Sophomore Programs/Internships
I am currently a sophomore finance major who wants to pursue a career in investment banking. I have heard that some banks have sophomore programs and was wondering if anyone knew anything about them? Are they thing this year? When do I apply? etc.
Thanks
Yikes. You're gonna want to be a bit more ambitious than this. There's a wealth of information here but you have to be willing to look.
2018 Sophomore Summer Analyst thread: https://www.wallstreetoasis.com/forums/2018-sophomore-summer-analyst-re…
Thank you.
Sophomore BB IBD Programs (Originally Posted: 01/10/2015)
At this point, I believe diversity recruiting is over. I am wondering how many non-diversity candidates they interview, and how many eventually get offers. Does anyone who has been through the process know? Thanks in advance.
Sophomore diversity recruiting is not over yet. Most of the banks only interview an extremely small number of applicants. There are very few BB programs for sophomores that are designed to take anyone besides URMs, but some people find a way in if they can convince the right people. I will try and put things in perspective.
Getting accepted to one of these programs is statistically much more difficult than getting a summer analyst spot as a junior. Stats that I personally verify put DB at 1400 applications for their sophomore IBD program, with 10 spots available.
At Barclays, there were 1100 applicants, and only 21 were invited to interview for IBD. The one thing I cannot confirm about Barclays is the number of IBD sophomore interns they will take, but I would estimate it to be roughly low to mid single digits.
While the interviews were not technical in nature, given the small amount of slots available, and the competition you face (I think there were only 2 people not from an Ivy at the Barclays IBD interview), it is an absolute crap shoot for even the strongest of candidates.
Given that the stats are so slim for the intended target group (URM), you will probably have to be a serious snake charmer or have some seriously important connections to pull it off.
That was very helpful, thank you very much. So the takeaway is that if you have received a first-round interview, you have a decent chance of getting an offer in the end? I assume this is because they don't want to dedicate too many resources to sophomore recruiting when their focus is junior recruiting. Does all that sound about right?
Also, any comment on the JPM program - I understand they can be merit-based too, so how does non-URM fare there?
Chances of a Sophomore getting into a general summer analyst program? (Originally Posted: 11/06/2017)
Hey guys, I was wondering what the chances were of a sophomore to get into a general undergraduate analyst program?
I will answer with as much detail as you’ve given us: low.
Sophomores with a lot of AP credits can have junior status as a second-year student. If you interned at a boutique your freshman year summer, I think you will have the same chance as everybody else.
What kind of analyst program are you looking to get into and what is your background? Check out dBachieve.
Yeah I applied to that. Because I enjoy investing on the side and all things technology, I was hoping to apply to IBD/Equity Research gigs as a technology coverage (Semi Conductors or Electronics).
I'm not worried about Technicals (building/understanding financial statements, DCFs, Comps) and behaviorals could use work, but I wonder if I can at least get a summer analyst/ER associate position at a top MM or BB. If they generally don't take sophomores, I will only apply to select companies.
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sophomore program (Originally Posted: 02/02/2010)
Has anyone heard from the Citi or JPMorgan Sophomore Program?
nopeee- i heard mid feb is when they plan on getting back to people
I believe Citi already had first-round interviews for at least one of the sophomore programs
Does anyone know what the difference is between the Citi Diversity Scholars and Citi Diversity Leadership Programs?
Citi is doing first-rounds this week for the latter, superday next Friday.
do you know around how many people get the first round interview and of which, how many get into the final round?
Mid-Feb. for which one? Citi? I thought JPM already started interviewing people?
i had a first round interview for the JPM program, and i thought it went well... apparently not. got a call that i didnt get past the 1st round. I'm from a nontarget school, and I heard they take a really small amount of people
if u havent heard yet for jpm or citi-does it mean a rejection?
For Citi, if you haven't heard from the sophomore diversity leadership program, then you've been rejected as first round interviews were this week. Haven't heard anything about the other program.
Anyone hear back from Citi for second rounds yet..?
I didn't, but I believe we will hear back on the 8th.
Has anyone been outright rejected for JPM first rounds? I haven't heard a single thing back from them since I submitted... Anyone at a target get a response yet?
