Dinged - ideas now?

Dinged - what now?

I'm a first year MBA at NYU, I had a decent recruiting season this year - I only recruited for Sales & Trading. I received first round interviews at most of the bulge bracket banks, and made it to the second round at two of them. After the second round interview i got told the same thing 'our class is 1/3 the size it was 2 years ago, we just can't hire that many people' - so ding.

So - I'm an MBA and I made the second round at Citi and DB, and have a very strong interest in the markets. Can anyone recommend a recruiting strategy for me now for summer internship?

I'm fine doing a capital raising position at a small hedge fund, although I'd be a little more inclined toward the quantitative - be it making VB macros, research, news filtering, strategy backtesting. I have a pitchbook of some trade ideas too (1 for each area, stat arb, global macro, long/short).

 
Best Response

First things first, clear your head and grab a beer. I can understand the stress.

Once you've mellowed a bit, let's start to talk about next steps. Recruiting at BB is essentially over for the year. It's possible some group somewhere is still interviewing, but for the most part you're not going to enter the process this late in the game. So what to do?

Don't give up. There are way more jobs out there for finance MBAs than just the BB. Talk to your career center and hit up some alumni who are at MM or boutique firms. You will find something. You will have to hustle. Will you work for free? I wouldn't offer that to anybody - yet - but think about it in case a dream (but unpaid) job presents itself.

Start spending Fridays networking with all the other banks.

Are you a career switcher?

 

Aperiam et unde veritatis porro voluptate non. Praesentium ea quam sequi amet. Qui odit omnis aut tempore quia illo. Rerum rem nobis dolor accusantium. At dolorem officia ut ex quis libero.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
CompBanker's picture
CompBanker
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
numi's picture
numi
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”