Rising Junior Summer Internship
I've been looking trying to get an internship in line for this summer (Preferably in IB, PWM or related). I'm not sure where to find a lot of them, heres where I am so far.
-Applied to a total of 31 paid internships and 3 unpaid internships.
-Another 10 (9 paid 1 unpaid) or so to be completed this weekend (Need to make a CL for each mostly)
-I've cast my net fairly wide: Paid: US Anywhere, Unpaid: Hometown only. I've also applied to pretty much any finance/business related position, not just IB PWM related.
-Examples of above: Finance Intern at small tech startup, treasury intern at marketing firm.
-Most of the above have come from my school's career site and internet searching. 3 of them (two corp fin and one a MM M&A firm) I got from networking and had them ask for my resume.
-I've exhausted my school's career site, an interschool career site, and a few other job boards (which weren't too helpful in the end).
As current sophomore I'm not sure where to either look for internships or begin the networking process. My last primary resource that I haven't exhausted it my schools alumni database (Which I am cross-referencing with Linkedin for updated info).
My main questions are: What is a good resource to find firms that are offer internships to rising juniors?
your network tell you, otherwise its a coldcalling, email search, linkedin stalking grind! Most middle market firms are interested juniors.
Interested in how things turn out for you. I'm doing similar things right now (rising junior). Have applied to pretty much what you have, still have yet to receive responses other than (looking for juniors, or grads, etc).
So far I've only applied to IB internships. Do you plan on looking into other internships such as finance at a F500? Or primarily just IB/PWM? Good luck.
I am applying to quite a few finance internships at F500s as well. I started with mostly IB/PWM when I was looking in November/December, but I am now applying to anything finance related.
I'm still having issues getting replies with the cold emails I've sent Additionally a lot of the firms I've talked with, which have been mostly MM, have been saying that they do not take rising junior interns as a policy. Is my net just too narrow? I've been focusing on IB/PWM and finance internships at small to large businesses.
summer internship for rising junior (Originally Posted: 05/20/2008)
I'm a current rising sophomore at a top 10 school (no business major)... my gpa is pretty low right now, but i'm hoping to pull it up to at least 3.5 next semester. I'm planning out my summer for next year (when i'll be a rising junior)- I have several questions:
THANKS
I know JPMorgan Sophomore Honors program is competitive. I got dinged.
Citigroup offers Sophomore Rotational Program, Lehman Brothers has a sophomore program for minority students, Morgan Stanely had a sophomore program but I heard that got rid of it this year at least, Goldman Sachs hires sophomores for their Investment Management positions (which are GSAM and PWM).
You could also look into boutique investment banks who are less strict about hiring only Juniors (rising seniors) for their summer programs.
Why are you so set on JP Morgan?
Best, SoulSearching
I know for fact the MS soph rotational program is alive an kickin': I prepped a friend of mine for the interview, and she got the job.
The programs are geared towards minorities and women. JP Morgan, and Lehman are explicit about this, the others are not, but looking at the interview schedules in my school this is the case for them as well. I think GSAM is the exception [I am doing it this summer].
This isn't to say you can't get in as a white male. It is just really difficult. The stats are ridiculous.
There are alot of opportunities in finance outside of IB that you can do as a sophomore that will be good for your resume. You can also try to work for free at small boutiques. Given this market though... chances aren't great.
EDIT: For the record, the sophomore opportunities at GSAM extend well beyond PWM - this is unique. Many BBs offer PWM (especially regional offices) internships that even freshman can get.
thanks for your guys' feedback. so would you all say the gpa cutoff is 3.5? what kinds of work experience/student involvement would they be looking for? what types of freshmen get those PWM internships? (i.e. stats?)
I would agree that the gpa cutoff is indeed 3.5. In terms of work experience/student involvement, I've long felt that as long as you can speak intelligently to what's on your resume, as well as show some sort of excitement when speaking about such things, it will be seen in a good light. Granted, any internship in financial services as a sophomore in these bad times can be considered good. PWM internships are good, but so are junior stockbroker internships. Just keep trying man. As for stats regarding PWM internships, the only ones that I've known who've gotten them have either ridiculous grades, or through a family connection.
Internships for Rising Junior? (Originally Posted: 03/14/2011)
I only recently decided I was interested in consulting (or at least keeping it as an option down the road) and need some advice on summer internships.
Experience so far:
But my resume so far doesn't really point towards MBB. I have the following options:
1) I have a family friend who's the head of a local mortgage bank who would most likely offer me an internship, but it is by no means a brand name company.
2) Work at the state environmental agency or the affordable housing developer
3) Network my ass off with alums and try to get an internship at a larger/Fortune 500 company (possible as a rising junior?)
