Job Market Search - White Collar
Hi All,
Is the job market still god awful or is it just me? I have had about 50 first round interviews and only 4 final rounds and still got dinged. Not sure if I am screwing up in these interviews or struggling on the modeling tests. I have an T20 MBA and recently graduated. I've been working full-time at a job (since the beginning of the year) that I was using for just a paycheck in a role that I don't want to be in long-term. If this is happening to all of us how long will it take for the interest rate cuts to increase investment banking and real estate hires?
I am aiming for a couple of sector, which are interest rate sensitive:
- Investment Banking
- Real Estate
- Power / Infrastructure
Based on the most helpful WSO content, here are some insights regarding the job market and interest rate impacts:
Job Market Conditions:
Interest Rate Cuts and Hiring:
Sector-Specific Insights:
General Advice:
For more detailed discussions and advice, you might find the following WSO threads helpful: - https://www.wallstreetoasis.com/forum/investment-banking/advice-for-inc…</a">Advice for incoming IB/M&A analysts in the midst of a likely recession - https://www.wallstreetoasis.com/forum/investment-banking/do-investment-…</a">Do Investment Bankers get laid off during recession?
Stay resilient and keep pushing forward!
Sources: JP Morgan Officially about to Cancel Summer Internships and Freeze Hiring, Advice for incoming IB/M&A analysts in the midst of a likely recession?, how long will this hiring boom last?, Possible Recession?, Do Investment Bankers get laid off during recession ?
Awful for everyone, not just you. A lot of competition for all of those roles.
Are there any bright spots or any sectors that hiring? Does anyone here remember recruiting during and after the financial crisis of 2008-2010? Was it this bad even after lets say 2010 to 2012?
Even the 'bright spot' industries aren't doing as great as it may seem. Recruiting for healthcare as a recent MBA grad (similar rank school as your) and there are very few 'quality' jobs out there in that space especially if you don't want to work in specific environments (hospitals or large corporations for example).
I personally saw a huge uptick in outreach / interview invites in late July to now (my inbox blew up in early September with a bunch of low quality recruiters). I just haven't converted any offers yet but made it far in 3 processes so far (still in the running for 1 of them, 2 months = ~15 interviews total for 5 companies). I only had 2 interviews from mid April - mid July, it was very quiet. Interest rate cuts are good news. I did recently speak with a C-suite exec through an alum that's at a PE backed company. They're expecting to hire some manager level folk in Q1 '25. With the elections / end of the year closing in, it does seem like many MBA grads from 2024 who are stlil unemployed might not find work until January / February.
EDIT: Also want to add, it might be time to look for part-time pro-bono / contract work. I sent 2-3 cold emails this morning and plan to send out a handful early next week. Hoping to keep myself busy so I don't feel guilty holding out for the 'right' roles. Might be worth your while. I technically am working under a family business LLC right now but it's irrelevant to my career goals / target industry (not putting it on my resume).
Just curious are people still struggling to find a quality job that is either 6 figures or a good post MBA job?
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