will graduating in five years put me at a disadvantage?

Ayce's picture
Rank: Senior Baboon | banana points 243

Hi, I'm a sophomore at Northeastern University, a non-target in Boston. They have a co-op program where students can choose to do 2 or 3 six-month long internships. Each one goes from July - December. My first one starts this July.

I want to stay in undergrad longer so I chose three, therefore my projected graduation date is May 2021 (I began in Sept 2016). I plan to cancel my third co-op in hopes of replacing it with a junior summer analyst position theoretically in Summer 2020. Will I be at a disadvantage to banks if I'm a fourth year instead of a third year while recruiting for it?

some background if this helps: 3.73, interned at a small consulting firm freshman summer, interned at a search fund sophomore fall, and will have two more additional co-op finance experiences by the time recruiting comes around. also in a business fraternity and hold a leadership position in an impact investing club.

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Comments (32)

Jan 4, 2018

Potentially applying to Northeastern and wanted to get som real feedback, can you pm me?

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Jan 5, 2018

bump

Jan 5, 2018

It doesn't matter, if the co-ops are good you might even land a job out of it. When we look at resumes we don't know if it took you four years or three or five, quite frankly it doesn't matter.

Jan 5, 2018

Shouldn't have a negative impact on you - my friend did 5 years because he was doing several majors and minors and it didn't impact him negatively. Just be read to explain why you are doing the co-ops instead of graudating on a regular time frame and you'll be fine.

Jan 5, 2018

Bump. I'd like to add on to your question: will banks look down on applicants who have applied for SA positions as juniors twice?

Jan 5, 2018

If you adjust your graduation year they won't know that you're a junior for a second year and with all the resumes they screen and the little amount of time they give to each, they won't remember your name.

Jan 5, 2018

15xEBITDA is right. Ive heard of people who have done that and been successful the second time around

Jan 5, 2018

I'd consider applying for a masters, especially if it ends up costing roughly the same as another year of undergrad.

Jan 5, 2018

My classmate worked at a bulge bracket one junior summer in BO. he networked extensively and met a lot of FO ppl. Later he delayed his graduation one year later (hr said it was okay) and worked in a front office summer internship with the same bulge. It's fine hr doesn't care.

Jan 5, 2018

Thank you all for your inputs. A bump to see if anyone else has anything to say.

Jan 5, 2018

I transferred into the Spring semester at my school (target) for the same reason. I have a lot of good work experience (military), but want at least 2 shots at SA's before trying to land a FT offer. I will only be here for 2 years, however.

Jan 5, 2018

I deferred my year and am completing internships this year (2012) so I can get a BB IBD offer. Tbh - if anything - it shows commitment and the 'hunger' they are looking for. If you think it will help I would go for it.

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Jan 5, 2018

It honestly varies from school to school. IMHO, it's best to have the same background as those who are typically being recruited for Investment Banking Positions. I'm unsure about NYU CAS but if a majority of the Finance Majors and less of Econ majors are being recruited, I would advise that you should stay another year to get the degree or you will find yourself working a less presitigous job and a chip on your shoulder.

Jan 5, 2018

As somebody who did the "transfer but take an extra year" path, I'll say it was worth it. It also gives you the chance to get more work experience. You won't look old at 24; if anything, you will just come off as more mature/confident.

I am assuming that you are a Canadian citizen, and aren't going 60k into debt every year.

Jan 5, 2018
West Coast rainmaker:

As somebody who did the "transfer but take an extra year" path, I'll say it was worth it. It also gives you the chance to get more work experience. You won't look old at 24; if anything, you will just come off as more mature/confident.

I am assuming that you are a Canadian citizen, and aren't going 60k into debt every year.

Thanks for the reply.

If it's worth anything, I don't look my age lol.

Did you ever asked about it since interviewers probably notice it on your resume? Did you even list your prior school on it? How do you talk about it in a good way (I assume I could get asked why I did not just apply there in the first place)?

Jan 5, 2018

TTT

Jan 5, 2018

You should take the opportunity to transfer. As much as I don't like the argument for target vs non-target issue, I will say that a brand name lasts you a life time and you cannot put a value on that.

Jan 5, 2018

Last bump...

Jan 5, 2018

I lied..

Jan 5, 2018

There is no real ding for being a year older when you graduate. You just have to have a better reason than, I did this because university Y has better IB recruiting than university X.

Follow the shit your fellow monkeys say @shitWSOsays

Life is hard, it's even harder when you're stupid - John Wayne

Jan 5, 2018

You're fine. Just:

-get good grades
-join finance clubs / take on leadership positions
-network a lot
-start doing internships and work your way up
- No name PWM > MS / UBS PWM > Boutique I-bank > and so on..

Just make sure you have a good story to explain the issues in your background

Jan 5, 2018

Thank you so much for the reply and for the encouraging words.
Where and when should I start looking for my first internship? I know I'll probably have to low-ball it to a local-ish non-prestigious internship but I just wanted to hear some ideas. Also about the MS, I was thinking of doing an mba over an ms down the road but I could do either or I suppose.

Jan 5, 2018

You should be trying to get an internship yesterday at anywhere that will take you on pretty much in a finance related role.

The MS in the working your way up steps isn't a master's degree, but short for Morgan Stanley.

Jan 5, 2018

Agreed. Take any internship you can get and just take it from there. And correct, MS = Morgan Stanley. Good luck

Jan 5, 2018

Unless you're staying an extra year to get a minor in finance or economics or something like that and not just taking classes, I would advise against it.

I would apply to every job that you can find. Play the numbers game. But what do you want to do in the long run? As that will help to decide what you should do in the short term.

Jan 5, 2018
Jan 5, 2018