IB Summer Analyst Gig Before Masters Program?
What's the consensus on how banks feel about kids who are currently in limbo (graduated college, about to attending a masters in finance in fall) and their bid for a summer analyst position before going back to school?
My situation is that I recently graduated from a semi-target school, am currently working a non-finance job with a university and will be attending a target masters program this coming fall. I want to do IB after I graduate from this masters program and I was hoping to get a summer internship with an IB before I start attending the program. I will be interviewing for a few summer analyst positions at IBs over the next couple of weeks and I was wondering how they will treat my situation?
Will they be skeptical of hiring someone who isn't currently in school but who will be attending school in the fall and graduating from that school in time to start working FT the next summer?
Employers generally don't care. For them you are still "junior"
I've talked with bankers from Moelis, Harris, BoA, Citi, and they said Master's is not an issue.
wait are you saying that if I do a 5-year combined Bachelors+Masters program and I apply first semester in my 4th year, then I am considered a junior and eligible for Summer positions?
What about if I get an FT offer at the end of the summer internship, and then say, nah i really dont want to do my masters anymore, is the offer still valid?
I think that the deal is:
it doesn't matter what your "year" is in college. If you will be graduating at least one semester after the end of the summer, you are eligible for a summer internship.
so, say you are on the 5 year plan: you are eligible for a summer internship the summer before your 5th year. say you are in between undergrad and a 1 year masters: you are eligible for a summer internship before you start the masters.
qweretyq,
Your offer can be pulled at any point for any reason or no reason at all. If you got an offer under the assumption that you would be completing a Master's program the following year, you really should talk to the bank before deciding to withdraw.
My old bank once hired a guy under the condition that he completed accounting courses prior to starting. We were afraid that his lack of accounting skills would make him unsuccessful as he wasn't not able to make training with the rest of the analyst class. If he had withdrawn from the accounting classes without letting us know, we certainly would have had a word with him.
Wow, this is good news. Thanks guys
Summer Internship possible for a Master's student (Originally Posted: 10/27/2015)
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--- Only relates to EMEA - not sure how it works overseas... --- Its possible - some banks (e.g. BAML) enable you in their application tool to simply tick a box "intend to apply for master's degree", some don't but then I simply included it in my CV and they were fine with it as long as you graduate soon and are eligible for FT employment the year after the internship. "Worst" case I experienced so far was that I just got a call from HR where they asked me about the details of the program's timing - ended up getting invited for interviews as well. Hope that helps
Pre-MSF Internship (Originally Posted: 03/05/2014)
so I recently got into a good MSF program but I'm still a lil thin on finance experience. I have 6 months at a trading arcade and I wanna position myself to get into IBD/ER/AM when I get outta MSF school. Its a CFA partner school with an average GMAT of 690 (I was nowhere near but whatevs). I went to a non-target UG and had a non-target major. What kind of internships should I shoot for before summer session and how should I approach this? Do I have an edge over UGs? Do I have a shot at BB/PE internships?
tagged as I'm interested as well
I would target local firms or boutiques. I did a couple unpaid internships while doing my masters and it helps. Companies are usually receptive towards a grad student offering to help. Just shoot an email to anyone VP and above mentioning the prospect of an unpaid internship.
Summer Internship before MSF (Originally Posted: 10/27/2013)
Hi WSO,
I just got accepted into a top ranked MSF programme at a target European university. I am pretty happy about this, but I realize that a masters degree alone isn't going to place me in solid shape for recruiting once I graduate. Thus I'd like to intern in the next summer before the programme begins.
The issues with this plan are as follows:
1) How would I go about applying for internships in summer 2014? I'll be a Senior applying for positions usually filled by Junior year students right ? How would I let recruiters know that I'm going for a MSF programme after my undergrad (assuming that no one reads cover letters) so that I would even be considered for an internship at larger firms?
2) How do I leverage the brand name of the target university? My current university isn't really a target (not for front office anyways) and I know dropping my MSF university's name will open a lot of doors. However, I obviously can't put it on my resume at the moment, so I'm not sure how else to make it catch someone's eye.
My Background (for reference):
BS in Economics GPA: 3.7 / 4.0 GMAT: 750
Work Exp:
Junior Summer: Boutique IB - M&A and Private placement deals Part-time (Junior year): Small AM Fund - Research Sophomore Summer: Boutique advisory firm
I'd really appreciate any advice from anyone regarding the above issues, and any other views regarding recruiting out of MSF programmes in general.
I think you can still put it on your resume, maybe like "expected starting date"..or something of that nature..to show your future plans and that you gained acceptance. I'm not sure - I've seen some people do it for schools they are about to transfer to. Hopefully someone more experienced with that will chime in. Best of luck.
You need to network. HR probably isn't the best way to go about this since it's a bit of an uncommon situation. If you connect with bankers in regards to their firm's summer program, they're going to pull for you. Once you have a connection, it's pretty easy to explain that you have one year of school left but it will be a Master's program. Done properly, this is actually advantageous to your candidacy since they're getting someone with more internship experience.
Convince them that you're more qualified, just as eager, and more mature than your peers applying in their penultimate undergrad year. For more on this, go through my recent posts for any topic on delaying graduation. I've commented on several of these recently and the message is alway similar. The trick is in how you portray it.
summer analyst stint before a one year masters program (Originally Posted: 11/13/2008)
Is it common to see people do a sa stint prior to moving on to a masters program? A friend just got into the lse's fin and econ program, and I'm curious to see if he's eligible for an internship. Sweet, thanks.
Yes, he's eligible and is highly encouraged to apply.
Applying for SA before starting MSFE - Applied to all the banks (Originally Posted: 11/08/2011)
I’m aiming to work in S&T in HK, and have applied to all the banks there for FT, but most aren't hiring much if at all this year. Now I'm looking at applying to 1-year MSFE (Financial Engineering) programs and also applying for SA for 2012. However, one of the programs I'm most interested in requires that all accepted students start in July, so I wouldn’t be able to do an SA. This led me to thinking, assuming I am accepted, would I still be able to apply for SA positions for HK and then not enroll if I get an offer? I'm assuming this is obviously a big no, but just wanted to know if anyone happens to know any exceptions to this.
You wouldn't be the first person to drop out of an education commitment because of a job offer. If you don't pull out in time you may be liable for some course fees but if you can take that hit, this is a sensible approach.
Applying to SA position before MSF acceptance? (Originally Posted: 09/26/2012)
I'm a senior looking to potentially do an MSF after graduation. The goal would be to get into a good MM/BB bank thus it would make the most sense to recruit for SA this coming January. However, I havent taken the GMAT yet and probably wouldn't do so until November or so. Thus I'd be looking at applying probably to round 2 at most places such as Duke, Vanderbilt, etc which could be after resume drop deadlines.
Will it be a problem applying for SA positions without having admission to the MSF?
It probably just extend you UG graduation date on your resume. As long as you are still in school I don't think it will be an issue. Although it will be up to the HR and hiring managers if they will take a senior as an SA.
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