Internships after graduation?
I am a college senior looking into breaking in Investment Banking, I have a solid understanding and network on wall street. However I lack an investment banking internship to really bankify my credentials.
Do any BB or Top - tier Boutiques hire graduates as interns? If not, what are my next steps?
Would appreciate any help!
BBs and Top-tier boutiques typically don't hire graduates as interns. Summer Analyst recruiting for the prospective undegrad seniors is just about wrapped up.
However, there are still tons of middle-market boutiques and smaller shops out there that participate in ad-hoc recruiting. It's definitely not too late, as it's only Oct. Step your game up, do your research and start putting yourself out there. It's not going to be easy; I graduated with no IB experience and wound up finally landing a FT offer a year later -- persistence is key.
uhh summer analyst recruiting hasn't even started for the regular cycle...
My bad, was thinking FT.
It's not unheard of for BBs and I'm guessing MMs too to have a few SAs who have recently graduated but are pursuing an MSF or some other similar degree for a year. I knew a couple at a major BB who did this and went through the process just like a rising senior would have done.
Is it possible to get FT positions after graduation? (i.e: do they only recruit people who are still in school?)
It does happen, although it is not the norm and it would not be on the website...you would need to contact your contacts and/or HR first (contacts then HR if you don't have any at the bank).
Yeah some BB's will give you an SA position even if you just graded. If you get an offer, you can even start FT right after your SA term. Essentially starting with the incoming analyst class (although you are usually an A0 for 8 months...). Good luck, DKK
It's definitely good to hear that since I think I can prove myself as an SA. What banks do you think would go out of the norm and hire graduate SAs?
They all would, like we said, you would need a contact/email HR.
summer internship the summer after graduation? (Originally Posted: 01/04/2011)
I'm going to graduate in May and have not had any finance internships or other professional experience while in college. So my question is, rather than applying for full time positions, for which recruitment is already closed by this time anyway I guess, does it make sense for me to apply for internships for the summer. Do BBs or boutiques even offer summer analyst programmes to graduating seniors?
short answer: no long answer: nooooooooooo
I've come across boutique firms offer "full-time internships", but you won't find any major banks giving out SA positions to someone who's already graduated
This happens a LOT in London. Just tell them that you're going to start a Masters degree in the fall. I did that last summer and got a bunch of SA interviews and a couple of offers. Once you get the offer after completing the SA you can always ask them to start immediately or in a couple of months. I know many people who have successfully done this.
What Acs_London said is a good idea. Your best bet is going to be network with people at boutiques and even BBs. Landing an internship at a boutique will be much easier then at a BB because the hiring structure is not formalized. There is a list of 200 investment bank contacts on the forum and you should start contacting the MDs. Getting an internship at BB after graduation is going to be hard but not impossible. Your going to have network with someone high up at the firm who can put in a good a word for you. I am in the same position with you and I was able to get an SA interview with a BB. I knew a global head and he talked to hr about me.
Once your inn for the SA nobody will care whether you actually do a masters or not. As acs points out in London this happens all the time, back in my SA class a lot of people had already finished and started immediately or a few months later. Some other banks like JPM do allow people that already graduated to apply (this is for London though, dont know about the US).
but.. isnt that lying if you say you are starting masters in the fall although you are not?
+1...that's how I interpreted it; wouldn't banks not hire you FT, or you'd get fired, or a bad reference, if and when they find out?
What about simply not graduating and coming back for another semester in the fall? Would that be a better idea if I want to apply to as many banks as possible, not just in London? Are any BB banks still recruiting for SA positions in the states?
BB summer internship after graduation? (Originally Posted: 08/24/2014)
I'm looking to apply to almost all BBs but am deep in a hole due to having a very poor freshman year and going to a non-target (think Bucknell/F&M/Gettysburg/Trinity). I'm looking to apply for both a full-time analyst position and also a summer analyst position. If I get shut out by all BBs I would take the summer internship position and then perhaps work at a boutique before reapplying for 2016. Is this an abnormal/feasible backup plan?
