I messed up...
Rising junior here. Ever since May, I told myself that I was going to apply for a bunch of 2021 SA roles. I know this is a little late for most people, but definitely still enough time to prep for the apps that come out in July. I had a plan to use all of May and June prepping for interviews by reading through the M&I 400 guide.
Well, as I'm sure you can tell from the title of this post, I didn't't follow through with that plan at all. Instead I wasted the past 2 months focusing on other things, procrastinating my prep as much as possible, completing no interview prep whatsoever. Now it's June 28th and lots of apps are already out or come out very soon.
I really messed up and not quite sure what to do now. I can still apply and risk embarrassing myself during the interviews, take a gap year and apply again for SA 2022, or suck it up, live with myself, and try for FT 2022.
Procrastinating is something I've struggled with for a long time and I hope that I can learn to get over it soon. If there's any advice for my current situation, I'd appreciate it. Apologies for the rant.
I can't give you advice for apps, but I can give you advice for procrastination.
Stop doing it. Literally: just stop.
No silver bullet is going to fix your attitude. You have to realise that it's all on you, and if you don't stop, you are going to live a life full of underperformance and regret. Five decades will pass and you'll be sitting there wondering what kind of life you would have lived if you stopped pissing your time away watching shite on YouTube all day, got off your arse and did what needed to be done.
Meanwhile, whilst you procrastinated, the world carried on as usual because it doesn't give a fuck about you. If you want something, you have to go out and get it yourself.
My best advice is to still hit the applications as soon as possible. I would also consider applying to and networking with EB as well as well known boutiques like DBO. Then leverage OCR for full-time. Look you honestly need to stop procrastinating but there's still time to pick up slack and get back in the game. Don't let us down and good luck.
Not to sound harsh, but ask yourself if this is really what you want. I don’t think anyone who is serious about breaking into IB should have this problem.
external validation shouldn’t be the source of ending your procrastination. I had the issue as well and also got wrecked during the application process. If it helps instilling a sense of discipline works wonders. started reading for an hour a day and stopped drinking alcohol as regularly because I realized that eating your vegetables sucks but I don’t want to go day to day going through motions that don’t help me as an individual. I recommend cal Newport’s Deep Work
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This is maybe counter-intuitive advice, but...
If you procrastinated doing this prep work and you don't feel ready to interview, then I would seriously question if you are actually that interested in these jobs. IB is not for everyone, and frankly it's hyper competitive for a reason. But, it really isn't the only 'good' job in the world (maybe you should just drop WSO.... as it reinforces some silly notions like that).
Seriously assess why you didn't find these items a priority, it could be because you don't really want this career path. It's not for everyone, and frankly why should it be? Many do find it boring and unfulfilling even if highly paid. I would really look for stuff you want to do.
Maybe it is IB/high-finance, but it's okay if it isn't....
We all joke about "hardos" but you're competing against those kids who are cranking through models, prepping extensively and using every day to get shit done while you were jacking off. Not trying to be a dick but wtf is your plan to get into ib if you can't get the basics right.
Agreed. Went to a top public school with a top 10 FB program and my roommate would skip football games to study finance and model for his upcoming EB internship. 3 months into his 1st year he got a MF PE offer.
It's not too late to apply. Most of the BBs and a few EBs are recruiting later on this summer (starting July 1st for some, some are planning on starting in the fall). Apply for those and hope for the best. You still have enough time to prep- if you demonstrate a solid understanding of the fundamentals, have a genuine interest in finance, and have stories to show you're a team player who can grind, you should do well in your interviews. You shouldn't have to prep for the latter 2 as you should have been working on them your first two years of college. The first one is not that hard. Some of the earlier firms caught me by surprise, and I literally spent a week formally prepping by reading the M&I and the Rosenbaum and Pearl IB book. This stuff isn't rocket science and its possible to learn in a short period of time. Also, the bar isn't that high since they know you're a rising junior in college. As some others alluded to, if you truly care about this job and are genuinly interested in finance, you shouldn't have trouble cranking and mastering the basic technicals.
Any insight into the best resources to crush an interview?
For pure technicals, I think the best thing I did was read through and annotate/take notes on the Rosenbaum and Pearl book on Investment Banking. It took a few days of intense focus but it's doable to go through in a short timeframe. I thought it gave me a better fundamental understanding of valuation and M&A than i would have gotten just memorizing the M&I guide, so I was better prepared for more advanced questions that would not be in some internet guide. I think the M&I guide was good for practice, but it wasn't my main study method.
Other things to do are read the WSJ, Economist, FT, or other news source and be able to talk intelligently about an industry and an M&A deal. Also- be sure to be able to talk intelligently about everything on your resume. If you're in an investment club, be ready to discuss pitches and the industry you cover, if you have a project listed for an internship, be ready to discuss the context/bigger picture, the analysis, etc..
I never read rosenbaum or pearl and did well for EB recruiting. Unless you havent taken finance classes or dont have much finance experience, I would focus on interview technical/behavioral prep guides, as that will be more efficient
Don't understand why you guys are all shitting on OP for procrastination when IB is an industry known for procrastination and last-minute edits
DON'T YOU DARE SAY THIS IS AN INDUSTRY FOR PROCRASTINATION!
My MD hints at wanting me to work at 9am in the morning on Saturdays to get stupid decks out to clients that they said they didn't want. We DO NOT procrdastinvate!
Start interview prep now and don't stop until you get an offer
Not trying to be mean, but if you really want to break into IB you would get off WSO and hit the books. That being said, you may be late, but it doesn't mean you should give up. You need to get your shit together NOW and start prepping as you have less than a week to prepare for the banks that open apps July first. There are people that start early and later get complacent, thinking they are ahead already and don't perform well when they need to or people that just memorize early on and think they have it all down. Try looking at where you want to be at the end of this recruiting cycle and believe in yourself that you can do it. It is never too late, start with understanding the concepts (reading Rosenbaum helps) and keep up with what is going on in the world, understand how it is affecting financial markets.
Good luck, don't give up even though that may seem like the easier thing to do.
Bro you're fine... Make a study plan that starts tomorrow and stick to it. If you spend the entire month of July networking and prepping 5 days a week for a couple hours a day, you will be ready for interviews. Like other people said, it's not rocket science and this stuff doesn't take too long to learn and understand. The key is to stick to your plan. If you want it bad enough you will get it done, let your fear of regret push you...
Hey sport don’t worry about a thing! Taking time to make this thread was a great first step, really shows you’ve learned your lesson. As for tips moving forward, I’d rub one out and just visualize the pounding you are gonna lay down in this interviews. After that nothing can stop you.
Very true! Worst case scenario if he doesn't land IB he can settle for a gig in commercial real estate.
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