Which strategy to choose: BB OC or double down on boutiques?
I haven't had much success with BBs for SA. I'm now talking with several small boutiques, including some niche, top ones I'd definitely like to work at.
If I got dinged for BB SAs without even making it to the first round (London so no networking involved), is it a waste of time to apply for OCs? There's a tradeoff between the time spent working on boutiques and the time spent working on potential OC applications so I have to make a choice.
If you did not get even 1st rounds and your CV remains similar (work experience, academics...)
Focus on boutiques, OCs are way more demanding, once you have more WE you could then focus and move to BBs
The two are not mutually exclusive. When looking for entry level jobs you should cast your net as wide as possible. Do both BB OC (may have better luck, may not) AND hit up all the boutiques you can find.
This year is not really indicative of general quality of your app. I'm a student at a target university, have an elite boutique internship, perfect GPA, very high GMAT, lots of extracurriculars, did tests perfectly and this year I literally only got called by one other elite boutique SA and an US BB (GS/MS/JPM) for OC. In the end I was lucky enough to land the OC, but this goes to show that it's often about luck rather than skill. As a suggestion, even if London is not as networking heavy as the US, you should IMO still network as it's an easy way to learn what the firm cares about and a good answer-provider for the "why us" question.
Make your numbers as big as possible so that you get your best shot. If you can apply and would do the job, apply.
I mean a quite a few banks and myself included would wonder why you didn't convert your EB internship given that most (if not all EBs) hire with a spot for everyone.
But agree with you that recruiting has a part of luck to it.
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