What do sophomores usually do for internships?

A little bit of background: I'm a currently a freshman at a non HYP Ivy. I qualify as a diversity candidate. My father was born in Mexico and grew up in Spain (his grandparents moved to Mexico after Franco took power and went back right after he died) and my maternal grandmother is Argentinian. I also went to a couple diversity events this semester. 3.8+ GPA with some clubs and activities. Interning at a small PE firm in Texas this summer.

My question is what do people usually do in the summer before their junior year? I just want some advice/examples to help me decide whether I should go all out and network this summer to find an internship at a BB or EB. Doesn't have to be strictly IB but something in finance (maybe like Asset Management or sales and trading)

 

I think actual IBD/PE summer positions at big banks/funds are few and far in between, but I know a lot of big companies do leadership development programs or other summer positions of that nature for upcoming sophomores and juniors. You could look into that or to try to get a corporate finance summer position. I don't think it'd look bad if you weren't an IBD SA the summer after your freshman year. Just try to get in the industry you want generally and get some good, quantifiable project experience. The bigger the company name, the better. It'll build credibility for you early on and expand your network.

 

While it is not a total prerequisite, many interviewing Juniors have completed some form of finance internship experience. As you can read in this forum, BB IBD as a sophomore is possible, other common internships are non-IBD roles within larger banks. Your stats are solid, I'd suggest that you try your best to find an internship opportunity at a small boutique this summer if possible. Other options are bootcamps and externships that are still open to applications. Besides that, do your homework this summer and get ahead of recruiting and find any/all diversity programs you can apply for in the fall.

 

I would have studied abroad doing an exchange program my freshman summer if I could redo it again rather than doing a semi decent internship. Be sure to apply to everything available next semester (BB, MBB, Tech, even Big4) and take the best thing you can get. Recruiting for junior year internships will be easier depending on what you get for your sophomore summer. Good Luck!

 
Best Response

You have a competitive profile to begin with, so this should be a cakewalk as long as you aren't a mouth-breathing idiot who can't carry a conversation. Presuming that you aren't, begin networking across the bulge bracket now.

Look for alumni of SEO, MLT, and Inroads and reach out through LinkedIn or cold-emailing based on the firm's email format. Look for diverse alumni of your school. Keep the emails brief: introduce yourself as a freshman from X-Ivy about to start a private equity internship and interested in learning more about banking. Best is if you can include some kind of campus leadership position that'll indicate your diversity; together, all that ought to get you a lot of responses.

(e.g.)

"I'm a freshman econ major from Columbia and Secretary of the Hispanic Student Association. I'll be spending the summer interning at a small private equity firm, but I'm interested in learning more about opportunities in banking.

I'd love to learn more about your experience at Firm. Do you have 15 minutes for a short call?"

If you start that now, you can have six months of interaction with these people in the books by the fall; that's great, because it lets you apply warm for the diversity externships you can do as a sophomore.

These can be one-day, weekend, or week-long programs. Teller had a comprehensive thread outlining all of them: http://www.wallstreetoasis.com/forums/tellers-comprehensive-guide-to-di…

You should also apply for the sophomore internships. Goldman doesn't have a formal one but accepts competitive sophomores (usually high-performing diverse kids, relatives of employees or clients, or simple networking studs) for their superday process. MS has the Sophomore Rotational Program plus the RBF Scholarship program. JPM has Launching Leaders. Credit Suisse has Doug Paul (may be renamed by now). Barclays has one as well (used to be called Generation Next). Deutsche Bank had one for a few years, not sure if it's still active.

In summary, begin getting to know people now. You want as many people strongly on your side as possible by mid-fall; the applications for both the externships and internships available to you as a diverse sophomore open then. If you can get in as a sophomore, the world (of finance) is your oyster. You can either stay at your firm for junior summer or look to 'upgrade' to a better-regarded firm. (Goldman loves to poach sophomore interns from other banks for their junior internship, for instance.)