I don't know about in the US but overseas recent graduates do a SA pretty regularly - often get return offers for the following year, which is great because you can travel for a year etc knowing you have a job to come back to. However, your post makes it sound like you're confident about the SA - know they aren't guaranteed by any means.
in the US, only people returning to undergraduate studies the subsequent year can apply for SA there's not really any exceptions to this rule at BBs or MMs- it differs for EBs or boutiques however i know for a fact that Cowen has taken an SA who had already graduated
in the us it's fairly rare. there's a full team and schedule dedicated to recruiting an entire banking class. there's just very little incentive to recruit off cycle and deal with the logistical issues unless you're singularly impressive.
Post-Graduation Internship (Originally Posted: 01/24/2011)
Hello,
I graduated in May 2010 with a BS/AB Mechanical Engineering and Economics. I didn't get any full-time offers at the BB banks (I usually got to the first round pre-screen on campus). The concern that seemed to be coming up across the board was "We don't think you are interested in finance because you didn't have a finance related internship between Junior/Senior years."
Since then, I have been working as a research assistant for an economic research (academic) firm. I still want to work in I-Banking, but I don't think that this position would classify as signaling interest from an interviewer's point of view.
What do you think about applying to a summer internship, or off-season, at one the BB banks to signal interest and gain experience? Would they even consider a post-grad?
So you guys can best help me, here is a link to my current resume.
Thanks in advance!
Networking with senior bankers and convincing them that it makes sense to give you an internship over a person still in school is probably your best bet. There will probably be a lot of resistance but just keep at it.
Oh and a lot of places are either in the midst of interviews or have decided on who will be their SA's so you're kinda behind the 8-ball already. Start building relationships though, you never know where the next opportunity will come from.
Any idea how to do this outside of school and recruiting events? I am at a loss.
Resume could use some tweaking. One of your interests is reading textbooks... thats okay, but I don't think its something I would want people to think is in my top 3 interests. Try to quantify your experience a bit more. Network, network, network. Oh and coming from an engineering background you need to have your story perfect, practice it in the mirror, to your friends, to your family, anyone who will listen. There cannot be any doubt to the interviewer why you are interested in finance and how this move to ib makes sense given your background and skill set.
Relevant experience definitely did you in. You seem like you are very intelligent, have you thought of a masters in finance or masters in financial engineering (depending on which direction you want to go in your career)?
Cold calls and emails. Use any way you can to get into contact with them whether it's trying your alumni database or through friends who work at a bank. Also you're going to have to cold call and cold email a lot (hundreds of people). Go onto bank websites and look for any names or directory you could find. This is easier with smaller shops because they post most of their sr bankers contact info. If all else fails and you're really desperate, then find the bank's front desk # and ask to speak with a sr banker in a random group and pretend to be a business owner who might need their services to get past the admin asst. Smaller banks would be a lot easier so I'd focus on those and even ask if they could sit down with you to ask a few questions about the business. A lot of people would be happy to help you and once you meet a few people, your network will grow quicker than you think.
I'm sure that the people you have met during the first round interviews last year gave you their business card so call them up
MBA always works.
thoughts on post-graduation internships to break into IBD? (Originally Posted: 08/31/2009)
Answered.
You'll be restricted from applying to summer gigs because you're graduating within the year.
internship after graduation? (Originally Posted: 11/01/2009)
am wondering if it is possible to intern, in the undergrad capacity, at a top tier firm the summer after college college graduation. anybody know? thanks much!
Usually not, unless you're going on to a masters immediately following.
Internship post graduation (Originally Posted: 11/14/2009)
So I'm going to graduate in December and currently don't have any offers. I would like to apply for internship positions for summer 2010 but not sure if it's possible since I will already have a degree at that point. Is it possible to get internships after graduating?