Just wondering what you guys opinions are on my three options, I know I can get #1 and #2 but an internship at a larger company seems like a long shot. If #3 falls short, what is your opinion #1 vs #2?
You should also look into Private Wealth Management internships. I know there are a bunch of those, especially out here in LA. It's a lot of gruntwork... looking stuff up on bloomberg and whatnot, but it gets you ready for the research aspect of consulting.
What type of work would they have you do for the mortgage bank? I'd say thats the best option, behind what I just suggested. I say this because think about it: you've had one internship already, they want to see you've had experience in the real world prior to their firm giving you experience as well. It would look better to have a little diversity, rather than being in affordable housing for two summers. That could potentially bring the question up of why you are thinking of "switching" from that area, into consulting. The mortgage bank will essentially give you experience in a different aspect, allowing you to look at businesses on multiple levels, which is sort of what consultants like... I'm guessing.
Sophomore Summer? - Rising junior at upper tier target (Originally Posted: 05/10/2012)
Hi guys, I am a rising Junior at an upper tier target. This summer I was given the opportunity to work at a small boutique investment bank in NYC. I have a few friends who have worked at this bank previously and they have all told me that while the bank is...well...nameless, the deal flow is fantastic and they really do teach their interns how to model. The interns also both seem confident that having this internship your sophomore year will be a saving grace for BB recruiting next year (these interns both ended up at MS). I guess I am trying to figure out how true that is. Recruiting for this summer was kinda disappointing...I had what I felt was a solid resume and 3.95+ GPA but was literally getting no interview from the places I applied to. I'm not sure if that was because I had no finance experience previously or not, but I guess I just want to know how big of a deal boutique banking this summer.
Thanks!
You sound like a douche
^ Either that or just ignorant. OP, most students don't have finance-related internships after sophomore year. They're commonplace on WSO and they're becoming more and more widespread, but they still aren't required to get an internship after junior year. In fact, almost all BB banks don't even hire any rising juniors for internships. So yes, your internship will be a solid experience that should put you in a good position for SA recruiting next year.
I'm sorry...I honestly wasn't trying to come off as a douche. Its just that alot of ppl ive spoken with seem to have sophomore banking internships so wasn't sure how commonplace they were. I really appreciate the help. Thx
They're rare. If you know a lot of people who have them, you're hanging around people who are most likely the heads of finance/wall street clubs, the people who have had their sights set on IBD for a while, etc. While these are the people who will end up with jobs, there are many, many more slots as well. The fact that you're interning at a bank in NYC after sophomore year will help you tremendously if you do your work, take something away from it, and know how to be personable in an interview. Considering that you go to an upper target, I'd say the ball is totally in your court as to whether you'll end up getting a SA position or not for next year.
A sophomore IB internship is way ahead of the game, even if it's at a no-name boutique. With your school and GPA, I guarantee you will land a BB SA next summer.
Hey,
It is great you have a boutique lined up for your sophomore summer. I am kind of in the same position as you (rising junior); however, I have been reluctant to apply to boutiques because I want to teach myself financial modeling; hit the ground running if I do get hired (I know it is really late).
Could you elaborate on how rigorous the interview was? What types of technical and behavioral questions were you asked? How did you find out about the boutique (cold-call)?
Regards
Hi!
So I actually heard about the place I was working at from friends who had worked there previously. I then applied to the bank directly via our career site. Long story short...my friends who worked there went to Columbia and I went to a similar school that is much more finance-centered (...you probably can guess which). Because of my relatively heavy training in finance, I wasn't really asked any serious finance questions. They mostly just wanted to make sure I was a normal human being. They asked me about what I did for fun...which led to about a 15 min discussion of wakeboarding and crew.
From there, they asked me about my previous job and about my grades and how I was doing in my finance and accounting classes. Finally, I did a little research previously on spin offs....so the dude at the last second threw in a question about why a company would want to do a merger. Nothing huge though. The funny thing is...one of my friends was also hired by the bank...and apparently the same dude that interviewed me asked him tons of finance questions with very little behavioral stuff. Haha me might just have been having a good day when I came in to meet with him. PM me if I can be of any more help!
Rising junior: Two boutique ib internships? (Originally Posted: 08/09/2014)
Hi,
I am a rising junior looking to go into SA recruiting next year. I already have one boutique IB internship and I potentially have an offer at another boutique IB this upcoming fall. Is it worth it to have two boutique IB internships? Or should I try to explore a different internships in other roles in finance? Ultimately I want to set myself up well for IB SA recruiting.
If you want IB, do IB....
Yes, it's worth it.
