Long story short, I didn't even know what investment banking was until June of 2018 when I started my internship in REPE (friend connection). Had some other family stuff happen and a somewhat low GPA (3.4 at super non-target) that made me whiff on SA 2019. I'm set to graduate in May 2020, but given the nature of FT recruiting being next to impossible these days, I don't feel I have a chance to break into IB.
I'm currently studying abroad at the London School of Economics and did well my first semester, with a projected converted GPA of a 3.8 or a 4.0 depending on my last class. My current plan goes as follows:
1) Cold email every boutique IB firm in my school area (Boston/New York) and home (Washington, D.C.) for an internship, even if unpaid. Hopefully secure one - otherwise, I have a boutique investment consulting/asset management internship lined up that I can hop onto. Not optimal but better than nothing, and it'll pay enough to cover next semester's tuition.
2) Apply to BB/MM/EB SA 2020 positions over this spring and summer with a December 2020 graduation date. Explain that my study abroad program messed with my graduation schedule (the yearlong courses there only count for 1 credit at my school) along with my double major (economics and political science).
3) If I get a decent SA 2020 position, delay graduation to December 2020 and vacation for spring semester before starting my internship in June. If I can't secure one, graduate in May 2020 and look for FT opportunities outside of IB.
I've thought about it, and I feel this plan might be advantageous for me to pursue. One, it'd obviously allow me to enter a SA recruiting season actually knowing how it all works. Two, I'd be able to practice modeling and prep for IB for a few more months. Three, I'd be able to raise my GPA by a decent amount by the time I submit my resumes. I can't really think of any downsides to this, especially since if I don't secure a SA 2020 gig I can just revert to my original graduation date. An extra semester would cost about $30k, but given SA pay + future opportunities I feel it'd be worth it.
Is there anyone who's done something like this who can share any insight/is my plan stupid as fuck or could it work? Thank you all for your time.