Backup Plans? I failed to break into IB
Hi,
I am a Canadian student that failed to break into banking. I go to a top school (Ivey/Queens) and I honestly have been prepping since summer of 2023 for a 2025 summer position but ultimately nothing worked out. I had a couple interviews but nothing materialized. Now its almost december and I never pictured myself to be in this position still not landed anywhere.
My goal was to do US banking first, then Canadian banking as a backup. Now I haven't even been able to get a first round at these small sweatshops in Toronto. Even buyside firms are difficult to break into. Not to mention its difficult because the places that start hiring now - I haven't chatted people there, so scrambling to get chats in doesn't help.
I'd love to hear everyone's advice. Is anywhere in the UK still hiring - is that even feasible? Are there any small shops in Toronto that have yet to hire? Are there any shops in the US that sponsor and haven't hired yet? Please help me because this is really killing me trying to figure it out so late into the process - any help is appreciated!
Went to one of the schools you mentioned, reality is that Banking in Canada is a lot harder, and there are no real “target” schools to bank on to break in because a lot of it is club dependent now and things have just gotten really competitive. I ended up breaking in in a better market but I attribute a lot of that to market conditions. Now, it’s just a lot harder because we no longer have a ZIRP environment. If you can, start prepping for the gmat/gre and gun for a top MSF program in the states and re recruit there. Canada is not really a forgiving market right now and the limited job postings for the amount of people trying to break in speaks that. I wish I could give you a better answer than this but best of luck. Try not to be too picky. Your best bet is a msf at a US school.
In order to get into good msf schools though don’t you need job experience. What do you suggest I do in the interim?
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