Which person would you rather hire?
I am currently a gap year student from a non-target. During this gap year, I aimed to do 2 long internships, that would help me build a path toward a role in L/S equity HF, before finishing my degree.
I managed to find a first position as an analyst in a small HF and I have been in this position for 5 months. However, due to, I presume, a lack of capacity of selling myself, I got dinged in all my interviews (mainly in mid-sized and small HF) and could end up without any second internship. It clearly affected my confidence but at least I learn something from these rejections I guess.
Now, I have still a little bit of time to find a position in HF/AM/ER but I am clearly considering the scenario in which I do not find any. I am considering 2 paths:
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Either I try to find an internship in a role that I don't want (think MO, risk..), and go for it if I get accepted. (this probably implies more grunt work and less learning than the second option but probably more marketability).
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Or I don't find any but use my time to secure the CFA L2, build up some ER reports and more models, improve my coding skills and perhaps find a 2-month unpaid internship in a role I like or take a GMAT exam to put an Msc of a target school on my CV. (I already study for CFA L2 but with 60h+/ week I don't have much time to do the other things seriously).
This yield to 2 different types of CV for end-of-study internship and FT hiring. Which person would you rather hire?
I don’t know the specifics of your situation so this may or may not apply to you / align with your interests:
If you ultimately want to be on the buy side for a first FT gig (and do well once there), I would probably think there’s a greater chance of success in that by aiming high for a masters program first as a stepping stone (since you mentioned it I assume you could justify the cost… but I could be wrong).
Generally speaking, a strong graduate program:
I think if the above sounds up your alley, one way to spend the remainder of your gap year might be this: Instead of CFA lvl2 (really not needed for an undergrad, can wait for FT to do this), try channelling the 60+hrs/wk into studying hard for GRE/GMAT and really looking into the different programs you’d be happy to see yourself at. If you’re driven to succeed and do that you can get into a respectable school (assuming acceptable grades).
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