What Do I Do? New to IB Recruiting
Hi Everyone,
I am somewhat new to this forum and am new to recruiting. Even though I did my research, read old forums, I would love to read different opinions on what I should do starting now in my unique situation and get off WSO and get to work.
Here is my story; I was a highschool fuck up who cared more about social status and not grades. I got into easy state schools, but ended up going to a community college due to financial reasons and majored in business administration. My first year of cc went terrible due to a deep depression, resulting in me obtaining a 2.13 GPA my first year. During that summer, I got my shit together. I retook classes I received a C in and started receiving mental help. During my second year, I worked at a few retail and operational positions and found my love and passion for finance and economics. I finished my time at CC with a 3.45 GPA and received a full-ride scholarship to transfer to a top-state school (non-target like Baruch) where I am double majoring in finance and economics, have a 3.75 GPA, and will be graduating in May 2023. After carefully researching career paths and doing my research, I decided I want to pursue investment banking.
I had a research internship lined up for last summer, but it was canceled due to covid, so I did a few educational certificate programs in excel, python, and Bloomberg for that summer. I have 0 internships under my belt, and even though I have applied to a shit load for this summer, I have either don't hear back or get rejected. I understand how essential it is to have an internship the summer before applying to IB SA roles and am willing to do paid or unpaid positions.
So far, I have found a few older versions of interview guides online from biws and wsp to start studying and am teaching myself how to build a model from scratch.
What do you all suggest I do now in terms of networking, interview prep, unpaid/paid internship for this upcoming summer to better my chances of landing a SA role for 2022 and ultimately a FT analyst role.
Thanks!
Doesn't sound like you networked much, you're not gonna get anything solid if you don't. 100 cold shots a week at least m8, especially form baruch.
Congrats on getting your shit together. The relevant info for recruiting is you are at a nontarget with a 3.75 and no relevant experience.
This means you have an incredibly difficult road ahead. You will need to network hard and convince someone to take a chance on you.
For steps going forward, network hard and try to get something within financial services for an internship. Keep grades high (at a nontarget you really want to be higher than 3.75)
I agree. Seems like the only things you're missing here is networking and a higher gpa. Many banks won't look at a non-target unless you have an extremely high gpa think 3.9 or if you have networked extensively (I could be wrong here). You have a nice story as well.
Also if you happen to be a diversity, apply to all the diversity programs out there: girls who invest, each bank has their own immersive program usually... Attend networking events your school hosts.
In the same boat as you OP. Do you guys suggest I cold email a bunch of firms this week such as Boutiques, PWM, AM firms and ask for an unpaid internship for the summer? I’ve seen templates here on wso and have made one of my own to shoot out this week to different people.
Yes, but don't mention anything about paid vs unpaid. It makes you look desperate, and some places can't hire unpaid interns. If you get an offer and it turns out to be unpaid, then you will have a decision to make. But most shops will pay you something, even if it's like $15 an hour.
Thank you!
Everyone else has already said it well. But just consider how many 4.0 target school, summer internship kids you are up against for the same roles. You aren't getting in ahead of them on paper. So you need to network, network, network. Make a connection that likes you and sees the potential in you to take a chance on you. Also look for opportunities with smaller shops in smaller markets. Won't have the prestige or open up the same quality of opportunities, but it will get you exposure and experience, and gives you a foot in the door to leverage for your next move and keep moving up. Good luck!
Network network network network. You would be surprised how many bankers there are with nontraditional backgrounds. I was.
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