Am I fucked?
Hi all,
Looking for some career advice. Obviously there is so much info out there and I am aware of most of the important stuff that gets you into IB such as networking/coffee chat/ interview behavioral and technical prep and all else that comes with that. I am currently a senior in college at non-target. 3.4 GPA which is not to great but I also work 15 hours a week during school as an operations analyst at asset management company 500bn aum. Not great, but hey it's something. I have two internships, one in risk & controls at the AM firm, and I also did a buy side ER internship at a small shop of 10 people in NYC. Am I pretty much fucked for working in ER/IB/Corp Fin? I was first wondering if anyone had a good way to apply to lesser known IB shops and maybe that would be a better way to break into it. I was also wondering if anyone knew of some good ER places to apply to. (I am really set on working in nyc).
I have a fund accounting position offer and thought about just taking it easy and making a relatively easy 90k but the career ceiling is so low so really would like some specific advice based on my situation. Also I know it doesn't matter what other people do but my friends have had BB return offers locked in and just beginning to get a little stressed that I won't actually be able to break into a decent career path in NYC.
This is my first post so just thought I would reach out for some advice.
Hmm...you're graduating in a few months/there aren't too many open positions at IB firms given the current market..IB might be out of the question, even at random MM/LMM firms. I'd say give it your best shot and see what happens. If you don't get anything, you can always go to b-school in a few years and pivot into IB as an MBA associate. If you want to work at a BB or EB you pretty much need to get into a top 15 MBA program. You need to do well on the GMAT (start studying for that sooner rather than later if you suck at standardized tests, it'll be a huge piece of your application...especially if you're a non-diversity male/went to a non-target undergrad). Whatever happens try not to stress too much and put your best foot forward. Good luck!
Yeah I don't know I just feel like a failure, I don't why I couldn't just commit the time and effort to get in like a lot of my friends did. Frustrating but I will try not to stress too much and like you said only thing I can really do is put my best foot forward.
There are a lot of options outside of IB.
Look into for corporate banking, big4 accounting and consulting graduate roles all these can be used to pivot into IB or a decent MBA later. Secondly, network at your current asset management firm to see if you can secure something more FO, even an internship might help.
Your profile was similar to mine, but you have more relevant experience.During my last year of college I discovered IB and had limited experience in finance in general (mostly summer internships with ux/ui / dev type stuff). I was working retail jobs when I wasn't at school, my gpa wasn't amazing (e.g. 3.4~), and I was so far behind in networking.I knew I had no chance for BB / MM, so I focused on tiny boutiques (sub 10-15 ppl) where I could get networking opportunities immediately with the head guys. I still did network with BB/MM/etc guys and a bunch of them kept me posted about ops down the road which helped immensely.Anyway, eventually I found a shop willing to take a chance on me and hired me on as an intern the summer I graduated and then transitioned me to FT a bit after. I left that place a year or so after and found myself at a MM and am now 2nd yr aso.Keep your head up, stay optimistic and continue to shoot out those emails and messages. Definitely know your material cold and don't sound desperate and I think you could find yourself an opportunity at a boutique.
The market is a little rough, so if you don't land anything this year don't beat yourself up. You can always pivot from another place into IB / ER / etc
Very underrated, I think that saying you will start as an intern even after you have graduated in attempts to earn a FT role shows the firm 1) You're committed 2) You are confident in yourself...and I think this is a really smart way to break into the industry even when lacking experience
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