Is it too late to find an internship now?

I've been trying to look for internships all Spring but nothing has helped. Is there still a chance? And if so, what should I pursue? I'm a rising junior at a target with a 3.7 GPA and previous internships but none in the finance industry.

 

You have a 3.7 from a target, with previous experience (even if it isn't directly finance related, you can still spin it to make it sound relevant, unless it's something completely random - your tag says asset management, which is easy to spin) and you can't get any interviews whatsoever? Or have you gotten interviews and were unable to convert them?

To infinity... and beyond!
 

Never too late. Just do whatever you can - reach out to family friends and friends of your parents, network by cold emailing alumni, cold call boutiques, apply to everything you are interested in on Indeed / Glassdoor / etc.

I got my internship after Sophomore year around this time, just keep at it and something will work itself out.

 

forget about applying online.

your best bet is to reach out to the most senior possible at small hedge funds/ PE/ VC funds. be aggressive and show some balls - senior people love that, esp at hedge funds regardless of size. if you decide to take the hedge fund route have 2-3 detailed/ contrarian trade ideas ready. help a seed stage VC fund source a deal. do something creative and you will stand out.

 

I'm in a similar boat. I've gotten a PWM internship for this summer (also a rising junior) but it's part time so I'm looking to do something in addition to it. I've gotten mine by randomly cold emailing people and I've only gotten it a couple of weeks ago so I think it's definitely possible.

 

It's not too late, start cold calling. I was able to get an internship at a fairly decent buyside shop coming from a non target state school by hitting the pavement. It helps if you can send them materials like reports or models. I got this internship less than 3 weeks ago. Though, a caution: don't burn some bridges trying to get this internship (don't pester old contacts you can use next year).

Hit the pavement, slide resumes under doors or go to the place yourself if it's in the city (that's how I got my internship).

 

With 3.5 GPA cut off, going through traditional means of application process won't be that useful; I would say mainly focus on networking and getting some connections. Prep your interview with WSO interview guide and kill the interviews. Other than that, like silverrace said, spread your net as wide as possible including small boutiques to BB and EB.

 

Start scouring LinkedIn. Small firms will be your best bet, but try to get something relevant before the end of June. Is career services helpful at your school?

 

I'll be finishing high school in about a month and I really have no relevant work experience or volunteer experiences with finance. I really want to have a productive summer, and try to nab a pwm internship. I'm really new to cold-emailing, so what should I write about? (I live in Toronto, Canada). Thanks in advance.

 

Yes, you do not need any connection just cold email any PWM firm within reasonable distance. A quick google search should yield dozens. Just call or email the branch manager and ask if they could use an unpaid intern this summer and attach your resume.

Be warned though, all your going to be doing is cold call and administrative bullshit. Not to say you shouldn't do it, because its a good starting point on your resume, but the work sucks and its unpaid.

 
jss09:

Sorry, but both of you just need to use the search function. These topics have been discussed ad naseum on this site. Check out mergers and inquisitions and just search "unpaid PWM internship" "Cold email template" on this site and you will find plenty of info

Thanks for the advice. I'm new here so thanks for the tips.
 
Best Response

You are the tiniest bit late if only because people have already started networking since the beginning of the year. But no worries, a lot of the accelerated offers are for either diversity candidates or top candidates. On one hand, normal superdays are going to be competitive because there are less spots open but on the other hand, a lot of the top-notch candidates were put into direct competition with each other already and won't be at your potential superday. I have no hard numbers for you but there are guaranteed still open spots in each BB's summer analyst class, you're just going to have to hustle to get them. Expect banks to wrap up the recruiting cycle by end of August and have their analyst class completely filled out by late November / early December.

That being said, I would still recommend applying early because many applications are on a rolling basis and start reaching out to people as soon as possible. Establishing a network of contacts takes time and there's a lot of resources on how to best do that here and on other sites.

TLDR: It's never too late, it only gets harder the more time goes by.

 

It will not hurt to talk to them. You are a freshman, you will not be hurt by not having an internship. Make the effort, network with them and if you are unable to work something out stay in contact with them for next summer.

 

Okay so heres what I understand.

  1. It wont hurt me to network and try and get at these firms. I was udner the impression they would turn me down and then not want me in the future, this is not the case though. I guess it cant hurt to start early and if I dont get it I will just pursue it again next year.

