Where to turn now?
I'm stumped. I haven't gotten a single first round interview. Anywhere. And I cast a wide net.
Background: I'm a rising junior at a semi-target, with no prior connections in anything even remotely finance. I have a 3.7, am a division one athlete, and am involved in other things on campus. I've spent the past 12 months working my ass off and stressing - networking, teaching myself (being liberal arts), and finding a fairly adjacent internship for this summer (I've been doing due diligence and industry research).
But now, with recruiting moving on past me, I'm at a loss. First of all, where did I go wrong? I networked heavily where I applied, with anywhere from 3-10 coffee chats per bank. Obviously I didn't hit it off with everyone I spoke with, but even at places where I really gelled with people - people who have been nothing but helpful - I haven't gotten first rounds. Other people who told me they'd flag my resume to HR either bailed on me, or weren't senior enough to scrape me through, I suppose. I know that recruiting is a crapshoot at best, but I refuse to believe that I've been that horrendously unlucky. That last sentence will probably draw some remarks. So be it. Anyway, all I wanted was a shot. One interview, and I'd be more or less placated!
Moving on from that, I'm not quite sure what to do. I'm lacking confidence in my ability to get an interview anywhere, even at smaller banks. Many alums that I had spoken to previously have stopped emailing me back. Even asset management - which, to the IB obsessed, seems a cruel fate - seems beyond me. If I can't even land a single interview after spending a year doing all that I could, how am I to turn around and snag another internship without any networking? Do I shoot for asset management, try for a PE internship, or really target smaller banks?
Ideally, I would like to give FT recruiting a go. Another 12 months to study up, so that when I actually manage to land an interview (which I'm hoping another 12 months of networking will bring) I'm ready. What sort of role will best set me up for that? Yes, I know there are loads of variables, but in general, where should I focus my gaze now? Any and all suggestions are welcome - except for those who will unconstructively tell me that life isn't fair.
TL;DR: Liberal arts semi-target, division one athlete with a 3.7 and fairly relevant experience lands a grand total of zero first rounds despite solid networking efforts. Seeks advice and sympathy.
It’s a tough market, just keep trying.
If you can't land anything, give MBB recruiting a shot. It's more prestigious, you'll have time in between now and the fall to prepare, and it is substantially more meritocratic than whatever weird games IB recruiting has been playing lately.
D1 athlete + 3.7 + a bit of networking at MBB should put you in a good place to land interviews there.
Not sure if more prestigious but I'd do what he mentioned.
While MBB isn't investment banking, it's just as respected and you can probably recruit into FT easier or lateral further in your career.
Also your profile kind of fits a people person which is important in Consulting
*says MBB is more meritocratic
*Includes being a D1 athlete as important
MBB also has more prestige whores, since they care much more about going to a target school
Yes, being a D1 athlete while having a 3.7 GPA is impressive. How is that not meritocratic?
At MBB there is not a stream of referrals or resumes getting pushed. That is as opposed to banking where someone with a 3.3 can get by and a bunch of people's frat brothers get them through the pipeline (no hate on Greek like, in a frat too...but I acknowledge that it's certainly less meritocratic)
If you have extra eligibility as an athlete left, you might want to look into extending by a semester to give you another shot at SA 22 internships.
Following
Sorry to hear, OP. Recruiting sucks! I would also like to hear from bankers not prospects as to why alum may not be emailing back.
Why is asset management so looked down on?
Because college students think everything outside of IB/PE is complete shit on this forum
In terms of salary, I know it’ll be less than IB, but not by much right? A gig in AM is still worthy to aim for yeah?
I don’t know anybody that looks down on AM. I’m referring to the legendary LO (Wellingtons/Fidelitys/Putnams etc). Incredible hard to get a seat. Idk about AM within banks though. That might be different
I can definitely see how it is tough for you especially since you are at a semi-target. Spots are focused on targets and in this job market i'm sure HR is consolidating headcount thus making it harder for non-targets to get in.
Are you sure you go to a semi-target? Or do you go to a semi-target but aren’t in the business school? A 3.7 GPA at a semi-target with networking should get a few interviews.
Semi-target liberal arts school in the northeast. No business school/majors here. And yes, that was my assumption, and the root of my current frustration/confusion.
what liberal arts schools in the northeast are D1?
Go for S&T - they love college athletes. Decent hours and decent pay as well
I appreciate the sentiment, but S&T recruiting is also wrapping up, as I understand it - also, I know from some friends' experiences that applying to IB and S&T at a bank is a sure way to get dinged. Those considerations aside, I can't really picture myself thriving on the desk - is that odd, seeing as I could see myself excelling at banking?
Not true, I know people who applied to both and went through the process for both at BBs. Perhaps some other people half assed their prep/networking for each one, but if you actually try for both they wont ding you for applying to more than one division. S&T is less competitive to get though so could be good to apply to
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