Low GPA, relevant first year internship and finance-related extracurriculars
Hey guys,
this is my first post on WSO.
I am an undergraduate student at Germany's best university for Business Administration and have completed my first year. I am currently doing a ten-week internship at a German top tier law firm that also engages in business valuation within various contexts, which is the area that I am working in. These contexts e.g. include smaller M&A and corporate restructurings.
My aim is to do an internship at a bulge bracket investment bank or an elite boutique after completing my fourth semester.
However, one thing that could keep me from reaching that goal is my 3.0 GPA. My grades in finance-related courses are better, the ones in the rest of the courses unfortunately aren't in many cases.
My extracurricular activities include a membership at the 6-people board of my university's investment club that has approximately 500 members. Furthermore I am in the 11-people core team of a student association at my university that organizes a yearly financial conference. Former speakers of the conference include four nobel laureates as well as several former heads of state.
I am aware of the fact that as a German, it is difficult to get an internship at a U.S. office of an investment bank because of complications regarding a Visa. I also know that most of the members at WSO are American. Nonetheless, academic requirements for internships in London (where European students can obtain internships) are probably similar to the ones in the U.S.
Since there are many WSO members who have gained experience in the area through internships, I would like to know how important the GPA is and if it is possible for someone with my profile to get into an investment bank.
Thank you very much.
Where? In the US? How do you plan on getting a working Visa?
I don't necessarily want to do it in the U.S. Most German students either do it in Frankfurt or in London. Since the academic requirements there are probably very similar to the ones in the U.S., I still wanted to ask the mostly American members of WSO about their opinion.
I strongly doubt you have a chance to get a working Visa in the US for an internship. Strongly doubt.
As for London (assuming you won't require a working Visa)
Will someones opinion here, be it negative or positive sway you so far into a point of applying or not applying?
I would assume you're going to apply either way, but I was told having a "competitive" GPA, even when it comes to internships is a key point when applying.
That doesn't mean you can't cold call, speak to people personally, get to know people, and thus have a stronger chance. So regardless of your GPA, I would say try to apply either way as well as cold call and e-mail firms to get to know them on a personal basis.
(But personally I would not even try to apply for a working Visa for an internship anywhere that it's required, because it would be a waste of time. ---- although if someone can refute this point I'd be interested in hearing it.)
I will try it either way. Even if I don't get accepted, it wouldn't make sense in my opinion to not make use of the opportunity to apply. There many students at my university in the year above me with better GPAs who got accepted at bulge bracket banks. However, I know that there are at least four people in that year (of a class of 190 btw) who with GPAs ranging from 2.6 to 3.0 got internships at Citigroup and Credit Suisse in London by simply applying online. So there seems to be a chance for guys with grades like mine.
How much do you think do internships and extracurriculars count in the application process?
Hmm I'm not really sure what you're asking to be honest. How much do previous internships and extracurricular activities count towards another internship application or towards being hired by an IB? I'd say if they were relatable, then quite a bit either way.
You've answered your own question really. If those 4 people could it (I'm sure there were others as well), then you can as well.
In my opinion though, do more than just apply online. Try to get to know the people who make the decisions by kindly introducing yourself over the phone or through e-mail. You may not be able to get to speak to them directly but if you get their machine and leave a good impression you may increase your chances if they read your name on your resume and recall who you are.
That's all I can really tell you. Perhaps others will chime in, but you already seem to know what to do: try.
Good luck.
(assuming USA) for a sophomore internship, you have virtually 0% chance of getting in 3rd year internships might sponsor you, because it could lead to a hire- but 2nd years have no possibility of getting hired the subsequent hear, and regardless of how talented you are, you are not going to be worth the extra hassle for the company to process a Visa (which takes time and money) for you JUST so you can do an 10 week internship
you say "germany's best university for business administration" which means you've chosen to highlight the fact that your school is academically qualified, rather than internationally famous. FWIW, the only german university i've heard of is munich technical- but im willing to bet that you don't go there, which means from a standpoint of american recruiters, there is a very low probability your university will be known, which will make your application even more difficult
frankly, i don't think its necessarily your GPA that will hold you back, but the fact that you are an international student at a probably relatively unheard of university by american standards. also, your law firm work will most likely not be relevant- lawyers do not do valuation of any sort, which is the key "experience" investment banks are looking for. you will likely develop a good understanding of how M&A deals work legally, but will get 0 training on the technical aspects of valuing a merger deal
you have a better chance of applying to london, where people may have heard of your university. you have an even better chance if you apply for a 3rd year internship (after 6 semesters)
if you are still STRONGLY committed to this, i would recommend focus on building relationships at DB/UBS/CS/Barc, as the euro firms are more likely to know your school
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