Yes, it's possible. Some firms do that nowadays to identify potential full-time hires without giving them a job outright. I have a friend who was jobless after graduation, did an internship at Visa and got an offer after the summer - she's working there now full-time. Make sure, though, that the firm is receptive to giving you a full-time offer if you do well.
Internship after college graduation? (Originally Posted: 08/01/2006)
Is it possible to get a summer internship post-college graduation? Or are they reserved primarily for juniors?
bump
any insight?
Good question... I have just done a research internship with a boutique but I think I want to look at some other divisions, plus I've decided I want to get my M.Sc (Statistics). Therefore I feel like going for another internship next summer. Besides the internship I just finished, I have a fairly high-level part-time quant job lined up for my upcoming senior year. My school is not a target but the programme I am in is solid and I am busting out good grades.
I am wondering how much skepticism I will have to face in applying for a second internship, and what my chances would be of getting to trade, play with derivatives, or do something else that I like the sound of. My resumé is quite good overall, with diverse achievements, but I wonder if there will be problems with my trying to get another go on the internship merry-go-round. Anyone have an opinion on this? I need to work out how I am going to market myself. Thanks.
internship after graduation (Originally Posted: 07/30/2013)
Is it common for firms of any size to hire graduates to a temporary intern position, like a SA kind of deal? I would like to get into ER but didnt do a SA last summer and dont have much relevant work experience. Although I think I am a suitable candidate (in terms of skills) for a FT position and will do FT recruiting this upcoming school year, I think doing an internship might be a good option to get some more work experience. Regardless, is it common for this to happen, should I shoot for a rotational program or just focus on FT recruitment? I lot of my peers did SA's this last summer and I know I will be at a serious disadvantage to them when FT recruitment comes around...
Thanks
I asked this question not too long ago and it seemed like the consensus was to focus on FT recruitment.
If FT fails, I know boutiques and some MM's give out internships to people in your position. That would help for FT in the future.
Unpaid Internships In NYC After Graduation (Originally Posted: 04/30/2014)
My school tells me unpaid internships that are not for college credit are illegal in NYS. Is there anyway around this? Can people still write their internship experience on their resume, even though it's a form of illegal labor, or is the only point of doing an unpaid internship after graduation is hoping the firm you are working for will bring you aboard?
Illegal for them, not you. Nobody has to know how much you were paid, just say 70k prorated.
Unpaid internships are not automatically illegal in NY. It's only illegal if, as an intern, you do the same work as a paid employee. As long as your internship doesn't entail real work, then it's completely legal. And if it does entail real work, just don't sue the company. No one cares.
Also, you don't disclose how much you were paid on your resume, so no one looking at your resume will automatically assume the internship was unpaid and/or illegal.
Unpaid internship at boutique IB after graduation (Originally Posted: 11/19/2012)
Hi,
I will graduate this December from a non-target liberal arts college, and I do not have any previous IB experience. The closest finance experience was my recent summer internship in micro finance. I have been offered an unpaid internship at a no-name IB firm (really small) in NYC and I currently have no other job offers. I want to get into IBD but NYC is extremely expensive; I won't be able to afford it unless my parents subsidize me.
My questions are: 1. Should I do it? Or should I go for other jobs in non-finance fields? 2. Since the major recruiting season for IBs have already passed, how much will this unpaid spring internship in IBD help in terms of getting FT job offer?
I'd appreciate your inputs.
Internship experience will never hurt, especially as you went to a liberal arts college. Get your parents to help you out (make sure you pay them back as soon as you get a job though!) and take the internship. You can live somewhere cheap and not in Manhatten if it's a no-name boutique as it's likely you wont be burning the candle at both ends every night.
I'd take it.
Take it and make the best of your time in NY, as in Network and make sure that you work your ass off. You never know they may extend an offer after your internship, if you impressed them enough.
