My Sophomore Year Story

I figured I would share this story for any rising Sophomores who may feel "behind" or do not know what to do with the upcoming year. So here's my Sophomore year story...

This time last year, (summer before my Sophomore year) I realized that I wanted to pursue a career in Finance, and was very interested in the markets more than anything. I started reading as much as possible, and went from financial illiteracy, to a fundamental value investor who understood the most essential concepts of systematic risk and market movements. I spent my July/August/September reading relevant material in my free time, and eventually took this into a real life setting in my University's investment club.

I called the President of the Investment Fund, and pitched him myself and my story, and why I want to be involved in the Fund and what value I can add to the organization, and to myself. I interviewed for an analyst position and incorrectly answered some technical questions, but I showed passion and genuine interest which helped get me the position. Through this, my resume was starting to build its financial foundation.

I didn't know too much about a proper top-down analysis and how to pitch a company at the time, but i was thrown right into the mix and learned through application. Sure I fucked up and made a fool of myself in my initial presentations, but I quickly learned as it shaped and formed my character. I excelled at this position, and was constantly looking for more. I stood up as a leader in a new role, and helped change the organization and led our group into new areas never thought of before. This led to the addition of my Executive Treasurer role by the end of my Fall semester.

During that time, I knew I needed internships,but like most people, I did not have much experience besides what I had going for me currently. Also, my GPA coming off my Freshman year was reflective of my Non-Target party school and was moderately average at best.

I landed an unpaid PWM internship during my Fall semester of Sophomore year, which wasn't even PWM really considering I was an assistant doing recruiting work and administrative tasks. But I didnt care, I was hungry for experience, and took anything I could get. I knew I could spin this in future interviews anyways (Anything can).

I completed this internship, which sucked, and went on to the next one. I cold emailed every local firm in the area looking for a real PWM experience (I thought this is what i wanted to do at the time) and after over 100 emails, i received a couple interviews and landed an offer for a Spring gig at a large Mutual Fund working for a CFP. This was also unpaid. It was a good experience, but made me realize that I wanted to advise corporations on strategic initiatives, rather than individual people. Meanwhile, I was applying to transfer out of my shitty state school and completed two consecutive 4.0 GPA semesters.

In the midst of my second internship, recruiting was already going on for most SA banking gigs and I thought I was screwed. As a Sophomore from a non-target state school, I was not expecting an investment banking summer internship, but that didn't stop me. I cold-emailed and cold-called somewhere in excess of 500 different boutique investment banks in the North East area, specifically NYC. My retention rate was about .001%, and I was receiving minimal interest. I began to take a new strategy however, offering to be unpaid as I was genuinely interested in the industry and solely wanted experience. Now I was getting more responses. About 2%, to be exact.

However, most of the responses said something similar to "We are not currently hiring any Sophomores, please reach back out next year." I was pissed, frustrated, upset and felt as if I have failed at reaching a goal. Spring started to progress, and I wasn't getting any luck. I interviewed on the phone for a couple boutiques, but bombed the interviews and did not receive a call back.

An NYC based boutique investment bank showed interest after I emailed an Associate a few times, and they offered me a phone interview. Keep in mind, this was in April right as I was preparing for Final exams. This seemed to be my last shot.

I prepped for this interview so fucking hard. I knew everything about the firm, I knew everyone's name and background, I studied up on recent deals and reports that were available, and even knew the name of the Managing Director's kids. Call it weird, I call it being a relentless motivated maniac.

I killed the phone interview, and got a call a few days later saying that I progressed to round two. The analyst told me that most of the applicants are in the NYC area, and will be coming into the office for round 2. But since i was at a state-school very far away, she offered to do a skype interview. I kindly declined and said I would be on the next flight to New York tomorrow. I blew my booze money on a plane ticket, and flew up to the office on free will for round 2. I killed this one. It was with two analysts, and I knew so much about the firm that I was able to speak intelligently about the industry they focus on, and recent news released by the firm. I walked out, felt great, and hopped back on the plane and headed back to school so I could kill my finals in an equal fashion.

Literally the next day, I get a phone call saying that I did well and that they want me to come in for the last Round.. In Two days.. I just landed, and was in the library studying for an accounting final and they tell me that I NEED to come back for this one. Yeah, I was pissed. I knew there was no way I could fly up to NYC after just spending a ridiculous amount on airfare for the last flight, so I profusely searched for anything I could find. Even Amtrak rides. I found nothing that fit in my poor college-student budget. So I champed it out, threw on the ole' suit and tie, and hopped in my car and drove 826 miles by myself to make it to this interview on time. Meanwhile, I am listening to accounting lectures on tape in my car to study for a final taking place the following day.

I made it to the interview with plenty of time to spare. I sat in a nearby restaurant, nervously going over my story and answers to common interview questions. I am coming off of almost no sleep, and running on pure stress-filled energy. I went up to the interview 15 minutes early, and my game face was on. The MD greeted me, and we went into the conference room. The interview was filled with behavioral questions, and as my last interviews, I expressed how badly I wanted it (after jokingly talking about my 826 mile trip) and how much value I would add to the firm. Technical questions were not even asked, and we hit it off. I walked out of the interview, loosened up the collar and neck tie and hopped back in the car for another 826 miles back to the library for the midst of finals week.

Two hours before the accounting exam, I get a call from one of the analysts saying that I received the offer. I was fucking thrilled. I wanted to run around naked in this stress-filled University library. I held it in, and saved it for later. I accepted the offer over the phone, and I immediately felt my several grey hairs returning to normal pigmentation, and a massive weight-load began to fall off my shoulders. I felt accomplished, but i knew this was just the beginning of the race.

Today, here I am (as we all are) still running. Faster, to be exact. I finished that 12-week IBD internship in NYC, without even being paid a penny. Corporate slave? Sure, you can call it that. It was a fantastic experience, and I want more. 75-hour unpaid weeks are realistically 120 hour weeks, and I served them well. So, here I am, networking for next year's SA recruiting, and aggressively looking for another IB internship for Fall. All of this was completed with two 4.0 GPA semesters, while transferring to a new school and filling out applications and studying Finance on the side.

1,652 miles driven, non-refundable airfare tickets, hundreds of cold-emails, stress filled Im-a-failure type nights, 3 unpaid internships and here I am today. That, is my Sophomore year as an overlooked non-target student.

Moral of the story: You don't have to be the brightest bulb in the chandelier if you want it more than anyone else.

And the race continues...