Getting rejected from everywhere
At a semi-target undergrad doing econ/finance with a decent profile and a spring week (no option to convert) and have literally been rejected from everywhere. London recruiting is so fucked tbh the only people I know getting offers are at Oxbridge/LSE.
I've had my CV reviewed by bankers and have been networking but I still get filtered out or I never hear back after the hireviews when others are getting ACs ffs.
Funny enough as much of a clown that giveadvice guy was moaning on here all the time he is right about recruiting being super elitist this year tbf. In previous years going to Bristol/Bath/Durham would be fine but now unless you're diversity or a woman you have to be at Oxbridge/LSE or you don't stand a chance.
It's absolute bs when you see a girl from kent uni or some absolute non-target get an 'S&T summer internship' when so many good candidates aren't even making it past screening.
Even the guys I know in IB as grads have said recruiting is ridiculous this year. How else am I meant to get IB out of uni? Seems like that door has closed and I'll have to accept some other lower paying job smh.
Sucks that your entire career trajectory can be ruined over one bad recruiting cycle. Chances of getting IB analyst after graduating uni are gone ffs. I'm actually so pissed off lads.
Take a deep breath, you’re going to be fine. Recruiting, and the job market overall, hasn’t been great for awhile for a variety of factors. Sure, you may not get into IB directly out of undergrad. However, that doesn’t mean you’ll never get a shot at some point. For reference, I switched careers multiple times and it has taken me years to get into IB.
If you want it bad enough, you’ll find a way. Stay positive and keep working brother.
I'm in the UK mate. I get that this site is mainly for yanks but the advice is different here. We aren't as lucky to have guaranteed MBA associate slots to take up if we mess up the first time round.
Even those that do finance master's are still competing for analyst positions and will always be second pick to the Oxbridge/LSE undergrads.
Literally everyone in IB in London takes the spring week to summer internship to grad job route. The ones that don't do off-cycles after a target finance masters. Going to the Big 4 and then lateralling to some absolutely no-name boutique doesn't count.
Crazy how even semi-targets can't even get a fucking first stage interview unless they are diversity or a chick.
Big 4 to reputable MM shops is very common here and not at all to be sneered at
Midwest banker, are you actually in the Midwest or nah?
You'll be fine. I go to a northern RG uni (non-target) and am going to an EB as a FT grad this coming summer - am a white male too, so no diversity. I did it by grinding, and you can too. Happy to help where I can
Good shit man. Would you mind to cover your journey (of when you started recruiting during uni, how you did it etc) and any tips along the way?
Sure —
I'm in the final year of a 4 year degree (econ + language with year abroad), which helped me out. At the end of my first year, I realised I wanted to go into IB (before that it was "something in finance" lol).
I applied to every spring week under the sun and got one at a Big 4 and one at a BB. Converted Big 4, not BB.
I then applied to 85+ summer internships – mainly in IB because that's what I really wanted to do, but also in a few other related fields – and ended up getting an offer for a LMM/MM M&A shop this past summer.
Recruited up for an EB and that's where I'm going now.
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It wasn't a perfect journey, and were I to go back in time I would certainly have tried to find something for the summer after 1st and 2nd year, which is what I would recommend anyone do. I would also advise people to consider something like a remote search fund internship or something, just to have SOMETHING on your CV. The worst thing possible is to have nothing relevant on your CV at all.
How did you do this? Isn't it too late since most internships have closed in November or are there still ones that will open for mid market firms? Did you network and get a referral? How??
I did a small bit of networking but for me it was about having a solid CV down and shooting my application off anywhere that would take a look.
I'm also recruiting for SAs - I would usually be against the view you're taking in blaming the elitist IB culture and how it hinders non-target recruiting, but having been to a few recruiting events I do get your view.
I've been to 5 in-person networking events - I still haven't met a single person who isn't Oxbridge/LSE/UCL/Imperial/LBS. Maybe with the exception of King's and Bocconi as well.
With that said I have a lot of friends from St Andrews who have done very well in recruiting this year despite being form a semi-target background. Another mate of mine from Bath/Bristol did a PE summer last year, then BB summer this year (which he converted).
From what I've experienced Oxbridge and LBS are the only unis that can get you past screening from the university name alone (alongside some experience). Other than that, I know so many people from LSE and UCL who aren't doing well in recruiting and that will obviously boil down to the CV and quality of experiences you've had before. Someone who went to Bath and did a summer internship at a regional corporate finance boutique and has leadership roles in the investment/finance societies will have a much higher chance than someone at LSE who is relying on the LSE name alone. Bare in mind that most BB CV screening (and probably EBs) is done fully by AI and the only filtering I've ever heard is filtering out non-Russel Group universities. From which point your CV is the only thing that matters. What is your profile?
Filtering out non–Rusell Groups is so brutal; they apparently don't consider those in niche non-target programs that are more competitive to get into than most Russel Group programs.
I can add my two cents: I managed to secure an AC at a boutique through sheer luck.
The issue is that SA applicants will often do a 3 year course, do a spring week (SW) in Year 1 and then try to recruit for an SA role in Year 1 or 2 (often, PwC Deals Summer Intern or equivalent).
Then, they will make their course a 4 year course, reapply for SW in Year 2, do an SA in BB. By year 3, they already got several SW and a BB / Consulting internship on their CV which is on-par with a LBS master's student.
It's unfair but it is the game. My goal is to secure the boutique SA and re-recruit through an SA or OC as this has been performed reliably in the past. I think GS allow for final year students to apply to their IBD SA roles going on past LinkedIn data.
It's an unfair game but you gotta get what you can for this summer even if it's a MM name and use that to apply for FT / OC roles.
One advice: MS / JPM / GS allow you to apply to 3-4 different roles. Even if it isn't IBD, choose the other roles carefully based on a mix of interest and chances of success. Try applying to risk, ER, S&T, AM or WM. It's a strong chance that many have fewer applicants so they are easier to succeed in. Then, use that as a way of lateraling into IBD as an OC (especially for S&T or ER) if you can secure it at a reputable BB.
Giveadviceplease guy is back at it
At a non target and I’m seeing ppl get success with IB (All but one is diversity tho). But I have seen ppl get top BB mo, maybe try aiming for that and lateraling?
Adding my ten cents- I am at a target uni for undergrad (in my second year), and lots of my friends at my university are not doing well for SA25 recruiting as well despite having first year summer internships in IB/PE or big4 in home countries. Most of us haven’t had any interviews for BB/EB. Only final year applicants who did boutique IB MM IB summer or BB in AM/CB etc are doing ok this year.
OP, it's already December now - do you have any good news?
Even though I will finish my undergrad by June 2025, I was able to delay my graduation until December 2025 in the UK. I was lucky enough to secure a M&A Summer Internship in London at a solid MM bank - however I really don't want to convert at this firm. Do you know if there will be any apps for OC's in late 2025 or early 2026 (or FT 2026) at BB/EB before the SA actually starts?
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