No SA offer yet - Plan B options????
Hi everyone,
I am a junior and I have done internship in ER last summer. I cannot land a BB IBD SA gig, and now I am considering between boutique investment banks and tier 2 / 3 consulting firms. I am still undecided between IBD and consulting for now. Can anyone advice me which one should I do this summer (in terms of flexibility - eg: is it easier to go FT IBD after consulting SA or vice versa)? Any advice will be appreciated!
Same boat with you! Interested to know more about this as well.
If you want any chance come FT recruiting, do not do consulting your junior summer. After doing ER, and with no IB internship, that will raise more questions in interviews and create more obstacles to breaking in. You need to demonstrate an interest in banking--get any tier IB internship you can
I see; thank you for pointing out the problem that may arise in the interview! So even a no-name boutique would still be better than Deloitte consulting internship (in financial services)?
Call up boutiques. The BB, EB, and top MM ships have sailed. I would spend a few hours putting together a list of boutiques in cities and then just pick up the phone.
Huge +1
If you do anything other than IB this summer, your FT chances will be all but zero.
Thanks @iggs99988" and Sil ! +1 for the clarification. Will definitely start compiling the list and start networking ASAP!
Summer Analysts - What's Your Backup Plan? (Originally Posted: 12/29/2010)
so we're all applying for different jobs throughout wall street. where are you applying to as a backup? as your 'sure thing' in case you dont get one of the jobs that you really wanted?
4-6 weeks at a Fund of Funds followed by 4-6 weeks at smaller hedge fund, all unpaid. My school does unpaid internship funding though so I'm hoping to get that.
FT or SA? I have multiple SA offers and a whole ring of contacts through the BB firms even after I declared my choice. Were something not to work out with my two-summer offer right now I doubt I'd have trouble getting interviews at the very least elsewhere.
....
You realize almost every post of yours has been about your multiple offers, right?
It's December and you already have two summer analyst offers?
Why do I have a hard time believing this?
. . . . sorry, writing while watching Hulu. Didn't realize how absolutely arrogant that came across after I wrote it so disjointedly. Apologies. I'd edit it if I could.
Your backup should be anything unpaid that is relevant to your career ambitions. Your resume will not indicate if it was unpaid vs paid, 80 hrs a week vs 20, formal program vs off cycle hire.
Also good options: classes to raise the GPA, volunteer, study abroad.
Basically do something that will improve your resume.
If I didn't get offers anywhere, I would do some combination of... -Study abroad in Cambridge -Do either the UChicago or Dartmouth Summer Business Program (both?) -Take a bunch of easy classes all summer to boost GPA while studying for the GMAT -Do research with either a Finance or Game Theory professor
BAML and Deutsche Bank are my back ups.
Well don't you suck.
Cold-calling boutiques to no end
would you ever consider something in operations?
this is a great question the only thing with applying to BO jobs at BBs is that some places have limits on how many positions you can apply for so you wouldn't be able to apply for your FO dream jobs and BO backups. I'm considering boutiques, unpaid internships, hustling for money on the streets...
Pos Ad Esse check your PMs
Is anyone applying to consulting jobs as a backup for the summer?
haha that's a good idea actually
general finance internships and consulting
Accelerated process (studying abroad in the spring). And I wasn't referring to the number of offers, rather that it was an offer for the next two summers, I'm only a sophomore.
maybe some research?
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