After 639 applications, I got 1 interview
So having been through this recruitment hell once I was under the impression that it was normal to send so many applications without emphasising the success rate too much. I was thinking that a 1-2% success rate in converting applications into interviews would be ideal. Something is just too wrong. It’s like none of these applications actually reach a human assessor. I’ve done exactly 64 assessments and out of these 37 gave out full results. All of them were perfect results except two. I paid for 2 online coaches to perfect my CV before starting my first application. I want to ask “what is going wrong” here but it seems like “what is going right” is a more appropriate question. The interview I had was very technical with an advanced modelling test. I was invited to a second interview but they went with someone who didn’t require sponsorship.
I was terminated from my FTC job (portfolio valuation, lots of modelling & restructuring in PE) at a development bank in the UK after 8 months of experience; I have target msc in finance from a European uni. My experience is quite good for the jobs I’m applying for, although now I’m a bit unsure if my conviction is good. Aside from the issues with visa sponsorship, what’s wrong?
PS I wanted to apply for the WSO accelerator programme which I hear is good. The thing is I’m already a graduate so idk if it’s good for me (I’m also broke af right now).
Market is terrible, it’s not just you.
But, can’t you apply for HPI visa even if it’s a UK school, that way you can say you don’t require sponsorship.
Market is no longer terrible, so time to retire this.
However labour market is sticky and so lags behind where it should be. The market has picked up but the labour market hasn't 100% caught up yet to meet the market demand.
That’s what we mean when we’re talking about jobs.
M&A has been gradually picking up, but hiring hasn’t been following. Don’t give me econ 101 lecture just cause you’ve been making more slide decks on fantasy deals.
“Market is no longer terrible” is complete bullshit. This person has no idea what they’re talking about hence the MS.
Have you networked with anyone at all? I know it's more a thing in the US but if you can get even just one person to swing for you it goes a long way in making progress in application processes.
I did and still do of course. I had this interview through a recruiter I chatted with on LinkedIn. I also had a referral at a LMM infra IB through a guy I emailed 2 months ago but unfortunately didn’t get a reply. I send many emails even if networking is not very popular in the UK. Nothing to lose there so why not try
You're applying for FT positions in IB/PE (I'm assuming) with 8-months experience at a development bank. No wonder you aren't getting any traction, no matter how relevant your experience is on paper. Market has been tough these past couple of cycles, leading to a candidate-saturated environment that won't ease until 2026 the earliest. Your competition includes analysts from other banks lateraling, MSc students with directly relevant experience (e.g., 1-2 yrs FT IB) heading straight to FT, as well as SA kids that failed to convert due to market conditions looking for FT positions.
My question is, was your former position the only opportunity you could secure from your target masters? Would you mind sharing the program you attended?
The IB/PE applications I’ve sent are only 5% of total applications. I’m not focused on IB or PE, i understand that my chances are super slim there. I mostly apply for things that align with my experience. So things like valuation, modelling, risk, advisory, etc.
I did have another offer at a small consulting firm but decided to choose this bank.
What was your experience going into your masters? Is there anything else you can use to pad your CV? If nothing else lands, I'd second the advice above to network with anybody who's willing to get on the phone with you, and target smaller boutique shops. Big 4 is another option.
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