With all the free time you get back by not having to recruit as a junior, you can hone your skills so you get better projects as a junior, and eventually, analyst; it can be a huge leg up if you're returning to a group you summered in twice, which leads to better deal staffing, which helps for buy-side recruiting.

I am permanently behind on PMs, it's not personal.
 

Competitive sophomore diversity candidates will summer at BBs as sophomores. Competitive non-diversity sophomore candidates typically will do either MM PE or boutique IB in NY/SF (whichever market they are targeting). The latter is way more unstructured and 'harder' to get a spot at in terms of legwork (there's a lot less structure and it's really up to you to just cold-email places and get a spot).

Since you qualify as URM and have a high GPA it should be extremely trivial to receive interviews, but i'ts up to you to convert them into offers.

 

This is really a question I used to ask myself for so many times. Just wish Asia is the same... It is rarely possible for junior students to work in BB front office here, and for those who made to the IBD, they would usually get the return offers as well. Basically junior students are just not eligible for applying to the role in Asia (well not true only if your parents is the target client of the BB u gonna work in lol) Anyway, personal experience is sometimes a fruitful summer of junior years that gives u a really unique story to tell is better than a semi-decent summer internship.

 

Pace actually has a great career services program (I just graduated from there) although I've noticed right now they've been slacking on opportunities, at least for full-time. My advice is stay active with the career services dept, keep applying and keep sending out those emails. Good news for you is you still have plenty of time, so don't be discouraged. Being VP of the finance club on your sophomore is year is still pretty impressive so keep doing what you're doing. Best of luck.

-O.K.
 
youngbusinessman:
Hi guys,

I'm currently a second semester sophomore attending Pace University in downtown Manhattan. I am a Finance Major with a Minor in Economics and I am Vice President of the Finance Club. I have a pretty decent resume and an okay GPA (above a 3.0). I have been applying to multiple boutique firms, banks, and investment firms online and have been having no luck. It's getting pretty frustrating applying and not hearing back from anyone since I walk past Wall street nearly everyday. The closest I have gotten to attaining a summer internship, was to work for Northwestern Mutual. Which I turned down because they wanted me to sell insurance. I have been emailing people regularly with no response. Should I just not give a shit and start cold calling now? The only reason I have stopped applying through my university is because they only seek juniors and seniors.

Just was looking for some advice and encouragement I guess. Where should I be applying? and What should I say when I'm cold calling?

Im a junior but did this last year. First be open, even if you don't get a offer for something exactly what you want, as long as you learn that's what a internship is for. Dont think i-banking or nothing. You can move to a prefered division later. Pace isn't a bad school and has a good career network. Go through them and contact as many alum as possible and use LinkedIn for any connections you may have.

 

What's your cold e-mail format look like? If you're not getting any responses there might be something wrong with what you're saying. What time are you sending your e-mails?

I've had a lot of luck going on LinkedIn and searching through my University and Fraternities alumni groups. I go to a Non-Target and was very surprised by the amount of UG alum I found working in investment management (field I'm pursuing).

 

I know two guys that interned as sophmores at top groups. One did GS TMT (didn't go to Penn) and the other did UBS LA and then decided to fast track her degree in 3 years and started the next summer.

comp etc were all the same.

 

many people do intern under that pretense but there are some non penultimate year students who do get internships at BBs. Some apply for regular internships and get offers if they are top superstars while others use easter or summer programs which are actually designed for juniors/sophomores to impress and build a network which they leverage to get further internships. in the US these 1st or 2nd year programs tend to be for minorities but in Europe they are based on merit (albeit there is a bias favouring women).

For example in the UK you could do a 1st year easter internship at GS/JPM/CSFB/MS or others - impress them big time, convince them you are a superstar and get a placement for your first year summer.

 

i know was a freshman at MIT who did Goldman technology his freshman year, then one of their industry groups his sophomore year. I think this summer he's going to be at Perella, so it's been a nice progression for him.

