The rule of thumb for college kids when breaking into the business world is this: if you don't have a job offer waiting for you by the time you graduate-- you're too late.
The reason for this is because business is a soft major where school prestige, school ranking, internships, and networking weigh heavily on post-graduation placement so all the job searching legwork has to be completed strategically and prior to entering the real world. As a student, you have the opportunity (and advantage) of being an intern, but as a college graduate you're just another unemployed candidate in the eyes of the companies. Business isn't a hard major like engineering or programming where job placement is determined by technical expertise although those also require a certain level of networking and interning.
With that said, I would consider the following:
- Leveraging his college career office for leads, openings, and networks. College career offices have opportunities fed to the from alumni who prefer other alums which gives an advantage.
- Industries outside of banking such as health care, technology, or retail to expand the pool of opportunities he's applying to. He can accumulate the experience he needs then lateral back into banking.
- Positions in less desirable areas (rural, low population areas) have difficulty with attracting and retaining talent because no one wants to live there. If he's willing to bite the bullet, he can be competitive in markets where they have barely any applications for open positions.
- Learning SQL and Excel. There are online classes that teach these high in demand skills and they'll jump out to companies on a resume. Business lives and dies on big data and data analytics, being able to draw insights from large data sets will position him well for any industry.
- (Last resort given the cost, time, and effort) Attending graduate school (a 1-year program) and making sure he prepares better this time around.
If you want me to review his resume (with his personal information removed) and give my feedback, feel free to reach out via private message.