Frustrated - seeking advice
I’m going to try to keep this relatively brief because I can’t imagine that anyone really cares.
I went to a non-target but reputable university and had a relatively typical college experience until I was hit with some health problems. The issues consumed my life and completely derailed me. Although it was hard, I fought through them and they taught me a lot about myself. I learned about my drive to succeed, to push myself to the limit, and maximize my potential.
After getting fully healthy, I began working an internship where I was able to gain experience in valuation, advisory, and serving clients. It wasn’t IB but it was the closest thing I had up until that point and I really enjoyed my experience. Truthfully, I worked really hard there and got a lot out of my experience.
I was able to work that internship for the remainder of my undergraduate career. The workload was heavy as it was essentially a full-time job on top of my academics and extracurriculars (I don’t want to be too specific on here) but I loved the grind. I loved working late nights and early mornings because I felt like I was finally pushing myself to realize my potential.
After having this pretty major perspective change, my first foray into valuation which I really enjoyed and a desire to achieve, I’ve made the decision to pursue an analyst role at a bank.
Over the last few months I’ve been applying to tons of jobs, working on technicals, building DCFs / merger models / LBOs on my own (etc), and emailing people in the industry. Unfortunately, I’ve had basically no success. I’ve even reached out to some head hunters via email but haven’t heard back.
I’m not going to give up and I’m not going to stop trying because I know that I’ll knock it out of the park once I get my shot. I firmly believe that if I keep showing up, doing the right thing, and trusting the process that it will workout in time. In saying that, I am a slowly getting frustrated so does anyone have any ideas for me? Anything that I should be trying? Thanks.
This is a really tough time to land a role in IB – there are a limited no. of roles out there and most of those would be for those that have FT experience in IB (i.e. laterals). By its very nature, the industry loves hiring and firing people as the economy ebbs and flows. I would suggest networking and keeping yourself sharp - the moment the industry picks back up, a lot of FT opps. should pop up.
Have you thought about continuing to work in the role you worked in during college, FT for the time being? That could be an option.
Thanks for the message. Although I spoke with some of the folks over there about a FT, the firm doesn’t hire people straight out of undergrad, just associates and up. I was very lucky to even be given the opportunity that I was.
Echo the suggestion above with one addition, try going a bit broad with your search in adjacent profiles - Corp Dev / Strategy, ER or may be even FP&A (more focused on planning or budgeting rather than menial ones) - idea is show you have the right kinda experience to jump in to IB while waiting for suitable oppo.
Hang in there.. am in a similar spot though am lateral.. market is extremely tough unfortunately but bankers continue to mention those elusive green shoots…
This US steel situation is a positive indicator IMO..
I appreciate the advice and will definitely look into some roles to give me some relevant, hold-over experience.
Second this.
Every time markets contract like this, the industry expects that young talented people are going to settle for adjacent roles. Then when you want to get into IB a year or two later, they understand why you took a step down under the circumstances. They'll even credit the service time if you can be convincing that you learned relevant skills in that role.
Alright so that’s a relief. It seems like most corp dev roles aren’t open to people without experience, is ER the best way to go for someone like me then? Then potentially a solid FP&A role if I can’t find something in ER?
Yes all three of those (corp dev, ER and FP&A) are roles where you can lateral into IB later when things pick up. I hear you on corp dev not being typically open to new grads. I recall some exceptions but yeah that’s basically right.
Similar situation
Qui reprehenderit et illum omnis eaque ab qui. Iusto vel atque tempore nam doloribus voluptatem quia. Iste dolore ipsam assumenda magnam et.
Cumque et qui exercitationem eligendi ex fugit hic. Error et deserunt sint delectus ipsam ut nam. Laudantium blanditiis a deleniti delectus aut fuga neque. Sit sit aliquid beatae placeat aspernatur corporis. Cupiditate aspernatur illum assumenda aspernatur laborum nesciunt quis. Consequatur eum qui aut in nulla doloribus ullam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...