Help pls:-/
Hey, just posting for advice because I'm super super lost and have no clue where to go from here.
Quick profile - target school in the UK, did an SA in IBD at a Jefferies/RBC/BNP type bank last summer(no return though). Sadly just got my degree classification results and found out I got a 2:2 (was a near miss, was in what was classed as the borderline but very very narrowly missed one of the criteria for borderline cases to be uplifted to a 2:1).
I know I didnt study as much as I could have but not cuz I was out partying, more just lack of proper planning and time management as well as really horrible focus issues leading to super slow work and exhaustion/unproductivity after very little time. Just wanted some advice on where to go from here.
One option I was thinking of was doing another bachelors degree perhaps somewhere abroad in another subject. If I were to do that and gave an appropriate reason, would it be enough to completely rule me out when recruiting again(was toying with the idea of switching to a degree like PPE/Law and assume I try to recruit for some sort of consultancy/law firms) ? Or would you guys think that trying to get into some masters is a better way to compensate?
Another point i wanted to ask your advice on: before embarking on this, I was thinking of taking a year out to apply for more finance related roles and internships with my current degree(since that is what i have experience in) just in case somewhere somewhat decent will let me slip through, so wanted to ask if it is realistically possible to start a somewhat decent career without a 2:1 and what sort of firms/roles I could potentially target? Also anything else I could do that is somewhat useful during this year would really be appreciated because I didnt manage to get anything lined up for after grad(plan before was recruiting for IB/ER OCs and then doing a masters at top uni the following year but obviously cannot do any of that now 😅) and dont want to keep wasting my time(
Thank you:-)
First of all just want to say I'm sorry to hear about this, especially with COVID-19, strikes etc. the past few years have been sh*t for students and to narrowly miss out on a 2:1 is never a nice feeling. On top of that, don't be disheartened about the return offer, the market at the moment is brutal with banks laying off tons of people and taking on even less. The mental issues you described sound to only have made things worse and I do feel very sorry to hear that.
My two cents on this would be you have a few options depending on what really appeals to you, ultimately only you can answer the question of what suits you best currently. In my opinion, it's not worth doing another Bachelors in the UK, it would be 3 more years of debt and probably not at a target school meaning that it might not be seen great, plus the 3 years extra debt. If you want to take the education path, I would recommend trying to do a fast track masters at your university. I've known a fair few people in your position over the past 2 years who have ended up getting grades they didn't want and due to already being at the university, they allow you to stay and do a masters. What that masters can be in depends entirely on what spaces they have/what course you do/negotiations etc. which I can't really comment on without much more context. But I think if you wanted to do a masters, this is the only way I could see you doing it and it being worthwhile
I get the feeling you don't really want to wait 3 years and do uni all over again, in which case I would say look at applying for jobs in the OC starting in January and next year's SA or FT roles (depending what you want to do). Your SA role is a great point of experience and you did a great job getting it, people know the market is brutal right now in regards to FT offers. I would say that the 2:2 does count against you unfortunately, but honestly after you land a FT offer, no-one cares about your grade anymore (this may just be my experience but everything I use I learnt on the job despite doing some MBA-style finance modules in my final year). Cast the net out as wide as possible across things that you are interested and potentially lower your expectations. Unfortunately I think BB and top firms will be out of the running for you, unless you apply for very niche positions but even those are very competitive. I would look further down the rankings of firms in the areas that interest you. You mentioned IB/ER which I think might be very difficult to get into, unless you look at boutiques which I think would be doable given your experience if you are a strong candidate in the psychometric tests and interviews, which it sounds like you are if you got that SA role. If I was you, I would broaden my horizon to more firms and places, and just keep applying to see what you can get if you're keen to get stuck into work.
I have no knowledge about law conversions or any of that I'm afraid so can't help you there :)
These opinions are purely my own just from my experience and friends, and I'm sure others might say others things but that's what I would recommend based off what you said. I can imagine its rough how you're feeling right now but try keep positive, it's a blip in the road but you have good foundations to build off. Apologies if this was blunt in places, just wanted to give it to you straight. More than happy to give more advice if you like!
Thanks so so much for the full reply:-). Will def check out the options you suggested especially the masters at the same uni if it's in any way possible....but just a couple quick notes on the 2nd undergrad just to see if it changes opinions. I probably would apply to do it in a school outside the UK with good reputation but much lower entry requirements/test based entry requirements like the top Dutch schools - UVA, Erasmus, Leiden or other places like St Gallens/Bocconi maybe though probs a stretch.....me/my parents would fully finance it so the debt/costs arent an issue. I personally dont mind redoing another 3 years and only starting my career at 24/25 at all but obviously only if it would increase prospects and maybe give me some sort of shot at top firms again.....(still not sure if I would even apply to finance related stuff again or take a whole new route if i could do another undergrad though but that's a diff question)
So my question is basically if it could increase prospects in this way or whether no firms will look at me after all this even if I did a 2nd undergrad in which case it's not worth it.
