What am I doing wrong?
I apologize in advance for the lengthy post, but I would greatly appreciate any insights from fellowgraduates who attended non-target schools and managed to break into Investment Banking (IB).
I recently completed my MBA from a non-target school ranked in the Top 40. It's worth noting that in the past eight years, only two MBA graduates from my school have successfully entered the field of IB, and they had the advantage of family connections dating back to their high school or undergraduate years.
After two years of relentless networking, I find myself in a challenging situation. I graduated during a downturn in the, with layoffs happening all around me. I'm now wondering if there's still a chance for me to break into IB.
To provide some context, I have nearly a decade of experience in Operations and Project Management, where I've handled large-scale Real Estate and Infrastructure projects with budgets of around $1 billion, primarily in the Middle East. During my first year of MBA studies, I interned at a(VC) firm. I also achieved a , although I now regret not waiting another year to pursue a spot at a target school, especially considering the generous scholarship offer from my current institution.
Over the past two years, I've diligently networked with more than 400 to 500 professionals across various organizational levels. This effort resulted in two interview opportunities,and another with a European bank that was expanding its presence in the United States. Unfortunately, the Raymond James opportunity fell through because my recruiter informed me that the company had implemented an internal hiring freeze due to a series of layoffs. Interestingly, despite knowing some of the individuals I networked with at Raymond James, including the VP who interviewed me, had been , I still see new analysts (not any Associates though) being welcomed on the company's LinkedIn page.
As for the European bank, I went through four rounds of interviews, only to be informed that they had selected an IB Analyst with over three years of experience for the Associate role I was interviewing for.
Given this situation, I'm left wondering whether there's still a realistic chance for me to break into IB, especially considering that it's been four months since my graduation in May 2023. Any advice or insights would be greatly appreciated.