So long time lurker here. finally registered. seeking some advice
basically im interested in IB. Been late into the game and havent got anything yet. Just been networking but thats leadng to dead ends so far. They say they like my enthusiasm but recruiting process is alread done. Havent heard back from the ones im applied to. in any case not expecting much as i just did simple online apps.
Am interested in the transactions side and have some exp from last year by interning at a advisory dept of a big 4 in eastern europe..
also, junior with a pretty poor gpa of barely over 3 and go to non-target so very small alumni base. have some good activities which i can spin for some finance experience
So what are the suggestions from all the experienced guys here.
What should i do? Been researching on boutiques. should i just cold-call and ask for internships. should i e-mail?
also would anyone suggest interning at the internal corporate finance deptt of a some company/corp???
eventual goal is to go in M&A but IBD in general works as of now
At this point you should pretty much take what you can get.
but keep applying all over the place. The closer to summer you get, the more desperate companies get to fill their intern positions. Also the pool of candidates better than you shrinks as well the closer to summer. I got my sophomore and junior summer internships like in April, and they were both good, and i got my fulltime job which is pretty much my dream job at big HF/AM firm in January, far after the fulltime recruiting process for most people.
So just keep plugging along and applying to any postings you can find, remember your odds get better and better (but obviously if you find nothing you're screwed).
Evergreen advice, dunkin donuts: Two coffees one splenda! Seriously dude, why? I'm honestly curious, how do you think you have a shot with sub par gpa from complete non-target? I'm a non-target myself so nothing against it there, but is it because your 4.0 friends are doing it? Being a rain maker is out of the question. Most likely 4 man boutique in Idaho doing toilet lid M&A. At some point all of us have to be realistic. Do i have a chance at being in GS TMT? Fuck no. No matter how stupendous my networking, its just too dreamy for all the targets. In the same way, nuts like me from non-targets with 3.9+ GPA with tremendous scholarships are gunning for your dream job. Stick to Eastern Europe advisory or lateral to Deloitte IBD. Achievable. Not coz of your gpa, but because you've done it already. Good luck and if you make it, I will be the first to congratulate you, because if you can do it, that means it would be moronic of me not to make it. Success: you're my burning inspiration. Failure: reality.
Cheers!
Excellent advice. Took the words right out of my mouth.
some hard truths there... no disagreements!
but id rather try and fail before i move onto something else rather than think what could have been....
so ill keep plugging away even if it means i come accross as deluded.
honesstly though i feel the main issue is my timing rather than the gpa. not to say it significantly fucks me over regardless.
If it's your dream, don't listen to the haters and don't give up. My GPA started with a 2 and I got an elite boutique SA spot. Anything is possible.
Your are going to be too late for bigger banks with structured recruiting, but there are plenty of small boutiques with open spots. Avoid doing the Big 4 work again. Doing it twice adds little to your attractiveness as a candidate. Doing IB, even at a small firm, will be much better.
thanks for that advice. so should i go for anything and everything right now? how would some financial advisory experience of AM type at an unknown small firm in the middle of nowhere in the US work? secondly, lets say i have a lead into consulting at a reputable firm. def its got the name but will doing that be the end of my IBD aspirations?
Tell me why you want IBD? No bullshit please. Its FANTASTIC you have an option for advisory/ibd at Big 4. Its great you have a consulting option. The reason I want IBD, is because I joined this site. Only reason. I got sucked into something I didn't even consider before. Now its what I want to do for the first ten years of my professional career. I want to be the first associate at TPG from the 250,000 alumni in my business college. How can I do this? I can give you that bs later if you want to know. Why can't you realistically do this, because its not the 90's when business was starting and english majors from Harvard were lured in with fancy dinners and company events. You want to hang out with the achievers of high finance? You should have started earlier bro. And wtf, there's a life other than banking. And I don't think its the best option for you right now. Go to HBS, turn into a partner at Greenhill like one my alumni did. But not now bro. Stick to what you have and enjoy it. Do you think I'm bleeding my non-target? Fuck no. I want to be at Wharton. Same story with you. And this is the first time that I'm writing these long replies instead of watching house of cards so would like to know your thoughts too!
Cheers!
don't be an ass. i had subpar gpa and managed to get in BB IB
sounds like you are bitter.
yeah one my friends got into s&t at BB with similar credentials and no experience. the ppl ive been networking with have been helpful and my plan is to do sth in a a boutique and then leverage that for senior fall
thing is when i did my internship at the big 4 i got involved in a decent sized M&A deal... and you know in the less mature economies like in eastern europe, its not so much investment banks but the financial advisory deptts of these big 4's which handle this and ipo's
and working on due diligence and generally knowing the exhiliration you feel when you make a pitch and the firm being targetted wants to go through with your plan made me realize you know what, i would love to do this as a full time career. and ive been researching, reading and talking to people. Problem is i have 2 on campus jobs, and am on the track team meaning that i didnt put in as much effort in the fall. So thats my story
For sure. Same for all of us. Hope it all works out for you btw. Living the dream is what we all want to hear from our contemporaries.
I agree with most of the comments here-- take anything you can get regionally. By this point all the BBs have recruited their analysts, but you can easily sneak into a regional bank if you are willing to work for significantly less than a BB. It'll make you stand out next year during full time recruitment.
@whiskey. Just being frankly curious man. I honestly wanted to know what made rayman choose this. Considering that bs aside, I don't have any other reason that all the smartest people in business school work for this option. At this stage, I don't need it all figured out. I need it to be validated by those I respect. Nothing else. I was wondering if rayman felt something similar. And yes this my first harsh post and that had my honest thoughts in it. But bitter? Things are going fantastic for me bro, remember the partner at Greenhill? Finally in the big picture, I'm just a fricking freshman dude. I think something, share it if i feel I support it fully, get thoughts on it, and develop my thinking. No hard feelings to you or rayman.
And thank you for telling me your situation. I imagined it exactly as you wrote it, and fuck yeah bro, I'm rooting for you. So why not stick with Big 4 in Europe? Just wondering since it is a nice place to live, and seems like they're the players there. Unless its the same call for each of us singing New York, New York.
your best option is to make an excel spreadsheet, get some contacts, either through linkedin or alumni database, and dial for dollars. email you can try, but if you can get a guy on the phone, you are in luck. don't matter what level, just keep working hard.
Hey great insight here guys. I learned a lot from both rayman and firestorm actually. I think that both of them have some solid points to share!
I think there is hard truth and reality in those last few posts. But really, you shouldn't give up before you try: it's a matter of keeping it into perspective. I'm a firm believer that if you put your mind and heart into something you want to do, you will get there.
i'm in the same boat :c but i, nor should any of you, give up and keep climbing this ladder!
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