Clearly cannot score BB or top-tier boutique, what are my options?
Hey everyone, I'm going to make this short and simple. I clearly cannot score BB or a top-tier boutique for FT analyst position 2015. I come from a NT and have a 3.5 gpa.
My questions is what are the options for soon-to-be graduates in a position like mine? Does anyone have an idea of some firms that are not big name and give NT's like me the light of day? Also, how would I go about finding 2 year analyst programs at smaller level boutiques?
Thanks for any help you guys can provide.It is much needed.
NT and 3.5 does not mean you can't secure FT at a top BB or boutique (in theory - probably too late for you now).
There is an old thread on WSO (can't remember the name) with a list of a lot of boutique banks - could be a good place to start
I wouldn't waste this entire recruiting season only going for IB.
Just because you don't land GS/MS or Evercore/Moelis doesn't mean it's the end of the world. There are many boutiques, several that are industry specialists that are great IB jobs. To name a couple:
Qatalyst Partners, Technology (BB/EB compensation)
Sagent Advisors, Consumer & Retail (BB/EB compensation) swanky office too, check it out here:
http://www.tpgarchitecture.com/portfolio.cfm?FilterBy=ClientSectorID&Fi…
There are dozens if not hundreds of smaller boutiques and regionals out there that don't recruit like BB/EB's. Some are crappy few man shops and some are very good (I'm not including top boutiques/EB's). Most decent ones occupy a niche: they do mid market chemicals or small to lower-mid tech and tend to be started and run by guys who carved out a niche for themselves. Figure out if you have a passion for an industry and pursue those. For example I know off the top of my head of 7-10 in SF alone who specialize in smaller tech and telecom companies-if that's an interest of yours go for those.
Figure out where you want to live. If you're not going for BB you don't have to only target NYC. If you're college is in/near a major city try to get an internship during the school year at one of these types of places. More often than not a smaller IB will have flexible in year internships (I did one albeit a long time ago). You may be able to parlay that into an offer and if not it's at least experience.
Use your school's alumni network and see if alums work at interesting small shops. Non targets tend to help out their own a lot because they know what it's like swimming upstream. I know it's the most overused term but you need to network your ass off when companies don't come knocking at your door.
And like @archervice stated, broaden your horizons and think beyond IB. There are tons of lucrative finance careers (and I'm not talking bookkeepers) so look around and keep an open mind.
I am not only targeting IB, I apologize for my lack of detail. I would welcome positions in research, Asset Management, pwm, etc. I just want to get my foot in the door. I currently am interning with an independent brokerage near my university. Do you think this is sufficient experience throughout the school year or should I seek smaller boutique banks to try and garner some more relevant IB experience?
Also, as far as these boutiques go, I have been applying to a bunch of them, but due to their sizes most do not have formal analyst programs. Do most boutiques offer the traditional 2 year analyst training program or is more of a hire and learn on the job type gig?
Most small boutiques will have a learn on the job type of thing if they don't have a formal analyst program.
And many smaller firms are not interested in training a new employee. Ex: Qatalyst, mentioned above, does not hire undergrads out of school.
I just have to note that Frank Q's IB isn't a small no name boutique. The guy's a legend.
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