2021 FT recruiting help
Here's my story- last year I was a stupid sophomore at a pretty good school, thought PE was the ultimate career path because I read this forum too much, ended up only recruiting for PE jobs for my junior summer. So, for this upcoming summer, I'll be working at a mediocre MM PE fund where the analyst role will be 95% sourcing and there is little room for advancement.
I've decided I want to switch over to IB to keep my options open. I have a strong resume, I go to a school that is somewhere between a target and a semi-target, but I have no idea how to approach FT recruiting.
I would start networking now, but it seems like that could be in bad taste given Corona and the economic outlook. On top of that, at least Citi and Moelis have given FT offers, so it would be a complete waste of my time for me to network at either of those. Is it worth waiting another month or two to see how things shake out at other top banks? It seems like at least a few others could be likely to give FT offers, so it might be worth not networking until its clear places will have space for me. Finally, even if banks aren't giving FT offers to all interns, isn't it pretty unlikely that there are a lot of FT openings anywhere? From reading posts on here it sounds like people are accepting lower headcounts and higher offer rates due to virtual internships, making recruiting for FT even tougher. I plan on grinding for a FT offer this summer so I'll at least have that, but I probably won't be able to lean on people at the firm for recruiting help as they'll be unhappy that I'm shopping their offer. Any tips on which BB/EBs might be the most likely to have space for FT spots? I'm not IB or bust because I'd be better off returning to this PE shop over some garbage boutique IB, so I think it would only be worth going to IB if I end up at a BB or EB.
I don't really have any IB people in my network, so do I just go following the same networking tips as if I was a sophomore recruiting for an SA position? Are people going to be less likely to talk to me given I'm not eligible for SA positions where they do most of their recruiting? How do I spin the story of why I want to go from PE->IB before even starting my PE internship? Thanks for any tips.