Advice needed for someone graduating soon without a an offer

No return offer and no offers from the shops I interviewed at from August - early November
Did a couple of different superdays in person to get beat out and told its a tough market, not hiring as many, very competitive pool etc. Have sacrificed a lot of my 4th year recruiting with very little to show for it.
I either hear people say more roles to come in January/February or that FT is completely wrapped up. I really was looking to land an IBD role but am open to PE. Doesn’t have to be anything crazy obviously. Very few people responding to emails now even at MM / LMM / smaller firms.
What would you do in this situation? Just apply to ANY job I guess even if it isn’t finance related? I really don’t want to delay graduation or do a masters. There probably isn’t even an internship role open worth delaying graduation for anyways (like top BB or EB)

 

Oh, I can see you're in a bit of a pickle, but don't worry, we've all been there. Here's what I'd suggest:

  1. Keep Networking: I know it's tough, especially when you're not getting the responses you want, but persistence is key. Cold emails and coffee meet-ups can go a long way. You never know who might be able to help you out.

  2. Brush Up on Technicals: It seems like you've been caught off guard in interviews before. Spend some time studying technical interview questions. This will not only help you feel more prepared but also give you a confidence boost.

  3. Broaden Your Horizons: While you're aiming for an IBD role, it might be worth considering other areas in finance as well. The market is tough, and sometimes it's about getting your foot in the door and then working your way up.

  4. Keep Applying: Don't limit yourself to just finance roles. Apply to a range of jobs that interest you. The important thing is to get started somewhere.

  5. Resume Review: It might be worth having someone review your resume. A fresh set of eyes might be able to provide some useful feedback.

Remember, it's not the end of the world if you graduate without a job offer. Many successful people have been in your shoes. Keep your chin up and keep pushing forward. You've got this!

Sources: What to do if you don't get an offer in the age of COVID?, Graduating without a job offer, How many graduating May 23 without a FT offer?

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Deeply sympathise with your situation, you are unfortunately graduating in market which is expecting a recession (that is slightly worse than actually being in one) so here are a few pieces of pep advise
1. Buckle up - have grit - don’t give up but also be smart about it - if you speak with anyone in the industry you will realise Nov-Feb end is not recruiting season esp IB, so how much ever you try but nothing is going to happen
2. This is a good time to sharpen your skills, if you are making it to super days, then believe me you have a lot going for you, but missing something, what it is I don’t know, but may be your peers, teachers, seniors other someone else wud know
3. Always have a back up - corporate strategy roles, FP&A, even mgmt consulting (in a boutique) are good parking spots until the market recovers and you can recruit

TLDR, have grit, hold on, be flexible on jobs while keeping recruiting in mind, try again next March-May

 

I’m not OP, but thank you for the words of advice and encouragement. Regarding banks potentially opening later this spring, traditionally what does that look like (which kinds of banks etc), and are these spots posted to the public or listed internally? Thanks. 

 

Typically spots open up in spring for banks ranked 6 and below in the ranking table cause a few folks with offers tend to rethink their options or want to do something else.
Hit/Miss on whether it will be posted, sometimes yes.
Best is to keep in touch with your contacts at each of these Banks, drop in for a coffee/drinks to NYC (I used to fly-in and out atleast once a week, meet ppl during the day) but for god’s sake don’t bug them, be smart about it, may be have multiple contacts in the same bank same or different groups
Much like a college app, it’s a toss up, hustle until you get it
This system is intentionally designed this way to weed out soft hearted, IB is bruising and winning business involves even hustle than landing a job - so keep that in mind and good luck

 

Yeah to be specific I’ve made it to 5 superdays and 4 were in person (fly out). This really fucked up my current semester gpa. Gap semester or light one is definitely optimal if you still have to recruit but I expected a return or to get an offer august-October since I have good experience.

As far as interviews I feel I was just too stretched thin. I was doing some IB, PE, HF, RE… whatever was open. Currently have several coffee chats scheduled for first week of December and hoping it can lead somewhere even though a couple are alumnus who said they aren’t hiring but will try to give me some advice… this has also been the time suck. Sending out emails (5ish hours a week), actually doing the coffee chats (5ish am hours a week), researching every company and all their deals and mixing them up with the deals I did or other company deals for what I’m also studying for (10+ hours) then on top of that school 20 hours to try to keep a high gpa but impossible when you have to miss school to interview or network.

Won’t go on because it will seem like a rant but thank you for your insight. Really hope more roles open up. Felt like shit multiple times in the year when I was told I didn’t get it or 2nd place for the offer and only taking one. Will keep my head up though and honestly just apply to anything on handshake just to feel a W at this point as well

 

Been there and done that bud.. just hang on

Night is darkest before the dawn

It’s good that you have come this far, one suggestion, for each of those interviews just feel your gut and write down honest feedback about yourself, doesn’t matter what they told you…

Take these alumni chat seriously, they may not be hiring but if they like you they could refer you someplace, finance is surprisingly a tight knit community after a few years-in, these folks know more than they let-on, so be the best in these chats and give it time and be persistent

If you have not already, outreach to the following banks (not in any particular order)
1/ Rothschild
2/ Alantra
3/ Jefferies
4/ Arma Partners
5/ Deutsche Bank
6/ GP Bullhound
7/ HSBC
8/ Avendus Capital
9/ Santander (if UK is OK)
10/ Tidal Partners
If the market picks up (🤞) all the EBs are a fair shot in April / May, have seen it happen pre/post covid

 

Thanks, in a similar boat and this is helpful. Secured a backup offer on a Structured Investment Team at a large Insurco, but worried about getting pigeon holed and location is the worst.

Am I better off turning the backup down, grinding it out at my ER internship (RIA) until next year? Feel like I’d be settling and not sure how hard the jump will be to get into IBD / HF / PE down the road. Backup is a 3yr program so I was thinking worst case CFA & then try the MBA > Assoc. route if nothing else sticks before May.

Second guessing everything at this point, pls help

 

Echo above and add that you try for Asset mgmt, investment mgmt, Equity Research, corporate banking, risk mgmt really plenty of temp spots to think about

 

Appreciate the comment and I agree.

Actually been doing this but also feel like it’s been a headwind early on because I stretched myself too thin. Right now there are barely any roles though so there is enough time to shoot at anything that pops up.

 

I know people who have a career path for people with and without undergraduate degrees, they come from this financial background themselves, takes a month of training for certification plus post support guidance for job interviewing, with an expected salary of €3,000/mth Europe or $4,000/mth US, senior positions are €100,000+ and $100,000+ per year after a few years, some of the known roles being recruited for are hybrid and work from home.

 

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