For context, my grades are above average at an upper tier New York university (think Columbia / NYU / Niagara University). I joined my school’s investment club and helped run a DCF. I’ve listened to some of the top minds in the industry, and I even went to a networking event last semester.
I’ve been recruiting super hard for banking, and last month I thought it paid off. I looked up someone from UBS and followed him around NYC for an hour. Eventually I stopped him on the street and asked for a referral. He encouraged me to apply and even replied to my follow up InMail with “all the best dude”.
I thought I was in. I was under the impression I would be fast tracked through the process. But last night I got the dreaded automated rejection email. No feedback, no follow up, nothing.
How could a bank like UBS ignore my carefully crafted application? Well, a quick Google search told me all I needed to know. They’re a fledgling, legacy institution. Marco and his Swedish overseers are too busy not being good bankers to hire quality talent.
Now that I see UBS has nowhere to go but down, I’m actually GLAD I didn’t get an offer. I’d rather work in accounting or some other trashy job than at a firm that gets roasted daily on WSO.
I start at the local Tim Hortons next week. PM me if you know how to speak Canadian.
Based on the most insightful WSO threads, it's clear that rejection is a tough pill to swallow, especially when you've put in the effort to network and craft a strong application. However, it's important to keep perspective and focus on actionable next steps rather than dwelling on the rejection.
Here’s what you can do moving forward:
Reassess Your Strategy: While your networking efforts were bold, following someone around NYC might not have been the most effective approach. Networking is about building genuine relationships over time, not just securing a referral. Consider reaching out to alumni or professionals in a more structured way, such as informational interviews or attending industry events.
Expand Your Options: UBS is just one bank. There are plenty of other firms—bulge brackets, elite boutiques, and middle-market banks—that could be a great fit. Don’t limit yourself to one institution or tier.
Leverage Your Investment Club: Your experience running a DCF and being part of an investment club is valuable. Highlight this on your resume and in interviews, but also use the club’s network to connect with professionals in the industry.
Consider Alternative Paths: If IB doesn’t work out immediately, roles in Big Four Transaction Services, valuation, or boutique banks can provide a strong platform to break into banking later. Many professionals have successfully pivoted into IB from these roles.
Stay Resilient: Rejection is part of the process, and even top candidates face setbacks. Use this experience as motivation to refine your approach and keep pushing forward.
Lastly, while it’s easy to vent frustration, avoid burning bridges or speaking negatively about firms publicly. The finance world is small, and maintaining professionalism is key. Keep your head up—this is just one step in a long journey!
Sources: Where do the IBD Rejects go?, Q&A: About to graduate from HBS - Ask Me Anything, The Allure of Investment Banking, My business just blew up and I cant find work., Be wary of greener grass; there are always tradeoffs...
lol
This is probably a troll, but I also tried my hand in UBS recruiting back before it got cooked and I’m happy I didn’t get in based off what’s been going on lately. Obviously it’s still better than a lot of shops but still shouldn’t be your first choice these days
I hate to be that guy but you sound a bit entitled from this post. You just need to realize there are always people better connected, smarter, and working harder than you. Getting rejected sucks and it’s happened to everyone, just keep grinding and something will stick. Remember you are not owed anything just because you have good grades and go to a good school. You got this man just keep at it and use this as motivation to work harder and smarter.
Epstein didn’t kill himself
making ice caps at tims is better than taking it up the ass
Niagara University lost its target status recently so don't fret too much.
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