I was unable to convert for SA 2021, had many 1st round interviews (coming from nontarget and low gpa) which I am truly grateful for and proud of because I thought I would never even get an interview (networked my ass off). But I am disappointed in myself and let my parents down( my parents don't know this shit they are immigrants), now I have no idea what to do or where to look, going forward. Thank you any advice would be helpful (i cant afford MSC - cant take that route).
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| +16 | Does this plan make sense? (Audit CPA -> CFA -> Big 4 Corp Fin/IB) | 9 | 3h |
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Just the fact that you've come this far is something you can take great pride in. Networking for SA spots is incredibly competitive in a normal year much less this year with the pandemic going on. There have been multiple threads covering this, but just because you didn't land an SA spot at a bank does not make you a failure. I've known guys who didn't even know what banking was until the second semester of their junior year land FT offers at solid banks, so just keep you're head up, continue to recruit to land a role that interests you and that you think will give you good transferrable skills to IB, continue to expand your network, and then be ready to hit the ground running when FT recruiting comes around. Don't lose faith in yourself and praying you land something you can be proud of!
thank you for the kind words and the advice! you mentioned that i should look for other roles which has similar skillset at IB and from what i am thinking is a valuation role, are you aware of any firm that recruits for valuation role? and what do you suggest i can do now to the best position for full-time role, since from my knowledge full time is harder than summer positions. thank you!
I know duff & Phelps recruits for business valuation analysts, as well as Deloitte
https://www.wallstreetoasis.com/forums/top-valuation-firms
There's some that have already been mentioned, but a bulk of the valuation firms are listed in the thread above. In addition to valuation firms, there are smaller IB regional boutiques that can give you good experience before trying to jump ship to a bigger firm. I'd also check around for any regional buyside shops that maybe don't have a structured internship program. Typically it's a bit harder to initially get your foot in the door at these types of places but if you can network your way into them they would look great on a resume. Lastly, look for any role that will give you good experience in modeling or markets so that you have a natural transition into the "Why IB" question when you're recruiting for FT. Best of luck
There are a lot of aspirants who are experiencing rejections but let us not give up. You are not alone. Let's keep our hopes up and keep going.
thank you for the kind words, i got my 6th rejection today and still trying my best to be positive!
Be glad for what you’ve accomplished so far compared to others who aren’t immigrants/1st-generation. Many who’ve been in the country for generations aren’t able to get that far, so that says something. 1st continue to network your ass off. And 2nd build up your gpa as much as possible. Coming from a non-target is something you can’t control. Your gpa is more in your hands, so get that up as much as mathematically possible. Network, and network off of your networks, and network from there as well. Confide and build relationships with experienced professionals that can be made into mentors and seek their guidance. The work continues.
Thank you! yes I am focused on my GPA and it has been drastically up since my freshmen year. One thing I struggle with is keeping those relationships with the people I networked with already, how do you suggest I keep it going, ( i don't want to come off as I'm using them or I am bothering them so that's what restricts me).
You are not a failure and you have not disappointed your parents. I don't need to know you personally to know this.
Now is a fucking brutal time to be a prospect with everything going on, and even in the best of times it's a hellishly hard to land an IB role. Even getting an interview is an achievement. Real talk: It's not impossible to get a job with a low GPA or from a non-target but it is more difficult as these are filtering tools used by every bank. Focus on that GPA from here on out. Get involved with as many finance-relevant extra-curriculars as you can. If you're like me, your low GPA is a product of laziness and lack of direction and not lack of knowledge or understanding. If you lack understanding, go speak to profs and TAs.
Banking isn't the be-all-end-all. If it's what you want, then keep working towards achieving it, but be sure that it's what you want. There are innumerable alternatives that can be just as rewarding (probably more rewarding than typical IB, tbh). I can't tell you where to go and what to apply for - you need to figure that out.
If you are truly feeling depressed, take control of what you can control to put yourself in better state of mind. Prioritize sleep, diet, exercise. Get outside - more nature / less concrete. Connect with friends and family and your support network as often as current environments allow. Lean on your hobbies as long as they aren't depressants (ie, don't stay up all night playing vidya if vidya is your hobby). If you get the sleep/diet/exercise/social support combination dialed and still feel down and depressed, consider seeking professional help. It's never something to be ashamed of.
Thank you so much for the advice :). I fucked up totally my freshman year, being a first-gen and immigrant I felt like I didn't fit into college, but ever since freshmen year I have been getting 3.9, 4.0. kind regret it. I know nothing is impossible with hard work results will come along and but I was focused on this recruiting process so much I stopped working out (this is my first passion), I stopped speaking to my friends because I wanted it real bad (I'm very poor). I am a person who wants likes to see results so if I am not progressing, I stop doing what I like (working out, being social) and focus all my energy on that particular thing (ib recruiting) so I guess I need to take care of myself now. thank you so much!
Trust me I know the feeling! I know it can be very disappointing to not accomplish everything you wish to the first time around, but you should be so proud of yourself! Banking is an extremely tough industry and you will face many failures as well as victories. I personally applied for SA positions at BBs and got a few interviews but didn’t get an offer and I was extremely tempted to give up but I’m so glad I didn’t because I got an offer at an amazing M&A boutique and I couldn’t be happier. Please don’t give up, keep working hard and trust the process. You got this!!
thank you so much for the kind words, I myself didn't target BBs because I knew i wouldn't get in so I tried MM and international and got many interviews and worked my ass off to prep but didn't even get 1st round. From speaking to people I was told to look into boutiques, I know you mentioned you got an offer for M&A boutique, how do I go about getting interviews at boutique when they don't have a formal process.
First of all don’t tell yourself that you don’t have a chance of getting into a BB, I thought the same thing as I am literally the definition of a non-target (I don’t even go to school in the US), but i applied and ended up getting multiple interviews for BBs in NYC. In my experience it really comes down to your network, so keep networking as much as you can and do not give up. Keep prepping for interviews (behavioral and technical questions are equally important), learn how to build model if you have the time, keep up with relevant news, and most importantly network!! You can do this I believe in you.
You’re very early in your career, I suggest you:
Good luck!!!!
thank you so much for the advice !!!
From one immigrant to another, you can and will get through this.
Feel free to PM me anytime.
Best of luck!
When considering other ops, don't forget places like rating agencies for example! They hire pretty frequently and it's very possible to make a jump to IB afterwards.
do you suggest I should network for the rating agencies?
Hey man, it is a tough year for every one just look at it as a learning experience, youll come out of it extremely resilient. Having said that, also learn to enjoy the small things in life and do not let a job define who you are. Furthermore, there are many, MANY other options apart from banking which are great and can provide long term success; I personally have many friends that did 2 years in banking and let me tell you that they came out of it burned, depressed and did not enjoy any other role. If you really feel down reach out to me and I will call you, keep it up man!
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