I actually have a fairly strong resume, but have been unable to get an FT. My school is non-target, so we don't get many employers for IB/Finance and our alumni within IB is pretty bleak. I've networked my ass off but haven't landed anything. I am going to continue to network as hard as I can though.
1- How hard is it to get a FT position post-graduation? I feel like my only shot is finding an empty analyst slot for a lateral position.
2- Would it be a COMPLETE waste to get a temporary apartment in NYC/Chicago post-graduation? I would be networking my ass off all day if I did that, and I think I could land many meetings given that the summer is slow. Yes...my parents would be footing the bill. I could meet people directly in their office, and that is where I ultimately want to end up.
My guess is that it would be smarter to schedule a couple of trips to NYC rather than rent an apartment in the city(cities). You will likely be networking with a certain subset of bankers (MM, boutique etc) who might have spots to fill, and I assume you won't be meeting 80 new bankers a week for half an hour each, which may justify living in the city because it would be the time equivalent of a 9-5 job. Regularly meeting the bankers you meet and get along with (if regular meetings are even an option/necessary- they probably aren't) would probably still be cheaper if you made a few trips over the summer rather than lived in the city(cities). Additionally, you could spend more time looking for work in your home city alongside your IB job hunt, if you're considering working where you are. Just my opinion.
I want to write a long post as I was exactly in your position last fall. Worried that I was going to graduate (In Fall 2012) without a job even though I networked pretty well, landed a few Superdays, and was coming off an IB SA role. Dec 2012 came with me having no job (actually got a recruiter call an hour after graduation). Now almost a year later....I was able to land a RE Analyst role a month after graduation and lateral in an MM IB role a few months into RE role. I would say PM for more details about how I went about it, cause I know how you are feeling and I always said if I meet others in a similar position, I would try to give the best advice I could.
There are always a few spots that open up towards the end of the spring at the bigger banks and even some of the boutiques will ramp up dealflow and realize they need someone out of cycle. Keep talking to your network and something would pop up. I dont think you need to worry about the apartment just yet
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