Am I getting auto rejected because of my graduate status - what is the solution?

I am a graduated British MD with no exp in finance, working in London with an interest in making the switch to IB. I am late to application cycle, I started applying to banks/pods/firms starting around 15 days ago. Having said that, I already threw in about 14 applications and got rejected for 2 and haven’t heard back from most. Many of those I haven’t heard back from I applied on the day they were out and some later.

Now I suspect a few of the rejections were either - because I already am a graduate, when the job asks for applicants to be students.

As someone planning to do masters, but will be a student next year. Hence, I want to say intended masters so it’s clear I will still be a student from next year and still have a shot at these places. I heard people do this, but wanted to check first hand if this is appropriate to do to get around the graduation date deadline.

2 Comments
 

Based on the most helpful WSO content, here are some insights and solutions for your situation:

  1. Graduation Status and Applications:

    • Certain banks require applicants to be penultimate year students for summer internships. If you are a graduate, your application might be automatically rejected if the position specifically asks for current students.
    • To navigate this, you can indicate that you are planning to pursue a master's degree. This approach has been used successfully by others in similar situations.
  2. Strategies to Improve Your Chances:

    • State Your Intended Master's: When applying, mention that you are planning to start a master's program. This can help you be considered as a student for the purposes of the application.
    • Networking: Engage with people who have gone through the process at the banks you are applying to. Networking can provide valuable insights and potentially lead to referrals.
    • Cold Emailing: Reach out to boutique IB firms in your area. Even if the positions are unpaid, gaining experience can be beneficial.
    • Alternative Internships: Consider internships in related fields like investment consulting or asset management if IB positions are not immediately available.
  3. Application Timing:

    • Ensure you apply as soon as positions are posted. Delays can reduce your chances as many firms review applications on a rolling basis.
  4. Explanation During Interviews:

    • If questioned about your graduation status, explain your plans to pursue a master's degree and how it aligns with the internship timeline. This can justify your application and show your commitment to further education.

By following these strategies, you can improve your chances of securing an internship despite your current graduate status.

Sources: International Student - Chance of getting an IBD internship in London?, Missed SA 2019 recruiting - delay graduation for SA 2020?, Ask mbaMission about Business School Admissions, Are transfers really screwed?, Ask mbaMission about Business School Admissions

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

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