3.0 GPA, 2nd tier target, looking to get into FT IB
Hey everyone. I'm a rising senior studying finance and economics at a 2nd tier target undergraduate business school (think Berkley, Georgetown, Michigan) with a 3.0 gpa. Unfortunately I didn't have great grades early on in my career, but I've increased them substantially this past year (straight A's in the spring and this summer).
That being said, everything else on my resume is rather reputable according to people in the IBD industry. I have solid experience at private equity funds, a student-run investment fund, as well as volunteering and leadership roles on campus. I would say that the biggest flaw in my application is my GPA, which I am prepared to speak about.
Do you have any suggestions as to how I should navigate the FT recruiting process with a low GPA, granted it's beginning now? How should I ask for referrals based on a low gpa?
All forms of criticism are encouraged and are welcome. Thx in advance.
Network, network, network. You're at a target school which is good, but you're going to need referrals to help you offset the GPA. Other than that, prep hard for first rounds and know your stuff
No chance unless you network your way into an interview. Any cold applying will lead to your resume in the trash.
Also, you need to make sure your GPA answer is good, because it will definitely come up in at some point in the interview process
Would those “straight A’s this spring and summer” be due to everything being online?
Not trying to be a dick or downplay your hard work and I obviously don’t know anything about your situation, but that would likely be my first question if I was doing an informational or interviewing you and you said that about your GPA. I get it’s valid and shows improvement, learning from mistakes, taking things seriously now, etc. but I’d be ready for that one (or it’s just me)
Good point, thanks. I'll prepare for that.
Nah don’t listen to that guy, haha nobody is going to ask that question. Unless the person is a total dick
A little off topic but why do people say "rising" senior? I don't know if it's just me but when I see that, be it on here or some kid trying to network with me all I can think is that this person is a giant tool. For me it's as bad as those people who put incoming analyst on LinkedIn. Not trying to shit on the OP, just genuinely curious why people put "rising" in there.
I say it because it's the summer and I'm not a senior yet. I didn't know it was considered to be a toolish term. What should I say instead?
What is the proper term? Saying you are a senior is technically correct I think (junior year is finished), and saying you are a senior is ambiguous because I wouldn't know if someone just graduated or is a rising senior.
So what would you recommend I say?
I say rising senior, I've never heard of someone having an issue with it until now
I used to say this in networking emails - the intent behind it was that it’d be summer, so I was out of school, and in the fall I’d be a junior but since we weren’t in school I thought it’d be awkward to say I’m a junior as I hadn’t started my junior year yet
I do that too, and my thoughts are the same as yours. Why do you think the guy above is so upset about it then?
What do you mean lol?
They can’t put incoming? Why not?
networking is your salvation at this point. ideally you have one built, it’s easy to sniff out when people are desperate
What are some indicators that someone is desperate? Aren't most people desperate to get into the industry unless ur at a target with a 3.5+, meaning your chances are high and you can be relaxed about it.
Yes but I am a firm believer of building the network for when you do need it (when apps come out) and fostering that connection beforehand is crucial. If it is last minute before apps end I think it makes a difference and is perceivable.
Best bet, when applying don't provide your gpa unless it's required or they ask. Unfortunately most of the time it's required. All you can do is put your best foot forward and go for it, the worst they can say is no.
Similar spot here- how do people recommend networking for FT roles? Switching from a different industry so don't have any contacts in IB yet.
what’s your major? My brother had a similar gpa from an ivy doing electrical engineering and got interviews and offers but that was more S&T. You’ve got a chance, some opportunities will be off the table, but it’ll defo come up at a point even if ur looking at competitive roles.
Good point. I'm a finance major and economics minor
Roommate was in your shoes and networked his ass off, especially with fraternity alums. He was able to get a FT offer from a BB. Had similar circumstances of bad GPA early, but it was cause he was playing a sport at a D1 school.
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No, I applied online without any referrals. I just didn't put my gpa on the resume. That said, I have had past internships that I have been referred to by family friends. The PE one wasn't though.
network man. I had a perfect grade from an Ivy and it was hard to get a FT offer. The targets you listed don’t really strike me as targets tbh. I would network my tail off and maybe do corporate development instead of IB. The pay is decent and you can later get an MBA and cross over?
