When your passion is beyond your reach
Just thought I should solicit some much needed feedback from WSO users. Basically I wanted to be a banker since my college days, but I haven't landed a position after nearly 10+ interviews and almost two years of job hunting. Things are fine and I am making the best out of the situation by keeping myself employed, which in this economy is more than one could ask for. That said, I feel I'm at cross-roads now and should call it quits on any hopes of future ibanking career. I would like to see what you guys think of my situation (obviously those of you who have/had jobs in the field).
1) No Ivy on resume, graduated from state school
2) A little older than 1st year analysts (I'm 23-24)
3) No stellar grades (3.4-3.7)
4) Fortune 500 since graduation, finance capacity
4) GMAT 780
5) 3 internships, all outside banking
I might have some what decent shot at a top MBA program, given my GMAT. What is the likelihood of landing an associate position without prior pre-MBA experience in the field?
Thank you in advance,
OK, you went to a non target, but your GMAT is great and your GPA is within range. What happened with these 10+ interviews? Were they all one and done or did you get to some super days? Did you try and get feedback , etc? Sounds like you have what it takes to get your foot in the door, now you just need a little more to close the deal. I think you have a decent shot at a MBA program, but I think with a little polishing you might be able to land a MMKT or Boutique position. I don't think I would give up just yet. Post your resume, maybe we can help tweak it for you.
Why weren't you able to land a job with 10+ interviews?
Do you internships show an interest in finance?
i think you have more than a decent shot at a top mba program.
it may seem that the majority of people on here think (incorrectly) that in order to get a job in investment banking/attend a top mba program you must have attended an ivy league or top liberal arts school, but that isn't the case.
you have a superb gmat and good grades, please don't question your self-worth just because you went to a state school, it's pathetic. just get a few more years of work experience before applying.
and no, don't give up on getting a banking job, you will get one eventually if you have the right attitude.
You should ask for feedback or know why you didn't get anything with 10+ interviews.
You should have tried to gone into IBD at a MM, then hopefully gotten into a BB after a few years of experience. I have a friend that went to BABSON college, which is pretty non target as it gets, networked into a very small MM, then a bigger MM, and after 3 years, she is now working as a first year analyst at Goldman Sachs IBD. She's behind in that she is working with college grads, but she got there.
Since it's too late for you (you already worked for a F500 company) it's really hard to make this switch, even into MMs. So, you should look into MBA programs because you have top notch scores. But you should still know why you didn't get anything with 10+ interviews, you don't want the same thing to happen again.
780 is more than enough, given the rest of your credentials.. I'd say top 5-10 very good shot, top 5 decent shot
Appreciate your thoughts. Seems like some of you sensed an air of despair in my language, but that was totally unintended. I was thinking to quit searching any longer so I wouldn't be 27-28 and still hoping to break into a new field. I just hate going to an interview then second round (sometimes finan rounds) and coming up short every single time. My last interview I made top 4 out of nearly 40 candidates considered for the job. The interview process can wear you down rather quickly when it becomes a familiar cycle.
Also, I have emphasized pedidgree because I know from experience Ivy graduates don't have it as hard as we do (i.e. recruitment, alumni). Now, I don't have much experience in this area and certainly never worked for a bank, so realities might reflect different than my own perception but I when I see kids with Medieval History majors working at ibanks, I readily assume they must be from Harvard or the likes. I probably shouldn't be drawing such a conclusion.
LadyEva, I did all my interviews at boutiques and MM's,except one BB. I'm generally eliminated at second or third rounds. It's 10+ interviews because I have been doing this thing for two years now.
Anthony D, I never have gotten any constructive feedback really. They usually say something along the lines of , too many qualified candidates, someone with more related experience, blah blah. Went back to my college career center to refine resume and they barely had any recommendations...
10+ interviews in 2 years...your interviewing skills must not be up to par.
Maybe not those exact words, but common. Your knocking on the door! It isn't your resume because that would of eliminated you a while ago. It isn't technical Q's because you wouldn't be getting to 2nd and final rounds if you sucked at them. Maybe your story isn't compelling enough, maybe you haven't reached out and made yourself known to that one right person or maybe you just happen to be up against stiff competition, but I really think you are too close to just throw it away. At this point you need some blunt, in your face feedback.
float like a butterfly and sting like a bee- know your stuff cold, rock the interviews. prepare for them as you would the GMAT- perfect your answers (technical and behavorial), learn the theories and their caveats, learn everything there is to know about the company, practice in front of a mirror (no, i did not practice for the gmat in front of a mirror)
i know it sounds excessive and silly, but these guys are right, the competition is stiff, and you must stand out.
that's my plan at least.
Do you mean 10+ interviews in total, or interviews with 10+ companies? (The former implies that subsequent rounds count as part of the 10.)
There are a ton of factors that go into rejections. It might be interviewing skills, or it might not. I would say keep trying, but definitely keep your head up. You might just be a victim of probability, who knows. If there are 15 interviewers competing for 1 spot, obviously it's a lot easier to be among the other 14 no matter how good you are. So even if you don't get these, that doesn't mean you're unqualified. (Plus, you're getting subsequent rounds, so it's not like you're completely screwing up either.) Competition and luck are all reasonable factors. It's also no longer a rare blessing to ace an interview either. Someone might have just stood out more, or had a finance track record that was more convincing than F500 experience. The good thing is it looks like you will have great B school opportunities. If you're still passionate about banking, you'll have another shot at the recruiting process through a top MBA program, which might get you in as an Associate. I can't speak from personal experience about how hard it is to transition post-MBA without prior IB experience, but I know for sure it's not impossible.
