2020 IB SA - Alternative Plans?
Hello all - I hope you and your family are staying safe and healthy.
As pretty much any other incoming IB SA, I am concerned about the impact of the COVID-19 on the internship offers/FT conversion rates, and thus my career direction overall.
I come from a non-target college and have dedicated my sophomore year entirely to networking and preparing for the interviews to land a highly coveted IB internship at a top BB (GS/MS). As a result, I have missed out on being academically engaged with my department and college overall. While I maintained a high GPA, I was unable to conduct research and/or to form close relationships with the professors, either of which would put me on track for grad school applications (not something I have ever considered). But given the fluidity of the current situation, I am starting to get worried about having my internship offer rescinded or not getting any FT offers -- what should I look into as an alternative to a career in finance if things do go south? Should I try to develop relationships with the professors (remotely, lol) and ask to do some remote research to be on track for the grad school applications?... I appreciate any ideas and advice!
Exactly same boat, except that I still don’t consider grad school... I may defer my graduation by a year
What happens if things are not getting better within one extra year? Why not earn a higher degree? I’m on the same boat by the way.
If I were to take one year off, I would be graduating with my Master's in May of 2022. I think it is reasonable to assume that things will get better in two years.
Yes, the vaccine is ~18 months away, but there are multiple clinical trails happening all around the world. It helps, too, that some of the drugs have already been tested against similar viruses (e.g. remdesivir), and are at the Phase III of trials. Even the worse case scenario - no existing therapies work - still leaves hopes that a vaccine will be ready by the end of 2021.
But frankly, I do not even want to know what will happen with the global economy if no businesses are back on track for that long.
Just my opinion, but the greater risk is what all of this means for the economy when it comes to job security in IB. I don’t think people will be getting their FT offers pulled because of coronavirus, but more so because deal activity has completely stopped and there isn’t a need for as many new analyst or banks have to start trimming down.
I say all this to say I don’t think it’s best to partly decide on getting a masters degree or not based on when there will be a vaccine for coronavirus. I think it’s more pressing what this will do to the economy and what the damage will be from that. I’m having to start FT this summer from a masters program and it seems like it’s going to be a pretty much sink or swim situation because I basically just used my backup plan. If I make it through this, I’m choosing to believe I’ll be better off in my career because of all of this. If my offer gets pulled and I’m shit out of luck, I have no idea what I’ll do but I will have to figure something else out. Ultimately, all of this is a harsh reminder that this is the risk that comes with an industry like IB and there’s not much that can be done about it.
del
This is an overreaction. Universities will remain closed, but SA programs should still continue by the time they begin in June and I don't foresee conversion rates being far lower.
Are you currently working in banking? What makes you say that about conversion rate?
IMO 100% we will see conversion rates drop. By how much will depend on how long this goes on for/ how bad it gets.
Bump
i m new here. what does bump mean?
If you are very concerned you can look into taking the GMAT/GRE to apply to MSF programs. they’ll at least allow you to hopefully wait out the worst of an economic downturn
At officia quia beatae. Deserunt et occaecati itaque occaecati.
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