How to tackle the Sophomore Internship Search

I'm currently a sophomore in the Dyson School (AEM) at Cornell University. I've worked at multiple small consulting firms prior to this year; however, I truly want to work in IB/M&A. Unfortunately, I am not eligible for all of these diversity IB programs, thus I am seeking advice on how to tackle the sophomore internship search. Any advice would be appreciated.

 
tlynch5:
Sophomore deadlines are over.
Lies.

Most on-campus deadlines for sophomore programs are in the next two weeks. I did a BB summer as a sophomore, PM me if you have questions.

 

I may be wrong but looking at these when I was a sophomore that vast majoriy of BB programs open to sophomores are reserved for diversity candidates. That said with a 4.0 from a target you could probably get into the regular SA program as a sophomore provided you do some networking.

Don't worry about getting a BB position this summer though. Get something at a boutique (even if unpaid), you'll get good experience, probably work better hours, and set yourself up just fine for a BB program next year.

 

I don't think you should "twist" your graduate date as some companies do plan to give offers to juniors and as sophomore, I don't think companies would want to wait. I am a sophomore as well. I believe one reason they want to hire juniors is due to the higher classes they took.

With that being said, I do believe freshman and sophomores could land a PWM jobs. In Texas, PWM jobs are normally filled by sophomores. Maybe you could contact the HR dept in the office close to you? Do you have any working experience?

 

Alright guys, thanks! I guess I can still apply even if it states "current Junior" in minimum requirement. Am going to try BAML and Morgan Stanley, maybe Barclays.

 

Doing LSE would allow me to knock out two more core classes on a pass/fail basis that would ultimately help my gpa and act as my study abroad experience since I would then stay at my target during the fall. Which do you think is more valuable, a .1 bump on my gpa and studying abroad? Or a more organized internship?

 

I think if you got an internship at a regional boutique it would be a lot more than being a secretary and it would be more impressive on your resume than driving buses.

 

A lot of people have told me that a huge part of interships is networking, so even if the internship is just a lot of secretarial work you may still meet people there that can help you out with a job after the internship, id say take the secretarial work if that is what it comes down to

 

You should be applying absolutely everywhere. Why limit yourself?

You'll do just fine coming from Columbia, but imo, you really need to set your sights lower. By all means, apply everywhere that recruits on campus, but know that unless you know someone, the odds of Blackstone or MS taking a sophomore for a banking position with a 3.5, even from a top school are slim to none.

 

Most of what I spoke to OP about was specific to McCombs, so I won't share that. But here is the generic things I told him:

1) Try to get on one of the investment teams on campus at the beginning of the fall semester (they are organizations that have real equity funds). These teams will help you recruit better. 2) Reach out to local boutique IB firms for positions in the fall and spring ASAP 3) Try to reach out to alumni right now and ask if you could talk to them for a few minutes (aka informational interview). Look on linkedin, the alumni directory, talk to friends, join finance organizations and ask the officers for advice

For interview prep and increasing your knowledge, read all the IB guides out there and the Rosenbaum book.

IMO, that is enough to prepare for any interview. You definitely want to follow the markets and know your favorite sectors (mergermarket, bloomberg, etc). Definitely do mock interviews whenever possible. This is kinda what everyone else says, but networking is the biggest thing when you're just a sophomore. Make meaningful connections and leave a good impression.

I have a lot of work so I didn't elaborate on much. If anyone any more questions feel free to ask.

 
mavs123:
Most of what I spoke to OP about was specific to McCombs, so I won't share that. But here is the generic things I told him:

1) Try to get on one of the investment teams on campus at the beginning of the fall semester (they are organizations that have real equity funds). These teams will help you recruit better. 2) Reach out to local boutique IB firms for positions in the fall and spring ASAP 3) Try to reach out to alumni right now and ask if you could talk to them for a few minutes (aka informational interview). Look on linkedin, the alumni directory, talk to friends, join finance organizations and ask the officers for advice

For interview prep and increasing your knowledge, read all the IB guides out there and the Rosenbaum book.

IMO, that is enough to prepare for any interview. You definitely want to follow the markets and know your favorite sectors (mergermarket, bloomberg, etc). Definitely do mock interviews whenever possible. This is kinda what everyone else says, but networking is the biggest thing when you're just a sophomore. Make meaningful connections and leave a good impression.

I have a lot of work so I didn't elaborate on much. If anyone any more questions feel free to ask.

Good advice. One thing I might add is to look at firms that don't recruit as heavily on campus, as many of these may only look at juniors.

 

I spoke to an MD today that, believe it or not, recommended I start taking my CFA exams in sophomore year so as to make me more marketable. Maybe that could be a catalyst? I'm in the same boat as you but I at least have an offer to fall back on, albeit it is in the Middle East. Networking is a pain in the ass. A lot of alumnus are willing to take your questions but a very small number of contacts would offer to refer you to HR. In fact, some get offended and think your too direct - I say, what did you think was the primary goal of talking to you?

