Turning 21
I turned 21 yesterday, and frankly I'm depressed. I'm a junior at an extreme non target and I still have no internship or any hope in sight. I've sent out hundreds of applications and have never made it past the initial stage. My feedback from my coffee chats is either the same boiler plate "keep applying" or "just get an internship", ignoring that I can't even get an interview and have applied to every single segment of finance and even accounting roles.
I"m transferring to a semi target and am seriously debating on restarting from zero as a freshman there just to give myself a serious chance. I have zero faith in myself to recruit Fulltime.
I honestly rather kill myself and spare my family both the shame and the financial burden of me being unemployed or going to school for 4 years. I just can't cut it in today's day and age it seems. I would appreicate any advice, because everytime I reevaluate my situation, the outlook seems to get worse and worse.
Hey man, I’ve honestly been in your shoes before. It’s completely okay to feel down right now — this stuff is tough, and the pressure can get heavy. However, one thing that has helped me is learning to separate my worth from my progress. You’re not behind — you’re just learning the hard side of growth earlier than most, and that kind of struggle builds real resilience. The same pressure that’s crushing you right now can shape you into someone unshakable over time.
And don’t feel like you need to start over or do another four years of school. Stay the course. You’re already taking steps that matter, even if they don’t feel like it yet. Worst comes to worst, you make a lateral move and gain experience elsewhere, then make the jump back to where you're trying to get.
I’ll be honest with you — when I couldn’t get into the position I wanted, I was depressed too. And even after I arrived, I still felt it. That’s when I realized my happiness couldn’t come from where I stood in life — because it’s never enough when your worth depends on achievement. It’s something I still have to remind myself of all the time.
You’ve got time. You’ve got potential. Just don’t let this season convince you that you’re not enough — because you are.
OP here.
I can confidently say I'm behind. I only started recruiting for internships back in January and the truth is I'm nowhere near the average candidate, even if you remove the non-target school from my resume.
I've made a lot of connectiosn over the past 10 months, and I have come to learn that my peers have worked much harder than me. Multiple internships, coops, case competitions, and everything else that's the minimum nowadays. I'm in my schools investment fund and finance club, and have a 3.8 GPA. That's it. In a stack of 100 resumes, I don't beat out 90 of them for a position.
The worst case scenario isn't a lateral move, because that implies I get a job. At this point in time, the most likely outcome is that I will not get an internship and not get a job, and techincally this is the least competitive internship and job market I will ever be a part of, if the trend holds. The probability that everything goes wrong is more than 99 percent at this point.
I have never assumed that my job would bring me happiness. I've been unhappy for a long time even before I started recruiting. I just need the money, because I have nothing else going for me.
I think I'm just a case study on what NOT to do when it comes to recruiting. If I kill myself because I'm so depressed, people will just chalk it up to I couldn't cut it and move on. There's hundreds of thousands of prospects out there, the game will keep being played.
You have options. Get a masters from a top school, go FP&A and lateral, MBA route. At 21, I didn’t have an internship at all. At 24 I’m at a MM bank in a Credit LevFin role.
Take a step back, go on a walk.
First off, let me say this: you are not alone, and your situation is not hopeless. Many people in finance, even those who eventually succeed, have faced similar struggles. It’s easy to feel overwhelmed, but there are actionable steps you can take to turn things around.
1. Mental Health Comes First
2. Reassess Your Strategy
Based on the most helpful WSO content, here’s how you can pivot your approach:
#### Networking - Quality over quantity: Instead of sending out hundreds of applications, focus on building genuine relationships. Start with alumni from your current school or the semi-target you’re transferring to. Use LinkedIn to find people in roles you aspire to and request informational interviews. - Be specific in your asks: When networking, don’t just ask for general advice. Instead, ask for insights into their career path, tips for breaking into the industry, or even feedback on your resume.
#### Internships - Start small: If you’re struggling to land a traditional finance internship, consider roles at smaller firms, startups, or even unpaid internships. These can provide valuable experience and help you build your story. - Part-time internships: If you’re transferring to a semi-target, look for part-time opportunities during the semester. Boutique investment banks, private equity firms, or even corporate finance roles can be a great starting point.
#### Craft Your Story - Employers care about your narrative. If you’re transferring to a semi-target, frame it as a strategic decision to better position yourself for a career in finance. Highlight your determination and willingness to take bold steps to achieve your goals.
3. Leverage Resources
4. Long-Term Perspective
5. Stay Resilient
Final Note
Your worth is not defined by your career or the speed at which you achieve your goals. Take things one step at a time, and don’t hesitate to seek support when you need it. You’ve got this.
