What would you do if you were me... (senior)
Hi,
I've read through a lot of posts on this forum (which was depressing for me) and more or less concluded that currently I have no shot at landing a full time investment banking job.
Right now, I am a senior at a T10 school, with non-existent networking, a 2.8 major GPA in Statistics, a 3.1 cumulative (not even a straight upward trend, my worst semester came after my best semester), and a 1510 SAT. I applied to every single investment banking and consulting job on OCR this past semester and got 0 FT interviews.
Part of me believes that there is a real chance I will be living at home this summer. understand that I was a dumbass for doing poorly in school, I didn't exert myself nearly to what I was capable of and I understand if investment banks currently believe that I do not even "deserve" interviews. Sadly, I am smart and capable, and now I do realize I am willing to sacrifice for investment banking.
So I ask you, if you were in my position and wanted to go into investment banking what would you do? Hell, if you wanted any self-respecting job. I would appreciate serious responses. TY in advance
T_T
Delay graduating, add a major in finance or something, get a 4.0 and bring up your GPA. Network like hell, intern at some small shops to bank-ify your resume and maybe that might help. Other than that get a F500 job and work your ass off and hope for better luck when you go for an MBA.
Thanks for the advice. Some followup questions:
Is it essential to stay at my T10 school to add the major in finance? I ask because tuition is 45k+
Also, if I wanted to get an MBA solely for investment banking would it be worth the risk of getting dinged because of my previously poor GPA? I have seen posters that said that their firms still did not forgive slacking in college.
Lastly, I also want to add would a masters degree or taking the GMAT and acing it help? My parents made me take the GRE this summer if I was unable to get an internship and I got a 800 M 650 V 4 W
I really hate my life right now
yea i would delay a semester and get 4.0s...
1) If you leave your school then another semester won't really do anything since you wont be able to increase your GPA.
If you are at a T10 school you probably could get into some nice leadership programs at like GE or something. That would pay you decent money and give you an opportunity for an MBA later
You could try networking your way into IB, but it will be hard with your GPA (not impossible, but you are fighting an uphill battle).
2) I don't know if IB firms look for your undergrad GPA. Usually it is your MBA GPA they care about. A masters degree might work, but you would want it in finance or computational finance. Both are going to be hard since you have a limited finance background. If you did it make sure you get above a 3.5 or else it wouldn't really be worth it
3) I don't know GRE scores that well. GMAT tends to be most common in the USA so I would study and take those. Don't do it right now though since there is a time limit on when you can use them (someone can correct me if I am wrong, I believe it is 4 years?).
5 years...why not take the GMAT?...it shows that you know what you're doing if you do well. You would just have to hope you are where you want to be in 2-4 years. Aka if you want a PE job out of MBA you ned to transition after your 2 year analyst stint is done.
And a 3.1 with 4 classes taken per semester and your last semester(assuming you've completed all reqs) take easy classes get near a 4.0 and you can have a 3.4 (rounded) with a straight 4.0 semester (I know...prob hard to do last semester of senior year).
Delay graduation 1 semester and either add a major (if you can somehow finish it in 1 semester/summer) or just get your GPA up.
Network. Network. Network. With a T10 school your alum base is prob huge.
Or join a firm where the threshold is
[quote=MMBinNC] Or join a firm where the threshold is GPA without networking, I was SOL to begin with. Even coming from a T10 school some companies seem to be pretty strict with their GPA requirements sometimes the 3.3's and 3.2's don't budge.
Due to a miracle I do have work experience following my sophomore year (not banking related), but I was a dumbass and turned down coming back to try banking. Fortunately I was able to put in research time and I will have a thesis when I graduate.
I will take the GMAT and have a conservation with the folks about extending school an additional semester, but I think my parents would rather me be unemployed than pay another 45K.
As far as networking goes, I'll try my best to get in touch with the alumni base, would you suggest sending them an e-mail explaining my situation or being more informal and just wanting to "talk." I feel the latter is kind of duplicitous because in reality I want them to give me an opportunity.
I used to joke with my friends about how I hate the term networking and now it seems I need it to save my life.
Regarding the networking, I'd do the "just wanting to talk" piece. There's a few good forums on WSO that cover this.
I would also buy some interview guides if you actually get an interview. So you know what the people are looking for/knowledge that a statistic major may not know about finance. IMHO a math major with
Another question: When all the IB's come to poach sophomores and juniors at my college for summer internships, should I go to those networking events? I think it could be valuable, but I will also be seen as that idiot that didn't network a few months ago and like one of the other threads mentioned needs a "clue". Granted, it's not like what I have done so far HAS worked.
I was in your boat: T10 school with a low GPA (HF/VC firm website, starting with alumni from my school. Literally, I would go website by website, bio by bio and hit up my university's alumni. It may have seemed ridiculous at the time, but I have a job out of it, so I look back on it as necessary hard work.
(Edit: If you go to CalTech, throw all that out, because CalTech may honestly not have many alumni in banking to whom you can reach out. In that case, do what you should do and join the NSA or NASA.)
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