Paths into S&T as a Non-Target Graduate Student (Athlete)
Hey everyone,
I wanted to post here and try to get some real, honest feedback from those in the industry (and even incoming), especially anyone currently working on a desk in Sales & Trading (ideally equities, but all insights are welcome).
A little about me: I’m currently pursuing a Master’s degree in Finance at Bentley University in MA. It’s a pretty well respected school in the Northeast and has one of the top finance graduate programs in the country, but it’s still considered non-target by most of the Street. I’ll be graduating from that in May 2026.
My undergrad was even more of a “mega non-target,” but I was fortunate to attend on a near full-ride scholarship as a college football player, so mmm I undergrad was mostly paid for. I graduated there summa cum laude with a 3.9 GPA and currently hold a 3.8 in my master’s program.
My Path So Far: I began pursuing Sales & Trading seriously during my sophomore year, but COVID was still looming and basically shut down most traditional recruiting pipelines. Additionally, being a college football player meant I had near zero time on my hands year round. I never got to land a real internship in S&T, as the furthest I got was a first-round with TD Bank.
That said, I’ve put in a lot of work outside of formal internships: • I have a pretty strong resume especially since starting my masters degree • I network very aggressively (especially with Morgan Stanley and Piper Sandler as I many solid relationships on a few desks in Boston and NY) • I have a superior work ethic and discipline to those around me thanks to football and am always trying to outwork the person next to me • I constantly try to get into banks and shadow those on the desks when possible (going to NY for a couple days all the way from MA next week to do this)
The Problem at Hand: Everyone I speak to tells me I have all the qualities needed to be successful in S&T, but that it’s extremely hard to break into S&T as a grad student. This is because, as we all know, banks generally fill their seats through undergrad pipelines and don’t make many exceptions.
I’m still applying to S&T internships for Summer 2026 (BNP, etc.) but I also plan to hit full-time applications hard when they drop later this summer/fall. But, I’ve been told my odds are slim without an internship under my belt.
I’ve also heard two main pieces of advice: 1. Target smaller/regional banks where there may be more flexibility and less structure 2. Consider breaking in through Ops or a support role and try to lateral over
What I’m Looking For: • Any advice from those currently on desks or those who’ve broken in from a non-traditional background • Is breaking in via operations/support actually viable, or more of a long shot? • Are there specific banks, MM banks, or prop shops that are more open to hungry candidates without a traditional path? • Does my student-athlete background and strong academic performance move the needle in your experience?
I genuinely would kill to be on a desk, as it’s my dream job right now. I’d do anything to simply get the opportunity to prove myself, just as I had to for college football. Just need a shot.
Appreciate any insight or direction — DMs also welcome if you’d rather connect 1-on-1.
Thanks everyone.
Breaking into Sales & Trading (S&T) as a non-target graduate student is undoubtedly challenging, but not impossible. Based on the most helpful WSO content, here’s a breakdown of actionable advice tailored to your situation:
1. Leverage Your Unique Background
2. Networking Aggressively
3. Target Smaller or Regional Banks
4. Consider Alternative Entry Points
5. Maximize Internship Applications
6. Prepare for Interviews
7. Banks and Firms to Target
8. Final Thoughts
Your determination and proactive approach are already setting you apart. Keep leveraging your unique story, and don’t hesitate to reach out to your network for guidance and referrals. Good luck!
Sources: Q&A: Non-Target to BB S&T Summer Offer, Advice Needed - Quant to S&T - How to sell my experience?, Non-target average student declined BB trading ops offer, now having some second thoughts, Networking 101 – 8 tips from a “non-target” school student, Advice for a 21-year-old entering BB S&T?
Hey, analyst on a credit desk here.
Good to see another non-target trying to break into the industry. I may not be able to give any color on the master's degree side of things, but I'm happy to give some general advice:
1) Some experience is better than none. You're correct in that most banks fill their analyst roles via internships, but it's not a fool-proof process. Some people reneg, others may be dropped after the first month, or the desk may realize they need another analyst altogether. They will generally value any related experience (back-office clearing, product-related risk, etc.) higher than just a master's degree. Bonus points if you can do that at the same bank/company that has the opening.
It's difficult and requires a good bit of luck, but possible.
