Hi guys, I’m in my first year at university in Australia and I’m wondering to what extent GPA will be a deciding factor in landing internships. Is there any benefit to having a perfect GPA (4.0USA / 7.0Aus) as opposed to a great GPA (3.8USA / 6.5Aus)? Is there a certain cutoff GPA that they use to filter applicants and beyond that point it’s barely a factor? Any responses would be appreciated.
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Based on the insights from Wall Street Oasis, GPA plays a significant role in the initial screening process for internships, especially in highly competitive fields like investment banking. Here’s what you need to know:
GPA Thresholds: Many firms, particularly prestigious ones, use GPA cutoffs to manage the large volume of applications they receive. For instance, it's not uncommon to see cutoffs around 3.5 or higher in the U.S. context. This threshold can vary by firm and sometimes by the school's reputation or the specific program.
Impact of a Perfect vs. Great GPA: While a perfect GPA (4.0 in the USA) is impressive, a GPA that's slightly lower (like 3.8 in the USA) is often still considered strong, especially if accompanied by solid internships, extracurricular activities, and networking efforts. The difference between a perfect and a great GPA may not significantly impact the initial screening, but it could play a more decisive role in later stages or when compared against candidates with similar qualifications.
Beyond the GPA: Once your resume passes the initial GPA check, factors such as networking, previous internships, relevant skills, and how well you perform in interviews become increasingly important. Networking, in particular, can significantly enhance your chances of getting noticed and can sometimes compensate for a GPA that's just at or slightly below the cutoff.
Advice for First-Year Students: As a first-year student, focusing on maintaining a strong GPA is advisable, but also start building your professional network and seek out relevant experiences through internships or student clubs related to your field of interest. This holistic approach will serve you well when you start applying for internships.
In summary, while a high GPA is crucial, especially for passing the initial screening, it's equally important to focus on other aspects of your professional development to stand out in the competitive internship landscape.
Sources: Does GPA matter for Private Equity?, is the gpa cut off still 3.5?, At what point does GPA hit diminishing returns for recruitment?, Easy A classes?, Why can't I even get any interviews?
Based on the most helpful WSO content, GPA plays a significant role in the initial screening process for internships, especially in competitive fields like investment banking. Many firms use GPA as a quick filter to narrow down the pool of applicants. For instance, some firms have a cutoff at 3.5, and others might set it at 3.2 or 3.3. Once you meet the minimum GPA requirement, your GPA continues to be relevant but becomes less critical compared to other factors like work experience, networking, and how you perform in interviews.
Having a perfect GPA (4.0 in the USA or 7.0 in Australia) can certainly be beneficial as it sets you apart from other candidates and can be a strong talking point in your application and interviews. However, once you're above a certain threshold (like a 3.8 in the USA or 6.5 in Australia), the incremental benefit of a perfect GPA diminishes somewhat. At this point, it's crucial to focus on gaining relevant experience, developing skills, and networking effectively to improve your chances of securing an internship.
Remember, while a high GPA can open doors, it's your overall profile, including soft skills and practical experience, that will ultimately help you secure and succeed in an internship.
Sources: Target students who don't make it, is the gpa cut off still 3.5?, Going from a non-target with low GPA to landing a hedge fund Internship, Does GPA matter for Private Equity?, Easy A classes?
Yes, there is generally a cutoff in WAMs (Weighted average marks - nobody uses GPA here), but it’s not that simple - they’re not going to consider you with a WAM of 70, but you may get considered with a 75 if you’re competitive in other aspects. There is no such thing as a “perfect” WAM here unless you’re going to a shithouse uni - nobody’s getting 100s in a halfway decent degree
marks are a box ticking exercise, not determinative. If you’re academically gifted but socially retarded they’re not going to give you a client facing role.
Adding to this point - you have to go to a good uni and do the right courses and get prior experience and extracurriculars. As has been said variously elsewhere on this forum, the local industry is relatively small and the applicant to seat ratio here is far greater than in the US/Europe
Thanks for your response. Firstly just to clarify, some Unis around Australia operate on GPA not WAM. Every course in my degree is graded from 1-7, so getting all 7s (High Distinctions) throughout all four years would result in a perfect GPA of 7.0. I understand that GPA alone isn’t getting anyone in, but I intended to clarify if, beyond a certain point, differences in GPA are relevant or not. Like a 90 vs a 100 or a 6.75 vs a 7.00, is there really any difference to an employer when it comes to their consideration for a candidates academic performance alone?
That’s great, however not the point. You will be asked by prospective employers to backsolve for your WAM. This is so your performance can be laid out against the performance of others on a like for like basis. My point was not around whether or not some unis awarded based on a GPA or WAM, but rather what the generally accepted metric was in Australia, which is WAM. I said nobody uses GPA here - that does not not mean that GPA doesn’t not exist, it means that people don’t use it as a metric.
Just to clarify, people in the local industry don’t generally take kindly to being condescended to by prospective interns.
In any event, unless you go to a Go8 you’re in for a hard time.
You’ll never be judged on your academic performance alone. Not in IB or anywhere else. it is naive to assume that to be the case - there are homeless PhDs.
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