 

do you guys know which banks ... boutique or whatever... that is more likely to recruit for sophomores for summer intern positions? would love to get some experience in this industry.

 

Find out where the most successful juniors interned then reach out to them and ask them to pass your resume on to their former employer. You could cold call small boutiques, but having a successful former employee refer you will take you much farther.

You could also apply for BB sophomore internships, but those are very difficult to get if you don't fall into the demographic that they are actively looking for.

 

I want to either go IB or ER. Unfortunately I go to a non target but have a strong GPA and excellent involvement around campus. Also interned at a Ft 500 Bank this past summer. I've been networking aggressively with the few alum in the industry and have been cold calling boutiques. any other advice? I feel like I'm at a dead end.

 

Killua1234, pure crickets, that's where I come in. Any of these useful?

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WSOWill:
Who told you to use that "format?"

That's the dumbest shit I've ever seen

Google "Mergers and inquisition resume format"

It's better than the one you posted.

Would suggest using bullets though.

 

Use the M&I format. Change the language. Add Interests to make it "Skills & Interests."

It's incredibly late in the game for anything this summer. Everyone at bulge brackets starts tomorrow with a few the following Monday. Boutiques may be your last shot, and you could probably swing something unstructured given your GPA if you did some persistent cold-calling over the next two weeks. Aim for maybe an eight-week internship, but at this point to sell your candidacy you're almost guaranteed to have to go for unpaid.

Do you have access to Wasserman's website yet? Postings on there may be your best bet. Just from looking at your resume, you have a long road ahead of you at Stern.

I am permanently behind on PMs, it's not personal.
 

Take out all the personal pronouns and stuff. Honestly, the M&I format gives you the language, go off that. Don't keep saying, "In this position, I...." Just go right into it, it's understood that you did that in that position since that's where the bullet is. You have too much fluff and not enough quantified information.

I am permanently behind on PMs, it's not personal.
 

No, but you can make the wording results-driven. You have a lot of passive wording, vague phrasing, and poor communication of the results of what you did. Don't stress too much now, go in to Wasserman in September and just get a half-hour appointment. They'll help you and it's way easier than over a forum.

I am permanently behind on PMs, it's not personal.
 

I have similar majors/minors. I'm triple majoring, in an honors program, and I have a minor. Yes, I've gotten some questions about my non-business major, but I usually just say it's something I enjoy and I believe that school should be about learning what you love as well as about getting a job. Your internship seems beyond awesome, you have nothing to worry about

 
jack.daniels:
I have similar majors/minors. I'm triple majoring, in an honors program, and I have a minor. Yes, I've gotten some questions about my non-business major, but I usually just say it's something I enjoy and I believe that school should be about learning what you love as well as about getting a job. Your internship seems beyond awesome, you have nothing to worry about

Thanks man, appreciate it. Anyone else have any suggestions?

 

To answer your questions:

1) Most of the sophomore programs have 10-20 spots per year

2) Yes, most of them are aimed at increasing the diversity of the SA classes

3) Before you start discriminating between "top BBs" and "not top BBs", you might want to just worry about getting an offer from a reputable shop

"For all the tribulations in our lives, for all the troubles that remain in the world, the decline of violence is an accomplishment we can savor, and an impetus to cherish the forces of civilization and enlightenment that made it possible."
 

Barclays Next Gen, CS Douglas Paul, DB Demystifying IB, Barclays IB Bootcamp, CS BA Explorer are all billed as "Diversity" programs. MS has one as well, I believe. Some of the ones I've listed aren't SA programs, but are shorter symposiums-type programs or rotational.

These are just the ones I've found in my search so far.

 

Honestly, no one bank that you intern at your sophomore year will funnel you into a guaranteed BB junior year internship (unless you do your sophomore summer at a BB as well, but then you wouldn't be too worried for junior year). Just having IB experience your sophomore summer -- assuming it's legitimate experience and not just getting coffee at an IB firm -- is pretty impressive.