  2. It is pretty late in the season so I shouldn't get my hopes too high.

  3. IT wont hurt me to not have an internship this summer. Worst case I just caddy and take a summer class and tey and get something at boutiqe or BB soph. year.

is this accurate, thanks for the help

 

I am talking about for MMs/ Boutiques-- all of them have the option to submit a cover letter and resume via a career information email adress, however...you are saying I should not do this and try and contact the director directly?

 
thepuh:
I am talking about for MMs/ Boutiques-- all of them have the option to submit a cover letter and resume via a career information email adress, however...you are saying I should not do this and try and contact the director directly?

yes--networking should be done with the employees who actually make the decisions in the bank. networking with hr is relatively useless. you want to get a dialogue started with the bankers, as they are the ones who ultimately will interview you and make the decision whether or not to hire you. HR really can't help at all in this instance.

 

Hi CreditMadrid, any of these discussions helpful:

  • PWM Internship- Am I too late? I was wondering who I should be trying to contact: the branch manager or someone lower? Am I too late ... I'm a freshman looking for a PWM internship in the summer at a BB bank branch in my area. ...
  • A One Stop Shop For All Things Diversity Recruiting- The Most Exhaustive List On WSO NYC (SF as well for IB) Divisions: Investment Banking, Markets, Asset & Wealth Management ... Management BA Launching Leaders Description: 2 day program with interview for 10-week sophomore summer ... Summer analyst program, scholarship of up to $10,000 Divisions: Asset Management, Equities, Fixed Income, ...
  • Is it too late for summer internship...need advice! I am a Senior at a non-target and am currently trying to find an internship with an Asset ... Management company or with a Financial Advisor. I was going to take classes over the entire summer but ... end in 3 weeks and I am trying to get an internship from this time to the beginning of the fall ...
  • Too late for a summer internship? It took me a while to figure out that I wanted to do an internship this summer instead of a study ... abroad/service oriented international trip. It has proven difficult to find an internship. I think I am qualified ... dead-ends. Is it too late? Should I make other plans? Should I just start cold-calling/emailing different ...
  • Too late for an internship??? I am a Junior in college going to be a senior next year. Is it too late to get an internship ... from studying abroad and am behind in getting an internship for the summer. trading career Stock ... interview finance Internship ...
  • Too late for a PWM summer internship? summer. Is it too late to start cold-emailing some PWM boutiques/regional offices for a part time ... I am a senior in HS interested in markets/finance and i'm looking for something to do this ... internship?? ...
  • Think it's too late for a PWM internship? ECs. Anyone have any advice on how I could manage to get a PWM internship this late? I haven't ... terms of getting an internship this summer ...
  • Is it too late to find an internship now? I've been trying to look for internships all Spring but nothing has helped. Is there still ... internships but none in the finance industry. to Sunday, May 13, 2018- 3:55am ...
  • More suggestions...

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couchy:
landed mine in june so don't worry. Though you shouldn't expect the internship to be anything amazing - in my experience boutiques hiring this late don't have as much dealflow
This. It's a double-edged sword even for unpaid interns, because these guys are more worried about paying the bills than teaching some 20-year-old kid how to model.
 
jss09:
My strategy so far has been to cold email analysts, but this has lead to limited opportunities because most do not post their emails online only MDs. Have you guys had success directly emailing MDs?

A friend of mine was able to secure an interview with a boutique by emailing an MD at the office; however, the alum happens to be an alum of our university so he certainly had an advantage there.

 
jss09:
My strategy so far has been to cold email analysts, but this has lead to limited opportunities because most do not post their emails online only MDs. Have you guys had success directly emailing MDs?
I just got my first internship through cold emailing an MD. In fact, emailing VPs, MDs, + has been my primary strategy. These boutiques/smaller MM backs, at least in my city (non Chicago midwest) the internship game is not that big, and is typically taken over by branch internships of larger companies. All of the upper level guys I emailed were very enthusiastic about speaking with me, and turned out to be huge helps.

Especially at boutiques, MDs are probably going to be at the decision making level when it comes to interns, so getting in good with them will directly help you when it comes down to it.

 
Bschoolnoob:
how do you guys find which boutiques to go after?

Google/LinkedIn.

I'd either Google "investment management firms city"

Go through Alumni on LinkedIn, check out the company website, and if it sounded like a cool place I'd shoot them an e-mail.

I'd also Google specifics like "Managing Director University of Non-Targets" or "Portfolio Manager University of Non-Targets" to see if I could get anyone who wasn't showing up on LinkedIn.

 

Keep trying, its never too late. Look for alumni from college and high school. I've learned that oftentimes, high school alum help a lot more than college alum just cause less people reach out to them.

 

It's late in the game for BB/EB and most MM shops. You should reach out to boutiques now. You don't enjoy the luxury of building relationships at the moment. Cold email firms and be direct.

