Division I All-American at Semi Target- quit or no?
I am a Division I All-American for a non-revenue generating sport, junior at a semi target (think Kenan-Flagler, McIntire, Ross, Haas) with 3.5 GPA, studying finance, had a solid internship the past summer in tech. I don't have much finance related experience on my resume other than my major: I've been accepted to groups on campus, but forced to drop because my practice times conflict with meetings, and coaches wouldn't allow me to reschedule. Still involved in a volunteer organization and student governance, but not specific to finance.
I've been trying to break into IB, but got started a little late (June), networking with mostly analysts and associates (3-5 at every firm), occasionally an MD or director. I got through a few resume screens and first rounds at some BB, got through to one superday, but was rejected (got destroyed on specific technicals, but told I crushed behavioral). I have 3 applications still open, but not super confident they'll work out based on past events.
If nothing works out, I have 3 options for the upcoming summer:
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Keep with my sport, compete at Olympic Trials in July (what my coaches want me to do), then do research with a finance professor at my school the rest of the summer, network my ass off, and reapply for IB full-time
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Quit my sport (sacrificing $60k in scholarship $), join the finance groups and a fraternity to get better connections, get my GPA up using the time not devoted to practice (no more waking up at 5am either), find an internship (WM or AM at a small hometown firm) over the summer, network again, and reapply
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Find something besides IB bc I don't stand a chance applying for full-time
Olympic Trials is a once in a lifetime experience (honestly my chances of making the Olympics are slim, but have a solid shot at top 6 to make the National Team), but I care more about my future. I feel like the lack of finance experience is holding me back, and I don't have the strongest connections, but have had success cold emailing and getting referrals.
If anyone has thoughts as to what would be best, help would be greatly appreciated. Sorry it was pretty long.
was in the same boat as you (div1, non revenue generating etc.) the problem is clearly not your sport but your lack of technical knowledge. whats the point of networking if you've fucking wasted a bulge bracket interview because you don't have basic analyst technicals down? i wasted like 15 interviews in college bc i was so focused on generating leads and was praying that one wouldn't drill too hard on the technicals.
let me know if you want me to pm you the website i used to get technicals down. id say shoot emails at MDs at boutique level banks. might have an MD who used to play a sport at your college, or your sport in the same division as your college. tell them you'd like to come work for them to build IB experience.
Thanks man, I really appreciate the help. I studied 2 guides and the WSO guide, but ran into problems when my interviewer asked me to do a paper merger model. Would be great to have your insight if you could PM me
sent you a pm
If you love the sport, sacrificing playing it at a collegiate level at one of those schools and participating in Olympic trials just for a marginal increase in chances of securing an IB position would be a massive mistake.
+1; also if you are able to get interviews now just improve on your technicals to actually land them.
I was in the exact same situation my sophomore year and wanted to quit becasue I thought it was going to hurt me for recruiting. Not quitting, however, was one of the best decisions I could have made for recruiting. Sticking it out is just such a better look than 2 years on the team then leaving. IB / finance is full of a ton of college athletes and they’ll think you’re soft for quitting the team if you come across a former college athlete.
To add some context to this, during full time recruiting this summer, I walked into one of the parter’s offices, he scanned down my resume, and said “you still run track?” Told him, “absolutely, I love it, it’s been such a big part of my college experience, made me who I am, etc...” He kind of laughed and smirked at me and told me the kid that came in his office before me quit his sport after 2 and a half years, so it defnitely gets noticed.
Absolutely #1. No question. You’ll regret it for the rest of your life if you back out now.
You can always find an IB job at a later date, but you’ll never have a chance at that opportunity again in your life.
Played the same sport as you. I know how hard it is to balance our sport with work. PM me if you want some help.
It'd be great to hear from you- out of PMs, could you PM me?
Similar but not-similar boat. Played a D1 sport but had an injury and could have kept going but decided to quit to focus on recruitment. With that being said unless you have a legitimate reason to quit outside of studying for interviews keep going. If nothing else when you speak on not having prior experience no one will question you if you counter with "I opted to instead try and make the olympic team". Sorry to hear about getting crushed with merger models but as others have said here, its extremely uncommon to get those in interviews. One thing I'd recommend is reviewing your story and what groups you're aiming for. If you have prior tech experience maybe hard hedge ECM/DCM to try and at least get your foot in the door versus shooting fro the stars to get on a top M&A team.
I'd recommend not doing Investment Banking at all if you want to maintain that athletic shape. It's one of the sacrifices that comes with aiming for 7 figs. However such a sacrifice is easy for people who looked okay in college but isn't worth if you are already fit. Any of the guys on here who claim they work out are at best hitting the bicycle 2-3 times a week for 20 min.
Don't quit. The doors to banking will be open for a while - can't say the same about Olympic trials.
Option 1. No brainer.
Option 2 would be a terrible choice.
Your plan should be option 1 whilst working your ass off on technical materials...get your accounting and modelling down. The research with the prof should help with that or at least give you some free time to brush up on technicals.
On network side hit up ex-athletes in banking who may have had similar experiences.
Good luck
Wrestling?
I competed in Olympic trials in 2016 and am currently in investment banking if you want to PM me.
I'm out of PMs, could you PM me? Would be great to hear your experience
There is zero chance you'll regret not going into IB this cycle.
However you will regret not going to Olympic trials, particularly if you go straight into the misery of first-year analyst life.
Doing your sport at a high level for one summer or even until the games next year will benefit your career over the long run I assure you.
Good Luck!
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