Should I transfer colleges again?
I attend NYU, not Stern though, having transferred from an academically excellent nontarget (think JHU, Carleton, Swarthmore).
I love being an NYU student. Living in the city and attending NYU has given me long-awaited happiness and extraordinary access to finance professionals and career resources at NYU. However, with such a large number of students recruiting for investment banking jobs at NYU, mostly from Stern, I have a very hard time getting targeted opportunities and even coffee chats, with my overall response rate hovering over 8% while exclusively emailing alums (which includes Stern alums), having sent more than 100 emails.
I have a 4.0 GPA, participate actively in career events and extracurricular activities (active in 2 Stern clubs), have two internship experiences--doing ER in the IBD of a large Asian bank and in a no name boutique and is actively looking for a sophomore summer opportunity through cold emailing.
Having already externally transferred to NYU, the school bars me from internally transferring to Stern. Additionally, having a list of almost every NYU alum working in BB/EB/UMM, only very few of them are not from Stern. I'm also an international student who would require sponsorship to work in the US, further decimating my chances. Therefore I feel very bleak about my chances of breaking into a BB/EB/UMM in their IBD.
My heart is not dead set on IB, but I love the unknown and challenging nature of IB, and I know I have no interest in S&T or accounting. Hence I'm not too sure what to do right now because I've given myself too much pressure on breaking into IB. My home country has very little opportunities so it wouldn't be possible for me to pursue that route. Given my circumstances, should I consider transferring colleges again. If not, what alternatives do I have to maximize my chances of breaking into IB.
Thanks in advance.
Wait so you're a sophomore and you've already done 2 IB internships?
They are grouped under IBD but in reality they are ER though.
I'd argue that you would actually have an easier time breaking in from JHU/Swarthmore than non-Stern so probably Carleton? NY definitely has the most opportunities for international students. In fact, many BBs only sponsor for their NY office. So in that regard, you are right where you should be. I would not recommend transferring again as your time would be better spent networking and building relationships in the city, especially seeing as how recruiting is becoming more and more accelerated (as early as March for Summer 2020).
Keep at it and good luck
Thanks for your long answer. In fact I asked about this exact question before transferring to non-Stern on WSO a few months ago. I absolutely hated my first school, and I wasn't sure if I can pull off living another day there let alone a year. The thing is I have been getting a very low response rate from alums (I've been exclusively emailing alums while getting a 8% response rate), and I have been rejected by all targeted opportunities that my Stern friends got into without networking, while I networked. This is reason I'm considering another transfer application. I'm still not sure if it's right though. I don't mind doing another year of undergrad.
Prioritize finding good mentors within Stern and non-Stern (probably more relevant) who have successfully (emphasis on successfully, they should have offers from banks you want to work at) recruited for IB. You are already playing catch up by nature of transferring and missing a year on campus so having clear guidance (understanding the nuances of OCR) should make recruiting very straightforward. Most of the offers I received (including the one I ultimately took) were not through OCR but rather through cold emails. Regarding the response rate, make sure your emails are concise (like 3-4 sentences max) and contain your resume. I did this and had a very high response rate even from non-alums. You can transfer again if you really feel strongly about it but it seems like you're enjoying your time at NYU. There is nothing wrong with taking another year if you can afford it (make sure there aren't any visa conflicts). Keep in mind that NY classes can be over 10 x the size as those of regional offices. I personally think the odds are in your favor
Thanks. I actually have been doing just this, but still getting a poor response rate. Is it because I ask for an initial coffee (since I am in NYC) instead of asking for a call before a coffee?
I'll still keep the transfer route open, probably applying to 1 or 2 schools and decide on what I should do next.
You can PM a draft and I'll try to provide some feedback
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