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26 Aug 2009, 08:07
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I wasn't going to make a new thread but maybe I might get a taker looking at a new one.
has anyone heard of landing a full-time position at a bulge bracket in the last 2 years without an ib internship, even at a different firm? in short my answers have generally been no, but everyone has a story of someone who has pulled it off. i've had little help attacking this possibility from anyone as most of our career office is focused on getting your run of the mill, good in any other year student a job this go-around. I'm a part timer at an ultra-elite and have 7 years of trading and capital markets back office management experience. i'm going to end up with plenty of concentrations including quantitative/analytic finance, accounting, and statistics and will have fairly good depth of knowledge on valuation from several angles and asset pricing in fixed income and derivatives.
my concern is that given the timing of finishing this upcoming academic year, its not going to be enough. i understand that based on several other factors of myself it might not necessarily be enough in the first place, but i'm basically talking myself out of even giving it a go.
other possible angles ot pursue are possibly a spring internship as i graduate in mid-march or applying to the regular internship program and attempting to get a late start date? both of these seem to be a stretch as i think the spring program, only offered by a few, is aimed at analysts and i'm not sure any offer flexibility in start dates and if they would consider a situation where an intern can go right into the fulltime workforce. seems to be too much working against me when they have the pick of the litter of standard applicants.
doable at all? anyone offer any advice, feedback, or success stories? my guess is i'm going to have to nail everything about the recruiting process and have the endorsement of a powerful vp or higher from my network sign off on me.
other option is to start in research and try the back door later down the line, but at 29 it seems less appealing to delay starting an associate position 3-4 years down the road.
has anyone heard of landing a full-time position at a bulge bracket in the last 2 years without an ib internship, even at a different firm? in short my answers have generally been no, but everyone has a story of someone who has pulled it off. i've had little help attacking this possibility from anyone as most of our career office is focused on getting your run of the mill, good in any other year student a job this go-around. I'm a part timer at an ultra-elite and have 7 years of trading and capital markets back office management experience. i'm going to end up with plenty of concentrations including quantitative/analytic finance, accounting, and statistics and will have fairly good depth of knowledge on valuation from several angles and asset pricing in fixed income and derivatives.
my concern is that given the timing of finishing this upcoming academic year, its not going to be enough. i understand that based on several other factors of myself it might not necessarily be enough in the first place, but i'm basically talking myself out of even giving it a go.
other possible angles ot pursue are possibly a spring internship as i graduate in mid-march or applying to the regular internship program and attempting to get a late start date? both of these seem to be a stretch as i think the spring program, only offered by a few, is aimed at analysts and i'm not sure any offer flexibility in start dates and if they would consider a situation where an intern can go right into the fulltime workforce. seems to be too much working against me when they have the pick of the litter of standard applicants.
doable at all? anyone offer any advice, feedback, or success stories? my guess is i'm going to have to nail everything about the recruiting process and have the endorsement of a powerful vp or higher from my network sign off on me.
other option is to start in research and try the back door later down the line, but at 29 it seems less appealing to delay starting an associate position 3-4 years down the road.
26 Aug 2009, 09:34
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Can't see how research would really lead you through to IB, more to the buyside.
I am a little muddled on what you are looking to do - you mention FI & derivatives, which no Investment Banking student ever shows the remotest interest in (they might have a dabble in options, simply to try and see values in restructuring and bankruptcy). Research might lead to S&T, but I don't see how it would feed in to IB at all, certainly not quickly (perhaps maybe in healthcare?)
It is certainly tricky without an internship, but you haven't had the opportunity being PT. As you are at a firm, why can't you speak with them? That might be your best lead.
I do know of some firms that have taken IB associates without internships, but that was before the new world order happened. The real issue now is that there are a lot of people with experience and their licenses who are out of work.
Not sure how you are at an Ultra Elite PT program either, but that is by-the-by.
I am a little muddled on what you are looking to do - you mention FI & derivatives, which no Investment Banking student ever shows the remotest interest in (they might have a dabble in options, simply to try and see values in restructuring and bankruptcy). Research might lead to S&T, but I don't see how it would feed in to IB at all, certainly not quickly (perhaps maybe in healthcare?)
It is certainly tricky without an internship, but you haven't had the opportunity being PT. As you are at a firm, why can't you speak with them? That might be your best lead.
I do know of some firms that have taken IB associates without internships, but that was before the new world order happened. The real issue now is that there are a lot of people with experience and their licenses who are out of work.
Not sure how you are at an Ultra Elite PT program either, but that is by-the-by.
26 Aug 2009, 09:57
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I think there's a bit of overlap with some FI pricing issues, but I would utilize it more to attest to quantitative skills etc. I'm not at a full-service or IB right now, I'm at a brokerage house so no luck in pursing anything like this here.
As for ultar elite, I guess I should say I'm in the PT program of a school considered as such, not that the PT program is ranked like that. I haven't come across anyone that has paid attention to a PT ranking vs what they know about the program as a whole.
As for ultar elite, I guess I should say I'm in the PT program of a school considered as such, not that the PT program is ranked like that. I haven't come across anyone that has paid attention to a PT ranking vs what they know about the program as a whole.
26 Aug 2009, 10:08
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Sorry - my fault. I was really thinking of the H/S/W as ultra-elite (as I am wont to do).
Are you prepared to move to NYC? The possibilities in regional IB roles are a little trickier, and right now I know Chicago and other cities have taken some pretty heavy cuts.
Are you prepared to move to NYC? The possibilities in regional IB roles are a little trickier, and right now I know Chicago and other cities have taken some pretty heavy cuts.
