Local Boutiques - DEAD
For those focusing on local boutiques and merchant banks, how responsive is the climate for entry positions or even unpaid internships?
I'm staying home after graduation for certain reasons, and I've only called a handful of firms, but in my state - the situation is dire.
The first firm I called, which is somewhat the more prominently known one in my state, the managing director warned me: "I admire your pursuit, but... DONT DO THIS HERE, EVERYTHING'S GONE, NOT A GOOD TIME"
I called another one that same day, and when I asked why they weren't hiring, the partner lamented: "We're actually shutting down soon..."
It seems like unless you're in key locations in the US, most investing firms elsewhere are just lying cold in this economic cycle. Seems like I'll be doing something else than analyst after graduation...
Jesus, what state is this? PM me if you don't want to share in the thread.
Detroit.
IN b4 Brady Hoke, tries to say that Detroit is the greatest city in the world.
Good guess - Hawaii.
What are other sorts of business ventures that would have a similar sort of analysis position of IBs? - besides commercial banking?
I'm probably going to look into real estate development. Hopefully that fares out better.
In my experience (non-target POV)... which has been miserable thus far, I've gotten the same type of treatment that you have had, responses that amount to: 'we don't have time', 'not cost-effective', just hanging up etc.
But I don't think that its all doom and gloom, I managed to secure an unpaid P/E internship with a small shop in a tough area and this was after I went and interviewed with a BB, 1-2 MMs, and a handful of boutique firms for IB SA
It sounds stupid (I didn't believe this after I got all the rejections), but I think if you just keeping churning and spinning your wheels you'll be bound to get something although your geographic limitations may be an issue...
Soooo, banking in Hawaii isn't good? Damn, well there goes my dream of a perfect life. fucking NYC is a zoo.
Maybe a blessing in disguise? I've heard Hawaii is actually a pretty depressing place to live.
Every been to Hawaii? Went to Maui once when I was younger and was stunned by the poverty.
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