Delaying Graduation for IB
Does anyone have experience with delaying graduation or know someone who does? I recruited for SA IB jobs last fall and didn't network properly or prepare nearly enough. I was able to land a position at a small shop and I got the return offer but will likely be declining it. I am wondering if anyone has any experience with delaying graduation and recruiting again. I go to a non/semi-target and will probably not reach out to alumni again, but am a minority and can possibly get an offer through diversity channels. I am wondering if banks will know if I applied last year for a junior position, what they will think of it, etcetera. To note, I am an extremely qualified candidate who should've landed a top internship last fall, but simply didn't push hard enough for it and had other variables get in the way. Any information on how to approach the situation would be extremely helpful. Thanks a lot in advance.
I've done this before.
First of all, I would highly recommend against you turning down your full time offer. You need to hedge for risk as much as possible. You can accept that full time offer and continue to recruit this fall/winter. If you don't land a SA like you want, then at least, you have a job out of school to look forward to.
Second, you need to acknowledge the very real possibility that you will not get a full time offer even after a second SA opportunity. Based on my own experiences, performance is not the only factor for being given a full time offer at some of the BB's. sometimes, lesser-qualified summers will get offers simply because they are from a target school and a very senior banker wants to see their kids succeed. Just be cognizant of this fact.
Third, I would approach your pursuit for a SA by... changing your expected graduation date as if you were still a junior. Network and make sure you have a "legit" reason for extending graduation. You cna make up some BS about how you switched majors too late and didn't have enough formal education experience from school till now. Don't just state that you wanted another shot at a bigger bank.
Hope this helps
I’d only add one observation. If you openly admit that you didn’t work hard enough before, what makes you think you will work hard next time around? Lots of students during the same time frame buckle down, work their ass off and make an IB offer happen. You obviously had other things top of mind. Don’t get me wrong, I truly hope everything works out for you. I just want to make sure you understand that extending graduation will not cause you to have a better work ethic, it only buys you more time (and maybe more debt if you don’t have scholarships). No point in extending graduation if there isn’t some substantial change in your hustle. h3dgehog makes some excellent points, but none of them are relevant if you don’t truly cut the bullshit this time around approach the process with more intensity. I hope you find the role you’re looking for. Apologize for the lack of empathy on my part. Good luck.
No, absolutely not. In your situation, that would be borderline insanity. The days of highly-qualified candidates rolling into FT recruiting with a "small shop" SA on their resume and getting a FT offer at a top bank are long gone. FT recruiting doesn't even exist anymore at most shops, and if it does, the only people getting interviews are people who interned at similar banks (e.g. MS SA getting a FT GS offer). I don't want to crush your hopes, but FT recruiting will most likely not go as you think it will.
My advice would be to accept the "small shop" offer, get some good deal experience, and then try lateraling out of there after a year. That's what I did (I typed up a guide here).
You should probably take a course in English considering you completely misinterpreted everything I wrote, which was quite clear.
We Certified Users don't get paid for our advice, so when kids like you respond like this and then MS our posts, you're telling us one thing: don't waste our time on you. Lesson learned. My bad.
How would you advise if someone doesn't have a FT offer yet but still want to go to banking? Should I delay graduation or should I keep looking?
Also quiet interesting to see that this year people are overwhelmingly against the idea of delaying graduation, while a few years ago most people were very supportive about this. Is it because return rate has gone down? What if it is for regional offices that have known to keep all their interns? Should I delay graduation and try for these offices vs. keep FT recruiting and risk not ending up with an offer?
So lateraling is better than delaying a semester?
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