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There's a 90% chance that we went to the same school. My roommate had a GPA only slightly higher than yours (still below 3.5) and got a banking job at a BB with 0 networking. You really just need to apply to the job postings on the career website. Participating in the ECs that lead to banking would pretty much guarantee you a banking job.
Your friend gave you some horrible advice. Plenty of people from top schools with high GPA's do get rejected every year, but it's not necessarily all about grades. Those sort of things get you in the door for an interview, beyond that it's usually not the deciding factor. Network where you can, don't bring it up unless someone asks you, and good luck with recruiting. You definitely have a shot if you put in some work and ace the interviews. I would focus on that before thinking about another degree.
your friend gave you what is likely true, but ultimately wrong advice. you do have a solid shot, even if your gpa is low, its just going to be a little harder. Things to do. -Networking is your friend, keep doing this as it will likely be the way you land a job -can you focus on a certain element of your GPA? for example, did you get a higher gpa in finance related classes? -move your gpa up from here on out my getting serious and focussing -do other things extra curricular that show you are into finance like investing clubs, trading your own book etc. -keep at it, you will likely face many rejections, but all it takes is one
With the advice he gave, he's no "buddy" to you.
My GPA was lower and also went to a non target. Just work your ass off networking and preparing for you interviews.
Thanks for the advice, I've already started preparing for interviews (bought the wso guide/taking some extra online finance classes, etc.) but I'm not sure i'll even be able to get the interview! Also to defend my friend, that's not all he said. He said he'd recommend trying to get into a rotational program instead and see if I could sneak my way into IB from there.
Didn't get any interviews lol. Any advice on what to pursue? Was thinking something along the lines of Accenture consulting->MBA
Have you gotten your GPA up? A 3.2 is going to make it much more difficult getting into a top MBA program or a job that allows you to get into a top MBA program. My honest advice, if you still want to do IB, would be to start reaching out to boutiques. Did the M&A advisory shop that you interned at make you a return offer?
"I talked to a fraternity buddy of mine who's a recruiter at top BB who basically told me 'dude we reject tons of 3.7s, 3.8s from Harvard every year, don't waste your time'"
lol. Your fraternity buddy is an idiot.
You'll be fine with a 3.2 in a MM or Boutique. Just keep grinding.
I'm not trying to discount your experience, but where are you getting this from? Almost every bank has a hard 3.5 cutoff from HR, and even then, hundreds of resumes with GPAs over a 3.5 are getting tossed. OP should definitely keep grinding, but just to be completely frank, a 3.2 is a severe handicap, especially from a non-target.
I'm a non-target with a 3.1 at a MM IB and know quite a few analysts who are non-target (don't know their GPAs). I know two analysts at JPMorgan under 3.5 who were also non-targets. To be fair, this was a couple years ago as they are both third years now.
However, I highly doubt BB banks are rejecting "tons" of 3.7/3.8 GPA students from Harvard. His chances are slim at a BB, yes, but I think he'd be fine at MM or boutique.
I think in general anything below the norm significantly hinders your chances in BB IBD. I generally think BB IB is overrated but helps me because most kids who apply to GS don't even know Moelis, Stifel, Lincoln, etc. etc.
A non-target Vp once told me that the industry is built to keep people out. I mean seriously, a average joe non-target kid with a 3.0, probably at best a shit PWM internship, and no contacts puts themselves at a huge disadvantage to the 3.5+ target kids who may have been to 10+ BB on-campus events and have 10s if not 100s of connections.
yeah, I wouldn't waste your time on BB, but you could shoot for MM ... I am a big fan of allocating resources optimally
Is MM recruiting already wrapping up like BB? And Sil I'm at the point in college where even if I get a 4.0 it won't significantly impact my gpa. The M&A internship was remote and honestly not that great of an experience. I don't think they really give return offers to any interns based on what i gathered from linkedin.
idk. Sil put together a networking guide that would probably be helpful for you
At my MM if all you have is a 3.2... tough luck, especially from a non-target state school. You'll need a DI sport or something of that nature, connections, and / or great prior work experience usually to get past that. MM recruiting is done too at this point.
I first broke into finance with a GPA less than yours and without an MBA. It is absolutely doable. Networking is of course key, which you mentioned, so keep following up on that. It will take a bit of luck, but don't stop meeting new people. It's usually the one that you don't expect to get you a lead that can get you a internship/job. Alumni will always be a bit more invested in you, so reach out to every single one that might have a connection to IB. It only takes one person to vouch for you to get an interview slot. Best of luck.
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