Graduating in May 2013 and since recruiting is pretty much over...I have nothing lined up at this point. I go to a school where some banks recruit on campus, but it's pretty close to being a non-target. I've cold called and cold emailed every bank and even expanded my horizons to other industries. Despite having a very strong resume that includes front office experience...I get denied an interview because of the name of my school or just nothing available at the moment. I'm at the point where I'm seriously contemplating transferring to a target university not only to have access to a better alumni network, but also to explore the many activities I've been unable to participate in given how stingy and poor my university is. I know many people would advise against this...but at this point I would be happy with spending the extra time in school and have the opportunity to apply to a variety of roles (credit risk, market risk, energy companies, utilities, corporate finance roles, etc.)
My thought process is that I'd rather not try to pointlessly apply for jobs, cold call or e-mail after graduation because I've been doing it for as long as I can remember and I'm running very very thin on places to contact and it's always a response along the lines of "Sorry we're done recruiting but we will hold your resume" or "We don't take candidates from your school good luck"
Any feedback would be greatly appreciated!
Obviously, this is going to be a personal decision. If you have literally no job lined up, you can transfer with little additional financial burden (or are completely comfortable bearing the additional cost), and you can get into a school that will improve your chances materially enough to make a difference during recruiting, I say go for it.
Remember that nothing's easier simply because you're at a new school. You will still need to: - network extensively - keep your grades sky-high - identify and participate in leadership opportunities on campus - dedicate yourself to the classroom and maximize your limited time in a learning environment of better caliber
Don't fall into the common trap of thinking that the transfer (if successful) is the easy-fix pill. Keep your nose on the grindstone and your eye on the prize. There are no re-do attempts after transferring.
Can you clarify ... transferring would mean you would delay graduation to May 2014, correct?
You're considering delaying your graduation by 2 years just to possibly increase your odds at getting a better job? That REALLY doesn't seem worth it in my opinion...
There are plenty of places still hiring FT. Additionally, why don't you just apply for a summer internship?
If anyone is still hiring FT, they definitely won't be at my campus and what type of roles are they hiring for exactly? I can't do a summer internship unless I decide to delay graduation and try to go through the recruiting process again...?
One option is to sign up for the Tuck bridge program. I know there's at least some recruiting there.
masters of finance?? msfhq.com
That's another option. If your grades are decent (and you can study for the GMAT for a month or two), you could consider an MSF degree or the MMS program at Duke. That's essentially a rebranding degree, a pre-experience professional degree that won't allow you to skip past the entry-level role that you'd take out of undergrad but at least gives your resume a bump. You get some access to recruiting at the better programs (e.g. Villanova MSF, Duke MMS, etc.). That's one year's tuition and board vs. two years with a transfer.
Transferring to better program in senior year? (Originally Posted: 01/14/2007)
Hi everyone, i've been lurking for a while but this is my first post. At any rate.
I am a senior at a west coast state school (non-UC) so obviously i am not a target for most banking positions. After doing a lot of research into this field it seems apparent to me that my chances are not spectacular for landing a job post graduation. I am toying with the idea of transferring into a better program as opposed to taking my chances getting an MBA post grad from a top 10 program.
Heres a little info on me
I am majoring in applied math with a minor in econ. I have about a 3.4 GPA I am a senior set to graduate in June 2007 Im white I am currently taking (and passing) actuarial examinations I am certain i can score 720+ on the GMAT
So I guess my main question is, should I graduate in spring from my state school, work in the actuarial industry for a few years then attempt to get into a top 10 MBA program, then transfer into an associate role in BB, or, try to transfer into a top UG program next year, finish my degree there (hopefully in about a year and a half, maybe less, this would depend on the school that I get into) and move strait into an analyst role in BB?
Right now I am leaning more towards joining the workforce and gaining experience, but the desperately low admissions rates for top 10 mbas has me wondering if I should be considering other options...
Why would you transfer when you only have one year left to go? Most schools will only accept 2 years worth of credits from a different institution so it would be like you wasted a year.
Don't transfer now. With a 3.4 currently you can manage to pull it up to a 3.5 if you do well senior year. With a 720 or higher GMAT and good work experience, you should have no problem getting into a respectable MBA program and using the MBA to get into i-banking as an associate.
The average gpa for a top 10 MBA program is only a 3.5 Average gmat score is around a 700 and work experience is around 4.5 - 5 years.
Network if possible, if not, just focus on getting into a top MBA program and use that to break into banking.
Thanks for the comments guys. I think i agree with you, I just get a little discouraged when I see that most of the good i-banking jobs are going to Ivy/top10 grads.
I will just have to wait a few years to be competitive.
i'm in a bit of a similar situation
so, looking at his situation getting into banking right after grad is not possible the earliest it could happen is 6 years? (4 for working, 2 for the actual MBA). but he'd start as an associate.
warmpi,
I think i planned for 5 years. In those 5 years 1.5-2 would be for the MBA and the remaining 3 would be work experience which would also allow me time to get my associateship in the society of actuaries( or ASA/ACAS) . ASA at age 25-26 is considered pretty fast and Im hoping this will give me an edge at applying... who knows.
Also, do associate positions typically go to people that have worked as analysts? I know that a summer internship is crucial to these positions, but how many people go strait to associate without being an analyst first?
I thought about doing the same type of thing, although I was thinking of transferring for my senior year (would graduate in '08 on time). There are only a few schools that let you get by the 2 year rule, but none would admit you with your senior status - unfortunately. Good luck though.
It is beneficial to you if you start as an associate. You will have skipped the 2 years of analyst hell and pre-MBA lack of social life. You will have some fresh legs under you, having been in industry without the ridiculously long hours that an analyst encounters. With a top 10 MBA, you will be all set for the academic qualifications and ready to start as an associate.
lol..."I'm white."
:-p
I mentioned that as to rule out the chances of myself being selected as a AA/EO student.
Transferring colleges during senior year with offer (Originally Posted: 08/25/2015)
I currently attend a non-target and have an offer to BB. However due to financial reasons I might have to transfer to an instate school for the rest of my undergrad. It's undergrad business program is solid and MBA program is ranked in the top 25. My current school's MBA program is in the top 40.
If i were to notify my BB would they rescind my offer? I didn't summer at the firm.
Why would they rescind your offer?
Also, is your position FO? If so, holy damn, congrats. You must have godly stats to make it into FT w/o SA experience and from a non target... lucky connection?
You said you had lateral analyst offers back in April. How are you back in undergrad?
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