Constant Rejections

To tackle your situation effectively, here’s a structured approach based on the most helpful WSO content:

1. Leverage Networking Aggressively

• LinkedIn Outreach: Start by identifying alumni or professionals in S&T, asset management, and equity research roles. Send personalized LinkedIn requests mentioning your background (target school, S&T internship, and strong academic performance). Keep it concise and professional.
• Cold Emails: Use a similar approach via email. Mention your interest in their firm, your relevant experience, and politely ask for a quick chat to learn more about their career path or team.
• Tap into Mentors: If you had mentors or connections from your previous internship, reach out to them. They might know of opportunities or be able to refer you.

2. Target Off-Cycle Internships

• Off-cycle internships are a great way to get your foot in the door. Many firms in London offer these, especially in S&T and equity research. Focus on boutique firms, smaller asset managers, or even hedge funds that might have more flexible hiring needs.
• Tailor Applications: Highlight your S&T experience and academic excellence. Emphasize your passion for the role and how you’ve developed relevant skills (e.g., market analysis, trade pitches, or research).

3. Refine Your Story

• Be prepared to explain why you didn’t get a return offer. Frame it positively, focusing on headcount limitations and how the experience solidified your passion for the field.
• Practice articulating your “Why S&T/Why this product” story. This is crucial for interviews and networking conversations.

4. Broaden Your Search

• While London is competitive, consider applying to roles in other financial hubs like Dublin, Frankfurt, or even APAC regions. These markets might have less competition and could serve as a stepping stone.

5. Stay Updated and Add Value

• Stay on top of market trends and develop strong opinions on current events. This will help you stand out in networking conversations and interviews.
• Consider creating a one-pager summarizing market insights or trade ideas to share during networking calls. This demonstrates initiative and knowledge.

6. Persistence and Resilience

• Rejections are tough, but persistence is key. Keep refining your approach, learning from feedback, and expanding your network.

By combining targeted networking, a strong personal narrative, and a proactive approach to off-cycle opportunities, you’ll increase your chances of breaking into the industry. Good luck!

Sources: Getting an S&T Return Offer - A Survival Guide for Future Interns, How to be a good S&T Intern, S&T Summer Analyst Lateral to IB FT?, S&T interns: 3 things that got me hired