Bulge Brackets that recruit Rising Juniors? (Originally Posted: 04/18/2012)
I know a there are a few banks that are strict about only taking rising seniors for internships but do you guys know of any reputable banks that take rising juniors? A list of Bulge Brackets, less heralded big banks (RBS, UBS) and boutiques like Evercore/Lazard/Perella Weinberg that accept rising juniors would be greatly appreciated.
Thanks :D
Most do but it's at least 10x as competitive as junior sa recruiting and is generally obtained through networking.
How would you differentiate from the BB's like JPM/GS/MS, the UBS/RBS/CS's of the world, and the Lazards/PWP/HLHZ/BNP Paribas's and Moelis and co's of the world in terms of how hard it is to get in for a rising junior?
They're all probably about equal in terms of difficulty because you'll have to network to get a spot as a sophomore unless you are applying to some specialized program (eg diversity, rotational). I know UBS has a fairly large rotational program for sophomores, but I don't think it includes rotations through IBD or any other front office positions. JPM has a diversity program for sophomores I think. Boutiques (at least well known ones like you posted) are probably less likely to take a sophomore because of the smaller intern classes.
Also UBS and CS are definitely BB's... You should disregard a lot of the negative comments about banks on this board because they are mostly jokes and beyond that it depends a lot more on what group you are in than what bank you are at (eg Barclays Nat Res is far better than the average GS/MS/JPM group).
Also how legit is Sandler O Neill for their Financial Institution's group btw?
Most of the sophomore positions are part of diversity programs. Anything else is through networking.
^Depends on the selectivity of the bank, there are a lot of boutiques that might be slightly smaller perfectly happy to take a sophomore and I'm not talking about no names either
Yeah JPM has two diversity programs: a frosh/soph program for URM and then a frosh/soph program for minorities. Whats the UBS rotational like, I've never actually heard of it, but do know some guys in BO/MO spots for UBS though (ops and trader support) so that might be a part of it. And whats your opinion on Barclays/RBS M&A? I know their pretty legit for DCM but their both on the decline for M&A and I guess its still "Bulge Bracket" despite their inherent flaws and probably easier to get into than one of the well known boutiqes
Barclays would be a great place to be, it's a bulge bracket bank just like the others (and shouldn't be any easier to get into than any others). In terms of M&A traditionally they haven't had an M&A group, rather each industry group has a dedicated M&A analyst, but I think just recently they merged them into a standalone M&A group. They're at the lower end of the bulge bracket in terms of M&A rankings I think, but being at any bulge bracket bank is still great. They did some high-profile deals last year, most notably Kinder Morgan - El Paso.
RBS I don't think has ever really been considered a BB and they have been cutting a lot of jobs in IBD as they are still owned by the British government and having to deal with all of that. You shouldn't be ruling out any firms of this level for a sophomore internship, but long-term you'd be better off at any of the BB's or solid boutiques than at RBS.
Are you a minority? You should look into SEO and Inroads.
I know rising sophomores who did GS IBD SA
I'm not a minority man, kinda wish I was sometime so that I could use SEO and Inroads haha
@jgx101
Was that through networking or was the kid's dad an MD or something? Also what types of schools?
RBS really isn't a BB but they rank on league tables for DCM and they rank like 14th overall for banks so they aren't your worst option. RBS is cutting jobs but more than that working full time is whats really the problem since their base salary is fine but the bonuses are always small in comparison to their competitors. BTW I will have boutique IBD experience in NYC or PE experience going into my search for the Sophomore internship so how much would that help in making my candidacy more credible
I know BAML has taken some rising juniors before
Also anyone know anything about Citibank M&A and how hard they are as opposed to BAML IBD? LOL I'm basically trying to figure out the easiest, least "regarded" BB group of M&A so that I wouldn't be taking a step backwards next year, any guys know something completely random like JPM ECM that might be slightly easier to get into? Also I've been hearing a lot lately about how Wells Fargo IBD is really on the move and improving
Most banks don't hire interns directly into specific groups, rather they just give out generalist offers and after accepting an offer you are assigned to a group. Some banks do recruit for IBD and ECM/DCM separately though and ECM/DCM might be slightly easier to get into. Truthfully though your best bet anywhere is by networking, and your best chance is the place where you develop the best relationships.
brutalglide was the BAML hires something 'out of the blue" or was it through on campus recruiting?
Silver banana for you sir, good advice!
Honestly I wouldn't be targeting specific banks/groups. As a rising junior, just build relationships with every BB/boutique/MM and see what happens. In terms of BAML, I'm pretty sure the kid I knew who got IBD landed it through his own networking efforts.
