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I'd try getting good exposure to how sponsors look at deals and also modeling.
Understanding how sponsors look at deals should ground you finance thoughts and give you perspective on actual market stuff. It will also be very useful if/when you move out of IB.
You'll learn modeling at IB eventually, but knowing some before interviews helps you understand technical questions a lot better and generally makes you sharper.
Do you have any friends who went through the process last year, or do you know the incoming first year class? These will usually be the people on the ground running the recruitment teams in the fall, and I would recommend reaching out to them ASAP. I was in an almost-identical situation as you (weak GPA but good experiences) and I'm pretty sure the only reason I got first rounds was because I networked my ass off both in my alumni network and outside of it.
I would say the one thing I didn't do that well was identify who was actually doing recruitment for my school early enough- it's hard to tell before events start in the fall and I didn't know the first years that well while they were at school. If you can reach out to these guys immediately as them knowing your name a few months early is incredibly helpful.
Also make sure your technicals are absolutely perfect, I would start studying those now. Definitely got harder technicals as a result of having a lower GPA
I do have a very good friend at BAML ib who is going to do recruitment but only acquaintances at shops like Lazard, who I will definitely contact. Should I contact my friends who are currently interning at BBs right now for other people to reach out to or should I wait until their internship is over? For technicals, I'm going to read Rosenbaum a couple times in addition to WSO's Technical guide and the Vault Guide. I've done WSP's modeling course and Macabus. Do you have any other recommendations or do you think that is enough? Ok, I'll get to reaching out to the first years right now. Thanks for the advice.
Current summers are pretty useless for recruitment as of right now, with the exception of knowing who is on the recruitment teams. Ask people you already know who their points of contact were last fall and reach out to those people.
I would recommend building out a full 3 statement model for practice as well as practicing the WSO guide with somebody else who asks you the questions- this in combination should give you the technical competency and ability to talk about financials (both are important).
Just figure out what you're bad at and fix it early. I fucked up a few interviews because I was nervous so I just had to be really conscious of the image I was projecting and how I was acting, and that kind of thing.
You can definitely network your way into some first rounds. 3.4 from a target is hardly a deal breaker, even for EB's. I would focus on setting up some meetings with people ASAP, ideally people who can become internal advocates for you when FT interviews come up.
What level should I target? Alums that are MD's? Should I just reach out to literally all of them right now?
I've always had the most success with senior Associates, VP's, and Directors. It's great if you can get coffee or even a call with an MD, but when I was recruiting those meetings were few and far between. I never had much luck with analysts and always tried to reach out to people actively deciding who would be interviewed.
Now is a good time to tap the alumni community. I wouldn't flat out ask for interviews, they know why you're contacting them and if they like you they'll do what they can to help. Your goal should be to come across as likable. If things are going well you can tell them you're looking at FT recruiting and ask them what they would recommend doing at this stage. This is pretty key, you're just asking for some professional guidance not a personal favor. If you've made a good impression on them this is usually where they'll offer to meet again closer to August which is when most of the FT recruiting really happens. Depending on how many SA's receive and accept offers there may be 1-2 seats open in a few different groups. This is also the window of time when everyone plays musical chairs with FT offers and try to shop around. It's a great opportunity for someone like you but you have to build solid rapport with people to be considered for these interviews because they are not widely advertised and the timeframe varies from firm to firm. By the time September rolls around 99% of the seats are filled at the BB's and EB's for the next analyst class.
Hope that's helpful. Good luck.
So I started networking with alums and set up a couple calls with some shops like Mizuho and MDs at ebs like Greenhill/Moelis and one with a MS/GS global head for an IBD coverage group. Should I expect the higher level ones to ask more behavior questions or should I expect all to ask very technical questions? Also, is it ok to ask people at this level for more people to reach out to or is that only acceptable for Analyst/Associate level people?
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