Zero also has a point. "Hi, my name is Mitt and I want an internship for the summer," could put off some great people who'd otherwise be happy to help you out. It's a bit like dating; you don't randomly go up to someone and go, "Hey, will you be my bf/gf?"

 

How many other offers do you have on the table? I

Thinking "I am too good for this" without having other options will do more harm than good. Not having ANY work experience is what really hurts your chances for getting any kind of job. It is very unlikely you will be able to get a summer internship in ibd for this summer, which would be the best path for locking-in a full time investment banking position.

 

I'm still waiting back on a local boutique about whether or not they have the capacity for me. Other than that, I do not think I'm "too good for this." I was wondering if it would help me if I did have this?

 

From what I've seen, most of the BBs don't bring on a ton of sophomores for IBD summers analyst roles. For example, the firm I was at over the summer (GS/MS/JPM) only had 10 sophomores in IBD (none from your traditional top UGs either surprisingly). So clearly it is not necessary to intern their during your sophomore year to get to get an internship during your junior year. Nevertheless, having any sort of finance experience/internship will better prepare you for recruiting/interviews next year.

Can you ask the commercial bank for more time before you decide? Hopefully this will allow you to hear back from the botique. Either way, be happy you have something as most people don't have much of anything during their sophomore year in the way of internships.

 

Probably easier to ask for an informational interview, where you can then broach the topic of internships over the phone or in person. Or if not, they might know of someone who is taking on interns. There's a good template on the Mergers and Inquisitions website under informational interviews.

I would shoot for the closest connection you have - if there's any alumni from your school, that's your best bet. After that, maybe there's someone who shares an interest with you (if the firm has short bios). Beyond that, your guess is as good as mine, but I'd err toward senior guys over junior guys since they end up controlling the personnel decisions.

 

definitely needs to be wayyyyy more personalized than it is now. it will take more time but as it stands now i would just delete such email. also, try to be unique. last year, a friend of mine got caught red handed for simply copying the text and just changing the name on the top. someone he sent the email to checked with someone at another bank just to find out they received the same email.

my 2c

 

Definitely too impersonal. Try the M&I way.

"My name is XXX and I am a sophomore finance major at _______. I came across your firm while _______________ and was intrigued by ____________ (some interesting thing about them). I was wondering if you were available for a brief chat over the phone."

You don't want to straight up ask for an internship, from my experience, most people infer that anyways. You want to give a little bit of background about yourself as a general thing to do. Finally, you want to show that you actually did some research on the company and are interested in it and that you're not just blasting this to everybody out there.

 

Try to personalize them as others have said. I'm noticing a higher response rate now that I actually try to make a connection with the person in the email. Look for common things like majors (if you're both non-finance), same schools, from same area, hell anything that you two share mutually. Quality > quantity

 

Sure -- all of these comments are great -- for the email part

However, my original question was WHO to contact -- I am feel like contacting the guys at the top is too risky for a simple sophmore with barely any finance experience

Should I be scared to email guys who have HBS MBA's and are associates with the firms?

LA Bull
 

I was in a similar position during my sophomore year; I had little finance experience yet I was gunning for a PE internship. I mainly e-mailed MDs, because at smaller firms with not a lot of formal recruiting or HR support they typically have a significant amount of say in the hiring process, so reaching out to them and making a good impression can land you an interview / job.

Note: I'm sure there are differing opinions on who to contact, and it's quite dependent on the size of the firm and other factors, but this is just what I did, and it worked out for me.

 

Too risky? What are they going to do, find your name and report you to the PE police? Worst they can do is say no. Also you were answered your question, by CHItizen. Find common ground and build from there.

 

You're very late in the game for landing an internship for this summer. Your best bet is probably to take whatever your friend can give you, and then work your ass off networking and keeping your grades perfect to land a better internship next summer.

