2024 May grad, no offer
I graduated from a target (an ivy) with a 3.7+ GPA with prior ib and pe internship, but I'm still without ft offer. I've been networking non-stop since last summer, but I didn't see many postings and striked out on a few interviews I had. Many of my nowadays calls just goes "it's a tough market -> check back in mid-November -> good luck." I know it's going to be hard, and I'm not in a great situation. Not too sure what to do though, and wondering if others in my situation found a way in and how.
I've also been looking for valuation analyst or due diligence roles, but there just doesn't seem to be much for recent graduates out there. Any advice/tips would be much appreciated.
Why were you not able to secure a return offer?
The team only had space for 1 intern out of a few. There was one analyst I worked closely with who vouched for me hard, so it was a close cut apparently.
whats the point of asking this question...
Because that will come up during the interview process.
Hey man, know it sucks - I was in a similar position not too long ago but was able to secure something. Networked my butt off everyday and eventually just had to wait for the right opportunity to present itself. Thing that kept me going was knowing that at some point, all of the hard work would pay off and something would land. Would be curious to hear about someone's views regarding the analyst hiring in the coming months, and as to whether you guys expect it to pick up or stay the same. I have a few friends at regional boutiques that are also keen on trying to lateral ASAP, and from what I've seen it seems like the earliest time you can lateral would be around 6 months. At the end of the day, all the hard work will pay off man, just gotta keep pushing and doing the right things.
Hey, huge congrats. Great to hear your efforts paid off. Just curious - did you find the position you ultimately landed by networking around or by applying to online positions?
was in the same boat also w no return from ib last summer but got a job in fp&a & started in july - I've still been interviewing for other roles in ib / pe tho and networking so i can lateral
I’m in a similar boat with no return offer last summer and got a back office role in July. Been interviewing and networking but I keep getting rejected in interviews cuz they want people work experience. Tough situation overall
What kind of a back-office role is it? To be safe, I'm trying to expand out of just IB/PE search, but not sure what're the options available.
How did you find that FP&P role? I see many FP&P roles that say 3+ years of experience, but I guess there's some FP&P roles for fresh out of college undergrads
i found it on linkedin! i have a bunch of saved searches like 2024 analyst, investment analyst etc. my school’s handshake also helped me too
I feel that November comment... as a fellow '24 grad job searching (T25 MBA).
Keep networking / grinding. Take some time off for Thanksgiving (no one will be responding to your emails / updating you on applications). Same with the 3 weeks from mid December to the end of the first week in January.
The reality is, there is a chance you might still be job searching in Q1 2025 next year. I'm trying to pick up part time / freelance work as I continue the interview processes I have for FT. Just not getting my hopes up, want to keep busy with something I can put on my resume though.
Yeah, although I'm really hoping I have something before the year is over... What kind of part-time/freelance role are you looking at?
Mix of different things but mostly around startup business operations (I come from an operations background at corporate companies). Literally anything to keep myself busy. I was one of those MBA folk that was hoping to transition from an ops background to strategy / finance post MBA. No success and this sh*t job market doesn't help.
Interesting anecdote I've noticed while networking. A lot of 2008-2010 graduates are much more receptive to getting in touch with me and giving sincere career advice vs. many of those who graduated in 'boom' times (late 2010s). Has happened more than once. Might be helpful for all that are still looking on this thread.
In similar boats, working in alternative investment/asset management and allocations right now. Been seeing some openings for FT '25, anyone tried or know if it would be worth reaching out to people to apply for them, especially since some of them even let you start in January, assuming you are a December 24 grad so theoretically it should be close, right?
I would personally do one of the below. But it really depends on what your financial needs are presently (ie: do you have loans you need to start paying down):
1) MSF from a good program.
2) Fulbright scholarship - it's prestigious and an interesting life experience that can explain why you're looking for a role post grad. Will help with MBA admissions.
3) Teach For America - similar to the above. Will help with MBA admissions.
4) Regional boutiques - in my mind this is the best option if you just need money but it also is sort of a tacit acknowledgement that recruiting didn't go your way when it did for others in your graduating class
5) If you really want to shake things up - Peace Corps but you won't be able to apply for jobs while you're posted in the middle of nowhere so I would only do this if your next step is direct to MBA or are okay with a little more uncertainty in your life.
You could find a normal job in FP&A or something but that, to me, personally feels like a boring way to waste your early 20s. You're young, have no obligations to anyone else, and hopefully still okay living like a college student so you should either do something intense that pays off long term (IB) or a new experience that you'll look back on fondly forever (Fullbright / Peace Corps / Teach for America). However, I do understand that you might need money so I can understand why finding a normal job might be appealing.
OP could easily land something in Finance and lateral in 2 years when the market picks up.
Yes, TFA and the Peace Corps is a great experience but it isn't for everyone. It certainly will take some networking but I don't think their "early" career is derailed if their first role isn't at MBB or an EB.
Curious to learn about perception of Teach for America for people in IB/PE. I understand it's a prestigious program, but I heard some people in the industry look down on this program. What're your thoughts?
If you look on LinkedIn, there are a few TFA alumni in finance. You can try pinging them and asking them about their experience / making that transition.
I doubt anyone views it as a bad thing. Probably neutral. Only thing is they will give you 0 career credit for doing this, so you’ll likely start in IB as an analyst unless you go to bschool as a step in between.
For what it's worth, it has truly been a crazy competitive job market this year. The cliche rejection email about it being extra competitive this cycle is actually true for once.
I conduct first round and superday interviews at my boutique. We're small and not super well known, so normally, we'll get a ton of leftover candidates that couldn't secure a FT offer along with a handful of really good ones (~3 - 5) which makes post-superday deliberations quite easy and smooth since that's the # of spots we have...
That was NOT the case this year. We had ~3x the amount of qualified candidates that we had to argue over. We had to eliminate candidates because they forgot to send one person a thank you email after superdays just for the sake of filtering down. We never would have cared in prior years, but we simply had too many good applicants and too few openings.
No idea what it is, but this year, there are so many candidates with great summer analyst experience on their resumes but no return offer because no offers were given to their entire group. Never seen so many of these situations before. I'm so thankful it's not me recruiting this year...I would be cooked for sure.
I'm not trying to be a jerk by saying this but did you go to Brown? I keep hearing kids out of Brown in this exact position.
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