BAML has a sophomore combined S&T/IBD program. They only accept 4 or 5 interns a year though. My friend did a tech internship her freshman summer at BAML, told HR she was interested in S&T, got a recommendation from her manager, and then interviewed for the sophomore S&T/IBD program and got the offer.
My cousin got into BAML IBD as a sophomore through networking...from a shit school.
Headhunters for Equity Research (Originally Posted: 11/28/2012)
Has anyone had good experience with headhunters that specialize in equity research? Any names would be appreciated.
I would like to ask the same question. If there are any experienced headhunters you guys can recommend that would be really appreciated...
HY / distressed research headhunters London (Originally Posted: 10/29/2014)
Hi,
Can anyone recommend useful (not just claiming to cover the space) high yield / distressed debt research headhunters for London?
Thanks much
for distressed hedge funds its Hinton Rose - the rest goes through networks or personal connections most of the time - but as I said in another thread, cast your net wide (e.g. talk to all larger headhunters and mention what specifically you are looking for). Its not that structured over here so while some headhunters may offer a range of roles in the same vertical most roles come by randomly and hence through random headhunters that may normally not cover that vertical. Some offer L/S only but then have some special sits funds in there and also the other way around. Similar story for merger arb etc.
http://www.wallstreetoasis.com/forums/hf-headhunters-in-london#cid-1190…
Rising Junior Internship, help! (Originally Posted: 02/22/2016)
xxxxx
Take the Bayer position. It's a decent brand name, and the skills you will utilize there - though not directly related to IB - can likely be spun in a way to look good.
Rising Junior looking for SA stint (Originally Posted: 08/11/2010)
I'm a rising junior at a semi-target with IB experience and have studied modeling and accounting fairly intensely in my free time. By stating that I have modeling experience, am I opening myself to be grilled by technical questions? How would I best qualify my experience? For example, while I did build these models from the ground up, in the lbo model I did not create various tranches of debt. It was a very simple waterfall.
[removed]
Thanks
.
Honestly an IB experience as a rising junior is impressive. There is no need to exaggerate on your resume. Say what you did, in the best way possible of course, and be ready to explain it.
If you didn't do some highly sophisticated model with multiple debt tranches, just say that you didn't. They aren't going to thing "lol, what a moron. 19 years old and can't tackle a LBO solo". Cut yourself some slack. You are a sophomore. Most kids were working McJobs after freshman summer, if anything.
Rising Junior Trying to get in to IBD (Originally Posted: 07/25/2011)
Hey guys,
I go to a non-target and I'm looking to get an internship in IB next summer. I worked at a fortune 500 company this summer as a business analyst and although I didn't work specifically in finance it was analytical. Here is my resume, any input you might have would be great.
Thanks
http://www.razume.com/documents/21017
anyone?
Looks great. I would change 'professional GPA' to 'Major GPA' and move it up to the line starting with "bachelor" You could work a little bit on your bullet points for your most recent internship...they aren't terribly substantive (ie no numbers). but it still is better than most for a sophomore summer. under your fraternity, i wouldn't start a bullet with "responsible for", that is pretty nitpicky though. also, don't end your bullets in periods, it looks a little bit tacky.
put your skills at the end on the same line. add a line for interests, i think it is important for banking/banking interviews.
overall, very good resume. depending on your school you should be in good shape for i-banking interviews for next summer with the help of a little networking.
Rising Junior, Hope to Break into IB next summer (Originally Posted: 05/26/2009)
I am going to be a Junior next year at a small semi-target school. I just landed a 6 week paid internship at an small Investment Management firm starting in early July. Currently, I am working at a law firm doing clerk work to make some money in the mean time. I have a 3.6+ GPA and have taken 2-3 Finance/Accounting classes so far.
My goal is to land an SA position at a BB next summer. I know there have been a lot of posts similar in nature to this one in the past and i have looked at a lot of those, however any specific guidance would be much appreciated. i.e. how to spin my my work at the law firm to look good in an interview aside from the long hours i work...and things i should do/pay attention to at the investment management firm that will help me in an ib interview this fall
this is my first time posting (been a reader for a while) so i would really appreciate ANY constructive help i could get
thanks
my best advice is: be first one in, last on out a the firm. Work yourself to the absolute bone. Then ask for a reference, and ask them if they know anyone in IB.
I realized my biggest mistake was not being 100% sure what I wanted to do. Be ready to network with recruiters and upperclassmen and read a lot about banking. It's good to get in the game early. And see if you can get more internship experience, cause you will likely get asked why you only worked at a company for 6 weeks.