 

Hey, I studied abroad my sophomore year summer. When I got back, I had 4 weeks until school started so I cold called every finance and accounting shop in a 10 mile radius until a mom & pop accounting shop let me intern.

I was still able to land an internship with a great middle market investment bank, for the next summer and also got offers from a couple bulge brackets. (this is all from a non-target and with a 3.5 GPA)

As long as you do something finance related this summer*** and really figure out what you want to do by the fall you should be good. Also having a GPA higher than mine will help alot too hahah!

Best. Reach out if you need more advice because I was in your shoes just a couple years ago.

 

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Better than nothing if you cant find anything else, but the problem is it's essentially just cold-calling from the looks of it, not actual finance work.

I'd suggest using the regional boutiques list in the Ibanking Bullpen and try to find a place that will let you work for free. That would give you the best work experience and give you a good idea of what i-banking actually does and look better on your resume also.

 

Thanks for the feedback guys. To guts, I don't regret coming to Berkeley at all, it's been a life-changing experience in one of the finest universities in the world. Haas just adds icing on the cake, and we're incredibly privileged to be here.

I'll be trying to contact boutiques in the meantime.

 

investment management or mezzanine lending. In mezzanine you'll learn how a company operates and why you should give them loans, can they repay, risk, management etc. investment management is self explanatory.

-- "Those who say don't know, and those who know don't say."
 

All of the sophomore IB internship programs are exceptionally competitive. You can expect them to be roughly ten times as selective for sophomores than juniors. However, I don't think you should give up on trying. The way to get your foot in the door is going to be by networking at company events (you're at an Ivy so you should have this opportunity) and following up with your contacts. You're going to have to show them why you're a better fit than the other insanely qualified sophomores you are competing against.

That being said, don't get overly depressed if you apply everywhere and it doesn't work out. You may want to focus your efforts on a few of the less prestigious banks for now and see how it goes. No matter what, you should collect as many contacts as possible right now so that you can utilize them to their fullest extent for your junior summer.

 

Hey NavalMonkey, first off, thanks for your service. Secondly, congrats on being at a great school with a good GPA.

As far as your question is concerned, you should check out American Corporate Partners.

http://www.acp-usa.org/

Truth be told, this may or may not work for getting you access to internships in IB, and if it does it will likely be "the long way around", but I'm a member and will attest to the benefits of the program even outside of any possible internship positions.

The good thing is, the program administrators attempt to find someone who has similar interests and background and generally someone who is geographically close. These people can provide great advice about transitioning to corporate life, etc. and they will usually go out of their way to vouch for you and help you out, so it's potentially a fantastic networking opportunity and if you happen to get someone who is currently, or was previously, apart of the IB industry, that could be your ticket into a sophomore internship. Best of luck, hopefully you will get selected if you apply.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 

My 2cents

-seek out RELEVANT experience regardless of the company size/name. -network along the way with alumni/ people you meet at OCR events

This will absolutely differentiate you come junior year/senior year (not that 6 years of military experience won't lol)

 

I actually don't think it's worse as a sophomore than a junior. Junior year, every single kid in the world is looking for an internship at a top-tier shop that will get them a FT offer they're happy with. Sophomore year, although there are far fewer publicly advertised sophomore programs, you also have less kids competing.

It's not so much the fact that you're a sophomore that will hold you back; it's how well you network, what you do to differentiate yourself, and how strongly you can position yourself as a candidate.

Basically, it oughtn't to be hard to leverage what you have available coming from an Ivy like you do, particularly with such a strong story behind you as a military vet.

I am permanently behind on PMs, it's not personal.
 

Despite your Ivy league pedigree, you are a non-traditional candidate, which puts you at a disadvantage when dealing with HR dumbasses who are looking to check a box (and have 1000’s of candidates who fit their desired profile). Bureaucrats just don’t know what to do with 26 year old sophomores.