Post undergrad IB internship...what to do after? (Originally Posted: 02/21/2011)
Hey all, I have a quick question for those of you who completed your first investment banking internship after graduating college...what did you do after you completed the internship?
Were you able to leverage your post-grad internship experience to get full-time interviews?
Thanks for the help.
take the gap year off to travel and relax. do a good job during SA to convert to FT if that's what you want. some people do a 1-year master's.
UG completion --> Summer Internship --> Return Offer --> MSc --> FT
This is the path I took.
+1
looks like i'm going to be on this path
I am applying to 1 yr masters programs, but just in case I dont get accepted, do you thinks its feasible to get FT interviews directly after an internship?
Yes, I would think so. Just ask.
Post-Undergrad Internship? (Originally Posted: 03/28/2014)
I'll be graduating from a non-target in May and have a couple of solid outstanding offers, one in credit research at a well respected shop (~200Bn AUM) and another in corporate banking at a super regional. That said, I have been making a strong push to get into real estate investing...endless networking, blind resume drops, everything...to no avail. Without any full-time prospects in real estate investing, I was just invited to the final round for an SA position with a top RE investment manager (think AEW, Tishman Speyer, CBRE Global Investors). As of now, real estate investing is where I want to be, but there are obviously a number of risks that come with taking a post-undergrad internship. Should I get the SA offer, what do you guys think about taking it over a respectable full-time position, but not in my most desired field?
Thanks for the help.
how are you getting an SA while graduating this summer?
Can you take the SA and delay the start date for one of your offers?
The SA was through OCR, I applied (even though I'm graduating) because it's a good gig doing precisely what I want to be doing...I assume I was selected to interview due to strong internship experience/deep interest in CRE/and apparent willingness to take a risk.
Let's assume my offers could not be delayed. Then what?
I'd probably take the credit research role at what I assume is a mutual fund.
Can you try delaying the FT start date until late summer?
2018 graduate – still a chance as a SA? (Originally Posted: 09/16/2017)
Hey guys,
I'm expecting to finish by Bachelor's in 2018, and, normally, everyone expects you to do a SA after the penultimate year, whereas some like JPM explicitly say it. Is there still a chance, or should I be on my way looking for FT and off-cycles (which, apparently, disappeared from everywhere this year).
Appreciate the reply. Thanks!
Do both, and if you get SA then go do a 1 year masters afterwards.
Graduate and Summer Analyst Position (Originally Posted: 10/23/2009)
Hey,
I am currently a senior from a non-target school trying to get into Ibanking at a BB. I've had contact with a lot of HR people at the BB's, but unfortunately recruiting has been a little different this year and a lot of banks are already full with summers, or only have a little room for target school kids.
I have managed to make it to 2 superdays. If none of those work out, I was very curious as how unorthodox is it for a graduate to apply for a summer analyst position??? I am so eager to do Ibanking that I am willing to do the summer analyst thing as long as it gets me in the door. Have you heard of anyone doing this? Do you think HR would allow this?? Is it a bad idea?.....I honestly don't see what is wrong with it, it's just as if I would be graduating a semester late and needed a summer internship anyway.
Thanks.
If you can spin it that your graduating in 2011 then you would qualify. Otherwise most larger banks are pretty strict about that
Worked for a large BB this summer, and yes, there was actually a masters student that just graduated in may. she was a summer analyst
Has anyone else come across a recently graduated masters/undergrad student doing a SA?
yeah one of my buds couldn't find a job at graduation and applied for SA spots. said he was doing a master's. HR was pretty open about that. spun it off as wanting to get an education abroad. don't make it sound like you're only applying cause you couldn't get FT
New graduate taking a junior level S&T internship? (Originally Posted: 06/02/2011)
I will be a senior in the Fall and was not able to get a S&T internship for this summer. Is it a bad idea to try to get a S&T intern position at a BB next year as a graduate and try to get a full time offer once the position is over? Do recruiters not even look at seniors for these internships or is it still a decent option an aspiring trader.
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