Posting out of Spite. Currently at a Semi-Target, w a somewhat name on wall street. GPA of 3.4. Is it over for me or can I attain at a MM or LMM bank and lateral at best? Have a few connections I think would be willing to give referrals at BBs, but no guarantees. Honestly y'all can cook me, but am fully open to advice
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It's not over for you at all! Based on the most helpful WSO content, here’s a roadmap to help you maximize your chances:
1. Targeting MM/LMM Banks
2. Leveraging Your GPA
3. Referrals at BBs
4. Resume and Application Strategy
5. Lateral Opportunities
6. Persistence and Luck
Final Thoughts
Your situation is far from hopeless. Many professionals have successfully transitioned from semi-target schools and MM/LMM banks to top-tier firms. Focus on networking, refining your resume, and staying persistent. You’ve got this!
Sources: Q&A: Semi-Target/3.5GPA -> Mid-Tier BB IB SA (Advice/Ask Me Anything), Some Observations from an MD, https://www.wallstreetoasis.com/forum/private-equity/thank-you-wso-community-qamy-story-target-state-school-non-mba-masters-mm-ib?customgpt=1, Q&A: PE Senior Associate from Post-MBA Banking Role, https://www.wallstreetoasis.com/forum/private-equity/then-and-now-compbanker?customgpt=1
You can probably pull it off with heavy grind from what I’ve seen on here
Thank you, anything specific?
Do you have internship experience? There is a plethora of regional / not-well-known boutiques. Nothing wrong with starting there and lateralling after. It's probably the easiest path to take.
Thanks for your comment, Yes, I have experiences at two search funds and in Equity Research. Any firms that you think would be best to start and then lateral from?
[I'm assuming you're a senior in undergrad?]
Was the equity research internship your junior summer analyst role? Did you get a return offer? If yes to both, then I think you should be fine, other than the fact you're a bit late to the cycle. At this point, most of the reputable banks are likely done recruiting. My boutique is one of the later firms to recruit and we wrapped up superdays 2 weeks ago, so you're opportunities may be a bit limited.
If not, you may have a bit more trouble, but never say never...I would consider non-IB finance roles in that case also (e.g., go back to equity research, go to FP&A at a corporate, etc.) and perhaps try to lateral to boutique (then subsequently lateral to MM/BB) or aim for MBA for a second bite at the apple.
With boutiques, look them up on here for any discussions to make sure you're not signing up for a scammy place (e.g., Tobin & Co.)
Most non-EB boutiques are going to be LMM generalist M&A shops or industry-specific boutiques. The former may set you up better for sell-side heavy M&A or sponsors product groups in BB/MM when you lateral, but they can be quite sweaty and very hit-or-miss in terms of quality and experience.
Industry-specific boutiques would set you up better for coverage groups at BB/MM/EB and may even turn out to be a good place to build a career if you really become an expert in that sector (that was my case - not a well-known TMT boutique, but I ultimately decided not to lateral nor exit to buyside and have stayed all the way to VP).
That said, just like the prior category, boutiques are always hit-or-miss, so do your due diligence.
Truly appreciate the time that you took to respond with immense detail. Thank you
I went to a semi-target w- a similar GPA (I was a D1 athlete + President of all the investment clubs) so maybe biased / not the best sample but seriously it’s all networking. Have to know yourself / seriously know why you’re interested in banking. LinkedIn is your gatekeeper!
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