Internship Advice - Rising junior at a "semi-target" (Originally Posted: 07/03/2009)
I am a rising Junior at a "semi-target" school with a high GPA. I have an internship in Debt Capital Markets and I have (so far) had a very rewarding experience. I have learned a lot and have been given a lot of responsibility. The bank I am interning with is considered middle market. I am actually interested in S&T, but landed this Capital Markets gig instead. My questions is how I would go about leveraging this opportunity into an internship in S&T (preferably with a BB Firm). Is my experience going to be helpful in catching the eyes of BB employers? I have alumni contacts at each of the top firms, but some are MD's in Investment Banking instead of S&T. I developed these contacts very early on before I decided that I wanted to do S&T instead. Any advice would be helpful. Thank you!!
I apologize in advance if I missed anything while searching for similar threads.
DCM involves a lot of market analysis, watching levels and pitching - it's definitely different than S&T, but those are a few similarities. The best way to go about making the S&T switch is to highlight your relative strengths and experiences from DCM as they could be applied to S&T. Highlight the pitches you have worked on, any market analysis, and then any other projects that you may have worked on that are just generally noteworthy. While it's far from exactly the same, it should show some similarities, and, considering IB is often considered difficult to break into, that alone should help to work in your favor.
The next thing will be to get on contacting your network, and get the word out. Have a compelling reason why S&T, when you've already done banking. I did S&T first, then moved to banking, and one of the bigger issues will be to have a valid and actual reason for your decision to pursue S&T instead of banking. Even MD's on the IB side should be able to help, as they will be in contact with S&T people at least in the commodities or global rates groups, so reach out and show an interest (without, of course, insulting your IB contacts). I've seen a few people do it with less contacts, so rest assured, you've definitely got a shot. Best of luck to you sir.
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ib internship for a rising junior (Originally Posted: 12/06/2013)
So here is my case... I am halfway through my sophomore year at a tier two school currently carrying about a 3.2 gpa with 1 prior internship at a small brokerage where I worked mostly in compliance. However I am interested in IB and am not sure what my best course of action is to attempt to break into the industry. I have already applied to multiple positions (mostly ib) at numerous bulge bracket banks. Should I be cold calling/emails boutique banks or ? ...in need of some guidance please.
You won't get BB sophomore year from a T2 school with a 3.2 gpa. You should be focusing on boutiques to build your resume for next year.
As @wsoanon said, it will be very difficult because you are a sophomore.
One of the reasons for this is because employers want you to focus on school the first two years of college, to establish your self as a student. If this is done smart and disciplined students will have well established a GPA that is representative of their capabilities.
I recommend you really focus on studying and bringing your GPA up, taking finance related courses, and network/join finance & accounting clubs. That should be your first priority.
^ Get GPA up. You can start networking but it's not very likely you're going to get a BB IB internship as a sophomore with those stats.
I'm at a T2 school as well, with about the same experience as you, but a much higher GPA. In the meantime, keep networking while you bring your GPA up. Personally, I'm looking to get something along the lines of PWM for the summer. I believe it's the best course of action to prepare me for a IBD internship junior year.
Rising Junior internship in non-finance related fields (Originally Posted: 10/24/2011)
So I'm currently a sophomore hoping to break into investment banking, but the sophomore rotation programs are tough to get into. I'm not quite sure how the boutiques work in terms of compensation (assuming I could get one in the first place). What if I found an internship that was non-finance related, such as an human resource internship at a firm that builds engines.
What are your thoughts on this? Could I spin it off in some way that could be to my benefit? or should I just not bother with a possible hr internship? Any advice is welcomed. thanks in advance.
Definitely not as helpful as something finance related, and HR would probably not be helpful at all. Network your way into a MM or boutique somewhere. If that fails, network your way into PWM.
That does make sense. Can people offer advice on networking? I've read my share of material on networking, but it's still difficult. I'm not good at it, but i definitely try. I go to the networking sessions that are held at my college and I go into a conversation amid a group of 5 to 6 people. I find it difficult to stand out sometimes, but i ask questions whenever I can. I do have the contact information of the people i meet, such as an md, recruiters, and 1st and 2nd year analysts. I actually met one analyst multiple times and I hope she finally remembers me without having me to remind her where we met before.
In a lot of responses to thank you emails, they say that I could reach out to them. should i take advantage of this seemingly empty gesture and call their bluff? Should I ask for an informational interview or something when I am in nyc?
I second the PWM idea; there's almost no way you don't get that.
You don't necessarily have to be in the same place to have an informational interview; when they say feel free to reach out, shoot them back an email at some point asking for 10-15 minutes to chat over the phone. Ask them about their background, their current firm, how they came there, and about what internship/analyst programs they offer. If it's gone well, then at the end you can even straight up ask how can you best position yourself for one of these positions.
