Being late to IB recruiting -- need advice
Current sophomore at a target with a 3.7+ GPA. Involved in a couple of finance clubs along with a past economic-policy internship at a thinktank (not directly related to finance but ig whatever helps). I was deadset on going to law school until towards the end of February when I decided that I wanted to do IB. I already submitted a couple of apps to some of the BBs with some light networking.
I know I'm late to recruiting so I'm not expecting much in terms of BBs. I'm realistically aiming for a 2025 SA role at some reputable MMs with the hopes of lateralling later. However, it seems like a lot of apps even for MMs have already been out for a month so to say that I'm stressed and worried about my chances at getting a 2025 SA internship would be an understatement lmao.
Is there still hope for me? Now that exams are ending, I'm gonna grind and do whatever it takes to break in. I did some research and I'm considering delaying my graduation by a semester to reapply for these 2025 SA roles, but I want hear some other perspectives and advice to see what my options are rn.
Ah, the classic tale of the latecomer to the IB recruiting frenzy! Fear not, for even in the world of high finance, there are tales of hope and strategies that can turn the tide in your favor. Let's break down your situation and chart a course through these turbulent waters, based on the most helpful WSO content and threads.
Networking, Networking, Networking: You've started with some light networking, but now it's time to turn up the heat. Reach out to alumni from your school working in IB, especially those in MM firms since that's your target. The WSO Networking Guide can be your bible here. Remember, it's not just about asking for a job but building genuine relationships. Ask insightful questions, show genuine interest in their career paths, and how they broke into IB.
Leverage Your Background: Your economic-policy internship might not be directly related to finance, but it's all about how you spin it. Highlight any analytical skills, research, and policy analysis work you did. These are valuable in IB, especially in sectors like financial institutions groups (FIG) or government advisory roles. The WSO Behavioral Interview Guide can help you craft compelling stories around this experience.
Consider Off-Cycle Internships: If the traditional SA 2025 roles are slipping away, look into off-cycle internships. These can sometimes be easier to land and can provide the necessary experience to make you a more attractive candidate for the next recruiting cycle. Plus, they show your dedication to breaking into the industry.
Delaying Graduation: This is a significant decision and one that many have considered before you. Based on previous WSO threads, delaying graduation to reapply for SA roles can be a strategic move, especially if you can use the extra time to boost your GPA, gain more relevant experience, or simply get better prepared for the recruiting cycle. However, weigh the financial and personal implications carefully.
Expand Your Horizon: While BBs and MMs are the dream for many, don't overlook boutique banks. They can offer valuable experience, often with more hands-on roles early on. Plus, a successful stint at a boutique can be a compelling part of your story when lateraling to a larger firm later.
Stay Positive and Persistent: The world of IB recruiting is competitive and can be disheartening at times. But remember, persistence and a positive attitude can make a significant difference. Keep learning, keep networking, and keep applying. Your break could be just around the corner.
Remember, the path to IB is not linear. Many have taken unconventional routes and still found success. Use the resources at your disposal, stay flexible, and keep pushing forward. Good luck!
Sources: Missed SA 2019 recruiting - delay graduation for SA 2020?, IB Recruitment Timeline for Juniors & Seniors who didn't land a junior-year IB internship, URGENT: Am I Too late for SA 2020?!, Am I too late or too early to apply for Sophomore SA 2023?, 2020 SA Still a go? Anyone hear back from the companies?
Work harder. Get an offer. You’re not cooked until you let yourself get cooked.
Target LMM / Boutiques, but periodically check in with all banks in case a rouge spot opens up throughout the summer or fall.
The creme always rises to the top my friend. If you don't land IB, and don't have a job on track for IB, you can always get a MBA reset. It's a marathon not a spring. Don't get discouraged for too long, and keep grinding.
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