Rejected for being overqualified?

Well thats the rationale they gave- they were looking for an entry level candidate. This after 3 rounds of interviews. I feel gut-punched. I really wanted that job and wasn't worried about comp.

EDIT: They matched me to the position, so I didn't this was even remotely an issue.

inthe213:

That's messed up. Usually they don't bother interviewing you period if too overqualified. I mean, you only have 2 years of experience which is basically entry-level still. Sorry to hear.

If you're in IB or consulting, 2 years is a good amount of experience.

poli oreos:

This 'too qualified' for the role excuse is really lame. At the end of the day, the interviewer hires the person he likes the most.

and the point of the debate is...?

there are always enough smart people out there to make you not overqualified

for FO, i don't think so; for MO/BO, definitely.

Was that English?

I think banks hire the best candidates they interview. Not sure if this is 100% true, but from my experience highly qualified candidates who have offers from places like GS and BX have offers from every single bank they interviewed with.

Nice to think of yourself so highly but no unless you had a few phd's under your belt

If you went to Harvard and have a 3.9 with a BX internship I doubt a small, regional bank would interview you.

Tailor your resume to your audience.

Agree with ANT... but more likely than not it's just the firm's PC way of saying their "just not that into you." You may want to take a moment to look at yourself as a candidate and see if there is anything you can improve on...

Just to add to ANTs point though, I don't know if it makes sense for someone like fifth third to bother interviewing a 3.9 from Yale with GS, BX, and Lazard internships.

bx or barcap summer whats your take guys?

Agree partially with ANT and Happypants. You're going to have a very hard time convincing a small regional bank that you're seriously considering them if you have BX or GS internships. However, most banks don't make judgement calls like this without at least a first-round interview. At what point are you getting rejected? If you are not even getting first-round interviews, then something might be wrong with your resume or cover letter. Good luck!

Sort of like when you get a girl that is too hot for you... and in the back of your mind you're just waiting to find the fatal flaw that caused her to settle for a guy like you.

They would probably have you in for an interview, if not just out of sheer curiosity.

It can definitely happen, but you have to be really overqualified for it. I know because it's happened to me (in the end, it works out for the best, you want to end up somewhere where you're a match/fit).

Defiantly can happen. When I was going through FT recruiting at my school I dropped my resume everywhere. My background wasn't extremely impressive, but would be on the higher end at my semi-target. While I got interviews at every BB and elite boutique and MM, I didnt get interviews at the smaller shops (Raymond James, Harris Williams, etc.)

possible but usually those applicants self-screen them from those opps

second hardbanker. If someone was that qualified they would be intelligent enough to know that they will be competitive for the top BBs and elite boutiques. They probably wouldn't waste their time going through the motions with small shops or no-name MMs. At most, it might be wise to go through first rounds and superdays with one to practice interviewing before you get in front of the firms you actually want to work for.

Could it be that if someone has an SA at a top firm (say GS/MS/Blackstone) and they are applying to a random boutique, they just assume the kid didn't get a full-time offer and reject him solely for that, not because (s)he's overqualified?

If your question is whether someone who's very competitive for a very powerfully branded bank get rejected by a bank with a less powerful brand - but both are publicly traded and very large - the answer almost certainly is no.

Have you ever rejected dating a girl because she was too hot?

What are you looking to do now?

Whoops, sorry to revive this old thread. Done by mistake.

Most of those will be very difficult to lateral from controlling. Have you considered an MBA instead? I'm not too familiar with Rotterdam's program, check out their employment reports.

I have considered an MBA, but the cost is too high for me. Is CFA a viable alternative in this case?

MBA sounds like the perfect choice due to switching careers and into a new sector without sacrificing too much positioning. Wouldn't it be recommended to retake the GMAT, apply to b schools, and go to some that provide financial aid?

Retake the GMAT. Do as well as you can. Apply to business school, get into the best program you can. You get the point. Don't let money be a non-starter before you even really know what all of your options look like.

Thanks guys, appreciate your advice!

PM me your resume - maybe I can offer some advice.

Can't offer any advice about banking, but I suggest you seriously look into consulting. Phds are highly valued at many firms. If your phd is from an elite school, you'll have a good shot at MBB. Otherwise even the lower ranked firms are a great place to be to start a career.

^This is horrible advice. Don't settle for consulting.

looks like a classic catch-22.

Why not trading? Roles on that side might be more relevant to your educational background and skill set.

There are bankers with Phds and MDs and they start as associates if they have no finance experience. You'd probably start as an associate. Try to get a summer internship as an associate. Probably your best way in other than networking.

perhaps target smaller boutique banks. they are more likely to take a non-traditional candidate

network like crazy with other Phds, but depending on your situation I'd make sure to keep my options broad. consulting isn't a bad route, and plenty of people make the switch to IBD. anything's better than ending up a cab driver.

