Target Sophomore Needing Job Advice After Failing Banking Recruiting
I go to a very strong target for banking recruiting. Had a 3.9, 2 PE internships, and a remote internship with a boutique bank.
I thought that if I worked hard, I would be bound to succeed. I grinded to get into my school for the purpose of breaking into finance. I prepped my technicals throughout the summer, refined my story, and emailed everyone that I possibly could to get a chat.
However, I only received 1 screening call from a BB, which I thought I killed, and heard dead silence from the rest. I pivoted to RX consulting, and got a Superday, and I really enjoyed the people at the office. They explicitly told me I was the only one who got everything right on the modeling test, and my interviews were just straight-up conversations since I coincidentally shared a common hobby with most of them. But I haven't heard back, and others have gotten offers.
The cycle is almost over at this point, and I don't think I will find any success in it. I'm doubting whether hard work even matters when I know I put in 10x as much effort as the people at my school with offers. I'm just confused about what to do now, where to pivot to.
Based on the most helpful WSO content, here's a roadmap to help you navigate this challenging situation and pivot effectively:
1. Take a Step Back and Reflect
2. Expand Your Options
3. Leverage Networking
4. Consider the Long Game
5. Mindset Shift
6. Practical Next Steps
Remember, many successful professionals in finance didn’t start their careers in IB. By staying persistent, adaptable, and open to alternative paths, you can still achieve your long-term goals. Good luck!
Sources: How to get over a superday rejection?, Would appreciate some advice, Disappointed and heartbroken, Failed to "Break In" at my MBA Program - Next Steps?, Banking -> Startup PM on who SHOULD join IB
First of all if this all 100% honest, I’m really sorry man. I’ve seen people break into elite places with way less experiences than you. Now I would say SA 2027 IB recruiting is about 95% over, and MBB recruiting is kicking off around now since they’re shifting up timelines. Is MBB something you’d be interested in? I also think some RX consulting roles open up a bit later so you can maybe wait for those as well. One question I do have is how many banks did you apply too with referrals. At this point if you’re dead set on IB or some type of RX role, you either need to A: push back your grad to re recruit for SA 28, or B: Wait to recruit FT. Now both aren’t ideal I get that, but what you can do is try to secure a good internship this summer to help with that. Also wouldn’t hurt to kind of take a few weeks off from all this recruiting drama, as a much needed break can really help clear your head. Last thing, is stop comparing yourself to others. It does no good for anyone, and work put in is not linear with results unfortunately. Best of luck my man, keep your head up.
Yeah I’m pivoting to MBB and keeping an eye out for FT. I’m not sure I can delay grad, it would be super expensive for my family. As for referrals, I’m not sure how many I had, but when I emailed people I chatted with that I applied, a lot of them responded enthusiastically and asked to keep them updated.
Understood, and that’s totally fine. Keep beefing up your resume for FT getting internships like the ones you’ve already had, and start casing hard as well for MBB. If you stay determined, it will all work out, even if it’s not the path you envisioned. GL
Woahhhhhhhh buddy, don't jump to consulting just yet.
Unfortunately for you, top talent ends up getting spread evenly across the board, but just because BB/EB didn't work out doesn't mean there is not a path to banking. There are plenty of decent MM firms opening up and recruiting rn. Having your resume, you could easily go and FT recruit for somewhere great with a MM internship under your belt.
Beyond that, there are still lots of buy side firms opening up right now, and they seem to be taking more and more analysts.
Look hard for the firms that are still opening up and keep applying. They might not be the sexy ones that people at your target school would immediately pick, but you only have to break into the industry once to be in. You don't really need to get caught up with prestige.
If all else fails this cycle, you are very very very well set up to fill those SA 27 openings that will randomly appear off cycle.
Pray and don't loose hope.
Thank you, I appreciate the advice. I'm keeping my opportunities open, and I think I'll concurrently pursue MM opportunities and MBB, and try to work my way up for FT.
Keep your head up bud, this happens more often than one would think. As another user mentioned, if IB is the end all be all goal for you, pushing back grad timeline can be a possibility, but I think you should give consulting a fair shot in case you're shooting for PE as an exit.
I appreciate the response. Do you have any advice on pivoting a resume geared towards finance like mine for consulting roles?
"I grinded to get into my school for the purpose of breaking into finance" -- it's great to have goals but I think it is a bad mentality to devote your entire life for a couple of years into breaking into an industry. the truth is, a lot of people that get these jobs/land offers have a lot of passion/interest in areas outside of finance, but were able to take advantage of the opportunity to recruit, be authentic, etc.. When recruiting becomes life or death then it is not conducive mentally or performance-wise.
"when I know I put in 10x as much effort as the people at my school with offers" -- I am sure you worked incredibly hard and you don't feel like all your hard work paid off but have you questioned why you put 10x the work but got no results? i think it'd be helpful to be introspective and reflect on why what you did wasn't working. maybe there was a cultural issues, you came off too strong, etc.. how hard you work doesn't always correlate to where you're able to place. you can then take all of that self-reflection and moving forward figure out how to approach.
I guess it was a mischaracterization to say I dedicated my high school years towards achieving a career in finance, although it was a primary aim of mine. To your point about having external interests, that’s the thing, I had some really unique hobbies and activities on my resume and that I could talk about, and everyone I spoke to was interested in them. My work experience was the main indicator of my interest in finance.
I do appreciate the advice to do some introspection. I definitely will sit down and try to evaluate where I went wrong and could’ve improved upon before proceeding.
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