Job Prospects for class of 2009
I am a senior at an Ivy and was not given a FT offer from my summer internship. There are astoundingly few firms doing FT on-campus recruiting - essentially 10 or so quant hedge funds, 2-3 PE shops, ~5 lame mutual funds, 2 BBs, though the usual consulting crowd is there. I have two general interests for FT work - trading (was a commodities trading SA) and VC (no experience at all, but find technology exciting personally).
The difficulty of getting a job this year through OCR has dawned on me, so I am considering making a list of other companies in my areas of interest - trading: HFs, energy companies, foreign sell-side banks; and VCs - and essentially cold calling them for a job, perhaps through an alum if I can find one. To those here that have successfully found jobs/internships through cold calling - please share your story/tips/advice with me in this thread or through PM.
My other option if the above doesn't work is to pursue some sort of higher schooling like a masters degree and wait for the market to recover a bit. Please share your thoughts on this as well.
i'm in a similar position. senior at an ivy with no offer from a bb SA s&t stint. OCR is quite bad, but many firms not coming on campus for interviews, let alone presentations. other firms are coming to interview but nobody knows if they have any intentions of hiring (both MS and GS S&T is coming...are they actually going to take anyone? probably not...)
my plan is teach for america -> law school if i don't find a job i like
One downside of a master's degree is that it leaves you overqualified for many positions, at least in the mind of the recruiters. Thus, even with an impressive resume, the gains to be reaped are minimal for anything other than a Princeton Master's in Finance.
I'm just a Master's student and school year intern, so take my opinion with a grain of salt. I went to a non-target undergrad, didn't like the offers I did receive (mostly corp. finance & development), so I went to pursue a Master's at a target (non-MBA program). In regards to being overqualified for some positions, you could be. But it seems as if many firms are receptive to Master's candidates. I've just cold called and cold emailed recruiters at firms if they're interested in Master's candidates to interview amongst the analyst class and most of them said yes. I think recruiters will be sympathetic to Master's candidates in this and upcoming recruiting seasons for the next year or so because of these market conditions.
Just a guess though. Good luck with everything! :)
definitely knew IBD analysts in BBs who had masters degrees. not out of the question.
what type of masters are we talkign about? Econ? MFE?
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