Senior Year in Undergrad.. is it too late? =(

Capitalist91's picture
Rank: Monkey | 31

I am a senior with no real finance experience, a 3.5 gpa, and I attend a non-target school (CUNY Bernard Baruch College). I was wondering if there is any chance I can break into IB? even a small firm? In nyc..

I was not going for banking before, I wanted to pursue a legal career but I have changed my mind and realized I am more into business. I am really stressed out right now, all advice and help will be appreciated. Thank you!

Region: 
United States - Northeast

Comments (19)

Aug 21, 2011

I'd read the other posts in the forum, I think they'll help you better than individual opinions that have no idea what your background is like. Better yet, I'd try an talk to people that actually work in the industry the majority of us are prospectives that can only offer anecdotal evidence or 'hearsay'.

'Before you enter... be willing to pay the price'

Aug 21, 2011

I'm pretty much in your position, except I intern at a value-added real estate fund and decided against law a few months ago...things are working out well, but I had summer to network and apply for fall internships that I interviewed for last week

Aug 21, 2011

You're going to have an extremely difficult time getting an IB offer. I don't really know what to tell you. You've got mediocre grades from a non-target with no experience.

I'm not going to say that there is 100% chance you will never work in banking, but it's very very unlikely. The only advice I can give you is network hard and focus on less competitive jobs in finance, kick ass for a few years, go to business school and move to banking as an associate.

Aug 21, 2011
NYCbandar:

You're going to have an extremely difficult time getting an IB offer. I don't really know what to tell you. You've got mediocre grades from a non-target with no experience.

I'm not going to say that there is 100% chance you will never work in banking, but it's very very unlikely. The only advice I can give you is network hard and focus on less competitive jobs in finance, kick ass for a few years, go to business school and move to banking as an associate.

Thanks for the advice but what jobs are less competitive? Do you mean boutique IB firms or other jobs?

"Chase excellence and success will follow"

Aug 21, 2011
Capitalist91:
NYCbandar:

You're going to have an extremely difficult time getting an IB offer. I don't really know what to tell you. You've got mediocre grades from a non-target with no experience.

I'm not going to say that there is 100% chance you will never work in banking, but it's very very unlikely. The only advice I can give you is network hard and focus on less competitive jobs in finance, kick ass for a few years, go to business school and move to banking as an associate.

Thanks for the advice but what jobs are less competitive? Do you mean boutique IB firms or other jobs?

I work in banking, so I pretty much assume all other jobs are less competitive.

I'm just kidding, but, I don't know... You go to Baruch are you an accounting major? If you are go big 4 -> b school -> banking, done + dusted. In the nicest possible way, you simply aren't a good candidate. I wish I could wave my magic wand and change that, but I cant. That means you need to get creative. Look in to corporate development, look into smaller boutiques, hustle.

Aug 21, 2011

I'm almost in the same spot as you. I go to a semi-target in the midwest, 3.4 GPA. But, I'm doing an i-banking internship for the Fall semester in NYC, delaying graduation for 1 semester. Going to use it as leverage for SA recruiting again.

One thing I suggest for you is go for part time internships in NYC. There are a lot and you're conveniently located in the city. You probably will miss recruiting, but I assume OCR for Baruch isn't amazing, so you won't be missing much. But I think getting good experience will be your best bet.

Aug 22, 2011
RonaldBacon:

I'm almost in the same spot as you. I go to a semi-target in the midwest, 3.4 GPA. But, I'm doing an i-banking internship for the Fall semester in NYC, delaying graduation for 1 semester. Going to use it as leverage for SA recruiting again.

One thing I suggest for you is go for part time internships in NYC. There are a lot and you're conveniently located in the city. You probably will miss recruiting, but I assume OCR for Baruch isn't amazing, so you won't be missing much. But I think getting good experience will be your best bet.

I went through a similar process like Ron's. I didn't realize that I wanted to get into banking until mid-June of this year. At that point I had already started my summer internship at an FX brokerage. I hustled and tried to find an unpaid summer internship but had zero luck, as it was too late almost everywhere. Persistence is key though, and I managed to score an IB internship at a boutique in the Fall. We'll see where it goes from here.

My advice to you is to try and score a Fall/Spring IB internship at a regional boutique. As always, keep networking and trying to reach out to people. I especially recommend going after friend's of friends. Since you go to Baruch, I can almost guarantee you have a friend that knows someone. Cold emailing random people is a long and abysmal path, so definitely go after alumni and friends first. If you're lucky, you might get picked up and hired by your boutique.

Also, hate to be this guy, but it helps that you keep things in perspective. With no finance experience, an alright GPA, and coming from a non-target, you have to look at your options realistically. Definitely focus on smaller, regional boutiques and middle markets only. If you show up to Columbia or NYU OCR, do it as a networking opportunity more so than an interview opportunity. Coming from a similar background, I realize that I'll have to start small before I make it into a bulge bracket or elite boutique. You can always lateral later, just keep that in mind. Best of luck!

