No 25 SA - Has anybody ever received a top FT after no internship?

Really crushed. Went through 20 final rounds at top firms and just kept getting unlucky despite having worked day in and day out for two years. 

Has anybody ever done nothing for a final summer and still received a top FT offer? 

have an unpaid internship for the summer at a boutique. 

feeling depressed and suicidal. i really tried my best. 

17 Comments
 

It's not the end of the line bud, if you don't give up this will make you a lot more successful throughout life vs if you got the first one. Your mountain is a lot higher to climb than most, meaning that your story will be all the more legendary

 
Most Helpful

Brother, your career is a long way from over.  I totally understand where you are coming from.  When I was graduating, even coming from a top school, there were plenty of kids who failed to get the "prestigious" names on their resume that they had dreamed of obtaining since HS.  Most that I knew did everything right, but just didn't have the soft skills built up quite yet to get past the final round super day.  10 years out, most of these guys have caught up or surpassed many of the kids who did receive offers at top BB/EB/MBB.  I'm saying this as somebody who did receive an offer at a top bank right out and have stayed in contact with many of the guys I graduated with.  The ones who ended up successful shared one common ability: the ability to prevail.  You may be too young to understand this now, but what job you have first year out of college is really only 1% of what it takes to attain long term success.  Many of the people I saw took an alternative route, whether that's taking an offer at a boutique/big 4/corporate position and then hopping into a top MBA program, or going straight into a top MsF program and then re-recruited for Summer Analyst positions post Sr year.  My trajectory was BB IB-->MBB-->T1 RX CO, and throughout my career, the one thing that keeps surprising me is how disillusioned the odyssey for prestige, money, and corporate glory can really be.  Being surrounded by people who care about those 3 items more than waking up the next morning really skews the meaning of life and the meaning of having a job in general.  These people are often so caught up in the mindset that a prestigious job will bring this ultimate sense of self-fulfillment and fix every ailment or insecurity they've ever experienced that they lose sight of the true meaning of life (starting a family, maintaining real friendships, taking care of their loved ones, doing work they are truly passionate about, giving back to their community and neighbors, making the world a better place to live in, etc).  Please don't delve your emotions so deep into this distorted disposition that you feel you are worth less as a human being just because you didn't win a competitive internship. 

 I know you wanted to hear direct and actionable advice on what to do to combat your undistinguished resume for FT positions but, first, you need to know that what you are feeling right now is normal, but that doesn't mean it's the right way to go about life, but what you should be doing is 

#1. Very bluntly, stop feeling sorry for yourself.  Take the words "unlucky" and "lucky" out of your vocabulary.  If you keep thinking that the results at the end of a super day boil down to luck, then you will 95% of the time find yourself on the other end of the spectrum.  By feeling that success is about "luck" you are putting yourself into the disposition that there is nothing more you can be doing other than allowing the world to spin while you wait for it to hand you your slice of the pie.  Start reflecting on what you could have done better.  Were there any moments of awkward silence in any of the rounds?  Were there any technical questions you weren't prepared for?  Did you go out of your way to introduce yourself to people in the office?  Did you keep referring to the paycheck or prestige when asked "why insert firm name"? Did you follow up with thank you emails? Did you take the time before the superday to learn recent firm initiatives/deals and build real relationships with any of the guys working there?  Did you do a good enough job at convincing the team that you are passionate about the work and a hard enough worker to learn the difficult technical skills?  If there was a superday dinner or lunch, did you sit around and wait for people to ask you about yourself or did you come prepared to conversate and make yourself out to be someone they can sit in a room/airport with for hours at a time? Are your excel skills up to par with your class mates receiving top offers?

#2. Look for ways you can leverage your unpaid work experience into something that will pay you well enough.  Look at people who worked/interned there prior to you.  Where did they exit to?  That is a connection just as solid as a school alum.  Take this internship as an opportunity to gain experience in different areas.  Ask for more work, even if you feel you are being robbed because of lack of compensation.  

#3.  Look for firms you would love to get full time offers with, and target the ones that have brought kids on that weren't traditional Summer Analysts/interns prior to Full Time.  Begin reaching out to people now.  Get any application like rocket reach or Apollo that allows you to find email addresses with just a name.  Reach out to as many as possible until your fingers are sore.  Places that recruit for FT certainly exist, and even if you have to go to a Big 4 or smaller Accounting firm, this "brand name" will definitely allow you to penetrate more prestigious firms later on, given that you can either network and show tremendous technical aptitude or rotate in from a Top 15 MBA program.

#4.  If #3 doesn't pan out, look for top MsF programs (Vanderbilt, UVA, UT, SMU, UCLA, Indiana U, Georgetown, Villanova, Johns Hopkins, MIT, Princeton, the latter of which are quant) and then look to re recruit for SA or FT positions, and this will expand your alumni network tremendously.  

I get that it feels like your life is over, but if you can show some grit, and continue to improve yourself professionally and personally, I can promise that you will find yourself exactly where you want to be in 5-10 years laughing at yourself for being so ignorant and feeling your career was over at 21 years old.

 

this is the most incredible thing i have ever read. 

thank you for the bottom of my heart. really really appreciate it. i will be coming back to this, over and over. 

 

In my experience, they produce very solid candidates but get the sense that most go into quantitative aspects of finance if finance at all.  Definitely a reputable enough institution to create opportunity in the NY/MA/VA areas.  

 

exactly, grit is the main indicator that someone will succeed

long-term prestige loses all its meaning when those who have grit surpass those that treat their job as  prestige or paycheck venues

it also builds more resilience to not get something you really wanted at first, which may also be used as fuel to double on effort and become a way more competent candidate for many roles

those moments break or make you, so don't let it brake you OP. You have a long career ahead which it may surprise you in unexpected ways if you put the work

incentives trumph ethics
 

Reclass by taking an additional semester and try again with recruiting. I did that for IB and it worked out in the end.

 

ah i cant really afford another semester (+ i am international), so will have to try and shoot for FT. but im, hopefully, on it. got a number of calls set up for the week. hopefully, something will stick. 

 

Yes, I did. In my 2nd year summer (4 year course), I did an internship in consulting. In my 3rd year summer, I didn't get anything at all and decided to go travelling for a few months by myself. In my final year I applied for IB and managed (by the grace of God) to get a FT offer. 

I would not recommend doing nothing at all in your penultimate summer though. So your boutique experience is still extremely useful. 

If you are applying for banking it is harder to get FT offers without converting. If you are doing mgmt consulting, then it is much easier since firms fill less of their incoming class with those who converted.  

 

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