New Grad Seeking for Entry into Finance
Hi! First time posting on this forum and a little nervous. Currently, I am looking for some advice on how to get my first job in finance. Specifically, what materials to review such that I am somewhat prepared for interviews from different subdivisions within the industry.
As for my background -- I graduated in December from a top target school w/ a 3.7 GPA majoring in economics and minoring in statistics. I didn't participate much in recruiting during college because I came from an underprivileged background and developed a low sense of self-worth as well as imposter syndrome. I even took a gap semester near the end of Covid to work on my mental health but that didn't go too well. As a result, although I did intern for different places during my past summers, I only have one finance related internship which was in wealth management. The internship did offer some exposure and I enjoyed thinking through different financial concepts, but no serious modeling or anything like that. I know my prospects aren't great especially being a new grad but I'm not asking for an analyst position in a BB either. For so long, I've given up before I even started and I want to give myself a chance despite these odds. Hope to get some constructive feedback, advice on how to secure a job soon, and maybe even a mentor! Huge thanks in advance ~
bump :(
Sorry to hear about your situation and totally understand, have been there myself countless times throughout the recruiting process (which can be complex & tricky to navigate). First of all, the bad news: the FT market is absolutely nonexistent at this point in time. I can attest to this personally - did SA -> received FT but am actively looking to lateral and have been sending emails, networking but all paths are leading to a dead end. Vast majority of banks overhired post-2020 pandemic and are now looking to layoff employees and reduce costs. So a lot of FT analyst classes starting in June are filled up with very little to no spots. If you want further proof of this, you can just check out the 2023 FT thread in this forum and see similar viewpoints from students looking to recruit FT as well.
Now the good news, you have graduated from a top target with a 3.5+ gpa, and a strong major/minor. I believe that with some targeted and efficient networking, it should not be too hard for you to land some informal interviews, or find yourself in some off-cycle processes for regional boutiques. I have seen some openings on career sites, LinkedIn, and job boards for some boutique firms - now while these are relatively no name, there will definitely be strong opportunities to lateral for early brand name on your resume if that's something you care about (I have also personally seen friends lateral from no-name boutique to BB/EB). You already have some internship experience so that is a plus (anything helps). I would look at building a strong resume highlighting academic experience and then to start networking to local boutiques in your area, which can be found through a quick google search, sending some cold emails, maybe even setting up meetings with your career office to see what finance-based roles are available, can even be BO/MO, anything to just get your feet wet in the industry (who knows, you might even enjoy that more!).
Once the market picks up, assuming you have some finance-oriented gig, you should be able to craft your story and experience to get some interviews at BB/EB spots maybe in the fall/early next year. In a traditional market environment, analysts/associates tend to leave in large numbers from banks, but obviously in this abnormal market, given there is little to no hiring, people are pretty much forced to stay in their seat (have literally heard anecdotally from analysts who hate their lives but can't find any opportunities).
Sorry for the long post, but feel free to PM. Keep working hard and I'm sure you will find an opportunity.
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