Sources: In Search of Wisdom, Freshmen: What to do during your freshman year summer, Non-Target Recruiting Guide Part I: Resume and Networking, 5 Steps To Becoming A Rockstar Freshman (Undergrad Advice), Ask CompBanker
WSO site please see the end result of the culture you have created. Well done Patrick and co!
Sounds like, and I mean this in the nicest way, you need to take a step back and gain some perspective.
Go take a walk, take a deep breath, realize that people not making 6 figures can have wonderful lives.
There is more to life. Don‘t let the WSO bubble fool you.
OP Here. Like I said below, I'm pretty damn tired boss.
I try and take a step back every once in a while and I mean honestly I feel like everytime I do that the gap seems to grow wider. The more research I do about this industry and what it takes, it seems like the standards just keep getting higher and higher. I thought back in January that you needed really just one internship your junior year, but now it's insane like 2 internships minimum, case competitions, 3.8 +GPA, the investment club, the finance club, the hedge fund club, the memorization of the BIWS guide, search funds. I mean I just cant compete man.
Listen I'd love to make 80K a year and be the happiest man on earth, but that just ain't me deep down. I got nothing else driving me except the money.
Edit:
I'll probably get a reply saying. "Well then how come you didn't try harder or why are you blaming kids for being competitive". I'm not blaming my peers and the younger generation. Kudos to those kids who knew what they wanted early in life and I hope they all get what they want.
If I'm being candid, I just didn't know. I (naively) thought that all you needed to get a good job was just study hard and do good in school. Obviously I was wrong.
Research intrinsic vs extrinsic motivation. All the things u listed are only table stakes btw.
"There is more to life"
Hobbies, friends, family, trips, fav niche subjects.
Protein, omega 3 supplements, vitamin D.
Thats what makes life worth living. IB isnt everything. Its not even something. Its probs negative something. Your perspective has been so badly skewed, but thats what happens to ppl in bad mental health. U have the rest of ur life ahead of u.
If that fails try to remove urself from the situation and view it comically.
Having a victim mindset won’t get you anywhere. Be better.
"Network harder"
Peeing harder helps too. When you pee more forcefully you save 3-5 seconds each pee, which adds up over time to approximately 5hrs per year which you can also use to network harder. It's all about finding the extra time.
I was in the same situation as a junior having just transferred my degree to finance at an extreme non target. Felt like I was the only one in my entire program interested in investing and private markets. No alumni in IB let alone wall street. After a certain point, I actually gave up on IB recruiting. Joined a small fund in a BD role and then quit to start my own business.
You’ll find a job. Even the dumbest of frat guys with a 2.2 gpa end up getting a role somewhere. Have you considered other industries where it’s not as much of a lift? Some of the wealthiest people I know are in sales and marketing. I know so very well that when I was in your position it was high finance or bust. But sometimes it’s worth taking the less traveled road.
OP here
I'm pretty damn tired boss. I've burnt myself out mentally and physically just trying to catch up these past 10 months. I mean when I tell you I've applied everywhere, I mean everywhere. Corp Fin, Corp Dev, Commerical Banking, Commodity Ops, Risk, FP&A, I mean you name it, I've applied and been rejected from it.
I feel like I can't mail it in at this point. Me transferring is basically is my last ditch attempt, and not only am I taking on more debt and pressure and risk by doing so, I'm also putting a huge strain on my relationship with my family.
The only places I haven't applied ot are the pure sales roles like NWM or Primerica, partially because I don't think I have the natural salesman talent, and mostly because I simply don't like those places from a moral standpoint.
Can I ask why you transferred into an extreme non target?
I meant I changed degrees to finance. But with that being said, I did my first two years at a community college and then transferred to a small state school, and still somehow found a way to work at a buy-side fund in a really awesome role.
I don’t really know what to tell you other than if something is not working, don’t just keep doing it.
Try expanding your search. BB IB/back office is not the be-all end-all. Look at small regional banks, SP500/Sp400 corporates, small boutiques, corporate recent-grad rotations, start contacting staffing/recruiters. get any role you can, make the best of it for a couple years, then try MBA. I was in a worse spot than you and turned out fine, you will be too.
never throw yourself a pity party. make a plan and stick to it. only you can make yourself better. do not blame the consequences of your environment, see what you can do going forward to make it better.
Think about the kids your age who stormed the beaches of Dunkirk to defeat the Japanese Axis forces in Belgium in WW1.
It's completely fine to give up and aim lower. Not everyone can break in, that's the whole point of it being competitive.
You sound like a puer aeternus. research it.
