Recent College Graduate - No FT Offer - Need Honest Advice

I’ve been wrestling with whether or not to post this, but I know WSO is one of the few places where people will really understand the weight of what I’m dealing with.

I just graduated from a non-target with a degree in Economics and Math. It's not a bad school by any means (probably top 5-10 in New York), but it's definitely not on the level of a NYU or Cornell. I didn’t land a junior summer internship through the traditional on-cycle route - mostly because I had no idea what I wanted to do at the time. In all honesty, I didn’t even know what IB really was until I saw some of my friends grinding for offers and landing spots.

Once I realized that IB was the path I wanted to pursue, I went all-in. I probably sent 300-400 cold emails to smaller MM banks I thought might actually respond. I knew BB/EB were already locked up, so I focused on where I felt there was a real shot. After a ton of outreach and conversations, I eventually landed something at a very small shop in NYC. I can say now looking back, I’m genuinely proud of that. A few people at my school who also missed on-cycle have since asked how I pulled it off, and after I explained everything I did, they told me it was extremely impressive — especially considering how many others tried the same approach and got nowhere.

The deals were sub $50M. It wasn’t glamorous, but it was real experience - and to my surprise, I actually enjoyed it. I’m not sure if that’s because I genuinely liked the work or because I was just so locked in on the idea of building a career post-grad, but either way, I felt like I was finally heading in the right direction.

It was a very small team, under 10 people - and I was the only intern in the office. The analysts I worked under were awesome, even the VP & MDs were really great to me. There was no official return offer because of how small the office was, but I got great feedback. They set me up with an interview at one of their other offices in a different city. I was hyped - felt like maybe this was the next step. Unfortunately, the interview didn’t go well. The questions were completely industry-specific and totally different from the work I’d been doing in NYC. Long story short, I didn’t get the offer. It sucked, but I tried to stay positive - at least I now had real experience and something meaningful to put on my resume. 

That was back in early 2025. It’s now late July... and I still don’t have anything.

Since then, I’ve gone all-out with the cold outreach again. I’ve easily sent out hundreds of emails, taken 150+ calls since February, and tried to connect with literally anyone and everyone in banking who would talk to me. I’m burnt out. The calls I go on are starting to feel repetitive, I hear the same thing over and over... "you're doing all the right things, keep at this and eventually something will fall into your hands"

I have found LinkedIn to be the best place to find smaller shops. Every job I apply to, I will either go on the company website to find members of the team or LinkedIn - I will always send an email introducing myself, telling them I just applied for job XYZ... and would love an opportunity to speak with them. Every call goes the same exact way.

I’ve stopped even bothering with BB/EBs - not because I don’t want it, but because I know I’m not a 4.0 from Wharton or Harvard, and I feel like I’d be wasting my time. So I’ve kept my focus on smaller MM firms and boutique shops where I felt like I might be a fit. Still.... no bites.

One last thing - almost every “Investment Banking Analyst” posting I see asks for 1-2 years of relevant experience in IB, corp fin, or similar. And of course, I don’t have that - I graduated 3 months ago

My biggest fear now is… am I too late? I still want this. I still believe I can contribute. I know I’m coachable, hardworking, and that I’ve gotten better every step of the way. I just need someone to take a chance.

I’m not writing this to vent or fish for sympathy. I’m writing because I’m stuck - and I want to hear from people who’ve been here, gotten through it, or can offer real, no-BS advice. I’m still all in on banking or a closely related finance role, but I know time is working against me. I’m doing everything I can, but it’s hard to know if I’m doing the right things.