Junior Year SA Recruiting Chances
Am a sophomore right now at a target
Was wondering what you think my chances are to get a lot of BB SA interviews my junior year
-School: Target
-GPA: 3.6+
-Major: Finance, Econ, Minor: Math & Comp Sci
-Leadership: Dean's Advisory Board, VITA Committee - Business Honors Society
-Freshman summer internship: Interned under a financial advisor
-Sophomore summer internship: General Motors Treasurer's Office - NYC
-Other activities: Multiple Case Competitions, possibly UBS Sophomore Symposium and Bloomberg Analytics BootCamp
Any feedback would be extremely helpful
Wow, I dunno it's a longshot for sure. What's really glaring is the lack of leadership positions.
-alright, I updated it. Not sure if your comment was supposed to be sarcastic or not
Jesus kid I was kidding. The fact that you know you're at a target means you know you have a good chance. If you ask a question to try to make you feel like your dick is bigger, I'm gonna give you a fuckhead answer.
touche, just hard to tell sarcasm through a computer.
But at the same time I don't think my chances are all that great... because most of the older kids I know here all did sophomore gigs at GS, MS, JPM, Blackstone, KKR, etc..
Nobody can chance you as the process is a complete crap shoot. However, it appears that your resume is competitive. Do what you can to pull up your GPA this semester (yes, it is not bad, but it could be higher) and start networking with alumni.
.
Look, it depends where you go, and how many first round interview slots there are. That resume wouldn't get you a ton of interviews as my target (not because you suck, but because it's insanely competitive). There are maybe 16 first rounds per bank, and you'd be a bubble candidate. Like, your stats would be good but not great. At NYU Stern (I don't go there FWIW), I doubt you'd get ANY looks from the BBs without networking. It's just fucking hard. There Stern kids every year who interned at hedge funds during the school year and kept up 3.7+s who got nothing from the banks and ended up doing Big 4 consulting.
Conversely, at HYP, you'd probably be fine. The BBs are looking to give out more offers, so they interview a wider set of candidates, and they're fine with people who have good grades, involvement in clubs, and no finance experience (especially if you're an athlete). Like, instead of just interviewing 16 people for first rounds, GS is probably looking to give out at least 16 OFFERS at Harvard. So that means what, 50 people get first rounds? No idea, I don't go there, just spit-balling.
Moral of the story: interviews depend on context, not all targets are equally target-y. Ask people who've done this at your school, not WSO. And NETWORK. It can't hurt unless you're really fucking awkward.
stats have little to no bearing on recruiting (ok maybe to pass HR screening but they don't make the hiring decisions). network and put yourself in front of people
Created an account for you just to help you out, because I wish I had known better too.
The facts, which you cross check with your BAP buddies:
600 kids at Stern 6 BB came to campus First round Interviews 18-30 per BB Between 20-25 people are going to be at a BB this summer in NYC - however several took elite boutiques over BB offers. Counting a few of the better boutiques, you're talking maybe 40 people at best.
At ~ 3.6, your gpa puts you approximately in the top 30%. Around 170 kids have a better gpa than yours. At least 100 of those kids will be wanting to do banking. Your work experience, based on what I've seen, fairs better, but you'll be behind at least 30 kids who will have either BB or Boutique IBD experience by the time spring rolls around. Bonus points to you if you are: white, Jewish, female, Black, Native American, or Hispanic.
Anyways, the older kids that you know who did GS, MS, JPM, Blackstone, KKR - most of them got in through the minority programs (females count) or through connections. They're still going to be some major competition in either case.
So yea, it doesn't take much insight to do the math here. Let's face it, the rest of this board doesn't really know exactly what the situation is. To be blunt, your chances are pretty shit evaluating your resume as is. So three tips, which I'd follow very carefully.
Make a HUGE effort to get a boutique IBD internship in the fall. This will improve your chances dramatically.
Your gpa is fairly set at this point in time, but if you can make it round to 3.7, do your best. Bulges are particularly picky about GPA - they favor it equally to work experience unlike the boutiques who tend to favor experience more.
Network, Network, Network. Bap's stronghold is Barcap, but every bank has its perks. And start now so you're not with the rest of the crowd begging for "informational" coffee chats the month before results come out.
Don't just apply to IBD. Can't emphasize this enough no matter how tempting it is. Consider Equity Research, S&T, AM, and Risk as well. Much less competition in those fronts.
Perfect your resume. Honestly your EC's don't have very much personality.
This is good. I'll add that literally the same top 30 kids in your class will be taking every single interview. CAS takes a good 10-20% of this chunk too so thats even more competition. Also, boutiques only interview 13 kids. In my experience, you aren't safe at Stern even with a 3.8+ GPA without aggressively networking.
And yep forgot about the CAS kids. Usually a few here and there who network themselves in or have spectacular experience. The good news is Stern is very very short on URM's (lol they're actually under represented here) so most of these guys get a separate, extremely cushy I might add, interview process and aren't a large part of the pool.
Ah, this struck close to home.^^you're making a pretty huge assumption that everyone in Stern wants to go do banking. Sure a lot do, but many don't want anything to do with it.
No, I'm not.
Just an FYI, the banking networking events get several hundred applications. You're correct not everyone, but that's not what I said was it? What I precisely said is that out of the top 170 or students by gpa, at least 100 (and that's a low estimate), will be seeking banking jobs.
Yes to some extent it's self selective. Those who don't have any work experience or have a low gpa (anyone under a 3.5 for instance), probably won't have any incentive to apply. But there are only a handful of individuals who are qualified for banking in terms of their gpa/experience but choose to go into other industries (a handful at consulting, a good bunch already recruited by accounting firms, and the remainder in marketing).
The truth is since MBB don't hire at Stern, the cream of the crop end up in the banking industry.
Sav,
Thank you very much for the advice. If I am lucky, I may be able to intern at Bloomberg next fall, and although its not IB, it is a big name which I don't think can hurt my chances. I will also definitely look in to boutiques. I've been trying to reach out to alums at boutiques but I keep getting the same response of juniors only or just no interns at all. Doing as much as I can to raise my GPA up and I'm a transfer so with less credits factoring in to the GPA, it will move around much more.
Would you take an unpaid IB or PE internship this summer over f100?
What is VITA committee? JW.
Would this be the same for a person at HPY? I mean a 3.6 at Stern doesn't correlate equally to say a
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