May 2023 Grad Still Unemployed
Any thoughts on recruiting for IB positions that start in 2024 summer? Struck out for 2023 recruiting and graduated unemployed. A lot of 2024 jobs require Dec 2023 or spring 2024 grads. How should I approach this in applications? When applying online do I lie and say I am going to graduate Dec 2023? How about on my resume? In networking calls im planning on saying I already graduated. For background, did a 6 month banking internship at a boutique (never expected a FT offer with this deal flow)
bump
You unemployed too? It’s tough out here
Yes. I know many graduates that are in similar situations who have exceptional backgrounds. I think the '20-'21 hiring spree was bad for the '23 and on class to believe they will all get into IB if they just stayed persistent. Many people kept recruiting up until graduation but failed to realize the market has not come back.
You'll fail the background check and get your offer pulled if you lie about your grad date, so 2024 is out.
Not to be rude but what was your plan here? Even in non-finance jobs you really need a job lined up before graduation... IB is really not a likely path for you right now, it recruits a year or more in advance. I'd recommend just getting any finance job - will likely be at a smaller company as most larger companies hire before graduation. If you want IB, get 2-3 years work experience and then do an MBA. But you are not in a position to be picky about roles or only be interested in IB right now.
No way… what if in networking interviews I mention that I graduated already but want to be considered for summer 2024 start? Trust me I tried recruiting for 2023 start but failed. I’m not very picky right now. I was just wondering if I would be able to recruit with those graduating Dec 2023/spring 2024
No. the rules are dec 2023 / spring 2024. maybe at TINY boutiques but generally there is no flex to this
Editing to add - by not being picky right now, do you mean not being picky about IB or about a job in general? Realistically your efforts should be focused on getting a job in finance, period. IB is really not worth spending a lot of time on given your current situation
Not directly related to your comment, but I got more offers right after graduation than I have after leaving jobs I had in the first year afterwards. So, in essence, fresh graduate w/zero experience = good, one year removed with half a year of experience=bottom of the resume stack. Should have just stayed the extra year (speaking about school, not any BS job).
The job market in general is highly regarded right now. Resume screening, interview processes, all of it.
Had a very nice HR person ask “what makes you interested in derivatives” recently. Again, very nice conversation, but JFC
I am a managing director at a MM full service that just got laid off, won’t get my bonus for the revenue I generated so far this year, got less than 1 month of severance per year of tenure, my associate and analyst also got laid off, have two children and a homemaker wife. Lucky we decided to vacation by taking the kids to see their grandparents this summer (instead of Disney and Bahamas like last year) and don’t live in NY.
Best of luck to all of us.
You mentioned not in NY -- any chance in Florida? (We have offices in NY and FL, and we might soon be looking to fill a senior level position).
No, but thanks
Dw just keep applying to everything, practicing for interviews, and networking. I was in a similar situation a few years back where I tried really hard to recruit while still in school but struck out and graduated in May with nothing lined up. Ended up doing a Corp Dev internship in January the following year, then a temporary 1yr contract, then another internship, before finally joining a grad program at bank.
Started the grad program quite a few years later and older than my peers, but still made it at the end of the day.
Can I PM you? In a similar position
hey, exact same boat with target school + multiple buyside internships. been a tough time for me and my family financially, but all we can do is to keep pushing and a good opportunity will come eventually. have had interviews here and there, some with desired roles and others with not-so-first-choice roles. im assuming that things will slow down a bit this month for the holidays.
how have things been on your end so far? please feel free to pm if you wanna talk or anything.
anyone else still actively recruiting? as we approach the holidays, i guess we can just stay positive for opportunities in q1-q2 2024?
Things picked up a bit for roles that want to be filled before year end. Most are mid office though. I’m not sure what the next step is, but I’ve been doing a contract back office role that ends in January. That’s been holding me up financially. I’m not sure if I’m dumb/crazy to wait for good opportunities as opposed to just accepting a job. I don’t want to start my career on the wrong foot. I’d prefer to do something I can use to pivot in the future at least - and I don’t think a BO/MO role will help with that
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