Low GPA success story
i'm at a semi-target and I'm getting super discouraged with this recruiting process. i have a 3.3 GPA and even with networking, getting first round interviews is difficult.
is there any of you out there who was actually successful getting a "decent" IB internship/job like 3.3. ish area? please PM me or something, I'd love to talk
Also interested as I'm in a similar situation
I was non-target and similar GPA. It took quite a bit of time to finally get an interview, let alone a job.
Broke into the industry by cold calling the president of a boutique investment bank. Told him specifically why I was interested in HIS company. I did a ton of research on the deals the firm did, who the buyer was, the strategic rationale, commented on his website, had prepared list of thoughtful questions about their transactions, etc.
Nothing generic, no emails. Cold calls for days.
Landed a lateral through the same method.
I broke in with a 3.3. I didn't think it was too hard but then again I probably got lucky. I hope lateralling is gonna be easier. It is interesting that now that I'm working, I have had other banks try to poach me. Never really felt like a great candidate before but once you have marketable skills, its different. Just network a ton. So long as you aren't below a 3.0, there are definitely people out there who will lend a hand.
It's still gonna be difficult and I really wish I tried harder in school. A low gpa is a huge eyesore on a resume, and it really is one of the best screening methods for candidates. Not everyone can overcome it, but obviously don't give up. Keep hustling and things should work out eventually.
did you just network extensively? Also, when you networked, did you mention the low GPA? what i've found is that I networked with people and they asked for my resume and then I just hear nothing back. maybe it's better for me to give a heads up?
pm me
Have 2 super days coming up with a 3.25 GPA semi-target.
Gotta convince them that you will do whatever it takes get a deal done. (Drive)
Don't give them a reason to doubt you besides your GPA.
Know your technicals. Know your firm. Know yourself.
I had a low GPA but took a less prestigious entry level role but made sure it was on a deal team. If you strike out in IB, it’s important to find something with high potential to lateral: ECM, DCM, corporate banking, equity research, etc. I see people on here talking about working in Goldman’s middle office accounting group rather than going to a regional bank to do corporate banking. Personally I’d take the job with transferable skills, not the brand name
After you get some work experience, it’s much easier to lateral
I would say a few things:
1) it is going to be hard. Just know that and know that while it is hard it isn’t impossible. Put yourself in the shoes of the firm hiring, there are so many target school resumes with top grades and approach your strategy with that lens. Why should they hire you? What are you going to bring to the table that others won’t? Why should a firm believe that while you didn’t do well in school that it’ll be different on the job? I’m not saying it won’t be, I also don’t think GPA is the end all be all, but you have to find a way to get people comfortable with choosing you over another candidate.
2) be specific. Applying for everything and emailing everyone without having done research on the firm, role, industry, etc isn’t going to work well. You will have a few chats with people and won’t make a lasting impression. Learn about the roles and spend more time targeting the high probability bets rather than spending a little time just applying everywhere.
3) don’t get caught up in the “any finance or bust” hype. Think about what you want to do, what you want your days to look like and what is motivating you. Finance (even IB) is a very broad term and the roles (and firms) can be very different. Start with what you want to be doing and where you want to end up and use that to guide your search. There are many roles and industries that you might enjoy (very overlapping problems). You also run the risk of ending up at a poor firm or role if you are only concerned with having “IB” on your resume.
4) along with #3, play the long game. While not getting the perfect role out of school is definitely a set back, start thinking about what you want to be doing in 5 years and then look for career paths (what role? What companies? What industries?) can get you there. As another person mentioned, transferable skills are key, but don’t think that only exists in IB (highly dependent on which part of IB you want to be in). But as an example if your long term play is PE or HF try to think about what will get you there, look at data analysis, financial modeling, economic consulting, etc etc.
Like I said, it isn’t going to be easy, but I know several people who didn’t have the “right” job out of school and are in senior positions at many top “brand name” firms in IB, PE and HFs. Good luck.
Go IB and then PE internship with sub 3.5. Got FT PE Job out of undergrad. Probably sent out north of 500 emails to get my first internship and I had made a CIM for a take-private and complete valuation of a public co that I attached to all my cold emails.
I made it into a top group at a decent MM IB firm with a 3.2 GPA from one of my firm's "core" schools.
This is likely due to luck -- i only listed my Core GPA (basically all the business classes) which was a 3.7, and my firm doesn't require transcripts and the topic of my GPA was never broached in interviews/conversations. If you have this optionality and a better major GPA or something similar, i would only list that.
