What do you do if you don’t get a FT offer?
Since you only qualify for the FT analyst program the year you graduate—and you can’t really apply to the experienced Analyst positions banks post on a rolling basis calling for 2-3 years experience so you don’t qualify for those either—what do you even do? I’m feeling really depressed and hopeless about the current situation.
I’m a graduating senior who completed a SA analyst position and didn’t get a return offer because of headcount constraints in my group. FT analyst positions at banks are programs meant for new grads with 0 years of experience, which is what I need. However, you are only eligible the year you graduate—the application asks you to select when you graduate and it filters you out if you aren’t between the qualifying range (currently Winter 2023-Spring/Summer 2024). This means I only qualify this year, and wouldn’t qualify for next year’s FT Analyst programs unless I delayed my graduation by taking extra classes. But the prospects right now are not good for FT offers—rarely any banks seem to be posting these, and competition is fierce. Even the bank I interned at this summer filled its FT positions primarily from its intern class.
The other option is applying for rolling Analyst positions that various groups post on a rolling basis when they need a spot filled—but these are targeted for experienced professionals with x years of experience, generally at least 1 and usually at least 2-3 from what I’ve seen. I would not qualify for any of those positions because I’m a new grad with 0 experience beyond my SA position, and I wouldn’t be able to jump right in to the position without the training program the FT Analyst programs supply.
But as I said, the FT Analyst positions aren’t looking good. Some, like Barclays, only let you apply to one group. The number of applicants is huge and the positions are limited. It’s a really hard time for me right now. I am thinking of delaying graduation and applying to SA positions again, but I don’t know if I can do that at banks I’ve already applied to FT positions with.
Dm me
Can I PM you? In a similar dilemma, looking for advice
What do you mean you don’t qualify for FT analyst programs?
Hey! Sorry, what I mean is: I’m a graduating senior who completed a SA analyst position and didn’t get a return offer because of headcount constraints in my group. FT analyst positions at banks are programs meant for new grads with 0 years of experience, which is what I need. However, you are only eligible the year you graduate—the application asks you to select when you graduate and it filters you out if you aren’t between the qualifying range (currently Winter 2023-Spring/Summer 2024). This means I only qualify this year, and wouldn’t qualify for next year’s FT Analyst programs unless I delayed my graduation by taking extra classes. But the prospects right now are not good for FT offers—rarely any banks seem to be posting these, and competition is fierce. Even the bank I interned at this summer filled its FT positions primarily from its intern class.
The other option is applying for rolling Analyst positions that various groups post on a rolling basis when they need a spot filled—but these are targeted for experienced professionals with x years of experience, generally at least 1 and usually at least 2-3 from what I’ve seen. I would not qualify for any of those positions because I’m a new grad with 0 experience beyond my SA position, and I wouldn’t be able to jump right in to the position without the training program the FT Analyst programs supply.
But as I said, the FT Analyst positions aren’t looking good. Some, like Barclays, only let you apply to one group. The number of applicants is huge and the positions are limited. It’s a really hard time for me right now. I am thinking of delaying graduation and applying to SA positions again, but I don’t know if I can do that at banks I’ve already applied to FT positions with.
I see what you mean and I'm actually in the same position. I think the play here is to try really, really hard to get into one of the MM/BB spots and if not, try to get LMM/regional IB. Then look to lateral after one year. And also cross your fingers that the market turns around beginning of next year so that banks will look to 'top up' some of their groups. I think reapplying to SA is unrealistic (i'm assuming you're in the US?) considering the reputable banks are done recruiting and it doesnt seem worth it to delay an entire year just to do another SA at a mediocre bank instead of getting actual work experience and then lateraling when things hopefully turn around
In the same dilemma, can I PM you?
What is the point of delaying graduation when SA 2024 recruiting is almost done and in a similar spot?
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