So I come from a non-target liberal arts, but have a relatively strong GPA (above 3.5) and secured an internship this summer at a boutique, of only about 20 people but who engage in large deals and a handful of multibillion dollar deals. They do not hire out of undergrad and I knew that going in, but thought that the exposure to large deals and the more hands on position I would have given the size of the firm might make it a good internship. Unfortunately despite insane networking efforts I couldn't get any interviews anywhere. Having had constant contact with the head of IB recruiting for the US at a handful of banks and multiple partners and MDs at each of the other places I applied, i was pretty bummed to find I still can't get a foot in the door. Despite this, I have maintained al of these contacts keeping in touch on a weekly or biweekly basis in the event that a position does open up. So my question is now that all positions are filled, how often is it that an analyst quits from their team? Just so I can understand if my continued efforts might be fruitful in the end. Thanks again for any and all responses.
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Analysts and associates transition out of banking with some degree of regularity. Analysts move to B School, the buy side, other shops, startups, clients or other finance roles, associates do the same sans B School. Tenure is generally short most analysts are gone in 2-3 years and my most I mean a majority, maybe a third or perhaps a little more stay on to become associates. Quitting in the sense of walking out the door with nothing lined up is uncommon.
I certainly understand that there is a lot of attrition given the stressful hours and work, and also the offers to go elsewhere pulling the talent away from these IB positions. What I mean is given my current situation, do you believe I still have a chance at some of these places given the high attrition of analysts, or is the attrition not high enough where they will still be looking to fill a first year analyst position in the next few months to six months.
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