Use your service to your advantage. Reach out to Navy vets on the street (there are plenty of them) and try to work your way into an internship. While HR people may not want you, I guaran-damn-tee you an ex-Navy officer VP will gun for you when he sees your resume. If you can find someone who went to your school, then went into the service (any branch) and is now on Wall Street, you are golden. Good luck.

 

Co-sign cphbravo and buyside cfa. Very solid suggestions and you should definitely explore them. I'll add a tid bit that isn't directly the sort of answer you're looking for, but may help a bit.

As a soph, you're still working with time on your side and F500s (I would honestly aim for F50s if I was you) love military guys. Worst case scenario, a CorpFin gig at Google, GE, Microsoft, etc... would be a huge helper down the line, both for keeping your options open to a variety of industries and to your goal of landing in IB.

Good luck and thank you.

 
Midas Mulligan Magoo:
Co-sign cphbravo and buyside cfa. Very solid suggestions and you should definitely explore them. I'll add a tid bit that isn't directly the sort of answer you're looking for, but may help a bit.

As a soph, you're still working with time on your side and F500s (I would honestly aim for F50s if I was you) love military guys. Worst case scenario, a CorpFin gig at Google, GE, Microsoft, etc... would be a huge helper down the line, both for keeping your options open to a variety of industries and to your goal of landing in IB.

Good luck and thank you.

Good call. You would/should definetely have a leg up on the competition at F500s and that will make you a better candidate going forward and, as MMM pointed out, leaves you some wiggle room if you decide IB isn't for you. Good luck.

Regards

"The trouble with our liberal friends is not that they're ignorant, it's just that they know so much that isn't so." - Ronald Reagan
 

For the summer after your freshman year, if you can get something finance related (literally anything, likely unpaid PWM or a research job at a boutique/HF), that's great, if not it's not the end of the world.

For the summer after your sophomore year, a boutique or MM firm will look best on your resume. Some BBs do offer sophomores SA positions but these are ridiculously competitive and I'm sure you have to have your shit together before college starts to have a legitimate shot at those (ie know what investment banking is and have a finance related internship or two under your belt). HFs can offer solid experience too, but a MM/boutique experience sophomore year would be preferable. At the end of the day, I think all that really matters is getting at least one solid finance internship on your resume before junior year (I had an internship at a small FOHF and got multiple SA offers junior year).

 
thepuh:
is FOHF- Fund of Hedge Fund and was that local- you just cold emailing/ calling and getting an interview?

I am shooting for a research job at a boutique/ hf this year...

Yeah, fund of hedge fund and it was close to campus - they posted a position on our career services website. Like I said, it's great if you can get one of those positions you're going for freshman year, but there's no need to be discouraged if your search is unsuccessful. I worked at a golf course summer after freshman year.

 

Dude honestly, don't even worry about having an internship after freshman year. I'm looking back now and I'm glad I just dicked around and hung out with my friends. It'll literally be one of the last summers you'll have free for the rest of your life, cherish it. For sophomore summer, I would recommend finding an internship during your sophomore fall semester that you can leverage into a boutique/MM IB (most likely a local regional office). After you have that under your belt, it's all networking and killing your interviews. Best way to do it is to cold call alumni and local banks. Your school OCR will probably have resume drops for local boutiques also.

 
wshopeful:
freshman summer: unpaid PWM at local BB -> sophomore summer: boutique IB -> junior summer: SA at BB
i completely agree with wshopeful. there really is no incentive for any IB to hire someone so young. get anything you can finance-related after freshman year then look into a boutique or middle market bank after sophomore year, most of the senior-level bankers at a boutique or middle market bank are former BB guys - reach out to them for contacts and opportunities.
 

I'm in the exact same spot. Try to find smaller companies that aren't as easy to find, maybe they won't have interns and would appreciate someone interested in finance since you're from a place that isn't big on finance. Otherwise from what I've read this is our last summer off. So find a fuck off job and party.

