Q&A: Non-Target -> Multiple BB/EB Offers
This forum was the sole reason I was able to break in and get multiple offers for 2022 SA. Happy to answer any questions relating recruiting, networking or anything in general.
Background: Semi-Target in West Coast but non-target for NYC. Non-diversity. 3.4 GPA. 2 internships in IB (MM and boutique). Unique startup experience. Networked with 150+ across the street in LA and NYC.
Offers: 2 BB's and 1 EB
Did you have any relative experience before you got your first IB internship? (school clubs, outside resources, etc)
Prior to IB, I had started a software business so I leveraged that experience in interviews/networking calls. That helped me land my first boutique internship during the spring and then I leveraged that to get a summer internship at a MM firm.
It was mostly about networking with the right people to get into these processes.
Are those freshman year banking internships, or sophomore (as in you’re with the mm this summer)?
Are you a top or a bottom?
> Title: Non-target
> Actually: Semi-target
Agree, he sure let all the Non Targets down!
Could you please summarize your networking process?
I started off by looking through linked for people that went to my school in IB at any firm and compiled a spreadsheet of name and notes of them. Then began reaching out to people in early December through - April through email. I also reached out to people that had common interests or were from a similar area, I even looked up high school or surrounding high schools that I knew. Basically any avenue for them to hop on the phone with me and then would then network within the group through referrals.
Staying in touch with people was key, reaching back out to ask to catch up and have a very specific question like interview advice or technical advice etc.
Did you reach out to alumni or non-alumni and what levels were you targeting (VP and up)? How did you make an ask in the initial call for a interview since it is awkward to make an ask from the get go?
I reached out to alumni first and then non-alumni. I was mostly speaking to analysts and associates who would then refer me to their staffer (who is usually the one in charge of recruiting or at least has the most contact with HR/recruiting teams).
You don't ask for an interview, you build a relationship with them to the point where they want to interview you. You reach out and keep in contact with them etc. That was how I was able to get many interviews. I would say that the ask that you make in the initial call is usually "who do you recommend I speak to next?" or something along those lines. That one piece of advice about asking who to speak to next was so important.
Could you speak more on your spring internship? How many hours did you work a week? Was it paid? How was your courseload and overall semester like, were you able to balance classes + extracurriculars?
The spring internship was an unpaid internship for about 15 weeks in the spring. I think I was lucky because it was online and that meant I didn't have to commute to the office and could work whenever I had spare time. I worked anywhere from 10-20 hours a week mainly on administrative tasks but was able to be apart of a sell-side M&A process (although I didn't do anything tbh) but being apart of the process and being able to ask questions and be a sponge was critical in displaying my knowledge for what IB analysts do but also confirm my interest which was key in interviewing.
Overall semester was tough, already taking an additional class and managing recruiting + the internship and other extracurriculars. Eventually, came out with a 4.0 in the spring semester and a couple of offers and taking time to reflect, if you had told me that what I was going to achieve what I was aiming for I would've laughed. Was truly an uphill battle but I put in the work and got it done.
Why investment banking?
Best optionality and allows me to develop a strong skillset in finance and excel/PPT.
Where are you headed?
Don't want to expose myself but signed with one of the top groups (PJT RSSG/EVC M&A/GS TMT)
You have nothing to offer anyone. You are a tourist. Get off your high horse because you have done nothing yet.
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