Hello guys,
Hope this doesn't come off as a stupid question, it seems so generic but I didn't find any answers. Would love it if anyone can help.
I'm about to enter a 12-month M.Fin program at MIT Sloan as an international student. It's looks like a good program and a good stepping stone into the USA for a guy from a small country.
However, I don't have much relevant experience. I've worked as a business journalist for the past years (summers alongside school) and I'm now doing research for a Private Equity fund in my very small country, which has helped me learn a great bit for sure. I'd say that it's a sort of an internship. However, I doubt it will count for much in the States.
Although I'm older than most people starting their finance path (27), I'm more than happy to start at the bottom and work my way up just like everyone else. However, even though I'm graduating from a pretty cool program, I'm not sure if I have a realistic chance of being hired straight away by a BB without even relevant internship experience.
I think I'd have a much better chance of nailing an internship.. but seeing that this is only a 12-month program, it's not like I can just be a summer analyst and go back to school and then return later. Therefore, I have two questions.
1) Is it ever possible for a SA at a BB to get a return offer to simply become an analyst right away in the fall? That is, just continue working there without a break to go back to school or whatever. 2) Graduating from the MIT MFin program, would I have a realistic chance to get an analyst position without going through a relevant summer internship?
Of course I'm confident that I'd be able to do a good job if I ever got it, but I acknowledge the fact that it would be strongly preferred that I had something to show for it. That's why I'm wondering about these questions.
If it helps, a little background: B.sc. degree in Economics from a very small country, summa cum laude. The university is not highly ranked internationally but not terribly ranked either. Worked as a business journalist: interviewed some very high level executives and CEOs, done a lot of data analysis Doing research for a PE fund, have had access to all their data, including a bunch of analyses, presentations, and some really cool stuff. Pretty sure I have the qualities to be an analyst, based on what I know, although it would be arrogant to say that I'm certain, as I haven't tried it. Should be able to do well at a technical and behavioral interview if well prepared. Obviously going to learn a lot in the coming months, hopefully.
In regards to 1), it wasn't an immediate start, but after completing a summer internship, I saw some join in February, when new graduates joined the analyst class.
Note, this was at a BB in London. But I'd like to think most places don't make you wait a year to join. I'd like to think they do cater to your availablity and you earliest start date. But that's just my experience.
Thanks a lot. As a terrible way of saying thank you, I accidentally gave you a MS instead of an SB and can't undo it! Please comment again so I can at least make amends. Also feel free to throw me an MS!
Haha, it doesn't bother me at all. Funnily enough, you've also taken the crown of being the first ever person to throw MS at me! (I'm relatively new to WSO) It had to happen one day. Not to worry, I can genuinely find the funny side of it. :)
I would love to bump this one. At my program now and already feeling from career advisors that internships might be tough/impossible.
Should I try for internships even though I'm finishing this master next spring? Should I go all in and apply for full-time even without relevant experience? Should I target boutiques since BBs might just be out of my reach?
Like I said above, I'm more than willing to go through training and be an intern, it just sounds awful that I wouldn't get the chance just because I'll be graduating. I'm still ready to prove myself. I'm also ready to go all-in full time, I'm studying modeling at Wall Street Prep, taking amazing classes at MIT, cross registering at Harvard Business School... i have 3 years work permission.. not sure what more I can do to prove myself. I'll end up more bitter than mynameisgoldstein if this doesn't work out!
Edit: I'd like to add that I don't feel entitled to anything. There are hundreds of smart people with way better undergrad gunning for these positions. I'd just love to be at least able to explain my case and convince future employers that I'd might be worth giving a shot despite an untraditional background.
You are going to be fine coming from what is essentially a top MFin. Your advisors are probably trying to suggest you don't target internships. I would be applying for full-time right now in addition to applying for internships. Don't graduate from an MFin to be stuck as an intern hoping for a return offer when you can try to secure one before graduating. Your job search will become more complicated if you wait to apply for full-time offers and end up not getting any in the 11th hour.
I wouldn't say BB's are out of your reach unless you are trying to come in as an associate or an experienced hire in which case some groups might prefer someone without the extra degree. Ideally you should be looking for quant heavy groups and setup as many meetings as you can right now. I'm surprised you haven't gotten a summer analyst position with these stats already. Are you even applying or just waiting?
Hey thanks for the response. I've been preparing applications, finalizing my resume and I have applied at a few places (safe the big ones). Of course I'd prefer a full-time job but I understand that the vast majority is hired from internships. A good thing would be to do an internship and then start full-time right away but I know that's tough.
The main problem is the fact that I'm graduating. But I guess I'll just continue applying and if I get interview offers, I can perhaps explain my situation and say that I'm also more than willing to start full-time right away. I might apply for a few FT positions too, especially at MMs and boutiques. I just wanted to know if I'm completely screwed. There is a chance to do the program in 18 months (but it's most likely too late for me to change now), which might make the banks more likely to take me on as an intern.
I guess I'm just really worried that: a) They don't want me as an intern because I'm graduating b) They don't want me full time because I haven't had internships
is it double-degree program with some top European school?
No, I did graduate in 2016 and then went on to do this master separately. And yeah, my undergraduate is definitely not a top European school.
I know people who've stayed on after the internship. It would depend on the group's staffing needs though.
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