Disappointing Recruiting Season, Now What?
Regular lurker here typically, but need some advice.
Non-target, busted my ass last semester making sure I get an IB SA offer (boutique) and went through FT recruiting this season. I had some good interviews but the only offer I have now is with an IT consulting firm.
It's not something I particularly want to do as I really had my heart set on banking and do not find this job particularly interesting, and some of the posts in the past really scared me away from the IT consulting world in general (referring to http://www.wallstreetoasis.com/forums/life-of-an-…).
So my question is, what should I do? I can take this position and try my best to lateral somewhere and go the MBA route, or I can turn the offer down and keep looking through the Spring semester.
I'm leaning towards turning the offer down as I feel accepting this offer now would essentially be quitting, but at the same time the last thing I want is to go through a weak Spring recruiting season with nothing to show for it.
i'm sure it's not news to you that there aren't enough banker slots for all the kids that think they want to be bankers. the fact that you had your heart set on it means dick. you need to do an honest evaluation of yourself, your profile on paper, your ability (or inability) to rock out in an interview, your ability to build your network, and compare that to the kids that were successful. if 100,000 graduating seniors are wannabe bankers, and there is room for 1000 fresh fish this season, are you willing to bet the farm you'll be one of those 1000? to the extent that you throw out all other options? it certainly happens that non-target dreamers busting their ass occasionally break in, and you may very well be that guy. but maybe not.
advice: consider alternatives to banking, especially in this market. IT consulting isn't sexy, but it's a job that pays fairly well and positions you for a number of potential moves down the road.
Take a break from the recruiting mindset because if you're like me, you probably got a little desperate at the end and that of course clouds good judgement.
Evaluate your options which are certainly not bad (1) take the IT consulting job and position yourself for an MBA (2) Commit to getting into a top MSF program. Just make sure you take a good look at yourself, do you have what it takes? Otherwise you're throwing out a lot of money and flushing a good offer down the drain.
Thanks for the advice guys. I should mention that even though banking would be optimal, what I am really looking for is simply something stimulating, be it commercial banking, F500, etc. I am very open to other industries.
The issue is that everything I read about IT consulting makes it sound like an awful place to be. It is possible I don't know enough about IT consulting. Would anyone be able to shed some light on this role? The specific group I was placed with deals with providing solutions for financial services firms in dealing with new regulations (Dodd-Frank, etc)
In addition, I know this has been asked before and after searching I couldn't find any straight answers, but what are the actual exit opps for IT consulting except for grad school?
Thanks for any help, WSO is essentially the only place I can reliably turn to with these questions.
You didn't mention which firm. If it's Big4, after a couple years you can potentially move around internally, possibly to the transaction group, and exit from there to VC, AM, PE, etc. If it's a pure IT shop, that limits you a bit more, but longer term exit opps are F500 IT roles. Regulatory, compliance, audit, project management, infrastructure, architecture, infosec, etc. You can also take the consulting gig for a few years, and try to get into a top MBA program. Since you go to a non target right now, you might need someone to tell you not to waste time and money on an MBA that isn't a top tier name brand. Even then, there are no guarantees.
Thanks djfiii, that's exactly my concern. This is in fact a more or less pure IT consulting firm and from the looks of it IT is not somewhere I can see myself at for the longer term.
As far as MBA, I've always been concerned that my non-target (40-50 ranked private) undergrad as well as a less than stellar 3.5 gpa, coupled with minimal on campus leadership experience could keep me from being accepted into a top 15 MBA.
So here is where my issue lies. If I accept this offer, I may be trapped in this industry for a very long time. My other option however is to keep applying and hoping something will pop up in the spring, a risky move. Considering I have received multiple interviews with only applying online this season, would boutique type firms or off cycle hiring be a realistic option? Or is the risk so great that I'd be better off accepting what I have?
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