I honestly don't know what the difference between target and non-target. I listed those based on this post: https://www.wallstreetoasis.com/forums/comprehensive-list-of-target-sch…
The school I go to is considered pretty good and has an undergraduate business school, just like the ones I listed.
I would consider Corporate development but I don't know anyone who works in that industry. Does CIB typically hire those with a lower gpa because it is less competitive?
I apologize, it’s been a long time since I was in college. thanks for the listing.
hope you’re networking works out :) don’t give up
Lol they’re def targets not sure what you’re talking about (their business school programs) maybe not HYPWS level but still send a boatload of kids to IB
Agreed. Arguably more at times
it tends to pay well and is in-house M&A pretty much.
I’ve done it and liked it. I can’t compare pay because I came from M&A prior, but it was really good still. It’s definitely a good backup plan. It’s fairly competitive so don’t think “oh, no iBanks so I’ll just be in Corp dev”. Any job that’s giving you 6 zeros or more will require a lot of networking and trial and error. networking is really the key to most things.
Okay, thanks for letting me know about that option.
And yeah, u make a great point about networking. I know of people that have been hired at top i-banks with similar GPA's as mine. They were great networkers and did well on their interviews. I'm thinking I'll have to do the same if I want to be hired.
Hey man - love that you are still gunning for IB and not getting discouraged by a low GPA. GPA most of the time really means nothing to me, I have had interns under me that went to H/Y/P had normal to great GPA's and were complete idiots, i've also had non-target kids that have been awesome.
It's annoying how some in the industry use this as such an important point in deciding on candidates.
1.) Wondering - why do you not have a great GPA?
2.) Set up coffee-chats/informational interview phone calls with all seniors at your school who have already interned in IB/are interning in IB now/ or are incoming analysts right now...at whatever firms you want to work for ->ask these individuals for leads/advice etc... don't get discouraged when they're snobs and think your GPA is too low but don't actually know how to operate a model
3.) Put some strengths in your academic section i.e. is your finance GPA high? Accounting GPA high? Something high? Put Biz GPA: 3.5+ or whatever it is on there if it's better than your 3.0
4.) NAIL your story when doing informational interviews. When i'm talking with kids it is RARE that they have that good of a story or why IB, if you called me and had a stellar story i'd be happy to help you out... it's not hard to practice and craft a good one, just use mergers and inquisitions advice/BIWS guides...great formats on those
5.) BUILD relationship with seniors/younger guys and gals who seem like they want to help you and help you out...keep in touch with them and figure out how next summer recruiting is happening at their firms
6.) Don't think about your GPA so much also - you do not NEED to put your resume on informational interview emails, obviously if asked that's different...most people won't not respond just because they see you have a low GPA...personally I have never done that
7.) You can always ask after having a good conversation if they think it will be a big issue that you have a low GPA, BUT remember that, that is only one person's opinion and you just gotta hustle and GRIND
8.) Keep up to date on IB trends/M&A trends whatever sector you are interested in working in. If you are interested in consumer, fig, tmt...whatever it may be - learn a lot about X industry whatever it is, know deals, trends, general high level valuation so you can chat about this interest in calls -> if you can figure out what groups people are in before you talk with them (especially at higher levels) you should definitely know about their sector/trends/deals and prep some good questions,,,it will come off good for you especially b/c of the GPA issue -> you would be surprised how many 3.9+ kids from top schools do not do this when they chat with people and actually don't really know anything but just want to do IB because everyone else is doing it ---> so you can really distinguish yourself if you do this
Explore ALL avenues... are you a diversity candidate? are there any programs or things you can qualify for to help you get your foot in the door?
not sure if i've missed anything...probably have...anyways good luck and if you have more questions feel free to ask or DM me
Also, I personally know of an individual who had a circa 3.0 GPA and got into and works at GS in either IB/S&T...
Hey, thanks for this detailed comment. This is what I needed. Let me know if I can PM you. I can answer all of these questions for you can perhaps ask some more advice if you would be willing to give it.
Not to take away from OP or take up too much of your time but, wondering if I could pm as well? Pretty much same situation (solid finance experience, gpa 3.0-3.4) but at a semi-target/non-target depending on the bank.
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