Keep Dream-Chasing or Network Out of BO? Goal is ER.

I'm a recent finance graduate from a "non-target" with a 4.0 GPA. I've had a WM internship at a BB in NYC and also worked part time at my school's endowment fund doing ER for the portfolio. I was the only person at the WM internship to get a return offer, which I turned down because I knew I wanted to pursue research roles. For the last year, I applied to any relevant job posting that didn't require experience and got 3 interviews (a boutique HF, a MM FoF and a top consulting firm (MBB). In each scenario, I was able to make it to the final round and was passed up. Feedback said I was a perfect cultural fit with strong work ethic, but it came down to tiny details and my lack of real-world experience that held me back. After all of the time I've invested applying and getting through interview processes, I am now 4 months out of school with no job and no research interviews lined up. My connections at the BB have offered me again to come back, but for a BO role.

My question is, do I go for the BO role, take the CFA® (which I was already planning on, just wanted sponsorship), internally network like crazy and try to make the jump? I want to keep following my passion, but I am afraid that if I go through another interview process and get passed up again, I will then be 5-6 months out of school in the same situation I'm in today. I am confident in my ability to work hard and do whatever it takes to get out of BO as fast as possible, but I also know how rare it is and don't want to pigeonhole myself.

Anyone have a similar situation or have any advice for what my best move would be? Much appreciated.

 

Hey moose197, I swear if I had a silver banana for every lonely thread I posted too I'd be richer than @compbanker ...

More suggestions...

If those topics were completely useless, don't blame me, blame my programmers...

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Have you been reaching out directly to research analysts/associates even if the firm doesn’t have a current opening? Even if they don’t - your name will come up when a spot opens up.

Also you do realize that you can still apply for positions that say something like 1-3 years experience. It sounds like based on your post you may not applying to roles that say a couple years experience needed.

To me it sounds like you have good enough experience for an entry level research role. As long as you have a good pitch and aren’t constraining your search geographically you should do alright.

 

I guess to answer your question more directly, if you have networked extensively and already reached out to all the research shops - bank and non bank, then I would just take what you can get at this point considering how long you have been done with school.

 
Most Helpful

Appreciate your response. I have reached out and had conversations with a handful of current analysts/associates, but i suppose there is always more I could be doing. Most of the time they will ignore you, but some are willing to hop on the phone, when I can ask them about ways to improve my interview/ask questions about their role, etc. However, most of them also say, if you can't land a role right away, try to work somewhere that has a vaguely similar focus and then leverage that and apply again after you have a year (and maybe Level I) under your belt. I have not been applying to roles requiring 1-3 years because I feel my modeling isn't superior and figure the competition would have an instant clear leg up (as I've missed those previous 3 opportunities for lack of experience). But I agree that it can't hurt right? And yes, I'm willing to work anywhere in the US and have been applying accordingly.

My connections at the BB know where I want to be and just want to get me in the door before there's a considerable gap in my resume. I feel that they will help me get there, but can't say for certain just yet.

I'll continue to apply/network and also start the BO interview process and see what it comes down to. Thanks again for your response, really appreciate the feedback!

 

Officiis fugit dicta nulla et rerum iusto velit. Corrupti aliquid omnis ea qui.

Enim illo nihil minima et. Est exercitationem sunt ipsum sequi ut. Neque mollitia hic qui qui nam voluptas distinctio.

Est voluptate quia ad exercitationem adipisci. Quisquam eum explicabo quos quia vel. Et aut consequuntur voluptas. Autem aut consequatur cum est molestias reiciendis dolores. Ipsam non quod doloremque quisquam sapiente aut.

Beatae nihil commodi tempore ut placeat. Perferendis necessitatibus nulla id et minima placeat sit. Consequatur quaerat sit totam dolorum sunt et in. Vel facere nisi dolores temporibus delectus aut sapiente ut.

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
Secyh62's picture
Secyh62
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
Kenny_Powers_CFA's picture
Kenny_Powers_CFA
98.8
10
numi's picture
numi
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...”