Candidate Blog: I interned in New York, have great grades and want to work in i-banking, but I'm stuck in fin planning selling super to mums and dads

During my graduation ceremony from a Sydney university in 2009, the chancellor mentioned in his speech that our lives were just about to begin. We should embrace the world and enjoy the fruits of our studying labour. Having completed my double degree (commerce and economics), I took this at face value, and begun a whirlwind overseas trip to find my calling.

Back when I was studying, I worked as a part-time business analyst for an independent IT company where I developed a passion for big business and the corporate world. After speaking to friends and reading many blogs, I discovered that I wanted to become an investment banker. Landing a chance internship at a mid-tier investment bank in New York during my trip cemented my love for corporate finance.

Upon arriving back in Sydney, broke and in need of a job, I thought that I would have no problems securing a junior role within an investment bank here. My grades were D/HD average and now I had an overseas internship, as well as various extra-curricular and leadership roles under my belt. Naturally I was excited about what lay ahead of me.

The i-banks aren't interested

I contacted two high-profile recruitment companies and was assured that I would soon land a junior role as a result of my personality, grades and CV. But three months passed without a single interview with a bank.

My credit card debts and everyday expenses were piling up, so I had to take the next position that became available: financial advisory. I got a job with an independent financial advisory firm, primarily working with mums and dads - a stark contrast to where I wanted to be, but still within financial services. I thought I would pay off my debts, save some money, and try again soon within banking.

Fast forward 18 months, and I am still in my bind. I have been told by many professionals that because I have been working in financial advisory for more than a year, most employers will pigeonhole me as a financial advisor.

Don't get me wrong, being a financial advisor is a great job, if it's what you want to do. However, there is only so much selling personal protection (e.g. life insurance/income protection) and reviewing superannuation (e.g. rolling multiple super funds into a predetermined fund) that a 25-year-old can take.

Corporate finance is still calling me

My heart lies with corporate finance. Working in New York opened my eyes to the bigger and faster world that I was told by my chancellor to embrace. I have recently started studying for my CFA Level I (December 2011 exam), in the hope that completing a post-graduate qualification will enhance my credentials, thus optimising my chances of landing an interview within a global financial institution.

The eternal optimist in me is saying that all my hard work and networking will pay off, however, the last year has shown me that the job market is extremely weak, especially for graduates who have not completed a summer internship in Australia. I have interviewed for various roles in Sydney and Melbourne, but the plethora of unemployed graduates that I have seen suggests that there is a significant deficiency in the labour market.

I understand why so many international students in Australia move back home after graduation. If a guy like me - who went through private schooling, and has a double degree, strong academic achievements, and an overseas internship - cannot land a junior banking role, what hope do other graduates out there have?