Aug 21, 2011

A part-time internship would be helpful. Look into an MSF degree as well.

Aug 22, 2011

MSF/MFE may be your best bet..

Or basically the generic answer: network your ass off cause you will need it.

I didn't say it was your fault, I said I was blaming you.

Aug 22, 2011

You're basically sore outta luck here. Full-time recruiting is in full swing over September/October, and with the reams of candidates from Ivies, USNWR top 50 schools, and top undergrad b-schools all with relevant experience through internships and extracurriculars and alumni to bat for them, quite frankly you're going to have an insane time making it through.

I'd advise you to do one of two things: focus on middle or back office roles, try to get into a top b-school that way (and be far more prepared for that process than you are this) and move into a better role after the MBA ... or as suggested, go Big 4 and pursue your MBA from there.

WIth your grades and lack of experience I doubt pursuing the one-year master's like an MSF or MFE or even MFin is a viable option at all considering you wouldn't get into a decent enough program to alter your chances from what they are now.

Aug 22, 2011

Good thing is you go to Baruch. Whilst a non-target, they have been cropping up on the radar this past 5 years.

I met 3 Baruch kids either interning or starting full-time in IBD at GS, JPM, and BarCap this summer.

The kid from GS had a "rockstar" resume -- GS IBD was his junior year internship, but between freshman year and then he had 3-4 front office gigs (think BB's / premiere IM firms / Boutiques).

The JPM and BarCap kids -- not to sure about past experience before landing IBD but definitely nothing too impressive or relevant.

But, the most interesting thing is all 3 of these kids landed their IBD interviews THROUGH Baruch -- specifically through some sort of on campus program.

From what I gleaned from them (and I may be off-point so take this with a grain of salt) is that Baruch has a program for undergrads with academic excellence to help them break into the street. I'm not sure if this program is an alumni network or anything, but what I do know is that the program has VERY strong contacts on the street and lands members interviews with top banks for revenue-side positions.

I also know that you have to apply / be accepted into the program. I believe there is a GPA requirement (3.5+ so you should be fine), and I'm not too sure about any other requirements.

Anyway, I'd say your best bet is to try and leverage this program.

EDIT: The program is called the "Financial Leadership Program" -- google it

Aug 22, 2011

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Aug 22, 2011
MrAppleseed:

Good thing is you go to Baruch. Whilst a non-target, they have been cropping up on the radar this past 5 years.

I met 3 Baruch kids either interning or starting full-time in IBD at GS, JPM, and BarCap this summer.

The kid from GS had a "rockstar" resume -- GS IBD was his junior year internship, but between freshman year and then he had 3-4 front office gigs (think BB's / premiere IM firms / Boutiques).

The JPM and BarCap kids -- not to sure about past experience before landing IBD but definitely nothing too impressive or relevant.

But, the most interesting thing is all 3 of these kids landed their IBD interviews THROUGH Baruch -- specifically through some sort of on campus program.

From what I gleaned from them (and I may be off-point so take this with a grain of salt) is that Baruch has a program for undergrads with academic excellence to help them break into the street. I'm not sure if this program is an alumni network or anything, but what I do know is that the program has VERY strong contacts on the street and lands members interviews with top banks for revenue-side positions.

I also know that you have to apply / be accepted into the program. I believe there is a GPA requirement (3.5+ so you should be fine), and I'm not too sure about any other requirements.

Anyway, I'd say your best bet is to try and leverage this program.

EDIT: The program is called the "Financial Leadership Program" -- google it

I think i know who you're talking about. On topic, the program is only open to upper level sophomores..so TC can't apply to that program anymore (not to mention it is highly highly competitive). Networking and GMAT/MSF would probably be your best bet. You go to Baruch, you must have one friend that is in the industry right now, talk to them.

Aug 22, 2011

Thank you for all the advice. I would be fine working at a mm or boutique firm and would ove to find a spot for this fall but i dont know where to look for these jobs. They are not posted on my school's career site. Do you guys know where I should look for them?

"Chase excellence and success will follow"

Aug 22, 2011

Baruch might be a non-target but you guys have a strong alumni unlike my school in NYC. Network with analyst and have them pass your resume or put it "interview pile". Baruch is coming up strong, did a quick look through LinkedIN. Baruch placed in JPM, BARCAP, BMO, GS, CS (SUmmer analyst)

Aug 23, 2011
TheKid1:

Baruch might be a non-target but you guys have a strong alumni unlike my school in NYC. Network with analyst and have them pass your resume or put it "interview pile". Baruch is coming up strong, did a quick look through LinkedIN. Baruch placed in JPM, BARCAP, BMO, GS, CS (SUmmer analyst)

Fordham? Oof.

Aug 22, 2011

alumni is useless unless you have superior social skills and can actually convince them to hire you despite them having no reason to take you instead of people from richer/better families and higher pedigreed school with higher gpa. you'll need luck and social skill to get any results from alumni, and you don't strike me as a lucky person. good luck.

Aug 23, 2011
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