Read the Mergers and Inquisitions articles on networking; they're really helpful. Most of the contacts I found came from our alumni database or from looking up people in firms (a lot of MM/Boutique banks including elite ones have all their employees from Associate/VP upward).
what is the main purpose of a rising junior internship? (Originally Posted: 06/18/2012)
I'm currently working at an Asset Management company abroad in asia. On my team there is only one other intern. She is trying her ass off working and getting work while I'm doing just what is given to me. My goal is to get a BB IBD role in the U.S. so I'm only doing this to put something on my resume for my junior summer internship application. Should I just kind of coast through this internship while picking up on a few things on the way or should I go all out to try to find as much work as I can, even going to other departments to ask for work? I really don't see much benefit is trying that hard in this internship, if there are please indicate.
thanks
well, did you at least do enough so you can write resume points relevant to IB? Especially if you are doing your internship abroad, what you actually did will be important since you can't write "Well-known bank name NYC
I intern in the channel sales department at the Asset Management company. I had a project where I put together a file that I copy and pasted information about different mutual funds. Other than that I haven't really done shit.
quit already
Do something worth talking about in an interview and placing on a resume. If you currently not receiving any tasks worth talking about then seek them out.
It is to prove that you can hold down some sort of desk job. In addition to showing up to work on time at the pool or McDonald's, you now need to show up dressed appropriately and do something that involves the skillset from your college degree for $10/hour.
Think of it as a transition between prior summer jobs and an internship at an investment bank.
What would be some example of things I should seek out that would benefit me when I apply for BB IBD?
Rising Junior summer internship!?!?!? (Originally Posted: 04/14/2011)
Hi all, I am a rising junior at a non-target school. My goal is to get a full time offer from BB / middle market I-bank by the time I graduate. I am in search of internships right now, and I just need to figure out what my chances are, and set my priority straight.
Although I go to a non-target school, I am deeply involved with my campus's 3 major finance clubs. I've been trying to get myself exposed to finance as much as possible, and as a result, I have some ideas in valuation, DCF, M&A, etc.
Here is my dilemma:
I have a possible internship for the summer, at Lancer Group. - a retained executive search firm with a national reach. They specialize in recruiting high-impact senior executives for leading corporations and for portfolio companies of private equity firms and hedge funds.
However, I would much prefer an opportunity to build my experience with an internship at I-Bank. My plan is to cold-call / email boutique banks by June, and hopefully something would come up. I'm hoping that my knowledge (although it's little) in finance and hunger for I-banking internship would lead me to a SA position.
I also have an internship at a Securities firm and my boss said he might be able to forward my resume to Merrill Lynch IBD through his contact there.
long story short: I am a second year and looking for a SA position at a boutique bank. Is this realistic? Or should I just stick to Lancer Group internship? - I would be a Research analyst there if I work there.
I don't want to miss both opportunities by chasing something that is out of my range. Any suggestions? I would really appreciate it
Most BB are done with recruiting for SA. Go do a PWM internship to get some experience.
.
Rising Junior in an internship search (Originally Posted: 07/20/2010)
I'm a rising junior at Williams, a decent non/semi-target liberal arts college. This past summer I have been interning at a large energy brokerage that I received through a connection but have decided that I want to try out something in PWM or trading next summer. I'm a varsity athlete double majoring in Econ and another major with a B- (weak) GPA due to first-year shenanigans and a shitty disease first semester of last year. However, I know I will get it up this semester but my questions are as follow:
When talking to Alums and friends in the industry, should I try to put off mentioning anything regarding my GPA until they ask ( down the line after a few emails/calls)... or should I just wait until the semester is over before I try to look for anything/ cold call or email and send out applications?
and
is a BB firm out of the question for me and should I stick to Tier-2 or smaller less-reputable firms?
Any comments are much appreciated, thanks!
that VD gets 'em every time...
I maintain a shitty gpa as well. A professor and now close friend of mine told me that its important to address it. Do so confidently and express your interests/concerns/etc. around it and you end up making yourself look alot better. I've had now multiple internship opportunities where the person whom I send a cover letter to actually emailed back just to note their respect for my openness about my 2.9 GPA. You will get people who are turned off by the gpa, but youll also get people that will say something along the lines of "Oh yeah, i remember freshman year! I barely maintained a 2.0, I'm just glad to see your drive, other analytical skills, etc." Say something like "Regarding my gpa, I hope that you can see my potential in more than a number. Freshman year was a real adjustment period for me. While I may not have maintained perfect grades, I was able to learn to code Excel macros and get bloomberg certification during that year, all while maintaining division one varsity athlete status."
