Venting and feel like i need advice about getting into IBD

Goldman Sachs / Finance
Wall St

Go to company page Goldman Sachs Finance

Wall St
Nov 4, 2021 42 Comments

Mainly writing this post just to vent. I graduated from college back in 2017. I did an internship in investment banking but didn’t get a return offer due to headcount issues. I tried getting another full time offer but failed in doing so and had to resort to contract roles with other firms doing risk management and operations. I hated it, and still wanted to get something in banking. I also learned about what i dont like and about the skillsets that I like which revolved around financial modeling, credit analysis, and analyzing companies and sovereigns to see how they’re performing.

Furthermore, i got laid off from one of my contract roles, which really sucked even though I didn’t like the role. I ended up getting another offer with another bank a few months later which turned into a full time offer. Offer wasn’t in the division or team that i wanted but was happy and grateful that i was able to land a full-time gig. After about a year of this current role I switched to a slightly more quantitative role so i can get a bit closer to investment banking. Throughout all this, i have been rejected probably around 1,000 times or more who knows.

Currently, im still in the slightly more quantitative role that i mentioned above, which provides good visibility and exposure. However, the team is not the best at least in terms of culture, and I get a feeling that I will get laid off soon. Additionally, i am continuing my search for a banking or at least more banking related role, both internally and externally, and I have gotten 2 interviews from two different firms so far. I think my interviews went well but still feel defeated when I remember all the rejections i have gone through in the past. Dont get me wrong, i’m very happy with all my successes, just saying that sometimes i feel defeated when i think of the rejections i have gone through and how i may potentially experience that again now that im continuing my search for banking again. But I know i have to continue pushing hard and will definitely do so as im no quitter. The other thing thats stressing me out is that I potentially may get laid off, so not sure how that will affect my recruiting process if i do end up getting laid off before attaining an offer.

Overall, I really needed to get this out of my chest. I welcome any advice that anyone has to offer as im always looking for ways to grow and be a better version of myself. Also, anyone that knows of any places looking for analysts preferably in IBD financing teams please let me know.

To anyone who made it this far and read the whole thing, Thank you.

#morganstanley #ibd #houlihanlokey #advice #recruiting #finance

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TOP 42 Comments
  • You need some reality check! You can’t even survive your contracting roles…
    Nov 4, 2021 4
    • Goldman Sachs / Finance
      Wall St

      Go to company page Goldman Sachs Finance

      Wall St
      OP
      Thank you! I really appreciate that. Im going to do a full 360 and really bring my A game. I think i’ve been too focused on getting these IBD roles that im forgetting to perform well in my current role. I will definitely put a focus on performing really well in my current role while also continuing the grind. Thank you for your advice, I really do appreciate it and will put it into action.
      Nov 5, 2021
    • If you aren’t in the top decile of your peer group, it’s unlikely that they will accommodate a transfer to IBD or SecDiv. Your interest in IBD will be usurped by past performance, ten-fold.

      Also, consider working long hours, as they do use badge swipes as a proxy for dedication, unfortunately. Do your current job well, network, and then worry about internal mobility. It will always be there. Good luck.
      Nov 17, 2021
  • Goldman Sachs / Product
    Sazafras

    Go to company page Goldman Sachs Product

    Sazafras
    If you really want to move to IBD, then you need to bust your ass more. If you’re still at GS, there is a formal IBD internal mobility program. But you first thing’s first, you need to network like crazy. Meet jr members on teams and learn what they do. Have them introduce you to their colleagues and bosses and grow your understanding and network. Create a strong relationship with them and make them aware you’re hungry for the role. You’ll be on their mind when roles open up. But most importantly, you need to perform well at your current role or you’ll get shut down most likely.

    I moved internally from the Federation to IBD with minimal, if any, experience in common between the roles.
    Nov 4, 2021 3
    • Goldman Sachs / Product
      Sazafras

      Go to company page Goldman Sachs Product

      Sazafras
      Sounds like you’re on the right path. Try to be memorable (in a good way) in these catchups. Demonstrate your interest and understanding of capital markets, but the majority of the time they should be the ones talking answering your insightful questions. Goodluck!
      Nov 9, 2021
    • Investment Management Firm
      iTjw16

      Investment Management Firm

      iTjw16
      Totally agree with this. Though, if this doesn’t work, try looking at boutique M&A shops. They’re a bit easier to get into.
      Nov 10, 2021
  • Amazon
    pmting

    Go to company page Amazon

    pmting
    Btw doing a full 360 means you'll end up back where you started
    Nov 8, 2021 2
    • Goldman Sachs / Finance
      Wall St

      Go to company page Goldman Sachs Finance

      Wall St
      OP
      Oh no thats not what i meant. My bad, I probably wasnt clear. I mean that I will bring my A game in my current role as well. Meaning i will give it my all and do really well. Doing this will probably make it a smoother transition getting into banking
      Nov 8, 2021
    • Amazon
      pmting

      Go to company page Amazon

      pmting
      No worries, I was just being a cheeky c*ntI wish you the best of luck
      Nov 8, 2021
  • Google
    59aqi

    Go to company page Google

    59aqi
    Why don't you come work at a company like Google in an FP&A role? You will make more money per hour, work less and have a life outside of work.
    Nov 8, 2021 2
  • Try LeetBank to get better at interviews
    Nov 8, 2021 0