 

Even if you don't live in a city known for finance, you should be able to find a local wealth management office for Merrill, MSSB,etc. Reach out to the office manager there and see what comes up. If that fails, find small firms that are more familiy oriented, something out there you just have to find it...you then have to convince them that you are worth their time. Offer an unpaid gig and see where you get. If you can't, make some $ and enjoy your summer. Work exp is a plus even if it's not finance related

 

No, just finished freshman year of college. Completed one year. So rising sophomore.

And there is a JPM firm, I'll reach out and see what I can get with them. It's about the last place I haven't tried yet, however. I am taking a few classes and continuing some finance-related research I'm doing with a professor, so worst case, I'll pick up a normal job and make some bank I guess.

 
SmokeyG:
No, just finished freshman year of college. Completed one year. So rising sophomore.

And there is a JPM firm, I'll reach out and see what I can get with them. It's about the last place I haven't tried yet, however. I am taking a few classes and continuing some finance-related research I'm doing with a professor, so worst case, I'll pick up a normal job and make some bank I guess.

Have you tried nearby cities? Or considered relocating for the summer? I don't think JPM would have anything right now because they typically don't do PWM freshman intern programs.

Freshman summer isnt too important. You can just use it to read up on lots of books and be in even better shape than people who did freshman PWM.

 

you need to clarify what type of internship you are looking for.....ibd,s/t, equity research, asset management? people can help you if u are more specific. Generally however, use wso, read wsj, vault guides, and find books related to your target internship

Success is my only option and failure is not
 

1) Start learning about banking, fast. Like rs12 said: Use WSO, Vault, M&I, Rosenbaum book, and anything else you can get your hands on to understand (at least at an overview level) of what you'll need to know and what you'll be doing.

2) Start networking, yesterday. Best way to do this is by finding alumni. I'm not sure how big your school is, but I would hope that you have at least a few alums in finance. Ask your academic advisors to help. Just ask for 15 minute informational interviews, and don't ask for internships. At the end of the call (or in an email after), ask if they can connect you with somebody else they know (like an analyst in banking).

3) Fix your resume up. Post it up on WSO for critique - it helps a lot.

4) Try to find another kid from your school that has done what you want to do, ask him/her how they did it.

Best of luck.

 

I was like you in that I did a ML pwm internship after freshman year. One thing I wish I did at the beginning of sophomore year was to get a school time internship, either fall or spring. Do a normal or heavy semester, then cut classes back and do an internship part time.

My problem was that I didn't believe there were any boutique banks or pe firms were around my school. Now, however, I realize how many finance opportunities are around. -I recommend you check the area around your school. Even if you don't think they're there look for IB, PE,or VC that could be a possible school time internship for that extra resume boost.

Networking is good for a sophomore. You can use this year to really practice networking and probably get some good opportunities. I was able to get some interviews from networking; I interviewed at a MM IB as a non target sophomore because of networking.
-Network with any and every i-bank you can find. (Because you're gonna need those connections for: boutiques for sophomore internships, MM & BB for possible sophomore but more likely junior internship) -If I were you I would reach out to alumni at the MM and BB banks in the fall (October-ish) and just try to make connections/ get an interview or two. -Come January/February you're gonna want to be reaching out to boutiques for internships.

^I know I'm phrasing this as you should get a boutique ib internship sophomore year, but that's just what I believe is most realistic(Go for MM or BB just don't get discouraged). Sophomore year is a real pain to land internships. Good luck and keep learning about the industry from your own research and from networking with professionals.

 
farmerbob:
I was like you in that I did a ML pwm internship after freshman year. One thing I wish I did at the beginning of sophomore year was to get a school time internship, either fall or spring. Do a normal or heavy semester, then cut classes back and do an internship part time.

My problem was that I didn't believe there were any boutique banks or pe firms were around my school. Now, however, I realize how many finance opportunities are around. -I recommend you check the area around your school. Even if you don't think they're there look for IB, PE,or VC that could be a possible school time internship for that extra resume boost.