Even if it's in conversation, just know how to address it. Maybe not so much in the investment banking world(I dont know much about it), but especially in things like trading, theres alot of guys out there that know that things come down to more than a gpa. Confidence is key.
Thanks Blong, I appreciate that. Hopefully it does work out.
Rising Junior at Semi-target, Where to Apply? (Originally Posted: 07/03/2013)
Hey all,
As the title states, I am a rising junior at a semi-target. I'm majoring in econ and minoring in financial econ, and have a 3.6 GPA. Am currently interning at a brokerage. I'm trying to concentrate my networking efforts on banks that are not too selective and that offer good summer IBD internships from which they routinely hire for full time. I've made a short list so far which is as follows:
BAML Deutsche Bank - probably more selective than the others on this list, but I have a couple of really good contacts here HSBC Jefferies Piper Jaffray Raymond James UBS - good contact here as well Wells Fargo
Obviously these are all very good banks and they are all very difficult to land offers at. However, my impression is that they are still within reach for someone in my position. I'm really hoping that some of you can suggest some mid-sized banks or boutiques that fit my criteria, but any general comments or pieces of advice are welcome. I think the ideal would be about 15 banks, and I would strive for 2 or 3 contacts at each of them.
Vanderbilt?
Yep, vandy
Can't say I recommend any because you think of/portray yourself as "rising" and thus are a douchebag.
Your impression of me aside, are douchebags not allowed to be bankers?
Touche. You're still a douchebag though.
pretty sure this is a prerequisite.
I'm currently thinking about going to Vanderbilt vs UVA and was wondering if you had any insight about Vanderbilt for investment banking?
Vandy is solid for Ibanking as is UVA. can't really go too wrong there.
Yeah, I would agree with Ipso facto and say that they're probably pretty comparable with regard to recruiting. I would focus on other factors like school size and cost of attendance.
Rising Junior Internship Problems (Originally Posted: 05/05/2013)
Things are coming close, I've applied to about 50 or so internships, heard back from 10 and gotten turned down for 9/10. These have encompassed a pretty wide range of finance-related(ish) fields from IB to operations and tax and have been paid and unpaid.
My goal is to get a job at one of the BB banks in M&A, so I'm looking the SA internships next year. It's looking like its very possible that I may not get an internship this summer and I'm worried that it will prevent me from getting one of the more competitive internships next year.
Currently I'm just continuing to apply to more, but it is looking increasingly likely I will have nothing come late May/June.
How can I reinforce my resume and gain the experience I need without an internship? My contingency-plan right now is to get a job (min-wage) and work through BIWS / Visual Basic / Japanese. What is my best coarse of action if I am unable to secure an internship?
Hopefully you have a leadership position in a finance club and a high GPA. Do something meaningful this summer if you can't find work. Go save kids in Africa, double your money day trading, found a startup company, etc. Or officially start a company called Something Capital Management LLC and create a internship at a "fake" hedge fund.
I agree mostly with what Globan said minus the creating an internship with a "fake" hedge fund, I could definitely see bankers finding this disingenuous and calling you out in an interview. I think a summer service experience might be a very good bet. No one is going to look down on spending a couple months doing service in South America, Africa, even a poor region of the U.S.. If you actually have good intentions and think you will gain something from it that would be a good route to go. Additionally, I would try reaching out to alumni at your school and see if you can create something like an externship with their firm by working for a week or 2 or just shadow them for a couple days. This way you could at least have something finance related on your resume and someone from you school may be willing to help you out. Not having anything on your resume would definitely hurt you significantly, you have to be able to show them you did something with yourself this summer.
Take summer class and ask your professor to assign a "fake" research project he'll oversee unofficially. Ask your school's investment fund if you can cover some stocks over the summer Write articles for Wikinvest (dunno what it's called now)
DONT save kids in Africa and DONT start a new company and definitely DONT make up a fake company internship
Rising Junior - Summer Internships? (Originally Posted: 01/05/2010)
I'll be a Junior in the Fall and I'm at a non-target school. I'm looking for some type of internship for this summer that would be help me get an IB internship in the summer of 2011. I'm currently interning at a trading/advisory firm and was previously at UBS Wealth Management. My GPA isn't the best (3.0-3.4 range) but I'm planning to get it up to at least a 3.5 by this time next year.
I was looking at trying to get an internship at a hedge fund for the summer...but I'm not really sure...
Any help would be much appreciated.
EDIT:
Let me just fix what I wanted to say.
Basically I'll be a Junior in the Fall and I'm looking for an internship this summer that will help me land an IB SA position for summer 2011
I did PWM at UBS last summer until November and I'm currently at a small boutique doing equity research. My current internship ends whenever I want to leave.
