All non targets that broke in (IB), what did you do? Feeling stuck…
I am a non target and have no experience. Yes that statement alone will drive a lot of WSO people insane. I have been recruiting for 11 months and all I can think of right now is that I’ve dug this far, it can’t possible hurt to dig a bit more. You know what the saying is, a lot of people give up just before finding treasure. What if I turn back and come to find that I could have broke in if I had just dug a bit more?
How can I break in? What should I do? I am more than proficient in Financial Modelling. I do several specialised courses on RE and ESG. I am a CFA Level 1 Candidate. Did the training that real employees go through as soon as they get a job in a BB. I come from a non target in London.
And btw how in health will I be able to get a job in a small shop when small shops don’t give out visa sponsorships or don’t have any jobs available. Feeling stuck. Any advice helps.
I was in your shoes just a few months ago.
First year of uni: Applied to all springs and got none (over 60 applications)
Second year: Applied to about 120 SA positions and got two offers. Success rate is close to 0.05% and it took me about 18 months to get an offer. You can’t fail if you don’t give up.
Polish your cv, prepare for interviews, read a lot on the markets and current affairs and be patient, it will come.
Thank you. I really needed that. Were you applying after graduating or were you applying from second year which would mean you were unemployed for 6 months after graduation? Also, how did you not give up, what were your motivators because I go through days where it just feels like there’s no way through. Thanks for your input.
Unless you die, time is gonna pass anyway whether you give up now or keep on trying. You might as well do the latter.
I graduate next year
Sounds like you've taken the right steps. Having no experience will definitely make it tougher to break in. I'm not sure what year you're in, but I would take whatever you can get whether that's RE, Corp Fin, PE. Got to build your experience. I go to a complete "non-target" in the US. Went from an internship in RE to Tech to IB.
I’ve graduated and it’s been 11 months. I did 2 of my 3 years online and did my first year in another country. Do you think there’s anything that’s on the menu for me? Thanks for your input
I wouldn’t focus on IB, if it has been 11 months. Big 4 would probably be your best bet and then re-recruit in a few years. Also getting an MBA wouldn’t be a bad idea.
Do you not think anything other than IB might be easier to break into (ER maybe)? I personally do not like the fact that one had to do ACA or any other Accounting qualification to work in Consulting (well not all roles require one to do that but most do) in the Big 4 and that is keeping me off Consulting. I also think it will be easier to move from Middle Office in an Investment Banking form to IB than to move from Consulting to IB. Am I thinking wrong? Am I fucked given my situation? Thanks for any help.
you can always do valuation roles (a bit easier to get, better WLB, but only about 75% TC of what IB first years make) a large amount of MM IB firms have valuation teams, so it may not be a bad idea to look there, with the intention of an internal transfer to IB after 12-18 months.
You can't get a Top 10 MBA without good experience.
What year in school are you? Having 0 experience is a huge detriment. I did an unpaid finance internship and 2 unpaid IB internships prior to junior SA recruiting.
Each experience helped immensely in getting the next one (i.e. freshman finance allowed me to get an IB business development internship, which then allowed me to get a sophomore SA internship). Keep in mind that these were at no-name local boutique shops, but having actual experience as a non-target really set me apart. During my SA interviews I spoke extensively about real deal work I had done the prior summer - I remember one target kid in the break room tell me he had prior banking experience but when asked about it in the interviews he said “I just did what my MD told me to do.” Point being is he didn’t have any actual experience/know what he was doing and thus didn’t get the offer.
So if you’re already at junior SA recruting it’s obviously too late, but if you’re younger then I would recommend getting any related IB/finance experience on your resume which will help you stand out from target kids.
What is your GPA? Also, IBers don't really care about the CFA exams.
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