0/12 on Superday Conversions depressed af
Even with the lateral market being as hot as it is, going through a massive dry streak right now. In 6 of the 12 superdays, I was the 2nd choice being passed over for someone who already had investment banking experience. None of these opportunities were earned through networking; only cold applications.
In 3 of the cases where I was passed over, I was recommended by an MD to another group within the same bank, which also led to superdays.
I've interviewed with every middle market bank imaginable and I'm still striking out. GPA (3.2) still haunting me even with 2 years of relevant work experience (all M&A related consulting).
Throughout those 12 superdays, I have missed 0 technical questions and hit it off with most interviewers. My story is solid since it gets me to the superday in the first place.
Behaviorally, I seem to do fine as I make it to the final round, just can't close apparently?
One process went 16 interviews, 2 case studies (2 LBO models), 1 writing assessment, and 1 presentation - I'm not kidding and willing to roast this bank in the comments. This is a 2nd year analyst position lmao.
Advice really needed here. Very down and out right now.
TL;DR - Resume gets hits, do well enough to get superdays, but can't close.
Let that pain sink in. Feel it. Become numb to it. If this is the career you want, keep grinding man. They obviously saw your potential. Focus on that. Maybe the timing isn’t right yet, but it’ll come. Be grateful for adversity.
Most of these had to have come down to analyst experience or something that they feel is plug and play. I don't think it's 'your fault.' Even though the lateral market is hot, I think there is a strong preference for people who need minimal if any training given the workload and WFH situation. Keep grinding, it will happen.
Stay in touch with people at these places, wouldn't be surprised if you end up working at one of these firms at some point.
Hope you're right. I'm not giving up, but definitely demoralized.
Which bank was the one with the absurd amount of interviews lol
Know a former employee at FT who had to go through something similar as an undergrad. I think it depends on the candidate though. Have been a part of these candidate discussions and know certain people with high GPAs on the team who automatically subject low GPA people to several rounds of technical interviews and multiple modeling tests just to make sure they are capable of doing the job. Perhaps that's what this bank was thinking too.
This is probably what happened, especially if you know who this VP was. The VP & associates told me the models were the best they've seen from a candidate at both the analyst/associate level, yet apparently not good enough? They had 2 interviews with me after the superday, which was even weirder.
Like one of my VPs says, "no emotions, don't feel anything".
I think if you'd been gunning for a 1st year analyst position you'd converted some. As poster above mentioned the environment is really looking for "plug and play" laterals, which is a sentiment I think has also always prevailed especially for 2nd year positions. You have no direct banking experience and there are many candidates with banking experience you are up against - if you want an edge then I think you could leverage your 2 yoe against 1st year lateral candidates for a great shot. You're obviously qualified, I think you will come out on top if you stay hungry but go for 1st year positions. In the long-run, it's worth it if that's the sacrifice it takes to break in.
Interviewed for both A1 and A2. A majority of the positions out there are 2nd year, but I kept getting looks. Will 1st year slots open up before summer?
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