So basically I have two questions.
1 Where should I be looking for internships for this summer? I don't think doing another PWM will look good, but I don't think there is any chance at getting an IB position at a small firm
2 If I stay at this current internship for a year or more, will that hurt me?
...Got a question we can answer?
DECLARATIVE STATEMENTS!
I would highly recommend trying to intern at UBS Wealth Management if you can - that would open a lot of doors in terms of people to speak to and network with for landing a junior summer position. The hedge fund experience would be more ideal if you're interested more in S&T down the road -- that would be preferable than Wealth Management for you to sell yourself as a trader/sales person.
Coming from a non-target you still have a lot of options if you can contact alums from your school starting now, and try to learn more about what role/firm you'd ideally like to be at for the summer after junior year. Once you figure that out, it'd be a lot easier to advise you on what to do this summer in order to get there.
I've written posts for students coming from non-targets and how they should break into banking/consulting in the link below. feel free to get in touch.
Chase Us, Break In!
The Recruiting Ace: An Inside Look at Finance and Consulting RESUME AND COVER LETTER RE-WRITES http://chasingconsultantsbreakingbankers.blogspot.com/
You need to find an internship with as much financial exposure as possible. I'd suggest looking into smaller banks or just spend some time doing the standard IB prep courses to differentiate yourself.
Hey thanks for the responses!
I fixed the post to be a little more clear.
Thanks! any help is greatly appreciated
Bump!
summer internship dilemma - rising junior (Originally Posted: 06/15/2015)
Just wanted some advice in terms of what the best approach is for this situation. I just started interning at a PE startup. In addition, I have just received a part time MO position at a BB (GS, JPM, MS). I told the interviewer about my current position ( regret doing but during the time I figured it would make me more competitive). The BB has expressed that they don't want me doing both. The way I look at it , the work I'm doing at both places is fairly unrelated and there are no competition issues. My biggest concern would be if I did do both and firms saw this during recruitment next year ( resume dates, rising junior, goal is IB) if this would bring up issues. I want as much experience as possible this summer so my initial plan is to do both. Thoughts?
I would say stay at the PE startup. I worry that the MO work, regardless of if you're at a BB or not, would not be as relevant and the PE work would be seen as more significant during the FT recruiting process. I wouldn't switch just because of a brand name firm.
MO work is not relevant to IB, even if done at a top bank. PE, boutique IB, F500 M&A, etc. are all more relevant and better internships if banking is your end goal. Keep the PE internship, renege on the MO one, and move on. Next time, ask about this issue during your first interview. Good luck!
...
Probably for the same reason that you cannot just start providing paid financial advice to friends or start an options HF in your basement. Too many potential regulatory problems.
By the way I did not mention that the PE is unpaid and I am not technically employed by them ( no SS attachment and wouldn't show on background check) which is another reason why I'm leaning towards doing both given the BB is part time. The way I look at it is I'm basically volunteering for the PE firm, which to me says that it shouldn't be a problem, but like I said I'm not experienced in this. With that said, I have been told by several bankers the importance of having a finance brand name on your resume, regardless of the actual work or position.
Rising Junior IB Internship (Originally Posted: 08/01/2012)
Hey guys,
Recently got an email from a boutique IB asking me to send in my resume after attending a program. I have only just begun to update my resume with my current internship information from the summer and there is not enough space. Could you guys help me consolidate it into one page?
Advise me on what to take out, expand on, etc.
http://www.razume.com/documents/26725
And yes, I know there are two pages. Trying to get it down to one!
Thanks, -azmonkey
Just an initial observation: You have way too many entries. Stick with 3 or 4 and expand on those. Reading your resume was like reading an essay.
Also, if you're going to block out organizations'/firms' names, you might as well block out all of it, along with the location. I already figured out where you go to school with a simple Google search.
July 2012-July 2012 looks weird. Just put July 2012. You have more points under your leadership activities than internships, so you should probably cut there.
At first glance you probably can put Beta Alpha Psi under honors and cut down the bullets from the last community service entry to just the first one.
Also the hyphen between the dates on your current internship is not in line with the other ones.
I would cut down amount of bullets on leadership. If they want to know about those experiences, let them ask and then you can wow them with your stories.
Rising junior hoping for an internship at a BB (Originally Posted: 08/27/2009)
Hi everyone, I've been following the site for quite a while, but I guess this is my first post. As a rising junior I am finishing up my internship and was wondering my chances at a BB firm. Any input would be greatly appreciated. Thanks!
http://www.razume.com/documents/142
your work exp is good but gpa is shit :( You're gonna have some stiff competition from the biz school. I think you have a decent shot though.
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