As a student at a non-target, the idea of not being able to break into IB after college has certainly crossed my mind. Despite my high GPA and (I believe) above average networking skills, it's just a fact that the odds are not favorable. As a result, I was curious about potential backup plans and what kind of careers/industries would be appealing to a Finance major that couldn't break into IB.
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french foreign legion or ride the rails
Second this. I'd also add that once you have a position in your local city, you become a much "hotter commodity" to other firms/companies in the area. In the case of myself and people I know, we have had investment banks and other companies reach out to us about being strong fits for positions and asking us to come in and interview when they need off cycle hires. At least in my city, places tend to favor local candidates more for experienced hires. Just a thought. Could be useful if you wanted to lateral down the road.
In a pinch you can become a monk
Trader who bankrupts firm on first day
F500 finance departments, then M7 MBA, then back into the fray with IB
Not working in IB is not the end of the world, you’re not reduced to homelessness because you didn’t get a job at the almighty Goldman, literally a million different avenues.
I would check out the better FLDPs as they will give you great corp fin experience and set you up for a strong MBA. From there it's either back to Corp Fin at a higher level, Banking, Consulting, or Start up. The strong MBA will be like a reset for you.
Well, I carry an extra parachute with me everywhere. You never know when you're going to need it. People talk about having a backup plan all the time, but I only have one parachute. They don't have a parachute and I do. Think about it. I also am only on the 3rd floor, so the jump wouldn't really be high enough for the parachute to open and its too high to come out of the jump unscathed, but at least I had a backup plan, right?
I mean that's what having a backup plan is really about - hoping not ever to need to use it and then when you do it fails miserably, but fuck at least I had a plan.
Email as many small shops as you can..... use your "above average networking skills" to try and get a job at a small shop. cold email 100 firms and see what happens
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