Has anyone gotten a call from Citi yet? I haven't heard from them, which I'm guessing means rejection...
aquamarinee -- I'm at a target and all the people who were not selected for an on-campus interview were notified of rejections about 2-3 weeks ago.
if jpm still hasnt reached out to you, rejection?
yeah you're rejected. sorry bud.
is the diversity program for citi only for minorities or can any ethncity apply?
I got a first round interview and was placed on "on hold", the superday is this friday. didn't hear from them, rejection?
Sophomore Internships 2017 Programs (Originally Posted: 09/19/2016)
Does anyone know what BBs and EBs are offering NON-URM 2017 SA IB programs for sophomores? On top of that, does anyone know the deadlines for each program?
Most of the programs are posted on the company's website. Don't be afraid to put some work in yourself.
I'm just scared I missed JPM's deadline.
has anyone received a response from applying?
Sophmore Programs (Originally Posted: 08/15/2007)
Has anyone done one of these at Goldman or Morgan? Elsewhere? How do these programs differ from the typical summer analyst jobs? I know they are "rotational"; however, does one end up staying in a certain area the majority of the time? Also, what credintials are necessary to get in? What do typical candidates look like in terms of stats?
Some of these questions have already been aswered in other topics. Lehman has one too, though I've also known Sophomores to get into Lehman's START and IBD programs which are typically geared toward Juniors.
For mine the job was pretty much the same as juniors. In the end your offer is for the next summer.
Candidates are all solid. There's no "typical" candidate.
you wouldnt get in anyway, just find a PWN
Type of candidates? Cream of the crop
Morgan Stanley takes 10 for its IBD rotational program.
Lehman Brothers takes approximately 20.
You are are a summer analyst, so your work is the same as junior analysts. You just may be in a specific group or division for a shorter period of time.
Type of candidates? black or mexican.
Definitely not true
I can back up KillerMike with respect to Lehman's program.
JPM's Honors program is predominantly for "diversity" candidates.
Citi's isn't. Goldman's isn't too, but importantly, this year, close to 90% of recruits were from Harvard which I think is the most disgusting thing I've ever heard. I mean, it is okay to recruit from Ivy League schools but at least diversify your sample size a bit. Jeez!
From what I've observed about sophomore programs, the candidates are top-notch, super smart and sometimes even more polished and yes, knowledgeable than their junior counterparts. They tend to have a higher return offer rate than the general junior pool, (think 90-95%) but I'm not sure if it is a function of their being smarter or a function of the assessment standards being lowered for them.
When interviewing for sophomore programs, your most important skill sets I would say should be confidence, a sense of humor and a strong ability to sell yourself at the interview level. To get interviews, you either need an incredibly high gpa (but note, this does not guarantee you an offer- you need to couple this with confidence, humor and a sales-man attitude at the interview level) or an okay g.p.a and stupendously incredible leadership experience.
That being said, I'll say good luck to you. Sometimes, luck plays a huge factor as I have seen a lot of 3.9ers from M.I.T with maybe not great, but okay interpersonal skills not get into a lot of these programs.
At the end of the day, arm yourself with high energy, great interpersonal skills and a polished demeanor. Should help you stand out from the rest of the childish looking sophs and froshs.
are all of these sophomore programs in NYC or are there any in Chicago?
NYC
NYC
Anyone have any experience with the BofA sophomore program? I had heard there was one but couldn't find much information on the website.
Anyone have any experience with the BofA sophomore program? I had heard there was one but couldn't find much information on the website.
A lot of the programs are not listed on the site itself; however, if you enter the application, you are given the option to apply for them.
yeah, like citi's
anyone need prep help, pm me. I got into a couple this spring
Just do it through campus recruiting, pretty sure they all had separate listings on there.
btw goldman's program is a diversity one but still super competitive to get in..
It's pretty damn tough to get into these Sophomore Programs. I got a call from JP Morgan about their Honors program in February for this summer. I'm not at a target, but have a 3.8 gpa.
