Official "in a Rut" thread

Hello everyone,

After a robust recruiting season, I am left with no SA offers and am feeling desperate. I am certain that I want to start my career in the investment banking or S&T space but am just having a difficult time moving through interviews (at finals rounds especially). I am going to work intensively on that till full time recruit comes around but I can't help feeling very concerned. So, I'm certain I'm not the only one but do feel very much alone. If you're in my situation (or similar), what are your plans for the summer? If you've been in my position and received a FT offer, what did you do that helped ( ie. a study program, reading more, just practice more interviews)?

Thanks in advance.

 

I haven't been in your shoes, but the people I know who have been have always gone boutique or middle market. Those banks are still recruiting, and you just need to reach out to them. Oh, and call alumni and friends who have jobs. An alumni of my school told me about his experience where the same thing happened, and he has a FT position.

 

Probably fairly true, but seeing as how you've struck out everywhere, try to find a MM or boutique that will pick you up. Direct experience is more important, and it could help you get a very decent job down the line

 
Best Response
The Eningeer:
Yeah, a MM or Boutique firm over the summer to a BB works a lot of the time. I have a friend who SA at Houlihan Lokey and FT at CS. For sales and trading, it's all up in the air. I have no idea how their FT recruiting works out, since I think all of their recruiting is from SA's or lateral hires.

Houlihan is still pretty hard to get into. You can't really just email HR and ask for an interview. I feel like it's that time of year where you have to go the random boutique route. Are those just mentioned, Jefferies etc., really still recruiting? Feel like they would be done

 

Actually, I e-mailed a random guy who got back to me. I spoke to him for about 20 minutes on the phone, and sent him my resume with my thank you. I received an e-mail for a phone interview the same day.

 

Something is better than nothing. At the boutique you might get more actual experience because of the close knit nature of the shop. You go to a big firm and might not do anything relevant. Either way related experience, large or small, is better than nothing at all.

 

who;s still recruiting? believe Houlihan, Piper, FBR, Jefferies, Baird, and a few others. Look for alumni at these firms first, and send them an e-mail as many people you can at the firm. If they like you enough or think you'd be a good fit, they'll submit your resume to HR and have an interview set up. For their, it's all you.

 

Sent out over 100 emails/resumes to HF's, mutual funds, research firms, and PWM/PB over the past week. I did all the BB's back in December and got nothing, one even rejected me before I finished the application. I didn't realize being a non-target sophomore would be this tough to break in. My network keeps getting bigger but still looking for just one offer.

 

I have gotten a lot of, "we are too small, too broke, too late in the year, too young" to take on any interns. I have the ones who say that they only take juniors and up saved in my inbox because they will be getting another email from me around September of next year. The good news is, is that I have a full time job at a construction company, but I don't plan on being a plumber the rest of my life. I'll forward you my resume once I get out of class.

 

Et quia eligendi optio quis perspiciatis. Occaecati velit similique vero est. Dicta eum aperiam iusto quo eveniet aliquid cum. Non eius est odit ullam non sit ratione.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 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

March 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

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $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
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
kanon's picture
kanon
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
CompBanker's picture
CompBanker
98.9
10
Jamoldo's picture
Jamoldo
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...”