In a dark place after failing in FT recruitment, need advice.
Hey guys,
The fund that I summer interned at is closing shop so I started the FT recruitment process a few months back for IB. From what I heard from mentors, the best way to get back into HFs is with IB experience; problem is that this FT cycle was absolutely brutal. My internship at a distressed HF did distressed buyouts so I had some experience with modeling and also being able to talk about deals and high level corp finance stuff. I got RX interviews at some EBs and also interviews with a really good TMT bank/group (Q/Allen & Co/GS). Also got some growth equity interviews similar to a (Insight/GA/Summit).
Currently sitting at no offers and FT recruitment is practically done. Now that CS bros are also looking to get out it seems there aren't any seats left; feeling real anxiety and not sure what to do.
For background I'm graduating this fall with a 3.8 GPA from NYU/UVA/USC type school, started my own fund in college (just 1m AUM) and ended up making and saving up ~850k all in (including from PA luck) which I have sitting in cash. Not too worried about paying the bills right now but very worried about my career. My fund manager spun off our HF's venture platform and I am currently working for that to avoid employment gaps; but it doesn't look like he's gonna be hiring anyone else other than a few of the original associates.
Could really use some advice; I'm feeling pretty lost. WSObros gave me some good guidance in the past; I think I just need some clarity and motivation. I want to make it to IB and in finance. I'm too hungry to give up now. I strongly believe in myself and my willingness to succeed.
You’ve got nearly $1mm in the bank and strong internship experience, I would try to be less hard on yourself, keep hustling/networking and things will work out
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You may have committed some slight money laundering
Probably the best post I’ve seen in this site