No offer
Failed to secure an offer this cycle (had 2-3 interviews but didn’t convert). If I’m set on IB, what are my options aside from extending graduation? Should I target regional banks, or what other roles (FP&A, etc.) should I prepare for? Thanks.
If you're set on IB but didn't secure an offer this cycle, here are some actionable steps based on the most helpful WSO content:
Target Regional and Boutique Banks: Start networking aggressively with regional and boutique banks. These firms often have less structured recruiting timelines and may still have openings. Focus on building relationships with alumni or professionals in these firms to secure interviews.
Consider Valuation, Big Four Transaction Services, or Corporate Finance Roles: Roles in valuation, Big Four advisory (e.g., Transaction Services), or corporate finance (FP&A) can provide you with transferable skills and a strong platform to pivot into IB later. These positions often involve financial modeling and analysis, which are highly relevant to IB.
Asset Management or Equity Research: If IB isn't immediately accessible, roles in asset management or equity research can also serve as stepping stones. These positions allow you to develop a strong understanding of financial markets and investment strategies.
Leverage Networking: Continue networking relentlessly. Use LinkedIn, alumni networks, and cold emails to connect with professionals in the industry. Focus on building genuine relationships and seeking advice, which can often lead to opportunities.
Prepare for Full-Time Recruiting: Many banks open up full-time recruiting later in the year. Use this time to refine your technical skills (e.g., financial modeling, accounting basics) and behavioral interview responses. Resources like WSO guides can be invaluable for preparation.
MBA as a Long-Term Option: If you don't land a role immediately, consider gaining experience in a related field and then pursuing an MBA from a top program. This can provide a strong pathway into IB at the associate level.
Stay Persistent: Remember, many professionals in IB didn't start there directly. It's not the end of the road if you don't secure an offer right away. Focus on roles that build relevant skills and keep your long-term goal in mind.
Good luck, and keep grinding—you've got this!
Sources: graduated may 2019 and recently laid off first job, If I don't get a banking offer, what's the next best thing?, Exiting Big Four (Audit) after 5 years and entering FP&A - Ask me anything, Accounting vs Finance: Part 1 – Career Paths, Advice for SAs who didn't get return offers
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