3.3 GPA: Am I screwed?

I'm an econ major at a pretty good target right below the level of HYP, Wharton (think Columbia, Dart, UChic, Duke, and maybe 1-2 other schools). I know a few people in my hometown who have connections to BB IBD in NYC and other cities as well. I've heard that if you can network your way in, then your GPA doesn't matter as much as long as it's not super low. How true is that?

 

honestly, you're kind of screwed. ya, if you network you up your chances tremendously and you will get interviews (you're not screwed in this sense, but you better be a networking fiend).

however, even going into the interview, you're going to be starting at a lower point than more qualified candidates. you need to be that much more legit all through the interview process if you're a weaker candidate.

 

You're not screwed, but just realize that many other applicants will be applying from the same schools and the same major with a much higher GPA. An engineering major is not going to get scrutinized for a 3.0 to 3.5 as much as Econ or finance. Also, if you are applying to a larger bank they may have a computer sorting system that filers out GPAs below a certain level.

Main thing is, network your ass off and be prepared to answer in interviews why your GPA is where it is. If the correct answer is that you screwed around too much Freshman year, just point that out along with the fact that your GPA since then has been much higher. Unless your interviewers are total jerks, they will give you credit for your 'run rate' GPA.

 

All about the story -- are you a varsity athlete? That helps. Do you have work study? That helps. Is it one or two classes that you can point to, and the rest are really good? I know some poeple give engineers extra credit. But if you are kind of at 3.3 in most of your classes, and you don't have any serious time commitments or a good story as to why, don't get your heart set on IB. Bankers are GPA obsessed.

"A man is a success if he gets up in the morning and goes to bed at night and in between he does what he wants to do." - Bob Dylan
 

I have been networking and most MD's and VP's I have spoken with all assured me it will be very difficult to get a SA position this summer. Do you think there is any point to try and continue networking? If anyone have any ideas about M&A or corporate development internships that are even a little less competitive than IB, that would be greatly appreciated.

 
Best Response

Nbascian, I think you are confusing being realistic and giving up. SA recruiting has barely begun.

I mean absolutely no disrespect but It isn't "too hard" you just aren't trying hard enough. You have got to e-mail, call, and meet with everyone you can. Look up boutiques in your home state or near your university and call them and ask if they need interns. Apply to every SA position you can find through OCR as well as anything relevant, even commercial banking credit analyst positions or financial analyst positions at firms are good to have as an internship this summer when you decide to apply for FT IBD during your senior year. I promise you if you put in the time and effort, something will come your way.

I myself go to a semi/non-target and have a 3.3 GPA. I am a senior liberal arts major despite the fact that my school has a very good business school. I have had some relevant internships but nothing in banking. I networked hard and had numerous MD's and VP's from banks tell me that I had 0 chance of getting into investment banking and that I should consider another career. I used that as motivation, worked my butt off and networked really hard. I interviewed everywhere, cold called, etc and landed a FT offer with a MM IBD for after I graduate.

PM me if you have any questions or need some advice. I just went through this but for FT recruiting. You can do it, you just have to want it bad enough. Watch the video below and read the article below...those were big inspirations for me and kept me going.

http://vimeo.com/27933991

XX
 

Just FYI: Corp Dev at an F500 is probably a lot harder to get into straight out of undergrad than IB. Just saying

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

I guess I should frame this question a little differently. Would it be worth my effort to go hard at preparing for the interviews? Or would it be a better use of my time and effort to look for plan-B options?

 

I'd still prepare. The internship you had sophomore summer is more important than your GPA from my experience. You'll definitely get interviews if that MM is a name brand, otherwise it's tough to say but still worth preparing.

 

Et asperiores eos voluptatem quo qui. A dicta ullam distinctio autem nihil sit pariatur voluptatem. Perspiciatis dolor qui officia soluta consequatur quas inventore ut. Qui qui aut non et suscipit delectus provident. Voluptas optio quas at quia autem.

 

Id sequi assumenda qui. Magnam perspiciatis illum dolor numquam veritatis.

Dolorum corrupti id alias assumenda itaque distinctio voluptatem. Architecto veniam mollitia vel reprehenderit. Optio natus quia voluptatum voluptatem expedita et neque.

Quae nulla iste est eos exercitationem. Quibusdam maiores atque assumenda temporibus iure. Consequatur quam aperiam magni dolores error et laborum. Molestias ipsum accusantium voluptates praesentium. Et sit corporis maxime iusto quasi velit quibusdam. Et quis occaecati omnis autem sequi.

Quis non laborum sed vel. Dolores porro accusantium commodi est vel. Est consequuntur animi et iusto ullam. Eligendi itaque magni doloribus ut architecto. Aut porro aperiam corporis voluptas minus.

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
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
kanon's picture
kanon
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
CompBanker's picture
CompBanker
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...”