Homeless if no job by January/Can't find the right fit anywhere/2025 grad
Hello chimps, here because I need brutal advice from strangers. I'm struggling to break into areas of financial services, and I'm stuck in an awkward spot.
Here's who I am, professionally: 2025 grad from semi-target undergrad. 3.3 GPA. I worked in TAS last summer on a team focused on private credit & PE services. It was a fantastic experience (super lean team so I got thrown right into deals from day 1), but the firm is on the newer side and is not a recognizable name, so for all I know, people could be seeing it and thinking this is a bullshit internship given by a family friend. I also did equity research and portfolio management for our SMIF on campus ($2M portfolio), I founded (and then sold off) a business, and in general I am a very ambitious person.
I would love to get into the buy-side as I worked adjacent to it last summer, but I understand that I'd be skipping the vital step of the sell-side. Here comes the problem, I haven't been able to land an interview for a FT role (makes sense, given GPA and slightly related experience) on the sell-side. I have interviewed and made it to final rounds in AM at some great firms but haven't been able to make anything happen yet. I also had my brief BCG stint where I made it to the final around but wasn't able to make it happen.
I am confused and would love advice as to what routes I could chase with my background. I just want an opportunity, as I am ambitious to get started and it feels like I've hit a brick wall. On top of that, my parents dropped the bomb on me that due to my mom's promotion, they're moving to Europe in January, which leaves me humorously homeless if I can't find a role by then.
Can anybody suggest specific areas of the industry I could be a good fit for (and be able to land a role in)?
Your mom gets a promotion which requires them to move to Europe and they can't at least hook you up with a room rental in NYC (plenty for sub USD 1,500 a month) in the worst case you can't find something by then?
My parents haven't helped me with a single red dime and I was on the verge of being homeless a few years ago - I literally had 1 month or so of rent and daily expenses left before I would need to max credit cards etc. Pulled through in the end as the pressure mounted - he will be fine.
"A few years ago" versus now, when many college grads with great internship experience are still struggling to get jobs.
I'd love for that route to be available but unfortunately its not. The way I am seeing it is that if I can't break into a role on an investment-focused area by November, I will have to start looking for Client Service work at BD's or RIA's and work my way up/out from there. I have SIE, 66, and considering taking CFA Level 1 in February (yes I know that CFA wont get me into any doors in todays world).
Well you have to be even more realistic.
You're not going to suddenly get a "Client Service" role at BDs or RIAs in only 2 months of search, going off your target of finding a role in an "investment-focused area" by November.
Focus on applying concurrently for everything, even throw some retail jobs in the mix.
I forgot to include it in the post, but a few months ago I came across an offer for Client Service at a large bank and decided to decline it as I had different ambitions. Either way I appreciate the realism and honesty.
Right, and at one point I turned down a role in IR at a macro hedge fund and years later can't land an offer, with even more experience.
There are people with higher GPAs, as good/even better experience, who graduated this year from target schools who are struggling to find roles. It's a horrible hiring environment.
Doesn’t seem like you’re cut out for the industry tbh…
Iron sharpens iron brother
Why didn’t you get a return offer from your internship?
How many jobs have you applied for?
Where are you looking?
Firm wasn’t big enough to open up a full time role, and they explored bringing me on on a contractual basis but I cannot start off my career like that.
Cold apps, probably over 200. Warm apps around 35-40. Ive made it to maybe a little under 10 final rounds, 5 of them being at firms like JPM, MS, all for different business functions.
Exploiting my credit experience, so looking into that within AM or smaller private firms. Currently doing as much networking as I can for a role like Business Development at mid sized PE shops in my area (there are hundreds where I live), and getting good traction in credit asset management currently, so I hope I can make something happen. My technicals are sharp enough for lower tier banks on the sell-side, but having a hard time getting an opportunity to interview as I said earlier.
Only offer that I had come in was the Client Service at a BD (before my situation changed, so I declined).
My biggest question to everyone here is what I can optimize, and what route I should be pursuing to find the best fit between what I can achieve, and what can be beneficial for starting out my career.
Have fun in Europe.
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