I fucked myself really badly this recruiting season. I didn't realize how early the process would start and I started reaching out and networking with BBs and even MMs way too late. I feel like all the studying and prep has gone to waste and there's no hope. To make it worse I'm a junior at a semi-target and have a mediocre GPA. What can I do now? Please help. I'm so lost right now.
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Start reaching out to boutique banks
I've started reaching out, but I'm worried with my prospects for FT recruiting next year because I didn't get anything this year. I know most of the FT recruiting is done through SA programs and I have no idea how to break into a BB or even a MM if there are so few spots.
Don't worry about FT for now. Your main priority should be landing an IB job for SA. Once you secure it then start worrying about FT.
Your odds will increase greatly you have a IB internship vs nothing for FT
I did the same with regards to reaching out, just focus on boutiques right now.
How many cold emails have you sent?
I've sent at least 150
To boutiques or to shops in general?
Define mediocre?
3.3
A lot of firms have 3.0-3.2 listed as a minimum requirement. 3.5 min for IB, so just improve and take BS classes if you have to. I thought you had below 3.0 lol why are you acting like it's the end of the world? There are dumbasses that get FTs just through an internal connection and they sure as fuck don't have 3.8+s.... I'm assuming you've never had an internship?
mikemilkendidnothingwrong, I hate sounding like your father, but this is a good teaching moment. You failed to prepare for one of the most competitive hiring processes in the world and are in this position because of it. That is a "sunk cost", so to be speak, so stop worrying about it and move on. Your best bet is to start targeting boutiques. Visit their website and shoot one of their MDs an email asking if they're still looking for interns. That is what I did when I struck out during SA recruiting.
As for your question about FT recruiting, ya you're probably not going to be a top MM or BB for FT (that doesn't mean you shouldn't still be networking, but just realize it will be very, very tough). When you get a boutique offer for the summer, work your butt off every day to get that return offer. Worst case scenario, you work at said boutique for a year and then lateral (link to my lateraling guide for when that time comes).
An MD once told me that there are many ways into a building other than the front door. You can break into IB plenty of non-traditional ways. Your dreams aren't shattered and you've learned a valuable lesson about being prepared early on. Good luck.
Just wanted to say, your comments are so damn insightful. Thanks
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