Non-target looking for encouragement and tips
Hello all! This is my first post on the forum. I’ve been browsing for a few months to get some tips, but I figured I needed to post.
First off, I know my situation sucks, and it is almost impossible to get anywhere in IB. I’m looking for encouragement and helpful tips instead of “good luck” answers.
I have my bachelor's in marketing with minors in finance and management from a non-target university. No one from my university has broken into IB. Internships, yes, but no full-time offers. It’s more of an entrepreneur school, which I wanted to do until my last year. I got an MBA in Finance from the same university (bad ideas) while working in research for the chair writing academic articles around stock market prediction. I initially wanted to do Corp. finance because of large tech companies around me, but I pivoted my last year in the MBA. I’m enrolled at the University of Utah in their MSF program (T10) to use their network (tons of people broke into IB from their bachelor's program). I’m part of the PE, /VC, finance, and IB clubs. I took WSP modeling course and currently studying for the SIE.
I’ve applied for tons of summer/winter internships and even full-time positions that I qualify for with no luck. Not even an interview. Not even from MM banks in my area. Not even B4. I’ll even work for free just for the experience, haha! I know I’m WAY off of BB or boutique, and that’s not my goal. I'm looking at a small MM or B4. I guess I’m just confused about where to go next. I would love any feedback.
Maybe I missed it in your post, but have you been doing networking? Applying to online portals is a black hole. You need people working at banks to give your resume to the right people. Find people at banks that you share something with (your current MSF school would make sense), chat with them, get them to like/trust you, then have them help put your resume at the top of the list.
Second this
Thanks for the answer! Very helpful!
I’m starting to realize online portals are a black whole. No luck with any of them. I forgot to mention networking… I have networked with a few local banks/alumni, but they didn’t turn into anything. They said I’m better off in a risk position, but their hiring interns have zero experience. Quite strange. I defiantly need to network A LOT more!
Interns coming from a traditional bachelors finance program are pretty in demand, you get a 10 week trial and they're 22 years old, someone out of college who already has an MBA is off of the traditional track/timing. It's like you're in community college applying to Harvard and saying it's weird they're taking high schoolers. There's a path, it's just a lot harder than someone who is on the most common track.
You're taking the right steps with WSP, SIE is not that important to have for interviews but if you can get it done easily enough it shows some interest in finance. But yeah, overall you need to be networking. A lot. Like, 20+ emails a day. If you do a search there's lots of good tips on this forum (no need to pay for anything) but you should be doing 15-20 minute calls.
Finally, not clear if you're already focusing on it but small regional boutiques (like 30 people or under) are usually pretty chill on requirements and some networking might get you a role. MM/B4 have big HR functions and formal school internship programs. You'd be surprised how easily you can move up from even tiny boutiques - MM or BB are not out of the picture after a few years.
Listen here buddy, I’ve been arrested 3 times.
Was a depressed loser with a 2.0 first semester GPA.
Listen to David Goggins audiobook - Can’t hurt me.
This will teach you how to grind.
Start reaching out to as many of your alumni as possible via LinkedIn. Keep it short and sweet. Tell them your name, major, and why you are reaching out.
Do this to at least 4-5 people a day. SET UP CALLS AND GET THEM THE FUCK ON THE PHONE.
Connect with them.
Then ask about their internship programs.
If they like you they WILLLLL forward your resume along to HR.
Time to buckle up and go beast mode buddy. If I can do it, so can you !!!!!!
CHEERS!!!!
Love this! Thank you.
Have you looked at search fund internships during the school year?
I haven’t. I’ve recently applied for a few unpaid investment internships to gain experience, though.
I go to the U as well so we should definitely chat if your lookin into IB. One thing I learned is that you have to network all of Utah not just the U. Byu has an established and pretty consistent pipeline into IB and most are willing to help out and guide. I got my SA ‘22 internship by networking very heavily with higher up guys which will come with time for you. If I can help plz lmk!
Oh, awesome! We totally should link up! I’ve seen a lot of people from BYU break-in. It seems like BYU has a lot more campus recruiting than the U. I’ve considered expanding my networking reach.
Are you saying Uni of Utah is a top 10 master in finance program? If it were you’d be having recruiters on campus trying to get you into IB.
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