Flopped out of SA27

Sophomore at semi-target, was in a few processes, had supers and didn't end up converting. Where do I go from here? Is recruiting for this cycle over? Do I switch industries? I thought IB was the path for me but it's not looking that way.

10 Comments
 
Most Helpful

Couple things. 1, Many banks haven't ended. You only need 1. EBs, MMs, and some other boutiques are still out there. Right now, IB classes are smaller and smaller YoY, just as a result of the broader macroeconomic situation. Def try for some smaller banks(Gugg, Cantor, Stifel, Oppenheimer, socgen, HSBC, Jeff, Mizuho, Nomura, truist etc.). 2, There's plenty of opportunities across the board for dedicated students. The question is why IB? Can you get to the same place as you would've gone without it? If you were gunning for PE, could you do consulting or direct analyst roles? If you were aiming for HF, could you land in ER or something similar? What was the end goal, and was IB the only way in? Or was IB the end goal? Try to figure out what it is you want out of life, and plan out exactly how to get there. 

 

Super helpful thanks. I feel like IB was the best chance to get a broader experience as I'm not certain if I would prefer PE or HF. As for Consulting or ER, I have no clue how those processes work, so if you have any resources for that I'd love to look into them

 

It might help with "broader experience" but there's plenty of things that can do that tbh. I would try to figure out what it is you generally want to do first. I can't give too much advice on consulting or ER, only trading as I never did those, but there's plenty of other forums on this site for that with solid resources and advice

 

similar situation here, but secured a niche credit shop (3B aum) for 2026 summer beforehand, and they do return offers

how pigeonholed would i get started my career at an alts shop like this? from the standpoint of credit -> larger credit like king street for ex, and just in general?

 

Summer internships are probably the least likely to pigeonhole you out of everything. I've seen people do tech internships and internships across the board and end up in completely different places once they graduate. 

That said, if you are going to be pigeonholed, credit is not a bad place to be at. Credit isn't as exciting as equities, but it's a more stable, larger industry. I'd say don't count credit out, it's a great place to be. 

 

If circumstances allow, you can reclass (i.e., delay graduation a semester) and recruit for SA 2028. Had a cousin do that and he’s at GS this summer.

 

There is 2 realistic and good options for you. 

  1. Delay graduation on purpose by on semester and use that extra 2028 summer. I did this myself and landed an SA role.
  2. MM banks recruit all the way into the fall prior to the internship. Meaning a blair or piper sandler will have summer 2026 applications open in late fall early winter of 2025. They only up for a couple days and it is easy to miss them, but on paper you have the highest odds of getting those roles as it is much less broadcasted then normal recruiting.

It isn't fully over. You can get a smaller internship this summer, rerecruit for summer 2028 and land a good internship. Even if you dont, plenty of shops recruit all the way until 6 months before the summer. If you want it bad enough and you are diligent enough (check linkedin every night for 5-10 mins and view postings), you will land something I promise you.

 

Tempore quae sunt veritatis vitae earum. Ut voluptatem alias et hic. Rerum reiciendis dolore delectus. Ipsum dolores atque unde similique ratione voluptas autem ad.

Esse voluptatibus itaque hic autem incidunt iure similique. Modi voluptas corporis sint dolorem. Nam ducimus deserunt dicta eos nemo. Reiciendis et quidem et quia. Eligendi corporis ut cumque quam aliquam nam aut omnis.

Accusantium nobis unde reiciendis et ut. Amet ab corporis sit quas. Facilis consequuntur omnis animi quisquam nam labore.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 02 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.7%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • Morgan Stanley 05 98.3%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (44) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (78) $151
  • Intern/Summer Analyst (72) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”