2) Have a long-term view. This goes with the last point, but you're not always going to get your dream position off the bat. I know people who started in various positions/industries, taking years to get to their seats today. What did they all have in common? They didn't rush and built a reputation for themselves, so that when the time came, they were at the top of the potential hires list.
3) Regarding the student-athlete background, I'm sure some people would take a second look at that part in your resume. It may even result in a call or two. However, just because you have the experience is not in of itself going to help you -- it's how you sculpt and mold that experience to appeal to anyone. For people who like watching or playing football, it's pretty much a layup, but what about trying to connect to someone who doesn't even know the rules? The people who break into this industry and stick are those who can find common ground with anyone, create a connection, and utilize the relationship. Doesn't matter if that's football, smooth jazz, or knitting -- it's not what you do/like, it's how you communicate it.
I apologize if these are general, but I can tell you it does get better. Stay curious, humble, and hungry. Good things will come.
Thank you very much for this, I appreciate it a lot.
I agree that banks value some experience over just a Masters. What I don’t get is when I see kids on here getting hired / getting internships and they’re just like ”idek what Sales and Trading is” or “I wanted IB but got an offer in S&T” blah blah. Like they don’t even want it bad enough.
I also agree that it’s uncommon to get your dream job first. What do you think the best path is at 23? Let’s say can’t find a desk seat -> is it go into ops or something along the line and work from there ? Is it targeting smaller banks? A combo ? What do you think?
I’m from a similar background (no masters, but non-target athlete who never interned) and was able to break in here is what I would do if I was in your shoes
The undergrad/internship process is such a crapshoot if you get the job you want great if not you need to think about what can you do to grow your network in S&T and gain some skills that will make you more marketable for the junior roles that pop up outside of the traditional recruiting process (there is way more than you think). My firm is always looking for people with a couple of years of somewhat relevant experience who can step in and get up the curve faster than somebody out of college. We have hired junior people from the buyside (a lot of buyside firms that are decent clients are not all that competitive to get seats and will allow you to learn and meet a ton of people), buyside sales roles, PWM, ops, smaller banks, electronic trading providers, etc. For you in comes down to getting your name out there and staying in touch for when that opportunity pops up. So I would cast a wide net on the first job, and you never know you may really like the first gig you get and want to work your way up.
In terms of networking you seem to be doing a great job of getting in front of people and meeting them in person. You should be trying to connect with anybody with the slightest similarities (ex-athletes, other schools in either grad or ugrad conference. I’m sure you are doing this already but you should be able to articulate in a couple of sentences as to why you are interested in a specific line of work. I’d also recommend getting your SIE, you can do that without sponsorship and it shows you are serious about getting into the business.
Good luck, seems like you have the right personality for this gig, you will find the right opportunity if you keep looking.
Thank you very much, this was extremely helpful, especially from someone like yourself who is so Senior.
I have been working very hard to try and cast a wide net, but also target what I want. It’s more like if I can’t get a spot on a desk, I would do anything in my power to get my foot in the door on the sell side after grad.
For example, an alumi of my school at Morgan Stanley wanted to recruit me for a CDS Trading Assistant role (Ops). I couldn’t do this because of my masters (I am a man who finishes what I start) but he said it would most likely be open come graduation anyway because it’s always rolling. Would you say that’s a solid start to get onto a desk with the right networking?
My only problem for something like that is can the comp match the cost of living for a place as expensive as NY? Going from MA to NY is very different.
To target what you said at the end , I am currently studying to take my SIE in September as a friend at MS said that way I won’t have to take Continuing Education.
Thank you again, I really appreciate it!
The ops role sounds like a decent place to start as long as you are based in NYC and will be talking with/seeing salespeople and traders on a daily basis.
In terms of comp, I’d imagine entry level ops roles are paying close to 100K all in at a big bank? It’s not going to be a glamorous lifestyle but you should be able to get some roommates and make it work.
I hear you on not casting too wide of a net but getting a seat on a desk is just so hard out of school that you have to try to get some sort of markets experience in a client facing capacity that you have can have on your resume for when you start looking to move to S&T.
I would love to hear how this ends up, as I am currently in the same spot as a football student-athlete pursuing a master's degree.
Can update as I go through the next couple months. I graduate from my masters in May 26.
How is your recruiting going ? Have you heard similar advice for S&T? Anything different?
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