No BB Return Offer - Struggling to recruit elsewhere
I recently completed a summer internship at a top BB in London. Despite being given positive feedback throughout (and even being told I was top 5 a couple weeks before the end of the internship), they didn't give me a return offer with little to no explanation other than unexpected hiring constraints.
I am now applying for next summer, both graduate programmes and second summer internships, but so far I have only received rejections despite having an impressive name on my CV. This time last year I had received an interview invitation and I am now really stressed being in my final year and not being able to find employment, I have even been rejected by banks I have never heard of. I am now applying to random jobs I don't even want to do because I am stressed about the prospect of unemployment.
I am feeling really disheartened about this, and would like to know if anybody has advice for alternative paths to investment banking? I have already applied to accounting firms but would really appreciate any insight on other options I have.
London FT recruiting is cooked this year for sure
But what else am I supposed to do if I can't get a job at any banks 😭
Sorry about that. It happened to me in 2023 & I still remain unemployed (hopefully my 2025 recruiting isn't unfortunate too)
same to me
Same for me. Was at a top BB for a summer, so close to being able to start my career at one of the best places possible after graduation. Now I am FT at a MM boutique feeling miserable
Relax
Being outside BB means next to nothing (PE often means less money)—at least you have a job & a salary that isn't inferior
Likewise.
Are you applying for just IBD?
IB, Corporate Banking, Accounting, Consulting, PE, Corporate Finance, Asset Management, Wealth Managament, Ratings agencies...
How is everything going now?
Same. Despite positive feedback, I did not receive a return offer, and now I am close to 200 applications with networking. I don't know what to do. I am a senior considering applying for summer internships, but they are also closed. I am in NYC btw.
IB deal flow is still pretty slow, which could probably be why. It's worse in London because England isn't in the best spot financially RN. I know it sucks, as you feel you've done everything right and the dice just aren't rolling in your favor.
Keep at the banking. As for alternative paths, do NOT do accounting. That is a soul sucking path for ASU students with a 2.4 GPA and more STDs than the CDC currently knows of. Look for corporate finance. Tech companies are starting to hire again, and they do pay quite well. With a BB name, you could probably get a job in a big tech firm or something and work 40 hours a week for 6 figures, which isn't bad at all. Maybe you could also take some time to learn a different skill that could introduce you to a different path or something. Employers are always impressed by my CS minor, and it gives a decent talking point. Maybe learn some coding or something. Consulting could also be a path that isn't blocked off, as MBB and Big 4 are still dishing out offers.
There's tons of other paths out there for you, and we don't all travel on the linear path of IB->PE->HBS. Hell, most of us don't. Find something that makes you want to work, and be open to seeing where the wind blows you. Not everything is about banking, and most people wanting to do banking only want to do it for the other opportunities it provides.
Thank you, but TBH there are very few tech corporate finance jobs in London for graduates - I have been looking but have found none, and also in London corporate finance jobs definitely do not pay 6 figures at a junior level. The only internal corporate finance roles I have found pay around 35k
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