Looking for advice: Bad Sophomore Internship...Worried About Junior Year
Hey everyone. I'm a sophomore at a target school with a 3.87 GPA and good ECs/leadership (although not great - no D1 sports, etc.).
However, the sophomore internship I currently have lined up is in the finance department of a no-name company that isn't even in the finance industry. And the only reason I got the job is because my neighbor works there.
So how fked am I for junior year BB IB recruiting (summer internships)? Should I start cold calling every local boutique investment bank and PE firm?
The problem is that I have no prior work experience because I didn't know what career/major I wanted to pursue during freshman year. Now I'm feeling a huge amount of regret.
And, looking on LinkedIn, basically everyone who has a BB junior internship from my school worked at either a PE firm, hedge fund, or F500 during their sophomore year.
Any advice would be appreciated. Thanks.
Jason2342, to be very blunt and honest with you, you're not "fked" because of your lack of a sophomore IB internship- you're "fked" because you clearly have not done any research into IB, and I am confident that you probably have not networked either.
The formula for a SA position is very simple: networking + high GPA + prior experience = offer. It is very simple. You already have the high GPA, now you just need the other two. You can take care of the networking portion easily. Take a look at my networking overview.
Now, all you have left is the prior experience portion. First off, are you able to renege this offer should you get a boutique IB internship for the summer? If so (i.e. if your school won't punish you), hit the pavement and start looking for boutique IB internships. If not, accept the fact that you missed the boat and move on. Second, it is not necessary to have prior IB experience for junior year SA recruiting. It helps, but it's not required. When looking at resumes for SA positions, I would ask myself two questions: 1). Is this kid smart? and 2). Does this kid have a legitimate and demonstrable interest in IB? You get a "yes" for the first part and can certainly get a "yes" for the second part by doing a good job at your internship, getting valuable experience, and then crafting a well-written resume (shameless plug for the WSO Resume Review service).
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