Ok guys, I would really appreciate your opinion on this.
I am a computer engineering major at a 2nd tier college with a 3.9 GPA and as you would guess, trying to get into IB. I have held a few leadership position on campus and I currently intern in a BB(goldman, lehman, MS, Citi, Merrill) in the Application Development(IT) division. I have been trying to get an ib interview for the longest but unfortunately haven't made any progress with this and i am pretty sure all the positions are gone by now (was actually told this by the IB analyst recruiter at my firm recently). Alunmi networking wasn't an option becuase I couldn't find any alumni of my school working in IB, most end up in technical roles in firms like IBM, verizon, microsoft etc. I did the cold calling and sent numerous emails but still nothing positive has come out of it.I would admit though that i was targeting only the top firms.
Now my questions: -I am in my senior year and will be graduating in may, would it be a good move to extend my graduation date to dec 07 and focus on getting an IB internship? -Does anyone know of firms that are still interviewing so i could start hitting up their switch board? -Where can i get a list of all the boutique firms? -Would my best bet be sticking with the IT dept for a year and compete with the 08 graduates for the analyst positions?
If you were in a similar situation and are now in IB, please advise on the steps you took to get to your destination. Again your honest opinions will be greatly appreciated.
well first I have to say that I'm not in IB, so take my advice with a grain of salt.
What I would do in your situation, is attempt to graduate on time, but...apply for internship positions, this way if you get an internship position you can withdraw from a few classes and do the whole IB internship thing, and if you don't you still graduate on time.
Pretty much its impossible to get an IB job unless you have an IB internship, and a 3.9x from a non target
Personally I'm in the same situation as you, and my plan is, 2-3 years down the line to go to a MBA program and then get into IB that way.
From what I heard its almost impossible to get a job as an <abbr title="investment banking
">IB analyst after you graduate.Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...
Not much chance to get into BB firms, but you might consider MM to boutique. I'm in a MM firm and we did hire Associates w/o previous IB experience, though they're minority of class.
Try to network as much as possible, not just at your school.
I never interned at a bank, studied engineering but got interviews with Citi, ML, MS, and that was all. I did some valuation work for a Fortune 500 though, but prayers, good preparation was my key to landing those interviews. Also if you're a minority consider SEO/NBMBAA conferences.
Getting the interview is one thing, getting the offer is another story, but still possible.
Pray and never give up.
positive, MMs and Boutiques want you to have prior IB experience, a few of the rejection letters I got stated that specifically
direct quote: "As a boutique investment bank, we are generally looking for individuals with an excellent academic record as well as specific experience in corporate finance or m&a. While we appreciate your interest in our firm, I am unable to offer you an interview at this time."
thadonmega you might think it was your prayers and preparation, but w/o that valuation experience you wouldn't have any luck.
and yeah the key to getting a full time offer, is to go on as many interviews as possible.Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...
Join some finance related clubs, show ur interest and tell ur story.....
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