SA, No Offer, Wondering about Full Time

im guessing it was lehman...its only a small setback, just go kick some ass in fall recruiting

good luck

One other thing - I'm from a very non-target school (only a handful of wall street alums) and there is no full time recruiting, I networked my way in to Lehman (however I actually had no alumni there either)

the key is network with all banks and also Hedge Funds. Even try sales and trading, especially sales, I am sure if you love I banking you will like sales some sales mangers and traders make more money than investment bankers. In your case, I will try to reach out and cold call, try to get contacts from your VP's that work in other financial institutions. I am sure since they are willing to write you rec-letters, they will help you by giving some their contact who are willing to help. The key is to be aggressive and to start from now.

Have you considered MM/Boutique firms? Alot of the smaller teams are still hiring, and just because you are with a small team doesn't mean you can't work on big deals, you just have to find the boutiques with strong leaders (Ex-UBS LA types, etc. etc. for instance).

The best thing about some of these firms is they can afford to have a staggered hiring process, where they take someone whenever they come along, if the firm feels the potential hire is worth it.

Citygirl I have faith that you will make it happen. You have came way too far to quit now. I know you were pretty set on this banking thing, its far from over. Be strong.

"Oh - the ladies ever tell you that you look like a fucking optical illusion?"

maybe check out sales & trading and/or consulting
a year ago i would have said i wanted to "work more hours and make more money" but thats not necessarily the case
esp in this enviroment, banking seems like "work more hours and make the same money"

though if your set on banking check out the other banks and the boutiques as well. i think alphaholic is refering to Moelis, and that might be the kind of firm to look into.

Definitely check out MM/boutiques if you are open to them. I think given they way recruiting will be this year, we (I'm a SA also) should be open to any option, especially if we are not getting return offers.

I'm sorry to hear that you did not get an offer, but honestly you are a quality candidate to get into Lehman from a non-target, sounds like it really is a minor setback. Just keep networking, and be open to other opportunities in fields related to banking as well. Good luck - I think we all need it.

I think that people will definately be more understanding of your situation because you were at Lehman and they are aware of the situation over there. A friend of mine was in a somewhat similar situation, summered at a group that blew up and was able to get an even better job despite the lack of a returning offer. People usually hear about what's going on at other banks through the grapevine. Leverage the recommendations as much as you can, and try to take it one step further by asking them to introduce you to their banker buddies at other banks. That's what my friend did and it worked out perfectly. Be aggressive, keep your head up and I'm sure things will work out for you.

Current bankers?

Go to MBB for 2yrs==> MBA---> Associate in IBD or PE at a top firm

Given the market this is the best...

At our firm we reject no offer candidates immediately, many of my friends in other BB banks have confirmed this same kind of selection process at their firms..

If you are really good you will get an offer regardless the market regardless the team, HR will place you in another team etc...

My team and other teams often prefer to recruit a non-target with an undergrad in philosophy and no internship at all rather than a target-candidate with an outstanding CV and relevant degrees and IBD internship just because of no offer..

No returning offer = crap by default!

Most bankers are too arrogant to see that not having an offer can have a variety of causes instead of the obvious crappy intern cause..

Especially in this market you will have a tremendous disadvantage, honestly you are in deep deep deep
deep deep deep deep deep deep shit!!!!!!!!!!!

Go to MBB for 2yrs==> MBA---> Associate in IBD or PE at a top firm

It's your only road to happiness!

yeah, let's all just follow your dumbass plan which involves just 'going' to MBB, I didn't realise they were handing out free passes you retard

And we don't need to hear how you and the rest of your 'team' at your 'global' used car lot recruit new salesmen

what sorta commission you on?

honestly i think i am going to head for the master's path (hopefully berk or stanford for masters in finance). i am at a top bank but really do not click well with the group, plus i'm not interested in the product. i hope the market picks up when i apply again full time...

i have heard going directly for a masters can be problematic because then you have no true experience and now you're expecting to be an associate

If you want to keep doing banking, why should not getting a FT offer at your firm discourage you from doing so? It's understood that the economy's tough, the bank where you're working hasn't exactly had the best summer from a performance or publicity standpoint, and you have two VP's who are willing to vouch for you. As you said, only one person in your group got a returning offer. If I were you, I'd start reaching out to bankers and banking HR at other BB's and see what is out there. I understand your disappointment in not getting a FT offer, but most of your other classmates are in the same boat. Just keep your head up, stick to your story, realize that your not getting an offer is a function of the economy, and keep at it. Just be tenacious about your job search targeting the top banks and MM's equally -- you'll be surprised what a little tenacity and persistence can get you in this field. You were determined enough to get a summer analyst position even in spite of there not being much recruiting at your non-target school, so why let your guard down now? Keep at it and things will work out.

Also, pay no attention to anything globaldealmakr says. He has no idea what he's talking about.

Glad I wasn't the only one that smelled the absolute bullshit coming out of globaldealmaker. Because people can really waltz right into MBB. What an idiot.

Are you going to be a senior in the Fall? Given the location in your profile, there has to be at least a boutique in the area that will let you intern there during the school year and hopefully you'll get a full time offer from that. As long as you are planning on doing banking for long term, you don't have to start working at a BB. Take a front office job at a boutique and see how it goes from there. After a while, you can decide if you want to stay there or move to a BB which should definitely be easier based on experience.

If you're sure you want to do banking long term, it's not the end of the world if you don't start out at a BB. At least you have a BB internship on your resume.

ok so given the current market, what's the likelihood of finding a BB job for people without offers?

If you've got great grades, I would check out LSE Masters in Finance, Oxford Masters in Financial Economics, and Cambridge Masters in Finance. The problem with US school's is that there are literally zero legit Finance Masters degrees. Even Princeton, which is near impossible to get into, will not give you access to Investment banking front office. The Ivies and other top schools(Stanford, Berk) that do have some finance type masters are all Financial Engineering programs designed for math and computer geeks which never place front office. In the UK, they have schools with good 1 year programs which can land you in BB IB/MBB type positions. MBA is obviously out of the question. So if you do end up in a jam and without an offer this fall, you might want to take the GMAT and at least apply.

Also, be proud of what you have accomplished, especially from a non-target. Don't beat yourself up about it, your still in great shape. From your post, I gather that you have an honest desire to work in banking for good reasons and not exit ops and with your SA experience you know what that entails. I'm certain that if you can land an interview you have an excellent chance. Keep your head up, stay motivated, push to get a full-time offer, and develop a solid backup plan which will get you into banking in the near future should you be unable to get in this Fall.