Am I Behind?
I’ve sent out just over 70 applications to MM, BB, and MF shops since I found out my team this summer did not have the headcount to reoffer (coming from a GS/MS/JPM)
I have taken close to 20 assessments and have gotten lots of rejections with my first interview being at a small PE firm in NY this coming Tuesday. Part of me is worrying I will miss the ball here pretty soon with the main recruiting cycle.
I feel as though I’ve sent a good amount of apps and have tried to network, but am getting some pretty awful response rates. All this being said I really don’t want to see my hard work go down the drain by having to take a pay cut from what my internship salary was.
Anyone in same boat??
Tips on networking within different parts of Investment Bank I previously interned at? (I got a great review so this would be ideal)
How has recruiting been for others this summer?
How have you found 70 apps for the types of places you’re mentioning? In a similar boat but there’s like 20-30 total firms that people seriously consider fitting the criteria you mentioned unless you’re including a swath of LMM/MM PE in that number.
Included in the 70 is also a couple HF and then 3-5 VC roles
But I have webhooks setup on pretty much every major bank or funds job board so I get a ping whenever new roles come out and have sent in an app to almost all.
Couple have came and gone within only a few days which led me to set that up. Tracking everything on excel my count to date is 73 atm (touch grass I know)
fuck man impressive, how did you do the webhooks?
and what PE firm is it? One rock, curious because i apllied too
not One rock, would prefer to keep private for time being
By MM do you mean MM IB or PE - or both?
both
I respect that, it’s good you have no ego while applying. If you don’t mind me asking what type of uni do you go to? Is it a target?
I have been getting interviews but honestly pretty sure my app is getting thrown out as soon as they force me to tell them i didn’t get an offer.
This is what I’m afraid of. A family friend who’s an MD said this will be the sad truth no matter what regardless of the fact that my group simply did not have capacity to hire anyone.
And if I go to anywhere that isn’t a GS/MS/JPM prestige they think I couldn’t cut it at the top of the league table
Maybe we’ll get lucky and random hiring picks up later in the year when the others have already signed their offers lol
I think a lot of kids are in this boat right now, personally very burnt from everything
Totally agree with this, also, the market for FT hiring is still at a pause or justtt starting pick up from layoffs depending on the firm
Exact same boat here, was at a top buyside/sellside shop and did not get the return. Have sent countless emails with shitty response rates. Thinking of staying an extra semester and just applying to internships as well idk.
Sorry to hear. IB recruiting for FT from my understanding (for those who re-recruited) were given out late August / early September. Not going the IB route but I remember a 2nd year telling me that if you don't get an IB FT offer by end of September, the chances are very slim / close to 0 that you'll get something in IB FT. Highly recommend reaching out to regional buyside/sellside shops if you can, you may get lucky but those boutique / smaller shops tend to not have the budget to pay a MBA grad a decent amount or in some cases, they just don't need any new people / already have an established team. A few people pulled this off at my school and I know at least one of them had a very strong personal connection with the firms he recruited for so he is an exception.
Just a fyi, I'm aware that HW and JEF have some open FT positions. Would network at those firms if you haven't yet.
I am in a very similar situation. Going into my senior year and did not get an offer as the team I was on did not have the headcount to reoffer (GS/MS/JPM). Been sending out applications to all kinds of shops and have not heard back from many of them. Similar issues with networking and response rates. I think a couple of firms have taken well to me offering references who could speak to my ability from this last summer. Hoping that positions get posted as the market picks up over the year.
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