 

Usage of the term 'trading' is too damn high in your passage. (But anyway...)

The math and programming are not common among all forms of trading. (Desk quants, Prop/algo trading, quant strats) => math/programming (Old school forms of trading) => sales skills, maybe some excel, etc. You should spend some time exploring the field and see which one matches your skills and liking.

 

Hey Devilzangel, I'm the WSO Monkey Bot and I'm here since nobody responded to your topic! Bummer...could just be unlucky but one of these topics will help shed some light:

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  • Is it too late for SA in BB or EB? Hi guys, we are now reaching November, I was wondering whether is it late to get a SA offer in ... still under review on the website...) Thanks summer analyst to Thursday, October 27, 2016- 12:30pm ... a BB or an EB (for London)? I applied to some BB and EB, no answer so far (and my applications are ...
  • Is it too late if you don't have any connection? banks leave me with just a month or two before the applications close for 2019 SA internship. I want to ... acquiring financial knowledge and preparing for interviews. My only hook is being proficient in 3 East Asian ... Hi monkeys, I'm an international student who recently returned to campus after serving in the ...
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  • 8 years old with no finance experience, too late to get into PE? options for next summer: Option 1 Local public sector position: I got a mail route in my neighborhood and ... be good preparation for IB. Option 2 International Tier-2 ice cream shop (think ... structure. I could probably leverage this into Tier-1 ice cream (DQ/BR) next summer and transition into ...
  • Too late for spot in 2014 analyst class? Hi everyone, I was hoping for advice. I did not get a full time IBD offer and interned at a BB in ... skillset. I did not get a full time offer this summer and am hoping there is still time to network and ... acquire a spot in the 2014 analyst class. Am I mistaken? Are there usually no openings? Thanks ...
  • Too late for a summer internship? dead-ends. Is it too late? Should I make other plans? Should I just start cold-calling/emailing different ... It took me a while to figure out that I wanted to do an internship this summer instead of a study ... abroad/service oriented international trip. It has proven difficult to find an internship. I think I am qualified ...
  • BAML 2019 SA Megathread Hey! I haven't seen a megathread for BAML 2019 SA yet, so here it is. BAML applications open ... SA recruitment 2019 recruiting 2019 summer analyst ... July 1st. Post here if you have any updates! BAML Bank of America 2019 IBD 2019 investment banking 2019 ...
  • More suggestions...

Calling relevant pros to the rescue! slamdunk Josh-May Mathieu-Pizzar

If those topics were completely useless, don't blame me, blame my programmers...

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Google "wealth management (city)" and look at the local results. Most will have a phone number. Call them. Explain to them your situation. The end.

If you have the option of talking to a branch manager definitely do that.

I didn't say it was your fault, I said I was blaming you.
 

I got my internship by contacting both advisors and branch managers. Like tryharder, the only response came from one of the companies financial advisors. It shouldn't be too hard, just keep at it.

 

PWM internship can be landed in several ways. Students that post PWM internship reviews on InternshipKing.com mostly say: (1) Call the most senior person at the brand or (2) Contact a financial advisor you know. Internships in PWM are common and not that hard to come by. Do not wait until an internship is posted as your chances will significantly decrease.

www.InternshipKing.com - 2,500+ Reviews & Salaries from former finance interns
 

If your school will give you credit for an internship and you are looking to learn more about PWM/have it on your resume (unpaid), then shoot me a msg.

My team could use an intern.

It is pretty funny to hear about the intern experience in PWM. Most teams give their interns cold calling responsibilities, which would be a huge turn off if I was a young kid looking at possible job opportunities. PWM is actually a great career path, but only if you land on a large team. $2-3MM+ in revenue.

 
bball22:
If your school will give you credit for an internship and you are looking to learn more about PWM/have it on your resume (unpaid), then shoot me a msg.

My team could use an intern.

It is pretty funny to hear about the intern experience in PWM. Most teams give their interns cold calling responsibilities, which would be a huge turn off if I was a young kid looking at possible job opportunities. PWM is actually a great career path, but only if you land on a large team. $2-3MM+ in revenue.

Truth is prospecting is a big and important part of the internship. My first internship was (unpaid) for school credit and I was lucky enough to be working with a team that had over $1.4B under management. As an intern without any licenses you are pretty much limited to prospecting, client presentations, and any type of research and analysis around the markets and portfolios.

 

I'm in the same boat as you -- zero offers. The light is fading quickly but it's not dark yet -- keep at it.

"They are all former investment bankers that were laid off in the economic collapse that Nancy Pelosi caused. They have no marketable skills, but by God they work hard."
 