I am curious to see how my low GPA will affect me when i start recruiting for private equity because I'm sure they'll require my actual transcripts. Hasn't dinged me yet, though.
Possible but very tough. I can speak from experience on this one. The main goal is to get the firm comfortable with your abilities to perform on the job. If you're not let in through the front door to prove your worth, that doesn't leave you dead in the water but means you will need to find another way in. Below are some ways in which you can bypass the system - although this is not an all-inclusive list, I hope it at least serves to get some creativity flowing.
1.) Internal Voucher: Get to know someone really well inside a firm, and try to get into a situation where you are working closely with this individual. Maybe offer to do work after hours for free in order to help him out and prove your abilities. The goal is to get the person to vouch for you when your time comes to sit in the interview seat.
2.) External Voucher: Get to know someone really well who has connections with other financial firms. As before, work with this person to show your abilities and get them to recommend you as a hard and intelligent worker to someone in a firm you would like to work for.
3.) Aim Low but in the industry: You may not be able to get into a top firm, but that's okay. Spend a 1-3 years working at a boutique shop honing your skills. Use that as a trampoline to bounce off to a better and bigger firm.
4.) Aim high but out of the industry (lateral): Maybe you can get a job in the big firm, but not in the Investment Banking division - that's okay too. Spend 1-3 years kicking ass in your division and network with the IB department on your floor. When the time is right, see about lateraling onto the IB floor. The firm does not want to lose good people and will lateral you over losing you if you're valuable.
5.) Grad School (MBA): Go to grad school and hit recruiting hard in the fall. Try to get an internship in IB before going to your MBA program. Utilize your "Entering MBA" status as your ticket into a small firm - offer free help - and get IB on your resume. Will help considerably with fall recruiting.
I would emphasize #2 on this list, and I found it much more realistic. People in business often have connections in IB, and hearing someone a banker already respects speak highly of a candidate can go a long way. I had my friends dad (known me forever) email his friend at a solid bank, and he just said like super nice things about my character and that he would trust nobody more than me, etc. but like nothing business related. Got an email from the person he emailed to set up an interview the next week. People don't talk enough about #2.
I am on the same boat - I'd says what helped me land a couple of interviews is purely networking - coffee chats (not just informational calls). In-person meetings will definitely have a better impact. Think about it, if you're sitting in front of the person and sharing your story they are less likely to be staring at your GPA while talking to you which you might expect on phone calls. At the same time, taking time and effort to take trips shows your dedication to get the job on your own dime which goes a long way!
I didn't have a low GPA but still struggled to break into the industry as I had an unconventional major. What helped me is doing an unpaid MBA summer internship at a family friend's boutique investment bank. That at least gave me the story and cred to get BB interviews. Sometimes people need a story, so you can work to organically rig one up. Good luck!
You need a very compelling story about why you. I had the same GPA at a major non target and attended networking events and insight series stuff. Told people what I was about and what I can deliver. Your story is your brand so make sure it’s authentic and powerful. Helped me land a summer doing IB and now doing it full time.
It’s def not easy but confidence is key. Believe you can do it and be open to changing your course if you don’t land the job you want. It’s about where you end, not start.
Went to a semi-target and had a 3.3 as well. Landed at a top MM bank and getting decent traction in LMM PE recruiting.
Graduated with an MSF from a semi target after leaving undergrad with a 2.5. Left grad school with a 3.3 and networked my way into a small M&A focused internship for the summer. Took the opportunity extremely seriously and tried to absorb as much as I was able to, and after eventually getting a call back from a BB, I was able to impress them with my knowledge of the industry in spite of what my GPA would suggest and am starting this coming Monday.
Take it 1 step at a time and realize there might be more steps involved than you initially anticipated. If you put in the work eventually someone will notice.
Good luck!
Other aussies reading this able to help me understand how a 3.3 is at all low? In Australia this would be an extremely competitive gpa.
Are Australian unis hard???
I've heard that American universities participate in something called "grade-flation" ... i don't know enough about it though.
You can always check out my WSO blog in adversity-breeds-success
TL;DR -- think about coming up via development instead of quant or analyst spots.
Screwed up in college, great career. Old story, but still holds true. Don't let setbacks define you. They can make you stronger and can open up new possibilities or you can surrender.
I went from college dropout to the military to just scraping by undergrad to a series of power jobs with an IB and top hedge funds. Now working in tech. Being recruited hard by Google and Facebook and Twitter and Waymo (and still get top PE firms calling weekly).
PM me if you want to chat. I've done some mentoring with some WSO undergrads who ended up in great positions after a rocky start.
Message me, if you want
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