I didn't get another interview and I think I just got the call in the first place because the HR girl was from the same hometown as me and probably felt bored and realized what a coincidence lets call this kid for fun so we add something interesting to our day.
nearly all of these programs are diversity-focused. When my Lehman rejection came, for instance, it was sent from the diversity recruiting office. The only one I know that wasn't solely diversity-focused was BofA's. Yet, there was a diversity component to their program also. Everyone has to fill quotas nowadays...which in itself is a topic worth discussing.
The people who get these positions are definitely not necessarily top-of-the-class. I go to a premier school (think Harvard, Wharton, Princeton) and many of those who got offers had connections. Surely, the kids were bright but there were much brighter students that got rejected. On the same token, some very bright kids also did get offers. However, it is very naive to think that these programs are purely meritocratic.
And my experience is completely different from that. None of the sophomores were underrepresented minorities for my program.
that's kinda interesting. Guess I may have generalized a little too much, but I still think diversity plays a large role in these programs.
I think that totally depends on the bank
If I may ask, KillerMike, where do you go to school? Maybe I'm digging into this too deeply, but perhaps it also depends on the University.
Sent you a pm
FYI Citi doesn't do this diversity shit. granted everyone has to fill quotas but looking at the Sophomore Rotational Program resume book, i think Citi had like 5 colored kids out of 30. so there you go and they were pretty talented enough to be there.
GS. is a minority program but lots of ivy league minorities filled it up
Lehman is supposed to be a diversity program but looking at the resume book, you wouldn't think its a diversity with the number of non colored people
JPM is definitely a diversity program with just african americans and latinos
MS is a diversity thing but i haven't seen their resume book yet but i'll keep you guys updated
any other banks worth mentioning, isn't bofa just for tellers only :)
Not specifying where I work, but some of the sophomore's GPA's are low. I don't mean 3.7 low. I'm talking 3.25. No joke.
Not sure how they do it. I could have never gone to class and recieved better marks than that.
Mower could you post a link of the resume books if in fact they are online?
resume books aren't online..coworkers in other banks handed them over..
its so crazy how quickly and easy resume books fly around..i prob have about 13 in my posession
sophomore programs worth it? (Originally Posted: 08/16/2008)
Hi, I'm going to be a sophomore this year and I'm considering applying for sophomore summer programs. I'm just not sure it's worth it though, since I've heard you can be hired for junior SA jobs without related experience. I go to an ivy, not a huge target or anything, and I have a good gpa.
Assuming I can keep up a high gpa, will having the sophomore program experience help a lot or will they just be harder on me in the interview process for junior summer positions?
Will having a BB sophomore program experience be helpful? Seriously? Is this a serious question?
Short answer: Yes. Incredibly helpful.
haha sorry...i just tend to freeze up and freak out during interviews and the added pressure of technical questions for junior sa spots is a little intimidating. thanks though
Lol no problem.
Think of it this way if you somehow get an Sophomore BB SA offer and perform well you will get an offer for your Junior Year, and you can avoid interviewing with other banks.
That is what I did. PM me if you have any questions.
Yes it's very helpful. Plus not having to interview junior year is a pretty awesome thing
Yes. If you have a sophomore program on your resume at a BB or very good boutique, you will likely have a free shot at interviews even if your GPA crashed to 3.1.
Additionally, you "can" be hired without related experience. This also implies that you also could NOT be hired without related experience. In this kind of hiring environment, play your cards safe when it comes to qualifications. Obviously it tends to differ a bit by school, but candidates with work experience and lower GPA's (even if it's just a random boutique or hedge fund) often have a leg up on getting interview slots over people with better GPA's, unless the GPA in question is an exceptional one (3.8+). Ever little difference matters when there are ~800 resume drops and 30 interview slots.
What type of firms are you targeting for your Sophomore internship search?
I was in the placed desk program at GS as a sophomore and I can say with confidence that it was THE greatest learning experience I have ever had in my life. I do not think this can be said for the rotational programs (I think a lot of time gets wasted on networking and trying to get offers, both of which are far less important for sophomores), but any experience is better than none. I had a wonderful time and cannot convey the value of the knowledge I gained.
placed desk program?