In addition to networking, you might want to look into working somewhere as an intern, possibly for free.

Sorry for being blunt but I always felt that saying that you're too "overqualified" is just a nice excuse to say that you weren't good enough.

I don't think hes necessarily not good enough in this case. It's just that there is no natural entry point into ibd for a phd. Banks will be hesitant bc he's not an MBA. What % of associates on the street in ibd are phd and not MBA? Prob slim to none

The interviewer (head of group) was up front and said he was concerned I was only interested in the position to get into the bank and didn't want me asking for a transfer to a different department in a years time. They also were considering me as an experienced hire rather that a new analyst or associate.

Fortunately, I was asked if I'd be interested in a position within the equities group if one becomes available. I immediately said yes, but am a little worried I'll go through the 5 or 6 interviews and either get the same response or I don't have enough experience for that role. Sort of Catch-22 situation where I need experience for the role, but not considered for a junior role to get the experience.

I've come across PhD's that enter as associates. Look, you want an entry job to get the experience to land a better job if that one doesn't suit you right? Brilliant PhD guy from MIT Comp Sci actually entered as an analyst to get onto the street. Now he's back in Singapore as a VP in Private Equity. It's a stepping stone. The first step doesn't mean everything.

I cannot envision any bb bank hiring somebody with zero exp as a vp. As said earlier, target s Aller boutique shops who are more likely to take a chance on a nontraditional

I wanted an entry level job to gain experience and then hopefully get promoted, but when I spoke with the interviewers the said I was being considered for an experienced hire position, because of my academic background. The job was a hedge fund support role and the head of the group made the decision that I would make a better developer.

Make the suggestion, if you do well in your internship that's grounds for an associate position upon graduation (at least in my book).

So you graduated HS, served for 6 years, and now you are a 26 year old? Ive never met a 26 year old analyst but I think I've heard of some. Dont sweat it too much since you are a sophomore. Worry about it more if you are a junior and hear this at more than one bank.

This lady might have stuck her neck out for you. At most BBs and probably a lot of MMs, it's a violation of protocol to give feedback like that. So the right thing to do is to make your next move through her. Don't contact the interviewers directly unless she tells you it's ok.

When you face the "you're overqualified" argument, it's sometimes because the interviewer thinks you're too good for the job or because they're scared of you. You need to hit back by talking about how you really understand and respect the firm, that this is where you want to work, and that you think there's a huge opportunity to learn and grow here. Show them a healthy dose of passion and humility, and they might rethink things.

Either way, it's a longshot.

Knew someone in a very similar situation - graduated from an Ivy, working FT in a BB IBD now. Granted, he was a bit younger than you (3 years military service), but I guess that my point is that it's not impossible.

Two other things:

You do not want to gun for an Associate promotion- though they might be thinking about a potential early promotion in the back of their minds. Don't look cocky- your job is to show you think the Analyst position is a great one and that you've got a lot of respect from your interviewers.

Also get some advice from the HR lady. Sounds like she's really pulling for you and might have some insight into how these guys think.

Call her back tomorrow afternoon.

A lot of firms will be reluctant to hire you at the analyst level. If you had an MBA, it would be a different story. I would e-mail the woman with whom you're speaking (is she HR?) and explain that you're going to be in the area and would love the opportunity to come in and discuss - that you were very impressed with the bank, the people you met, and would love the opportunity to work there. Demonstrate that you aren't uncomfortable being an analyst with as much experience as you have and maye they'll come around. Good luck.

I am honestly shocked...hard to even believe...hr would "pull your file" and give you feedback. That is against almost every bank's internal rules.

I mean you can't fucking age discriminate so I am calling bullshit or the hr woman is full tard.

It's your age that they are concerned about. They might not tell you this in front of your face but I guarantee that they estimated your age by looking at your military start and end date. Telling you that you have too much experience is just saying that you're too old, it sucks but it is what it is.

Thanks for all the info guys. I honestly didn't know that telling an applicant what they could have done better was that big of a deal.

I find it hard to believe that at the ripe old age of 26 there would be a concern of me being too old for a position. Then again, I have zero experience and nothing to base that comment on. If anything, I assume it has to do with me working with 22 year olds that are senior to me, or dealing with a lot of mindless work.

Anyway, I'm going to draft an e-mail to the woman (she is not HR, but does have a hand in recruiting), and let her know of my plans to be in the area. I'll let you know how it all turns out one way or another.

Thanks again.

-NM

Keep your head up man, you'll eventually get something if this doesn't work out. Thanks for your service!

Ok, what asshole threw monkey shit at me for my above positive statement?