Please provide guidance/reality check summer internships
Hello Monkeys & Chimps,
I would really appreciate some guidance or even a harsh reality check. (IB/PE/Consulting - London)
Previous/Current academics:
I completed my BSc in Business & Law in 2019 from a non-target and am now pursuing a MSc in Financial Markets & Investments (in Paris, France) in what I was lead to believe was the "3rd best ranked" master programme pre-experience on FT. Soon after I started applying and networking, I realised that my university is at best a semi-target, and that is in France, I doubt it is seen that way in the UK.
I earned a 2:1 in my BSc and am currently predicted to graduate with a First (1:1) in my MSc.
Backstory:
My professional work experience is just over 7 years (outside finance).
- 4 years consulting at a small Ltd
- 1 year training contract at a top 20 law firm in London
- 2 years as a FM in real estate development (this was one of the main reasons for my career switch in addition to FX/Equity research/trading when I was younger, my MD was even the person that pushed me into pursuing this MSc as he saw I was extremely keen to learn and develop).
I am currently 25 and started working when I was 15 as most people I guess, I come from a quite low socio-economic background, so it wasn't exactly an option. My grades were the usual stellar performance up until A2, where I had a complete breakdown as full-time work/studying was getting to me, and I also had a big bereavement in the family which I believe contributed to my grades capitulating. Due to this poor performance in A2, I lost my conditional offer to pursue an LLB at Kings, hence why I graduated from a non-target with a mixed BSc. (I am not stating these as excuses, but purely background knowledge, it is completely my fault, and it was a huge life lesson which I learnt a hell of a lot from)
Current situation:
My main passion lies within PE and M&A/Consulting as I was constantly valuing residential development projects and also helping one of my directors with flipping properties (which I see as quite similar to LBOs) from a very basic standpoint. - I have no ego and I'm happy to start from the bottom and prove myself, and build my career up.
I currently have over 200+ applications for internships and all I have managed to secure is a (back-up plan) graduate Audit position at a "big four" starting in the summer. (That and an interview for structured products middle-office were the only 2 face-to-face interviews I was able to obtain).
I have been through my university career centre (which needless to say was completely useless), I have had numerous coffee chats from Linkedin/Emails and all I keep being told is that it is a numbers game, that I present myself very well, that my CV is to a high-standard (used WSO template and have a leadership section from medals/trophies in sports from my past) and that I should keep applying.
My biggest issue is that I pass and get high scores on the assessments (SJT, Numerical, Verbal reasoning..etc), but when I pass to the hirevue stage, I just never hear back, even when I am able to find the questions and prepare to my best ability, I still do not seem to hear back. I even got feedback on my answers pre-interview and the feedback was immaculate as I took 5 days to prepare as thoroughly as possible.
I am just completely lost on what to do at this point, I am sure I am making some huge mistake somewhere, but with the only feedback I receive being "thank you for applying, unfortunately..." it is extremely difficult to pinpoint exactly where I am going wrong.
A lot of my self-worth and value come from my career achievements, and I have exceptional recommendations from my previous employers, I have no issue with the long working hours as I am used to this from a young age, I mainly applied for mid/small-cap boutiques as I am not the biggest fan of the extreme micro-management/corporate culture, but I can adapt easily.
Apologies for the extremely massive post, I just wanted to be as genuine and as open as possible, so that I could really receive some good feedback/advice. Please be as harsh and as truthful as possible, any criticism is welcomed as it will be used to improve upon.
Many Thanks!
I have never seen someone from Skema at a BB/EB in London. I have no idea how they rank this high in the FT ranking.
Look to be completely honest it is going to be very difficult to break into IB in London from your position. I assume your audit offer is in Paris? In this case you will probably need to transfer ASAP to their CF/M&A team and hope that the job market recovers in London because atm it's shit. Then you may have a chance at a low MM boutique but still that will be a long shot assuming you don't have the right to work in the UK.
I think you should focus on Paris, I have seen some big4 people lateralling to Roth/Laz. If you are dead set on London your best bet would probably to kill the GMAT and with your predicted 1:1 you could potentially get into a tier 1 UK uni (LBS/LSE/Oxford) and recruit from there.
Best of luck!
Hi pal, thank you for the reply!
Apologies, I should have made it clearer, my audit offer is for London and I do have the right to work in the UK, I am a permanent resident and have resided in London since a very young age. I agree with the rating for said university being questionable, however I was able to contact 5 alumni who work in BB/EB (in London), the issue is that all of them came back with the same response: "I was extremely lucky" or "networking". To be completely honest, the only reason I chose to go to France was due to the fact that I broke my leg when I started revising for the GMAT.. and I guess I chose the easy option (which I regret so much now).
I would be happy to prepare and kill the GMAT as I've done mocks and scored 695 with a month preparation, but to be completely honest I would struggle to find the funds for another MSc, especially with the tuition fees at LSE/LBS.
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