Seeking Advice on Off-Cycle Placements for Undergraduates
Hi everyone,
I’m currently pursuing a Bachelor of Business with a finance major in Australia, and as part of my degree requirements, I need to complete 12 months of placements during my penultimate year. It’s recommended to stay with the same company, but I’m also open to doing two six-month placements.
I’m reaching out for advice and experiences from anyone who has been through this process. While managing a full-time study load (around 20-30 hours per week), I’ve also worked full-time in automotive sales (about 55 hours per week) and volunteered with a student organization (up to 15 hours a week). My GPA is a 3.0 on a 4.0 scale, with an average mark in the mid-70s. I feel confident in my foundational knowledge and I possess a broad skill set. Ultimately, I aspire to work in investment banking or a related field, despite my academic performance.
If you’ve gone through a similar experience or have advice to share, how can I enhance my chances of securing one of these placements? What strategies did you use to prepare for interviews, particularly for on-demand video interviews? I recently completed one for Morgan Stanley in Sydney and found the post-interview feedback helpful. Do I stand a realistic chance of being considered by larger firms? Is it advisable to reach out directly to contacts within a company these days? I’m ideally looking for a start date between July 25 and September 25.
Thank you in advance for your help!
Best,
Vasile
One response
Hi Vasile,
It’s great to see someone so proactive about securing placements while juggling your studies and work commitments! Here are some strategies and tips that I think could help you maximize your chances:
Tailor Your Applications: Customize your resume and cover letter for each application. Highlight your relevant skills and experiences related to finance, even from your automotive sales role. Emphasize your ability to work under pressure and manage time effectively, as you’ve demonstrated through your busy schedule.
Networking: Yes, reaching out directly to people in the companies you’re interested in can be very beneficial. Use LinkedIn to connect with professionals in the investment banking sector. Politely express your interest in their work and ask for advice or insights about applying for placements. This can lead to referrals or at least give you valuable information about the company culture and hiring process.
Preparation for Interviews: For video interviews, practice common questions related to your skills and experiences. Focus on situational or behavioral questions (like the STAR method: Situation, Task, Action, Result) and prepare clear, concise examples that show your suitability for the role. Also, make sure to present yourself well on camera—dress professionally and ensure good lighting and sound quality.
Research and Mock Interviews: Research the companies you’re applying to thoroughly—know their values, recent news, and key projects. You might also consider setting up mock interviews with friends or mentors to build confidence and receive constructive feedback.
Broaden Your Search: While you might aim for larger firms, don’t overlook mid-tier or boutique firms. They can also provide valuable experience and might have less competition. Additionally, look into internship programs specifically aimed at students with your profile.
Follow-Up: After interviews, sending a thank-you note to your interviewer can leave a positive impression. It’s an opportunity to reinforce your interest in the position and reflect on something specific discussed during the interview.
Stay Positive and Persistent: It’s common to face some rejections along the way. Keep persevering and apply broadly; even if a position at a smaller firm or with slightly less prestige isn’t your ultimate goal, it could provide you with valuable experience.
Lastly, keep studying hard and aim to improve your GPA if possible, as this can strengthen your applications. Good luck with your search, and don’t hesitate to reach out to your university’s career services—they might offer additional resources or connections!
Best of luck!
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