Too late for me?
Hi all,
So just a little background about myself before I ask for advice:
- 4th year business student
- Semi/Non-target Canadian school
- 3.7/gpa
- 3 internships (none banking/sell-side related, one corp dev that was pretty much business dev)
I decided on banking and/or corporate finance in my 3rd year. I have one more term of school left by which I plan to take one internship/co-op term before graduating.
Long story short, I have applied to well over 100 off cycle positions, and had 20+ networking calls over the past 2 months with no luck whatsoever. No first round interviews have come from these calls and I have been getting ghosted by recruiters consistently.
Now before you ask, I’m not a weird guy and can handle a basic conversation. I have no opportunity to demonstrate my technical abilities because I don’t get an interview (although I do try to dig deeper into technical topics with my calls occasionally).
So my question is what should I do? Recruitment post grad into FO roles is much more difficult, and I have no real prospects in terms of FT employment thus far.
Should I get my MBA or hold out hope the someone will give me a shot before I graduate?
Apologies for being long winded, just feeling lost and some guidance would really be appreciated.
Cheers!
Hey there,
First off, don't lose hope! It's not the end of the world if you haven't landed an IBD internship in your junior year. It might make things a bit more challenging, but you can still win offers.
Here's what you can do:
Look at other finance jobs that have transferable skills. Consider internships in corporate or commercial banking, valuation, or something on the corporate finance side.
Network before fall recruiting and try for IBD again. Networking with boutiques could be beneficial as their cycle is less defined.
Consider internships or part/full-time jobs in Asset Management for a non-profit or corporation, or even equity research. The goal is to find roles where you have transferable skills.
Once the economic environment improves, a lot of banks will start hiring again. Those who have been preparing and networking will have opportunities to land FT offers.
Don't get discouraged! People do get out of cycle IB jobs. Keep working until it happens.
Do your research. Know what you're getting into. Being an IB analyst or associate isn't hard. At its core, there is elementary math and...
As for the MBA, it's a big decision and investment. It could potentially open up more opportunities, but it's not a guarantee. It might be worth considering if you've exhausted all other options and still haven't landed a role in the field you want.
Remember, the key is to find roles where you have transferable skills. Keep your chin up and keep pushing forward!
Sources: https://www.wallstreetoasis.com/forum/investment-banking/nothing-is-going-right-for-recruitment-whats-next-need-advice?customgpt=1, Fashionably Late: 6 Steps for Off-Cycle Recruiting, Advice for SAs who didn't get return offers, Unsuccessful Full time Recruitment
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