Networking is good for a sophomore. You can use this year to really practice networking and probably get some good opportunities. I was able to get some interviews from networking; I interviewed at a MM IB as a non target sophomore because of networking.
-Network with any and every i-bank you can find. (Because you're gonna need those connections for: boutiques for sophomore internships, MM & BB for possible sophomore but more likely junior internship) -If I were you I would reach out to alumni at the MM and BB banks in the fall (October-ish) and just try to make connections/ get an interview or two. -Come January/February you're gonna want to be reaching out to boutiques for internships.

^I know I'm phrasing this as you should get a boutique ib internship sophomore year, but that's just what I believe is most realistic(Go for MM or BB just don't get discouraged). Sophomore year is a real pain to land internships. Good luck and keep learning about the industry from your own research and from networking with professionals.

Great advice thanks!

 

Which school? If your get OCR you're a target/semi-target.

Robert Clayton Dean: What is happening? Brill: I blew up the building. Robert Clayton Dean: Why? Brill: Because you made a phone call.
 
superman:
Oh by the way, commenting on the post, its good to network and contact the "people you know", try to leverage into MM, which will set you up for end of junior recruiting.

Hahah thank you kind sir.

 

Yes Duke. I'm trying to reach out to local boutiques right now and I'm getting mixed results. Some are strictly recruiting juniors only (im a sophomore) and have sent out a resume to others. Well I couldn't call that mixed but depends what type of response I get back. Likely will be unpaid as well but I'm okay with that.

 
Mr. Hansen:
If you're in PWM now, then go for trading. Diversify your experience. You might even like trading.

I'm in a Compliance role right now, so I'm just aiming for a more finance oriented role next summer.

 
grhunt:
I'll keep this short. I'm entering my sophomore year and I have an internship at an Investment Management shop this summer (115MM AUM). I had lunch with the president today (really likes me). He said he could get me any internship I wanted within the company next summer. The goal is to make it to IBD after undergrad, so here's my question. Should I stay with the Investment Management shop and get an internship on the trading floor/with a PM, or should I go for PWM? Prolly won't get IB next summer since I'm from a non-target. Thoughts? Thanks.

I'm in similar position, rising sophomore, IM internship ($20B AUM) but my goal is to do buy side research (HF research).

if i were you, i'd probably move to the trading desk or even ask to go to the research department and just pick these guys brains.

 

PWM is easy to get any year. Do what you want. Sophomore trading to IBD is a more common path compared to doing PWM to IBD. As someone doing BB PWM, it's a little boring especially since we don't have the necessary qualifications to handle accounts and such. Maybe you can get a more hands-on role since you know the president though.

 
nontarget kid:
I'm a rising junior at a 500b+ AM firm. I'm trying my heart out to get a fall trading internship there and am coming up short. Reading your posts it seems that everything just "falls" into your hands. What am I doing wrong?

I've really worked my ass off this summer, and my supervisor has rewarded me with really high praise to everyone that asks about me. The lunch with the president was actually a stroke of luck. He is wanting to start a financial literacy program for colleges in the state of Iowa and I just happen to be the founder and president of a financial literacy program at my school. Long story short, get lucky...

 

Good resume overall. I'd expand on the Leadership/Voluntary experience with your VP positions and cut out the Politics from interests (you don't really want to go into a discussion on that?).

Otherwise, I think you'll be fine with grades/work exp as a sophomore. Just start networking hard.

[quote]The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.[/quote]
 

I don't know which MMs you are looking at or which school that you go to but MMs like HLHZ, Stifel, Cowen, etc. only accept juniors but people lie about their year and get in. So, in essence, I recommend lying about your year if you want to get a 100% chance. However, if you want to be truthful regarding your year there will be less chances compared to applying as a junior. You should just look into sophomore programs at BBs like JPM.

This is just from experience. Also, interned at a lower MM bank doing deal sizes +$100MM. Shoot me any questions if you want to get an idea of how to get a MM internship during your sophomore year.

 

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