This glory or death notion needs to be forgotten, it is toxic. Get a normal job and work - like everyone else. Work makes a man noble. Once you get a job, any job and some hobbies and meet some new people, this silly idea of kys over a finance job will go away.
you are not a special little star - sorry if this harsher than what you expected, but this is what your ego needs to hear
I don't think I'm a puer aeternus. My problem isn't that I'm struggling to choose between what offers I have. The problem I have never gotten an interview for the 350 positions I have applied for.
I don't think I'm a special star. If I were, I'd be blaming everyone else but me. I recognize my failure and my lack of preparedness.
I graduated undergrad 8 years ago from a smaller public state school with a finance degree. Didn't do internships at all, worked full-time at a grocery store my entire undergrad (Fri/Sat/Sun 6am-4pm to get full-time hours) so I wouldn't have to take loans and could afford a crappy apartment off-campus.
Fucked around in Asia for a year after graduating. Came back to the US and worked at a restaurant for 9months until I finally networked my way into a back office job at a big AM. Since then I've made it up to Finance Manager with a decent salary and a 40hr work week.
Would I have been better off in the long run if I had focused on internships and recruiting my last 2 years and just taken student loans to do so? Maybe, but I have no regrets. Some people have to scratch and claw harder than others but it will work out. Not having student loans is nice, I'll say that much.
I was in the same position as you with trying to find an internship. It sounds cliche, but the best advice is to keep knocking on the door. Apply to any company / role that you find interesting regardless of location. I went through countless first & second rounds with companies who's cultures I knew I would hate, but would tell myself I like the job. When I found my current role I immediately clicked with the rest of the team & staff and sure enough I landed that role. So in my opinion, you haven't yet found the right role because you haven't found the right group that you mesh with and finding that group is a numbers game so keep applying. Also, wether your interested in PE IB VC, etc find a specific industry your truly interested in and passionate about which helps with finding the right role and team.
OP here.
I have sent in 352 applications with not one interview. I have applied to literally every single state in the Continental US. What more can I do? I've done all I can and I'm staring down the abyss here. If I graduate within the next two years I will be going into the worst job market since 2008, and an even a more competitive enviroment.
It's literally November 11. It's way too early to give up internship recruiting. You're not doomed to be unemployed when you graduate... I know it's hard but trust me most people do not have internships by now. The internships that are posted now are much more competitive than the internships posted in the spring. Once it comes to January, most of the 'top' candidates will be off the market.
What roles are you targeting? I think a big mistake people make is spraying their resume out to 100+ companies at once without understanding what they're applying too. If you apply to a strategy role, your resume should sound different than if you apply to a finance role.
Has someone reviewed your resume? There may be obvious issues with your resume formatting that are leading to those rejections.
What do alumni of your school do after graduation? Hate to say it but at this point your time is better spent focusing on realistic roles (and not IB roles). Does your school have a career center? Maybe they can help point you in the right direction. Does your school have career fairs?
My point is that there is more to applying to jobs than spewing out your resume hundreds of times.
Message me I can connect you with someone
DEL
First time poster here, but felt obligated to comment given the empathy I have for your situation.
Attended a target and, due to my arrogance and ignorance, did not start recruiting until AFTER I graduated. Few things played into this, first and foremost me not wanting to accept my underperformance in my college years due to other priorities (athletics, booze / drugs, girls, video games), along with me assuming my degree / university pedigree could get me any job I wanted.
Turns out it's really difficult to land a job, let alone a good one. I was unemployed living at home for 6 months looking for jobs in my midwestern hometown while all my friends were off making bank on wall street. I was super down on myself and felt like a failure, primarily to my parents who put me through college. However, the major learning lesson was that things would no longer fall in my lap any more now that I was adult. Granted, I wasn't looking to work in finance (did an IB internship and wasn't my cup of tea), but I think this applies regardless.
Fast forward 6 years, I have what I consider a great job at a boutique consulting firm in a big city, and the imposter syndrome has (mostly) faded. All this to say, that if you're putting in the effort now, you are by no means behind - in fact, there are way more people than you'd expect that are approaching things like I did. If you keep putting in the work, it is quite literally impossible to fail. You may not end up exactly where you thought (I certainly didn't think I'd be doing what I'm doing now), but you'll end up where you need to be.
Best of luck brother, and remember that there are a lot of great years ahead of you.
Finance is just a job, not your life, and your job does not determine your worth. It’s a cliche but true. Even working as say a librarian or landscaper or gym teacher is noble work when done well and they are equal as humans to some hedge fund analyst big shot. Some would say morally better. Don’t forget that. It’s not shame on your family it’s honorable. And being unemployed is not th end of the world either, stop catastrophizing. Trust me even reading the way you write you’re smarter than most so won’t have trouble getting a job in the long term.
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