Fulltime IB
I go to a semi-target for IB, think Umich (non Ross) / Boston College / Williams / UVA / NYU (non stern). I have a 3.7 GPA in a liberal arts major, but I do have relevant internships, one at a micro boutique IB and a LMM IB.
To put it simply, I missed out on summer IB recruiting last year to focus on a business of mine and will be graduating in a month. Given this current market environment, is anything in IB possible? I'm not too plugged in, but I do know BB/EB/UMM are out of the picture and many banks have hiring freezes. I imagine things could be even worse at MM/Regional boutiques. What would you guys do in my shoes? If not IB, what else?
Based on the most helpful WSO content, it seems like you're in a bit of a pickle, but don't worry, all is not lost. You're right that the current market environment is challenging, and many banks have put a freeze on hiring. However, that doesn't mean opportunities are completely non-existent.
Firstly, your 3.7 GPA and relevant internships are definitely a plus. While you may have missed out on summer IB recruiting, your experience and academic performance still make you a strong candidate.
In terms of what to do next, here are a few suggestions:
Networking: This is always a good idea, regardless of the market environment. Reach out to alumni from your school who are working in the industry, attend virtual networking events, and make use of LinkedIn to connect with professionals in the field.
Look at smaller firms: While BB/EB/UMM might be out of the picture, smaller boutiques might still be hiring. These firms often operate on leaner teams and might have a need for new hires.
Consider related fields: If IB doesn't work out, there are other fields that value the same skill set. Roles in corporate finance, financial planning and analysis, or even consulting could be a good fit.
Further education: If you're open to it, pursuing a Master's degree could help you ride out the current market downturn and give you another shot at recruiting when the market improves.
Remember, the path to IB isn't always a straight line. Many successful bankers have taken a more circuitous route to get where they are today. Keep your chin up and keep pushing forward!
Sources: On the off chance Investment Banking doesn't work out for me, You want a summer analyst offer? Here's how..., is the gpa cut off still 3.5?, https://www.wallstreetoasis.com/forum/investment-banking/low-gpa-but-have-experience-in-the-field-what-do-i-do?customgpt=1
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