Non - Target Hoping For Advice
Hey everyone,
I read a lot of posts on here, but never really thought that I would be making one. This community is really honest and blunt, even when its not the best to hear, and I think I could use some unbiased perspectives. I am currently a sophomore at a non-target school. I moved to the US with my family when I was young, and we don't have many connections in the banking world. I wasn't the best student in high school, but since I have been in college, I have tried pretty hard to turn that around. I have a 4.0 GPA so far, and I am pretty active in clubs around campus. I also work as an analyst at a small search fund, and I had the chance to work on a $8 million acquisition where I did a lot of modeling work.
The reason I am making this post is because lately I've been feeling pretty burnt out. I am definitely no stranger to hard work, but its definitely challenging when you don't see results or improvement. I have applied to a ton of internships via online postings (350+) but I haven't received many interviews. This is disheartening because most of these are for finance intern positions at smaller companies. I'll admit that I haven't been the best at networking so far, but I have sent out enough emails to get on a couple coffee chats with bankers.
I was hoping to get some advice from people that have been in my shoes, what did you guys do to succeed? I am really dedicated and ready to work even harder, but I think its time to stop and evaluate if I am spending my time and effort effectively. At the end of the day I know that breaking in from a non-target isn't going to be easy, and I am ready to put in the work. I would just like to know where to focus my efforts.
Thank you guys in advance for your thoughts and inputs, I am really looking forward to getting some advice!
1. Your high school GPA does not matter. At all. It should not be in your resume, and your bringing it up on here makes me suspect you may be dragging that into things and muddying the waters (maybe I'm wrong).
2. Would be helpful to know more about these job postings. Are they internships? Are they on your school's board? LinkedIn? etc.?
3. What do you want to do? Investment banking (you've mentioned coffee chats)? If so, you're better off cold emailing small boutiques and business brokerages in your geographical area than mass applying to tangentially relevant corporate finance positions at other companies on LinkedIn. By corporate finance, I mean the money function of corporations like Coca-Cola, etc.
4. Have you done the basics for preparing for investment banking interviews (read Rosenbaum & Pearl, Vault guide, Mergers & Inquisitions articles)?
5. How non-target is non-target? I went to a non-target, but there were still 10-20 alumni in really strong seats across finance and IB. I never received any jobs from any of them, but learned a ton and value those relationships to the present day. How many alumni do you have? Do you know who they are? Have you spoken with them?
Thanks for the response!
1. I didn't include my high school GPA, the 4.0 is my cumulative GPA so far in college, sorry about the confusion.
2. They are internships that range from FP&A, to wealth management and corp dev. They arent all from my schools board, but I have applied to several positions that are, and I have reached out to people on my schools Finance Advocacy board.
3. I am really interested in IB. I have been cold emailing smaller boutique IB shops and even wealth management where some alumni from my school work. I haven't really been seeing many responses on that end even after following up 1-2 times. As far as corporate finance, this is probably where I have had the most success. I have a Excel with all the internships I have applied to and my hit rate with these roles is around 3% (keep in mind that I applied to a lot very recently).
4. I have done the Wall Street Prep course, the M&I IB 400, and am reading NCX's Investment Banking guide. I am always looking to learn more so I throw on some finance valuation videos by people like Aswath Damodaran at NYU.
5. Its non a super non-target, we probably send around 10-15 kids to middle level investment banks every year. From what I know we have only sent around 3-4 to EB / BB. I reach out to a lot of alumni and have spoken with a few of them. If I'm being honest, networking isnt the most natural thing for me so it has taken me a while to get better at it. This is something I hope to do more this semester in my free time.
This all sounds like good technique. Keep doing what you're doing. Abound more and more.
I think you will get it.
if your school sends 20+ kids a year, i think you can be one of them. You seem to know what youre doing.
goodluck! Network hard, it sucks applying everyday and doing all that but it will be worth
*The search fund focuses on smaller B2C businesses with a focus on technology manufacturing.
Non-target grad here. Just my take. You're gonna have to do a ton of networking. GPA is just the bare minimum because you're going up against kids with 4.0's from targets who already have some form of experience thanks to their connections. I'd say that's your best bet. I'd also caveat that if you're feeling burnt out at this stage, consider whether IB is for you. On the job you may experience long hours on what you may consider very tedious and mind-numbing all for your team not to land the deal. Check in on that fire inside of yourself that keeps you going and find your edge and I'm sure you'll find your opportunity. Good luck!
Thanks for the advice. I wouldnt say I'm "burnt-out," I am ready to work harder and do whatever I need to, but I guess I'm just unsure what to do next.
Its nice to hear that you're a non-target asw. How did you network successfully, and was it hard to build out your network once you started?
It's a numbers game for sure and I don't think there's any secret sauce. Especially if networking is your weak point, make it your strong point. You'll go through the same channels that most other people go through, but hopefully those you reach out to may find something eye-catching about you enough to respond (same alma mater, club, same hometown, etc.). And sometimes it'll just be a cold e-mail. I got my job through cold e-mailing my boss, and he didn't respond until 2 weeks after I sent a follow-up. Went through the whole process and was fortunate from there. It definitely took a bit of luck and timing which aren't in my control but wouldn't have happened at all if I didn't follow up.
In my opinion, networking skills are similar to interviewing skills. The more you do it, the better you get at it. Lastly, from my personal experience, keep in touch with these people you network with, even if it's just to send them a courtesy status update and ask them about how a few things you spoke to them about are going. I've had a couple awkward moments of reconnecting with people who were in the drivers seat of recruiting for a new team they recently became a part of, and I had not kept in touch with them over the years. You never know where you and others may end up in your careers.
Network, network, network. I would aim to send 5-10 cold emails a day during weekdays. Keep your messages concise. Then it’s about asking good questions and being personable during calls. You’re in a much better position than you think. Keep at it!
Couldn't agree with this more. Get good at chatting with people and networking. Someone pulling for you (even just a little) is what will really open a door.
read my recent post. i was in the same spot as you one year ago. i go to heavy non target (5-10 placement/yr, all at MMs or low BB) and got my 2026 offer. if you can't get an internship, utilize the word "unpaid" in your cold email. that is the easiest thing to do in order to see real change in response rates. good luck
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