Today, I woke up, got another rejection. Thought it was a bad dream, tried waking up but nope, it's real. Another rejection. I was trying to keep up my hopes but I just don't see what I'm doing wrong. In this particular interview, three out of eight interviewers told me I did good (or said they liked me) so I really thought I would FINALLY get my break. I've been praying for the day that I too would be able to make a "got an offer, ty WSO" post, not to mention dreaming about getting an offer. I feel like absolute shit now and I just don't know what to do.
I've had interviews at 11 firms and made it to 5 superdays and been rejected by all of them. That was my last superday/interview as well so now I'm done. It's so frustrating, I've done so much prepping/interviewing/networking and it's all for nothing. I've seriously busted my ass in terms of networking as well. Talked to over hundred people on the phone and my recruiting folder says I'm over 2k emails sent out now. I spent tons of hours practicing interviewing and doing mocks. I already tried networking with all the smaller boutiques/MM's and interviewed at a few but I just don't have anything left and don't see any prospects.
What do I do now? I don't think MSF is an option as with my profile I don't feel that I'm competitive enough to get into any good schools. Should I just take the my MO/BO position at a BB or stay an extra semester and try to get something through summer recruiting and try again in the fall? What's to say I can land something though, I've gotten plenty of interviews through networking yet been unable to convert. I really don't want to take my BO/MO offer, the work was seriously so boring and I can't stand it there. Is there still any hope to land a FT IB position?
Sorry to hear that man. Maybe you can try branching out into something else right now and then trying again after business school?
yeah worse comes to worse get a financial analyst or credit analyst or risk blabla kinda job that you can leverage into a b school and have some tangible skills to leverage towards doing banking or trading or whatever you want to do... do NOT get sucked into the black hole of opps
It's a tough year. Bank hiring isn't all that strong right now and a lot of folks want to go into finance.
Take the MO/BO offer and work your way into the front office. A lot of folks in the front office didn't start in the front office.
Sometimes opportunities can come out later in the year when boutiques decide they have more spots to fill. Obviously I'm not trying to be super optimistic here, but keep at it. Because you'll kick yourself if over the next couple of months you see other monkeys on this forum with 'success stories' of opps they found via networking or by fluke or whatever, that could have been yours.
This is probably not the best example, but I have a friend who didn't get a good FT offer until Jan-Mar... though this was back in 2007...
But now that the "official" recruiting season is coming to an end, or at least a slowdown, consider just reflecting on some of the things you can improve on from your interviews and superdays. If you got that many, it means you're a good candidate. But you're missing something that pushes you to the offer bin...
I just don't understand how I'm going to develop tangible skills at the MO/BO position at a BB and/or how I'm going to move into a FO type role. I've heard the stories of how impossible it is to get out of BO/MO. I haven't even landed a credit analyst/financial analyst position either and I applied for a bunch of F500 roles.
Tough to hear man. Another option you might consider is taking the next year to do something that will make you stand out from other candidates. Go teach english for a year abroad (which would also be a blast), found a company, drive across the country and make a documentary, etc. It sounds like you're close if you managed so many superdays, you just need to work on standing out in your interviews. Part of that is your interviewing skills in general (practice) and part of it is having cool stuff to talk about and make yourself memorable.
This is a great idea. This will just set you ahead of other candidates because you'd actually be 'interesting' and wouldn't fit the typical cookie cutter mold.
Also, honestly, even if you don't make it, you fought it all the way to the end and didn't let up at all. Be proud of that, very proud. It's good to keep things in perspective too. Ibanking isn't what prospective candidates make it out to be. Most people hate it (myself included) and a lot of people regret sacrificing two years of their life to do it, so don't fret it if you don't end up making it. There are much, much worse things that can happen in life.
Having a track record in industry is better than having spent two years teaching English at the base camp of Mt. Everest and having reached the summit five times. Again, do you hire an unknown quantity or do you hire someone who's been successful in another group that's kinda related who you can always send back and/or take less blame for hiring if it's not working out?
It's not what you know, it's not even who you know; it's how easy you are to work with and how risky they think it is to hire you.
Keep at it, man. Contact more boutiques; a lot of them haven't finished recruiting yet. Just wondering, do you go to a target?
f500 is much better than MO man.... atleast its FO
I'm at a target but not in the business school (so I can't drop resumes through career system/interview through business school and no banks recruit outside of bschool at my school), so that basically makes me a non-target or at best a semi-target.
Well, you take the CFAs and you wait for an opportunity.
A two or three review-cycle track record trumps Summa Cum Laude from Harvard and a spectacular interview when it comes to getting an offer from the front office. Hiring is really more about risk mitigation and minimizing downside rather than looking at the upside. If you've got a track record in middle office and you come off as pretty darn smart to folks in the front office, an internal transfer should be a breeze.
Just stick it out for a year or two, develop a reputation for being good at handling your MO responsibilities, and people will be a heckuvalot more willing to stick their neck out for you than a kid from Harvard who only has a few fleeting connections at the firm. Some of the most successful traders started off in the back office. Lou Ranieri, for instance, started in the mail room.
And Edmundo Braverman started out in the sands of Shitholeistan
Dude, don't give up. Don't ever give up.
Keep applying to jobs - through your school I assume? There should be miscellaneous finance postings. Also, some recruiting happens in the spring.
