Family problems only have me looking for Internship now...
So, long story short, a few months ago I had a major death in my family and it really messed me up. I didn't care about school, work, anything. But, as many have told me recently "Sometimes life gets in the way of things". So, now I'm trying to get my life back on track. I'm a junior, 3.65 GPA, relatively non-target, had a PWM internship last summer (that my former boss has promised me I can have again If I fail to find anything). I know its too late for an SA role, so I'm not really sure what else there really is to do (and I'd really prefer not to do the same internship again this summer, but beggars can't be choosers).
Any advice would be extremely appreciated. Thanks guys.
Still opportunities out there, keep looking. not sure what help you're looking for?
Sorry, should've been more clear. My whole plan I had (and that many go with on this website) is PWM internship sophmore year and then an analyst position for junior year summer. Since all the BB are done with recruiting, I was wondering what would be the best route to go next, 1) Are boutiques still looking 2) How bad would it be for my future job prospects if I kept the PWM internship vs. getting a better internship now, etc.
Check your head first. If you're in good shape, GOOD, I'm happy for you. If not, take some time off and go back when you're ready: you took a major hit and are in a different class of 'story' than the asshole who drank his time away in college. There are stupid people that don't want to "get that" but most people understand that this is a major event: ignore the "Job's comforters".
Look for off-cycle, part time, local, and boutique internships. There's a whole universe of alternative paths to get yourself on the radar. Cast a wide net and use everything at your disposal
You're still in good shape, just keep networking: there are still openings if you look hard enough
Worst case, get an MSF at a strong program after school. It's one year on average, and you'll get another crack at recruiting with stronger credentials. A lot of people do this with great success, but make sure you understand the ins and outs BEFORE you go into the program.
FWIW, I had fucked up family stuff to deal with years ago and people have been very sympathetic in light of how I recovered from the damage done to me (and the damage I did to myself). Never expect sympathy, but realize that there are a lot of people who had this thing called LIFE happen to them as well, and will take a shine to people that overcome it, whatever 'it' is. Just make sure that your head is in good shape, I can't stress this enough.
I like you UFO
I can definitely sympathize with your situation, despite my experience being slightly different [no family issues, but other things cropping up]. That being said, there are a lot of random opportunities out there and some that you can make for yourself. I'd recommend some of the following strategies and despite being a lot less attractive than the well-trodden IBD SA to IBD FT to PE etc. path you will most likely end up where you want in the intermediate term.
Network and reach out to regional boutiques [think around your school, hometown, etc.] and craft a good story. Along with doing this you'll probably realize that some boutiques have structured intern programs and some do not. Either way since you're a little late to the dance you need to make an impact and demonstrate why you would offer some type of benefit to the firm. For example, if a firm doesn't offer a structured internship position yourself with their logic in mind; they won't have a lot of time/resources to train you and they don't want to bring on someone on the whole would actually offer a negative ROI [meaning they have to spend more time/resources or w/e on getting you up to speed than you would offer in return].
Still network and reach out, but start to look for non-IBD positions that may still be open: F500 Corp Fin., FLDPs, business analysts, any type of FA role where you'd be exposed to forecasting/projections, accounting, finance etc. Really looking to find an experience that says: 'hey it wasn't IBD, but I have transferable skils'. With this in mind, keep in mind how you will be perceived come FT-recruiting and how you need to be positioned. For example, you manage to get an F500 role as a regular FA; once you are at your internship look or make it known that you want to do projects that feature cash flow modeling or something, capital allocation, ROI analysis. Even take it a step further and network within that firm with a corporate development team and ask for a few projects or something outside of your line-of-business [if its okay w/ your supervisor].
If nothing productive happens or even if it does, keep your mind open to an MSF. If you are dead-set on doing banking and not waiting around till an MBA opportunity [which is a fine strategy, if you have patience] consider an MSF. Despite it being one more year of school it is a good opportunity to get re-branded w/ a target and access a much more robust alumni network. You'll even have OCR, but again networking would be essential anyways.
Hope this helps.
Full disclosure: Nothing worked out for me, despite the fact that I checked all the boxes except for being at a target; sometimes things won't go your way. Be prepared to roll with the punches and take one or two on the chin if you really want to make it. I can't underestimate the 'mental toughness' aspect of breaking in; a lot of people say they want something, but not everybody has the patience or endurance to follow through with it. I don't mean mental toughness as in being able to run 800x miles and still smile and grin, but to experience rejection after rejection after rejection. It wears on you, but you've got to pay your dues and I'm certainly paying mine now. For every success story you see on WSO remember that there were probably hundreds that didn't make it; don't believe that luck will be on your side.
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