Out of Options
Been going through the FT recruiting cycle with nothing. Gotten as far as to 2 superdays with no offer. I’m a senior graduating in May with a SA return offer that I can’t take because of immigration issues, and the firms that actually don’t care about them won’t hire me. All this while going to a target school. I know that I’m not supposed to compare myself but I see the children of immigrants making it into EBs and BBs from no-name schools, and I just feel like such a loser. I think I’m really at a dead end, and in a dark place physically and mentally. I’ve probably applied to over a 1000 jobs at this point, leveraged all my connections to having an MD even pulling for me with no luck. Firms always lead me on until rounds and rounds of interviews just to hit me in the face with the same rejection at the end. While all my friends are enjoying their spring break/final semester, I spend my days locked up in my room applying to jobs without a light at the end of the tunnel. I’m not seeking comfort or validation, I’m just trying to REALLY figure out what I can or should do and the steps that I can take because honestly I just don’t feel like I can’t take it anymore.
Navigating the full-time (FT) recruiting cycle, especially from a target school and facing unique challenges like immigration issues, can indeed be incredibly stressful and disheartening. It's important to remember that the recruiting process can be highly unpredictable and doesn't always reflect your abilities or potential. Based on the most helpful WSO content, here are some actionable steps and considerations that might help you pivot or enhance your strategy:
Reflect on Feedback: If you've made it to superdays, you're doing a lot right. Request feedback from your interviews to identify any areas for improvement. Sometimes, it's the smallest tweaks in your interview technique or story that can make a big difference.
Expand Your Horizon: While EBs and BBs are highly sought after, consider expanding your search to include middle-market firms, boutique banks, or even roles in related fields like corporate finance, consulting, or asset management. These experiences can be incredibly valuable and may offer a more accessible entry point into the industry.
Leverage Alumni Network: Continue to leverage your school's alumni network, not just for job opportunities but for advice and mentorship. Sometimes, a fresh perspective or new strategy can emerge from these conversations.
Consider Off-Cycle Recruiting: As highlighted in the WSO threads, off-cycle recruiting can be a less competitive path into investment banking. Firms often have needs throughout the year, and being open to these opportunities can increase your chances.
Skill Enhancement: Use this time to further enhance your skills. Whether it's financial modeling, industry knowledge, or even soft skills like communication, showing continuous improvement can be a strong selling point.
Mental Health and Well-being: It's crucial to take care of your mental and physical health during this stressful period. Engaging in activities outside of job hunting, connecting with friends and family, or seeking professional support can provide much-needed relief and perspective.
Persistence and Resilience: The stories of individuals overcoming numerous rejections before finally securing an offer are not uncommon in the finance industry. Your persistence and resilience in the face of adversity will be your greatest assets.
Remember, your current situation does not define your worth or dictate your future success. Many have been in your shoes and have found their path through persistence, flexibility, and by sometimes taking the road less traveled. Keep pushing forward, and don't hesitate to seek support from your network, mentors, or professionals.
Sources: Fashionably Late: 6 Steps for Off-Cycle Recruiting, Would appreciate some advice, A Guide on How to Navigate On-Cycle PE Recruiting, The Ups and Downs of Recruiting, How to Navigate FT Recruiting: Learn from My Successes/Failures
You sound like one of the very few people who would benefit from a 1-year masters in finance degree. Ask your SA firm if you can do another summer (if not, find something like that) and then hit the pavement for FT25.
Alternatively if you don't want to keep doing this, find a corp finance job and you can decide in ~2 years if you want to try MBA for IB or continue down that path. Or try to recruit back home or somewhere with less stringent visas (if you are at a target, you may qualify for the UK High Potential Visa, for example; and their skilled worker visa changes are around 99% versus ~20% for H1B in US. Could do the 1-year program at LSE if seriously interested in the UK to get your foot in the door)
Immigration issues are always going to be a problem, they're incredibly expensive, lots of paperwork and all for very low odds to get to stay long term. Even the firms that are willing to sponsor will usually take a citizen if you guys are otherwise equal.
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