have tried:
- Applied for spring weeks, summer internships, off-cycle internships (for my 'gap year'), summer again (this year) online.
- Checked my application with my uni careers service and with people at the respective banks (if they offered to see it) before sending it
- Networked with all levels of staff across several banks/boutiques who all said 'you have a solid background/resume/etc so you will be fine - just apply online' (not boasting but some people also said my CV is better then theirs!) I also get comments like 'I'll be very surprised if you are not interviewed' or 'dont worry you will land something/will be placed'. When I return to my network to ask for advice they say 'its competitive, the economy is down, etc'
- Practiced the tests a lot and made sure I passed all of them after applying (I checked with HR)
- Applied early on in the year (everything was sent by October)
I have landed two BB IBD (top 3) interviews in 2 years - twice at the same BB - so I don't think I bomb interviews/come off badly. The guy said I'm good enough for FT and should get in touch when FT roles are posted. I got to round 2 in both cases.
Whats going wrong for me? What else can I try? Is IBD just not for me? What shall I do?






Hi Charles A bit off topic
Hi Charles
A bit off topic but where do you practise your numerical and verbal reasoning tests? What resources do you use for them? Care to share?
I brought a package off
I brought a package off wikijob which really helped. My careers service also had some to practice from and so does 'Assessment Day'. You can also go onto SHL etc to practice - they are pretty good. I'm also part of a diversity recruitment agency who sent me a couple of practice ones which were very similar to the real thing.
Hope this helps.
Have you established rapport
Have you established rapport and relationships when you network? Networking isn't just getting people to look at your resume... they need to both like and see potential in you. That's what will separate you from the other very qualified students out there.
Yup. I dont email my CV on
Yup. I dont email my CV on the first email or anything like that - I only send it to them if they ask for it. Most are happy to chat/like me etc, request my CV, say its solid and usually end with 'apply online etc you will be fine and let me know when you get an offer at this bank.'
You graduate in 2014. You are
You graduate in 2014. You are still really early in the game. But I get that you are looking to improve on your approach. Just keep networking and stay positive. DO what mango said and build relationships through networking. Ask what you can work on in the mean time. You're good.
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But without a summer 2013
But without a summer 2013 internship he wont land a FT IBD job :(
I see your problem man!
I don't know how to say this
I don't know how to say this without sounding like an asshole, so I'm just going to go ahead and sound like an asshole.
For whatever reason, they don't like you enough. When you have a thousand equally qualified applicants, who are you going to hire? The person you like the best. Sure, diversity, nepotism, etc. all play a role, but at the end of the day, they have to like you better than the kid before you and the kid after you.
You could also be falling into the trap of only saying what features you have (grades, experience, skills, etc.) instead of what benefits you bring to the table. In other words, you don't hustle. Yeah, you have a great resume, but what do you offer that none of the other applicants do?
... if they don't like me
... if they don't like me enough then Im not cut out for IBD?
I know plenty of people with much less on in their CVs who go the through the process without a problem... more often then not they are not bringing anything different of the table vs me... Not sounding egoistic about it - just confused!
I do have a few things that I haven't seen in any other persons CV... Trouble is that my applications are not going through. If I was getting a bunch of interviews and failing them this would be a different thread ;)
man that sounds rough, I feel
man that sounds rough, I feel like they are leading you on. I thought that LSE was one of the best recruited schools in the world comparable to Wharton hmmm. Have you considered Sales and Trading or Capital Markets positions like Debt Capital Markets? Do you have any backups plans if you don`t get into finance?
Is it possible you don't
Is it possible you don't really want to do banking and it's coming through (maybe subconsciously) in your interviews?
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Yes I do feel lead on. I
Yes I do feel lead on. I would prefer them to say 'you suck don't do banking' if that's how they really feel. :(
Yes I also thought LSE was one of the top target schools which is also why I'm confused because I don't think I'm at the bottom end of the pile in terms of the quality of an application (I have seen loads).
Yes I have applied for capital market positions too.
I applied for ER at some places -auto dinge. I haven't applied for S&T as it doesn't interest me/suit my personality/match my career goals.
No backup plans because I honestly thought this would work out :(
SirTradesALot - this is what I started to think but the lack of interviews (only had two and both were at the same BB year on year) doesn't really make sense. If I was completely flopping interviews I don't think I would have been invited again by the same BB and then get told to keep in touch for FT positions? Either way - I have no idea what else to do career wise as Ive committed to IBD for years now/still want to do IBD and the only 100% method i can see to help me figure out if banking is/isn't for me is to complete a proper internship which is what I'm after (but not landing).
I think it's fair to say I'm
I think it's fair to say I'm pretty fed up and frustrated now rather then not interested in IBD. I don't get why it's so hard for me to get an interview let alone an offer.
London SA recruiting is
London SA recruiting is pretty much over now from what I know so - sorry to say this - but your not likely to land anything for next summer. I would just forget IBD given your description above and choose something else. Its not working out and theres no point banging your head in the wall over it. I know its not what you want to hear but I'm not sure what else to suggest as I'm in a similar situation and have given up on IBD too.
But I have no idea what else
But I have no idea what else to do... nothing else interests me :(
Cujo, I don't think you are
Cujo, I don't think you are really in a position to tell someone to give up on IBD.
London SA recruiting isn't over--there are a number of BBs still giving out interviews--GS just sent out a bunch of first round invites. Also, not getting an SA doesn't kill your chances. About 1 in 3 BBs filled their spots with their SAs this year in London. The other 2/3 were still recruiting for at least a few spots. True, FT recruiting is tough, but not having an SA spot won't kill your chances.
Charles, keep doing what you're doing. Don't count on your contacts to get you interviews--it's much less common to get interviews that way in London--but do use them to check over your apps. Make sure your cover letter is as good as you can possibly make it. For London recruiting cover letters are very often the deciding factor.
Sounds like you've had a tough time of it, but I know a number of people who have gone from getting one interview, or none, for spring weeks, to getting 3-4 SA offers and multiple FT offers.
Mike - thanks for the reply.
Sorry CP I meant forget IBD
Consider trying to network to
I have applied everywhere
I'm in a similar position. I
Yup I request feedback. It's
Bit off topic but does anyone
Any chance you could just
Nope. The MM firm hired a
Charles-perry: Yup I request
I don't expect to be fed
We need to define networking.
Sure. Firstly, I email them
There might be something in
Yea I have shown it to loads
I guess welcome to the crazy
I thought it was bad luck but
It's not really about having
Could it be your Cover Letter
I'm not moaning. I'm trying
Charles-perry: I'm not
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I'm not saying its great...
if your CV is strong, as you
This is also what I thought.
just reading through this
CP check out my bland CV
Too strong... for IBD? Surely
I'm not saying that you are
Apologies for the confusion.
From going through this
I'm not entitled to anything
Hustle harder. I had no
Yup will keep hustling but
This reminds me of my own
CNBC sucks
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