Also, I agree that good (interview-related) feedback is hard to get.
Actually 11-12 interviews "in total" not at 12 different companies--had 4 second rounds, 2 final rounds only. At this point, I feel that my GMAT is the only thing keeping me afloat. Hopefully, post-mba, I can try it out again (applying for class of 2013). I'm up for a promotion this spring at my job and not missing out much really, just wanted to do what I'm passionate about which is Ibanking. Oh well......
Thanks for your input. Some of you pointed out that I should be doing more research and work on my interview skills. Honestly, you guys could not have said it better. I have had something I regretted right after every single interview! I need to eliminate that.......
You obviously suck(ed) on interviews.
I'm assuming you had 10 over intervews which are for seperate positions/companies.. maybe you should re-assess your interview strategy and skills? I'm very sure your resume is impressive cause you manage to get about 10 interviews.. I guess you should read books or surf internet to find ways to improve your interview skills...
be positive alright.. good luck buddy, dont give up
I don't see the problem here. Great GMAT, above-average grades and work exp. at a F500. You'll get into a good B-School and from there you should get a job in banking if you want it and work on interviewing skills.
Do whatever it takes but don't give up.
A 780 is unheard of. Good lord. Apply to B schools and make sure to tell all the admissions people the following:
"Bow and kiss the ring"
Applying for Class of 2013 is not necessarily a good thing.
By the time you go to business school, you will only have a little less than 2 years of work experience. (Please correct me if I am wrong here.) Your 2-year exp will probably not be comparable to that of a banking analyst. Most associates without banking experience have at least 4 or 5 years of work exp before MBA. You should hold out for a bit longer to get better positioned. Alternatively, try to lateral to an analyst position after 2 years.
Why wait 2 years before becoming an analyst?
Because one year of F500 exp is probably not good enough to get you an IBD analyst position in any decent shop, especially in this market.
Hey mate... getting an MBA without at least 3 years of work experience is simply the worst thing you can do ever if you really want to break into finance.
Network as much as you can instead, and you'll finally land up something.
Good luck
780 gmat = Go top 3 mba = dream fulfilled.
now find a decent job... NOW
Jave nothing to add...just wanted to tell you I am in a very similar position....only haven't taken the GMAT yet...(taking it next month). I keep thinking the same thing all the time!
Don't worry if interviews don't always go as intended. You can always look back and notice something you should have mentioned but didn't, a behavioral story you told that wasn't as good as you thought, or something you could have elaborated more on, etc. But don't kick yourself for those. Stuff happens. Interviews can always be better and you can ALWAYS think like that, but if the overall impression is good, I think you're generally good to go.
Sorry for the thread hijack, but in a similar situation. I'm 2009 grad, currently unemployed, similar GPA with a top 30 Liberal Arts school. I'm about to take the GMAT,expecting high 600s, and want to apply to MS Finance programs. Would you consider this a waste as well without any full-time experience ( I interned at a small hedge fund)? I've generally heard the MS is OK without work experience, but I'm not sure if people just say that because you can get into them without any real experience. I prefer front-office, but will be applying to mid and back office positions as well.
Don't give up 780 is super! Do you mind shedding some light on how you managed such an amazing score? How many times did you take it?
Et dolores aliquid voluptas aut. Non repellat similique quasi ducimus esse quia. Debitis et non voluptas et quia excepturi sint.
Harum aut eius fugiat ullam quia porro. Voluptatem enim aliquam qui dicta eos. Dolorum molestiae sunt rem. Ut aliquid sit sed aut dolorem voluptas quae.
Inventore et quasi harum aut sunt. Sit eum et laudantium dolores facilis atque ut. Soluta quidem quo voluptatem eveniet ut. Nobis esse sequi ut sunt ut.
Dolor molestias assumenda optio qui quibusdam veniam esse. Est atque doloribus eum. Rerum deleniti quod nisi dolorem est blanditiis beatae. Molestiae fuga eaque libero nostrum quod et excepturi delectus. Quisquam sapiente aliquid optio omnis quia atque rerum debitis. Et praesentium aliquid rerum eveniet.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Nesciunt totam libero laboriosam. Et molestiae deleniti tenetur neque consequuntur qui nesciunt. Ad hic corporis rerum aut omnis vero. Voluptatum ullam modi neque nihil.
Iure sed id et eius id recusandae. Nulla dolore beatae ea a reiciendis repellat. Quidem numquam doloribus dolore rem consectetur sed eum.
Quis quae praesentium reiciendis eos. Laboriosam impedit doloribus laboriosam numquam est debitis quia. Similique qui laboriosam incidunt autem et. Culpa atque suscipit est voluptas eos nisi. Magni quia consequuntur quibusdam consequatur. Saepe quia et eligendi rerum molestiae ut.
Ex porro totam dolor ut. Enim error assumenda doloremque ad eveniet quisquam ea.