How to break into the IB industry after you have graduated with 0 internships in Canada, Toronto?

Hi,
I am a recent graduate from UofT, Rotman Commerce program, which is a target school and a prestigious program. However I missed out on the summer internships of all kinds as I would always go back home for a summer break. I have also missed on the GPA targets partly to my 2nd year, when I decided to jump into social life of the University.

As a result, now I am at the operations side of an investment company and feel that I am in a deep trouble and there is very little chances that I can get to IB at this point. (cGPA 3.0)

However, I am trying to fill in my gaps as much as possible and spend all the free time on listening to Damodaran lectures, watching finance modelling videos online etc. I have already gone through all the free videos from BIWS and Wall Street Prep. I have also signed up for CFA level 1 to show the potential employees that I have solid understanding of finance upon passing it in June.

I have tried to find any case competitions or IB competitions for recent grads but could not find any....

People tell me to get to Masters' program or to a MBA program and it would possibly open up opportunities for me to enter the IB industry but I want to work in IB so that I can pay for my MBA, not otherwise because I simply have no such funds to pay off the program.

My most recent future plans are to write couple of stock pitches and start doing cold coffee meetings with IB professionals since it seems that nothing else I could do to get myself to the industry.

I would appreciate any advise. Is it good idea to wait until I pass the CFA level one and start networking my way through to the industry or that wouldn't be effective because the longer I wait from my graduation the less chances I would have to emerge as an entry level IB analyst?

Comments (6)

Nov 5, 2018

UofT is not a target school, and Rotman is not a prestigious program.

    • 1
Nov 6, 2018

Any advice though?

Andrei

Nov 6, 2018

Reach out to school alumns, grab coffee, build a relationship, grind on the guides and subtly ask for an interview when you are comfortable asking and when they are comfortable being asked.

Since you missed the deadline and have sub-par GPA, you have to go with networking if you want to break in soon.

    • 1
Nov 6, 2018

Although I agree networking will help, you're going to have craft a hell of a story to explain to people why you're in this situation. Be honest but word it in your favour.

I'd add that since it seems like on paper you're not a particularly strong candidate, I'd focus mainly rn on bulking up your credentials, so study for the CFA right away and focus on building yourself at your current job. You mention you're at an investment firm, which is a decent start regardless. Talk to people there, and look for opportunities to lateral into a more FO role. People break into IB at all kinds of different stages in life, its never too late.

    • 1
Nov 6, 2018

Fair point but the bulking up part could take some time. Although I agree that you are off to a not-so-bad start to break into IB, if you want to get in soon (within the next one or two recruiting cycles) you have to grind on networking (which could potentially include your current investment firm and their contacts but be careful since you're literally asking them to help you move out of the firm).

And yes, you need one hell of a story to explain your grades, your choices in internships, why IB transition now, etc.

    • 1
Nov 6, 2018
Comment

Andrei