(it is a bit sad because honestly I'm not great at interviews haha but when I applied for SA etc I just got a bit lucky by being loaded with so many interviews from BBs/EBs/MMs/even PEs that I could afford to mess up many(and I went mental with mock interview prep too w friends lol) and still end up with something but I'm sure I will no longer get those chances again)
But thanks again:-)
Ah I see what you mean now. To be honest I would agree with Reform's comment below which is try get a masters somewhere if you're thinking along those lines. I would call up/go in person to your university and ask to do a masters in a few fields you find that appeals to you. This I think would be much much better and probably less stressful than trying to get into Undergrads abroad and probably not getting a great course this year due to it being fairly late. The masters as well would help blow over the 2:2 if you can get into a decent one and get a good grade. It would also be better than doing a second undergrad and like I said, already being at the uni gives you a fast track advantage. I know people at targets in the UK who have gone from languages or social sciences into top business schools through these schemes, it's very possible. The exact field is up to you, if you enjoyed some of the IB work then maybe stick with it, I can imagine it might have a bit of a sour taste still but IB is incredibly difficult to break into.
I would just say, if you had difficulties this year doing finals, would you solve these by the time you do it all over again? It sounds like exams cause you a lot of anxiety and stress, masters will be the same but tougher. I think that's worth a thought if you consider doing this, but if you're happy that would be my opinion! If you want a crack at those top firms, you need a masters at a top school or experience. I can't give you a definitive answer on what would be better as that would depend so much on the later stages of the hiring processes and roles, but those would get you in the door I believe.
Don't lose faith, as I said after you stick your foot in the door, no-one cares about grades. Every company is looking for second jobbers, people with experience, it's just about getting that first stage which you are halfway there already. :)
I agree with the above comment.
However, just a small note, with you saying that you find it hard to concentrate and have poor time management, could this have been a reason for the no return offer? Like said, the 2:2 does count against you and no return offer could also be taken negatively (even if it was just because of the macro environment).
The best action would be to aim for a masters to give you another chance at OC and FT next year, especially if at a target.
how did you get all those SA interviews?
Funny how that's what you took away from my thread haha, but I would say I had a decent profile when applying last year for a 2nd yr ug (target school, European language, 1st yr work exp at a n IB boutique I cold emailed, nothing spectacular but still decent ECs(1st team at university major sport, and a couple other random stuff like instruments etc that I did as a kid). But I do admit that this year is a lot tougher and last year the recruiting environment was different too. Got fewer interviews from the IBs earlier this year when I re recruited even with my SA in IBD at a major bank so it is the market too(maybe also because I didnt convert though)...
Was it Jefferies? Heard their conversion last summer was 60%.
Also I think some of the Big 4 got rid of their degree grade requirements.
Brah dw. I scrapped a 2:1 from a non-target and started at a BB many years ago. I noe work on the buyside in a Tier1 US Shop making £300k-400k. Sometimes it is just a matter of luck and once you get some experience under your belt, no one cares about your degree or uni.
Wow that's impressive:-), but if you had even narrowly missed that 2:1, I feel like it may have all gone completely differently right? Since practically every somehwat decent grad job needs a 2:1....What was your path immediately after uni like if I may ask?
You need to start writing more concisely if you want to be a banker/consultant/professional (can't even see what you're applying for here) - even for people who're keen to help and advise this is just too long and incoherent. If your question is about a 2:2 then depends which target you went to (i.e. is it Oxbridge or something else). I got a 2:2 (almost a 3rd, not anywhere close to a 2:1) and have friends who did the same: none of us had any trouble having interviews with MBBs and US BBs in London after graduating and providing the achieved grades on our apps (all 3 cases I know of, including my own, had Oxbridge + top extracurriculars + good internships, such as yours).
TLDR: just apply and make sure rest of your CV is up to standard; not a massive problem if you're at a true target. Masters is irrelevant for UK recruiting if you have a top undergrad (and completely irrelevant for consulting in general no matter what; could save an average undergrad for banks though)
Ahaha yeah fair enough, tbh I dont usually write like this, was just unsure what exactly I wanted to ask about when making the post. Just sort of blurted it all out hoping people would identify some of the key points and lead on with some sort of advice. But will try and shorten it so it's easier for future readers haha
Firstly, your post is too long and so hard to read.
I would apply mid-market PE off-cycle and try to convert them. PE firms usually don't really check grades, etc.
The other option would be to apply MSc in Finance / Management overseas. Better compensate with strong GMAT, I know some good Business Schools don't really care about grades
Thanks a lot for the tips! Any specific schools/countries you were thinking of? But surely for MM PE funds even if they dont formally check grades, I still need to write something under my uni education on the CV and if not, will be grilled about it right?
Ea voluptas iste similique porro et harum explicabo. Dolorem fugit quo voluptatem impedit facere et voluptatem. Temporibus minus tenetur eius iusto maiores harum consequatur. Natus velit totam nam ab vel eos.
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...