You need to prepare more for your superdays. You're probably a good candidate, given how many interviews/superdays you had, but you're not standing out. Maybe take a few days off school before your next final round, and focus on preparing like you would for a final. Then go in there like a near-crazed firm x enthusiast.
EDIT: I only breezed over your post, and on reexamining it - some of this may not apply. Good luck to you, though.
Don't give up.
Wait till 2011 1Q. Banks might have immediate hires if their numbers are good. So keep in touch with your current recuiters and let them know your interest.
You are really close, buddy.
Keep at it....one thing to consider - can you pursue a minor from the b-school, stay an extra year and get access to the b-school? A friend of mine had the same issue you did - from target but no access to the target bschool - he ended up minoring in business and it gave him access to career center there. It'll add a year to your graduation, but who cares if it means you land the job?
Dude. Are you serious? You've been invited to 5 superdays, so you are doing something right. I never made it to a superday and was laughed at by a relative that is a director at Barclays when I sent him my resume. I finally made it from networking. It seems like you have credentials but have trouble closing the deal. Get it done.
You are related to a Director at Barclays and all he did was laugh at you and not help you get in somewhere?
What a massive piece of shit.
Wow... harsh... but I guess unless you're the son/daughter of a MD or top client, you still have to have a decently passable resume to push forward via a connection.
Given that though - kudos on making it in via networking.
HAHA tell me about it , bro. I was thinking about calling him out now that I got into IB -- but I just sent him an e-mail and he was pretty stoked for me. I didn't want to be too much of a dick because he's still a director at Barclays and I could use him in a couple of years.
Don't know if you've considered this, but maybe also try for banks abroad? Having just gone through graduate applications in London, the whole process seems a lot easier than what I've read on this forum about the route you guys have to take. Also, at my university, there seems to be a few networking dinners ongoing, especially targeting graduate recruitment for Asia as well as Middle East and North Africa. Barcap especially.
Hope this helps
You obviously are good since you have made it as far as you did. I would keep up with your network and keep poking people. A lot of candidates fail background checks, drug tests, reneg on their offers, quit, etc. You never know when you might get a fast track interview for a spot that just opened up.
In the mean time I would do a couple of things.
1) If you have a decent contact at one of the banks that interviewed you I would call them and be frank. You have had all these interviews and haven't got the job. Could that guy be honest and tell you whats up. A lot of times they might say you are doing XYZ wrong. Maybe you are fine, but the timing sucks. If you can find out it would help a lot.
2) CFA L1. Might as well rock it out. I will add to your resume and help you out down the road. No harm in doing it now.
3) Take a break for a week. Go clear you mind. You need some down time dude.
4) Maybe look at an MSF. It would give you another alumni base to network with and you obviously have the connections so you could easily get interviews with places that do not recruit on campus at the MSF schools. Plus you could maybe squeeze in another internship and boost your resume even more.
5) All else fails, take something related. Try and get something in valuation, something in F500, whatever. Keep networking though and have another go at the interviews.
Hang in there. You are making it to superday so you are doing everything right. A lot of times the outcome is really random. Dont give up.
There are tons of boutiques out there. Keep reaching out as many haven't even thought about hiring for next summer yet.
don't give up! i got my BB summer internship in June after having failed 20+ interviews. consider staying an extra semester if u couldn't land a FO job. you already know how to get shortlisted for superdays, so it will be much easier the next time. plus, you will have the opportunity to do internship again.
+1 to staying an extra semester/quarter for summer internship, then convert that into full time
Dude- you are crazy if you quit. You could stay an extra quarter, and go for full time recruiting. Positions open up.
But here's a better option. Go to a boutique such as Qataylst partners. Just to give you some info- GS TMT in San Francisco hired 4 laterals last year. This is confirmed- trust me.
Now can you imagine how many laterals there are? In fact, lateralling may make it a hell lot easier to get where you want.
Haha go to a boutique such as Qatalyst? You say that like it's easy.
I'm still going to try for no name boutiques but I just don't see it happening with my luck
Keep trying harder! Get some rest, try to relax, and come back in the game when you feel rested and stronger.
You made it to the final rounds but sthg is slightly "off" or "missing" in your strategy / attitude.
Personality and technicals are keys - just get yourself a little rest, grab some beers or hit the gym and come back to the ring.
Think about it: You came this far! you don t want to give up this close...
Keep at it brother. Never give up the fight.
What we do not see, what most of us never suspect of existing, is the silent but irresistible power which comes to the rescue of those who fight on in the face of discouragement.
You should really consider staying another quarter/semester if the tuition won't choke you.
I come from a semi-target and have buddies who have gone that route. A majority of them now have BB FO offers. Everything is easier the second time around since you're now familiar with the whole process. In fact, my summer analyst class was filled with kids who delayed graduation.
You could always take the MO/BO role. Many doors will open up for you If you become a star- including b-school. Good luck! Stay hungry.
Just to try to help you localize the problem - can you give us your basic stats? (ie gpa, previous work experience)
Keep your head up and good luck!
Accept the BO job and keep recruiting/doing interviews. Once you get an FO offer, you can renege.
Do you have any friends at the B-school? Ask them to forward you the emails they get for job postings exclusive to them. Definitely don't give up.
I'm sure that one of the biggest problems I have is my background (3.1 GPA, math/econ double major, previous work experiences include BB BO/MO, VC financial advisory, F500 business analyst, and PWM). Probably makes it that much harder to get an offer...
Think of it this way....once you make it...victory will only taste sweeter.
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