Career advice after not securing full-time offer
Hey all!
I would appreciate some help and advice for my situation to break into IB. I'm a MSc engineering graduate from a European university, which is a top of my country but not a household name like LSE, HEC, etc.
I have a lot of internship experience from consulting, local PE & VC, and finally, I did an off-cycle and summer internship in London, both in the very top, large bulge bracket IBs in sector teams. The bad news is that I didn't get a return offer from either. With the off-cycle, it was unlikely to get an offer anyway, and in the summer I performed well but got extra unlucky with the team and headcount issues. If I had been in another team, I have no doubt I would be in, honestly.
Right now I'm graduated and have been applying for full-time roles in IB, preferably in London, but as you may know, it's a tough job - a small number of spots and it feels hard to shine without a study background in finance, now that the level of difficulty in interviews is significantly higher too.
What would you do in my situation? In the UK, I cannot apply for most of the internships anymore as I've graduated, but not many banks even recruit full-time grads. I have been considering doing another master's in one of the top universities in London/Paris, this time in finance - to be able to apply for an internship again perhaps? But to be honest, I'm about to be quite lost with what to do, as it starts to seem quite tough to get in through full-time recruiting. Thank you for any advice or tips!
Based on the most helpful WSO content, here are some actionable steps and advice for your situation:
Leverage Your Network:
Consider a Specialized Master's:
Target Boutique and Middle-Market Firms:
Enhance Your Skill Set:
Tailor Your Applications:
Stay Persistent and Positive:
Seek Professional Advice:
By following these steps, you can enhance your profile and increase your chances of breaking into investment banking despite the challenges. Good luck!
Sources: Advice on career and the switch into investment banking, Guide for Investment Banking Full-Time Recruiting, Overwhelmed here, words of wisdom would help, What would you do if you were me? (Medicine vs Business), ~3 months in. I really want to quit banking. What should I do?
Did you do a bachelors as well (or an integrated masters)? If so, I'm not sure another masters would be the solution. I'd say keep looking around for off-cycles, cold email lots of places, and most importantly keep at it. If money is a short-term need then I would consider taking anything that comes along.
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