Extend Graduation by Few Months for Another Shot at IB Summer?
Hello,
I am a student at a semi/non target Canadian University. Just finished 3rd year and doing an equity research internship at a big bank.
I was trying to recruit for summer 2023 IB internships, set to graduate May 2024. Unfortunately, the accelerated recruiting + a few missteps by me meant that I could not obtain an IB internship for next summer.
All of my technicals and knowledge is solid for IB, unfortunately during a few superdays I just lost my nerves/gave a few wrong answers and therefore did not land an internship.
I am super confident with another recruiting cycle I am going to be able to land a big 6 summer internship. As a result, I was considering extending my graduation by 4 months and graduating December 2024 instead.
This way, I will be able to recruit for IB Summer 2024 (or if that fails, winter 2024 or fall 2024) and have another shot at IB while only adding a few months to my university career.
In the meantime, I am trying to land one of the independent bank IB gigs or pension fund PE, so I have a strong resume going into the plan I mentioned above or full time recruitment (maybe even stay in pension fund PE full time).
I was wondering if anyone could give me any perspectives on this move/what some potential drawbacks to this could be that I haven't considered.
Any help appreciated!
Hey role109, I swear if I had a silver banana for every lonely thread I posted too I'd be richer than @compbanker ...
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You're welcome.
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I graduated early from a 5 year program and got interrogated pretty much every interview about why i didn’t graduate in 4 years. I’d say graduate on time and get the best role you can get out of school and try to lateral into IB. From my experience, the lateral process was exponentially easier than first year analyst or intern recruiting.
Interesting story, what type of work were you doing on your first job out of college? And how long did you stay there before lateraling to IB and at which bank?
Also when it comes to lateraling did you had to put more time into networking than you did when recruiting for SA IB roles?
A couple things I would advise, considering I just went through recruiting and started to think about Plan Bs and Cs. You mentioned some off-cycle internships, and I would start with checking back in with interviewers/contacts at all the places you interviewed at asking if they have openings for the fall or spring off-cycle positions. I got far in the process with an American bank in Canada and I didn't get the job, but he specifically said if you want to do something off-cycle, let me know. A top Big 5 said something similar. Definitely, ways to do it that way, and from there, your foot is in the door.
The second thing I would say is to start applying for Summer 2024 internships, and say you'll graduate in December 2024. The catch is, that you don't even have to do an extra semester. They are recruiting a year early, so if plans change they can't fault you for that. You could always "get some more credits done" and all of a sudden be a recent graduate at your internship. Discuss with your higher-ups halfway through the summer, and explain, and if you get a return I'm sure they'd have you back sooner.
Some food for thought. And I know some places have already started getting ready for Summer 2024 stuff as well which is insane, but start reaching out now. Good luck
Hey, thanks a lot for the response.The two places I superdayed at did ask me to apply for off cycle but unfortunately that is not an option for me for multiple reasons.
But that second idea you mentioned seems like the perfect idea for my situation! I will definitely look into it, thanks !
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