Starting process in freshman year
Hello,
I am a freshman at a top public ivy (one of UNC, UMich, UVA). Since about junior year in high school, I have been very focused on finance, specifically in NYC. At first I thought I wanted to pursue it on the legal side, but I've decided to go after the direct IB FO side, hopefully eventually moving into buyside (which seems to be everyone on WS plan). I have a guaranteed admission to my school's business school after sophomore year, so don't have to worry about that. Have all As right now, hope to maintain a 3.7+ through my 4 years, but that will ultimately be up to my own work ethic, which I really am determined to keep strong.
Down to the core of my post, I want to start this year getting ready for IB. I don't mean to make it the center of my college career, but I don't want to be one of those kids who sobers up 2nd semester junior year and goes "hey, maybe IB would be cool." I've been scouting around Charlotte for some internships at Wells or BAML (no luck at the boutiques yet) and they seem to have some summer programs for freshman, but I want to start in NYC, which is my end goal. How would I go about trying to get a role, presumably at a boutique/MM/BB (super unlikely with no connections, I presume) for this summer or anything really? I'm a URM, and I know there are URM programs, but they don't seem to become available until sophomore/junior year. Would love some info on this.
Additionally, books to read? I've read The Economist's Guide to Financial Markets and Investment Banking Explained by Fleuriet. I'd love to try and learn as much as I can, especially since I won't be able to take formal business classes until junior year.
I'd love any insight into this topic. Thank you everyone.
bump
Maintain high GPA, Do something unique, Gun for internships Sophomore and Junior year, and you'll be fine. It's a better idea for you to do some cool internship abroad your freshman year than slave away as a coffee boy at some no-name boutique.
Also, if there's one piece of advice I can give you, it's to get used to rejections. It's a numbers game, and it just takes one yes to win.
Haha. You might as well have said that you're at UNC given that the next paragraph is about Charlotte.
Your first goal should be to keep the GPA as close to a 4.0 as possible Try to email some local boutiques. There are plenty in Charlotte. Just mention that you're a freshman looking for some experience. If that does not work out, PWM or anything finance related is fine. Start networking. All those schools that you listed have very large alumni networks.
Haha, called out. Yeah, I go to UNC. I've already been keeping an eye out for recruiting events at KF and such to try and get some networking opps. I've also been in discussion with a few UNC alums, one of whom is at at a very prestigious PE firm.
Do you think UNC is a caliber of a school that everyone or almost everyone gunning for NYC IB gets it? I feel like from being here most people interested in finance plan to stay in Charlotte or go to Atlanta, so the competition isn't as fierce as maybe UMich or UVA.
My end goal is honestly just to be working IB in NYC, be it BB, MM, Boutique or some small shop. I plan to do whatever I can to get there.
I know plenty of people who went to UNC. If you work hard, you will get an IB job. UNC is one of the top state schools and has an extremely loyal alumni network/
bump. Any other opinions or any UNC alums want to chime in?
From looking at KF's MBA recruiting record for this past year, Barclays NYC IB hires a ton of kids.
There are a number of frosh programs for diverse candidates.
Most are externships (come visit the office for 3 or 5 days), but Morgan Stanley offers a traditional summer analyst program for freshmen called Bridging the Gap. Your career services office will need to get the documents for you since they don't advertise it publicly. It's pretty limited (10-12 kids) and its rare for it to be a front-office position, but it gives you a paid program, the brand name right away, and internal mobility interviews for the next summer (meaningful, given that MS also has one of the rare dedicated sophomore IBD programs).
In terms of externships, CS has the BA Explorer program, Goldman has their Undergraduate Insights Camp (the name keeps changing, just troll across the site to find whatever they call it this year), Barclays has the Investment Banking Workshop, and UBS has the Freshman Forum + the Sophomore Symposium.
For your later years, JPM has the Launching Leaders program, Barclays has the Generation Next Scholarship, Morgan Stanley has the Sophomore Rotational IBD program + the Richard B. Fisher Scholarship, Citi had or has the Diversity Leadership Scholarship, BAML has a sophomore program with a soft emphasis on diversity, and Goldman has the Scholarship for Excellence.
