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Lots of applications, absolutely no interviews.
 

SymphonyBanker's picture
(Baboon, 113
 
Points)
 on 6/29/12 at 10:26am

Hey everyone,

I'm a recent graduate from a semi-target (BBs recuit for back office here... sometimes.) My biggest weakness is a lack of an IB internship while in college. I've been networking as much as I can for half a year now and applying online. I’ve had a LOT of networking calls, all through alumni and referrals, but most have concluded with one of three things:

1. “This is an awful time for the industry.”
2. "I’m not really sure what to tell you, we mostly hire from interns”
3. “You’re doing all the right things… just keep talking to people.”

I've applied to maybe... 40 - 50 positions at BBs over the past four months. For roles I REALLY wanted, I also emailed MDs in the teams, and sometimes got responses. I have not had a single interview for a real IB role; I recently did interview with a BB for a support role and got some good contacts.

So, my question is - is this normal, or do I need to change up my game plan? Should I stay persistent, or just assume I'm majorly under-qualified everywhere? My main back up plan is to try for fall resumes.

Here's my resume:

http://www.razume.com/doc/3/a9778675-6fef-44c5-986...

Thanks a ton for your feedback!

Tags:
re-ib-ny's picture

To get an IBD role at a major

PE
(Gorilla, 688
 
Points)
 on 6/29/12 at 10:50am

To get an IBD role at a major firm, it is very important to have had a summer analyst position in your rising senior summer. Unfortunately, the key entrypoints have already lapsed, and waiting for the next round of fall recruiting is not likely to improve your candidacy.

I recommend you recalibrate your expectations and take a finance-related job (like the support role you mentioned). In rare cases, people get lucky and can get transferred internally to better divisions if they are absolute top performers, though I would not bet on this. You should look to position yourself for a solid MBA program and attempt to enter banking as an associate, if this is an industry you really want to be in. Next time around, you should make sure to be aggressive and early in your networking and recruiting efforts; in this industry it is difficult if not impossible to get back on track once you have fallen behind.

MangoBanker's picture

I really think you should

(Orangutan, 259
 
Points)
 on 6/29/12 at 12:49pm

I really think you should contact boutiques in your area which seems to be NYC, if you don't have any experience at all...your resume seems like you've done everything not related to finance so its very difficult to spin your story......Or from my experience going to the Investment Banking Institute might help? Not too sure but I've met analysts who did those programs and got into BBs. So hopefully continue your search.

seabird's picture

Hate to tell you bud but

PE
(King Kong, 1,480
 
Points)
 on 6/29/12 at 2:09pm

Hate to tell you bud but 40-50 is not a lot. And I also hate to tell you, its may very well be a long, drawn out process and your life plans may be put on hold indefinitely. Your pain is felt and sympathized with though.

“...all truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.”

- Schopenhauer

losttraveler's picture

You're what 21 years old? So

(Baboon, 111
 
Points)
 on 6/29/12 at 2:42pm

You're what 21 years old? So you didn't make it to your dream IBD job out of UG... if you think your life is over at 21 when you have about 40 or so potential working years left... you need to look at the bigger picture here man. Get a finance related job in a support function or corporate finance at a F100 and do some fun stuff for the next 3-5 years (outside work I mean - travel, learn to fly, sail, whatever). Then apply to a top b-school and worry about your entry there. In fact, entering as an associate seems like a nice alternative to being the lowest ringed grunt in your early 20's. Be positive.

SymphonyBanker's picture

Thank you all for helpful

(Baboon, 113
 
Points)
 on 6/29/12 at 4:41pm

Thank you all for helpful responses! I'll definitely spend more time on boutiques. The problem I've run into with boutiques is that they seem to have no time to train people, so they want applicants who already know their stuff..

losttraveler:

You're what 21 years old? So you didn't make it to your dream IBD job out of UG... if you think your life is over at 21 when you have about 40 or so potential working years left... you need to look at the bigger picture here man.

I appreciate the advice; I don't think my life is over by any means, I'm just trying to figure out if I need to keep up submitting applications or whether I should change up my strategy.

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