 
CNB90:
I spoke to an MD today that, believe it or not, recommended I start taking my CFA exams in sophomore year so as to make me more marketable. Maybe that could be a catalyst? I'm in the same boat as you but I at least have an offer to fall back on, albeit it is in the Middle East. Networking is a pain in the ass. A lot of alumnus are willing to take your questions but a very small number of contacts would offer to refer you to HR. In fact, some get offended and think your too direct - I say, what did you think was the primary goal of talking to you?

Very true, I have experienced everything you mentioned this summer (except middle east). I find it a very awkward balance of not being too direct while still working towards the goal of working there.

 

Wow, Taking the CFA's this early is news to me. I'm not even sure how to break into the recruiting at UCLA as its dominated by a singular student organization that meets with all the BB's to determine a recruiting schedule, which i lacked the foresight to join last year. I'm hoping I can break in without cold-calling all of the alumni in the field with the hope of finding that needle in the hay-stack, of a higher-up friendly and helpful senoir banker who also understands my sense of humor. I botched a couple of phone interviews when people don't understand I am making a joke(interviewer: "it says here on your resume you are proficient in c++ and javascript, how about the Microsoft office package." me: "I'm actually a bigger fan of using Mac's word processors." Interviewer: 'So you dont know how to use any of microsoft office?" Me:facepalm "no no, I'm actually very good with excel, powerpoint and the whole microsoft office package.") How did you land the middle eastern job?

 

UCLA has resume drops around Dec/Jan for SA positions. Just join the UBS, I don't think it's an exclusive organization.

Also, life lesson, don't be smug/funny/sarcastic in an interview. I don't care how smart I thought you were if you gave me that answer in an interview it would have been an auto ding. I would have probably wrapped the interview up real quick. Grow up and use common sense. It's one thing if you have a good report going with the interviewer you can make a light hearted joke it's another thing to essentially mock his question. Your answer was basically no shit I know word, what a dumb question.

Side note, you can't even register for the CFA unless you have your degree or are in your final year of school. Also, the CFA isn't for banking or PE its more for asset management, something to consider depending on what your career interests are.

 
ke18sb:
UCLA has resume drops around Dec/Jan for SA positions. Just join the UBS, I don't think it's an exclusive organization.

Also, life lesson, don't be smug/funny/sarcastic in an interview. I don't care how smart I thought you were if you gave me that answer in an interview it would have been an auto ding. I would have probably wrapped the interview up real quick..

Trust me, I learned that one pretty fast after my first potential phone interview went down the tubes. After extensive cold calling, I picked up on the subtle taboo's of networking and Interviewing. took my sisters advice to be funny too seriously, ironically, (She's an NYC teacher), so in retrospect i should of realized the enormous professional gap between the interview process's of finance and teaching.

 
[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]
 

The reason why they are trolling is because if you go to a target school you should already know the answer to this question. Look around and do the research yourself. Check out the BB around your school and network your way way in.

The Four E's of investment "The greatest Enemies of the Equity investor are Expenses and Emotions."- Warren Buffet
 
General Disarray:
ε>

Mind-blown.

[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]
 

There are SA positions for URM/female sophomores, but if you're very well-connected or have an incredible resume (e.g. top target, top grades, great experience) then it's possible. If not, look elsewhere and apply during junior year. The early graduation thing doesn't sit well with recruiters because you can always "fake" graduating early - for all they know, you're just using that to get a really good sophomore position so you can get something even better during your junior year.

 

I had a roommate in a dorm I lived in when I interned in NYC 3 summers ago who had a GS internship as a sophomore, so I know they have a program too.

Other than that I would say just network. Find a list of boutiques and try and reach out to someone at the company. Cold email if you have to. State school or not, with a 3.7 and the list of EC's you have, someone should be willing to at least talk to you. Try your best to find alums, and you should be able to find something, even if it's small. As long as you get exposed to IB, it'll give you a good starting point for interviews next year.

I would agree with you, but then we'd both be wrong.
 

I'm on the same ship as you.. coming from non-target with a gpa a little higher than yours and similar extracurricular.

I've applied to barclays and JP Morgan. I wanted to apply to more but I started applying a bit late. I'm going to go the route of cold emailing boutique firms.

 

Well, seeing as how you're speaking in hindsight, it doesn't matter whether or not your current internship is a brand name or not -- it's already happened. Just worry about crafting your story and networking.

Also, speaking from experience, a BB PWM internship consists of primarily bullshit work (though probably dependent on your office/superiors). It sounds like you got meaningful work and a learning experience this summer, so I would value that experience above any PWM. It certainly doesn't sound like working at a prop desk was a BS internship; as long as you can talk in depth about it in interviews and reflect strongly of the experience on your resume, who gives a shit about the firm name?

All in all, you have some good experience, just focus on the moving forward with it rather than looking back. Craft a good spin for moving from that internship to an IB/ER role, and if you're that concerned about brand name, look for a BB PWM in your area (though I'm not sure how highly concentrated these are in Ithaca). However, your time would probably be better spent connecting with Cornell alumni and killing your first semester there.

I'm just a lowly undergrad, but that's my .02

 

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