UNC is a well-known school with a large alumni base. Start developing relationships now. Go through the alumni database and LinkedIn, make a Google spreadsheet of everyone you find, and start messaging people to build relationships. Over three years (by this time senior year) you can have accrued dozens of healthy relationships across all the bulge bracket and 'elite boutique' banks. It will be of massive value for recruiting as you pursue the programs above and want to switch between firms for internships. It'll also be very valuable as you enter buy-side recruiting.
You seem to be approaching it with the right mindset. Keep your grades sky-high (seriously, "leadership" roles on campus don't compensate for a 3.9; a 3.9 will get a lot of first-rounds during OCR with no networking; it will also help you avoid the stigma of diversity recruiting if your profile is competitive to begin with), get internship experience early (sounds like you're on track for this), work like hell to get into one of the sophomore IBD programs (if you do, you'll have a massive leg up for interviews at any firm you want as a junior), and stay humble.
Good luck.
Hey, thank you so much for all of this info!
I guess this is sort of irrelevant, but I opted to go to UNC over Stern and Michigan (not preferred at Ross) due to the amount of debt I would have to go into to go to both schools. I would likely be coming out with about $80k-100k in debt after my 4 years are over at either school. I know both schools are much better for recruiting, but did I make a mistake not taking on the debt to get to a better position? I guess I'm just really worried I will end up living in the South after my 4 years, even if I try my hardest. While I love UNC, I really can't imagine myself living here after college.
You are getting enough of a headstart on the process that you should be fine. I know people from UNC at GS, MS, JPM alone, all of whom got in through the junior summer analyst program (without a hook like diversity recruiting). The fact that I've just equipped you with all these things to make your resume chock-full before you even get to junior year ought to mean you can coast in as well.
UNC and Michigan are roughly comparable. Ross gets a lot of love (even put at least one kid at BX basically every year) but UNC is not far behind when it comes to the BBs. Stern has a leg up for sure, but the probability-weighted odds of getting where you want to be (NYC BB IBD) from UNC vs. from Stern with a six-figure price tag lean heavily in favor of UNC for sure. Besides, you'll have a way better college experience. You can only do college once; you'll get to see first-hand the best basketball rivalry on earth, real Greeklife, Southern girls, and everything else that a campus offers. I would not for an instant be second-guessing that decision.
I'm a junior in Canada atm. 1 tip: get a 3.9+
Not 3.7, 3.75, 3.8, 3.85... get a 3.9+
I have a 3.83 from an OK school in Canada but not target for finance. Let me tell you, you will save hundreds of hours filling up excel spreadsheets and trying to get in touch with people if you just. get. a. 3.9+
If you have a 3.9+ you will automatically get every on-campus first round and anyone you reach out to at a BB or EB will give you a first round on the phone. You don't even need to ask for a coffee chat tbh (albeit you're real early so you could). I've been through pretty much every piece of advice on this forum, multiple guides, and at the end of the day I've had the same amount of success from just asking about recruiting timeline thorugh email and asking to chat (in terms of first rounds). GPA matters sooooo much when its all said and done. TBH you don't even need extra-curriculars so as far as that's concerned do something you enjoy (no one gives two shits if you were the president of the finance club). EC's are for story telling and showing that you're not a socially inept fuckboiGPA GPA GPA don't ever let any GPA self-concious bankers tell you otherwise. Again GPA GPA GPA
Once you're at the superday, now its a numbers game. You either vibe with the senior bankers or you don't. Not much you can do about that. Hope that helps.
Hell no UNC is not good enough. What do you even mean by public ivy? And no UNC is not a caliber school to place into NY...nobody really respect people from Chapel Hill. Those alum you have on wall street are not happy with their jobs because they squeeze through recruiting thinking they are hot shit, however, in reality they are just another grunt with no support system like other schools have in place. Might as well transfer to UMich or UVA
You sound incredibly bitter.
The trolling skills are strong in this one
Molestiae consequatur veniam dolores qui. Reiciendis id id vitae molestiae in numquam similique. Et illo non libero quasi eos.
Debitis dicta totam aliquid saepe pariatur voluptatem mollitia. Eius temporibus illo iure tempora et expedita nesciunt. Expedita suscipit impedit tempora dolorem necessitatibus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...