Pretty self explanatory: You are placed on a desk from the start of the summer and sit with that desk for the full summer. Consequently, you work many more hours and have much more responsibility and in my opinion learn much more.
how did you get placed on a desk after sophomore? I read on the GS website that they recruit a few sophomores from their Spring Break program - is that how you got placed?
No. I was interviewing with another division for a different SA role and was then asked to interview with one of the securities division's desks.
"sophomore programs worth it?"
Not if it means they can figure out they don't like you earlier.
Sophomore IBD Programs (Originally Posted: 08/18/2012)
Does anybody know the answers to these questions?
-When and where can people find applications? I don't see any online. I'm doing PWM for MS, and I still cant find anything internally or on the public website. -is it even possible for a non-target, non-minority? -can you network your way into these? if so, do you just need to talk to analysts or other higher-ups too? -Is this better than doing an IB internship sophomore year at a boutique bank if you assume that the amount of responsibility you are given is comparable
If anyone knows the answers to these questions it'd be much appreciated by me, and probably other rising sophomores too. thanks in advance
I would say that with boutique, you will usually have more responsibility than at a BB, especially as a sophomore. Also, if you do both boutique and BB, you get the feel for both, and a lot of times, one clicks while the other is significantly less appealing.
All the BBs hire sophomores (well, they did last year, but who knows what'll get cut this year)....google it, it's really not hard to find basic info on them. It seems to be a lot less formal/standardized than junior recruiting, though it seems to hold that if you're not at a target where they come to recruit, just an online app isn't going to do much for you.
The firms that have freshmen days/events (MS, GS, CS, JPM, and Barclays) use those as starting points for their applicant pools. Most focus on diversity at targets...if you're not at a target and/or not diversity then it's probably going to be a lot tougher, but since you're already at MS you can just contact one of the IBD recruiters and see what they have to say.
I've been told that at this stage it's as much about the name as the experience, so I wouldn't reason your way out of a BB program for a boutique on the basis of better deal exposure.
The thing is im not in a NY location, I'm in MD, and no one in this smaller branch knows IB analysts in NY. They know lots of traders and research guys, but not IB.
Have you heard of anyone getting in who is a non target and a non minority?
How would this be possible/where would one apply? I cant see a location on the website-clicking the sophomore links takes me to a broader location
The sophomores I know who have gotten IBD internships in the past got them through networking. Reach out to some people and hopefully you'll make a good connection who'll pull for you. You probably won't see many official postings for sophomore IBD internships, as they're mostly rotational programs; after all, the point of the internship for the banks is to have ten weeks to evaluate who to potentially give offers to, and it doesn't really make sense then to have sophomores. That being said, it's definitely possible if you have someone pulling for you.
Best Sophomore Program? (Originally Posted: 02/25/2008)
I was wondering how the major sophomore programs would rank (Leh, Citi, ML, JPM, MS)
...would rank at the top of the list.
Seriously, if you have more than one offer for those programs, then just pick one.
Sophomore Summer Programs - Rising sophmore and just started looking at programs for next summer (Originally Posted: 08/04/2010)
Hey Everybody, I am a rising Sophomore and just started looking at programs for next summer. After doing a couple of searches, I head about the UBS, MS, GS programs and how compettitive they are. I was wondering if someone can give me their input on how to find these programs, how valuable they are for you, and if not what else to look to do during sophomore summer.
Thanks for you help
I wasn't fortunate enough to participate (I didn't even apply), but I actually like the look of JPM's program the best.
Most of them are directed at underprivledged/minorities
Bump. Anybody?
Sounds like you could use a resource that has this kind of information categorized and compiled. When I was looking for an internship I found that Vault was a great place to turn for info and job opportunities. It's an online career building service with tons of connections to companies currently offering internships... and a lot of their information is free, so it can't hurt to check out the latest news in internships.
We have a few interns that are sophomores and I know a couple at top hedge funds. I think at that level it's all about networking because none of them are minorities. I am sure there are programs that focus on minorities, but most soph interns are probably not in a formal program. Some of the resumes I've seen have listed country club caddies as one of their activities and lackluster GPA and schools. So there's a hint.
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