Thanks guys. I'll be mass emailing a bunch of boutique career email addresses this coming week asking about internships and possibly speaking with people at the firm. My school's alumni network has nobody at these banks.

 

It will be a shot in the dark without networking this late in the game. I actually got my junior internship through a connection of my professor's. If you have a finance professor that likes you enough you could approach them about something (I am from a non-target and dedicated professors have really fought for me and a few other students). If you don't find anything related, then get a leadership position in clubs and prepare to network like crazy senior year. Corp fin really isn't that bad and gives you transferable skills. Definitely still push apps in online. You never know.

 

This year things are a little odd because banks recruited very early.. until last year you would be on normal time. One thing to keep in mind is that some schools, Penn for example, have not let banks jump the gun on recruiting, so there are still spots out there.

Also, I'm sure there are spots for much smaller places and small funds... You'd be at a place that you wouldn't want the return offer from, but nothing beats experience, which you'd get.

 

Hi pedro-martinez, hope I can help. Do any of these links cover what you're looking for:

  • London IB Summer Internship Discussion 2018 others to benefit from too. London Investment Banking Internships Summer 2018 Summer internship ... Summer Internship Applications Summer Analyst applications open now. Application deadline is 23rd ... Barclays Summer Internship Appli
  • Is it too late for SA in BB or EB? Hi guys, we are now reaching November, I was wondering whether is it late to get a SA offer in ... a BB or an EB (for London)? I applied to some BB and EB, no answer so far (and my applications are ... still under review on the website...) Thanks summer analyst to Thursday, October 27, 2016- 12:30pm ...
  • Is it too late to network for a 2019 SA internship? BBs after mid summer (I'm interning for a friend of his). Should I apply to BBs now or wait until ... summer? 2019 SA recruitment ... I have a contact who was a MD at multiple BBs. He said he would only refer me to his contacts at ...
  • How late is too late to apply to banks? I will be applying to a variety of BBs and Boutiques (full-time analyst) and was curious about ... when I should be applying. I go to a target and some friends have already sent in multiple ... applications. I was planning on sending mine in around the first week of October so I can have ample time to ...
  • Too Late to apply? Is it too late to apply to an s&t SA position in the US if you have good connections at the ... bank?i.e can u skip stages, or interview very late on? summer analyst ...
  • Is it too late if you don't have any connection? banks leave me with just a month or two before the applications close for 2019 SA internship. I want to ... Hi monkeys, I'm an international student who recently returned to campus after serving in the ... ask if there's any decent chance of breaking in without any connection? I go to a target school ...
  • Offer from MD (BB) Intern in IB- I'm 26 y.o. isn't it too late for me???? I have to wait till summer and that I will have an off-cycle internship for 3-6 months, because he waits ... Analyst- I've got a friend who's working as an Associate in BB at my age;/ Not to mention, that ... MBA from my plans. To sum up, I'm concerned what will happen after the internship. I know I will ...
  • Too late for nyc sa applications? I have been preparing to apply for a lot of NYC SA positions. However I read the NYC SA recruiting ... thread yesterday and became worried. Is it to late to apply to most firms already? ...
  • More suggestions...

If we're lucky, maybe I can guilt some users to help you out: Antoine-Mazerolle Akhil-Tandon Jameel-Kassam

Fingers crossed that one of those helps you.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Your best bet is to start using your contacts or start calling smaller Banks. I'm sure there might still be some finance internships out there but you'll have to dig deep.

 

If you have it in you, you'll tap the career services center, your alumni network, and start sending emails/calls to the MM and Boutique banks. What does your resume look like? I mean what's on it? Don't just describe it (ex: a sheet of paper with text). What have you learned through the recruiting process so far? Any weaknesses or tips you've picked up in the recruiting process?

 

It might be too late for BB formal recruiting, by networking and informal meetings and requesting to work for free if you have to can still get you an internship until may.

Be aggressive. Call AND Email. It sucks because you have to put in so much more time to get an interview than you do with on campus recruiting, but what are the other options, right? good luck

 

I know some well-known/respected (even by WSO's warped prestige standards) MM banks that have only JUST started to look at resumes, so it's not too late in the process just yet.

On a MUCH more important note, if you're just another undergrad still trying to break in, then change your fucking work status on you profile. You're NOT a current IB analyst like your profile says, so you SHOULD NOT indicate that you are (because other desperate undergrads are going to take your advice seriously).

“Millionaires don't use astrology, billionaires do”
 
Juwanna Mann:
I would try contacting middle market and boutique banking recruiters on Linkedin. Good luck.
sorry but how? Do I just search for those ppl and cold-email? I actually checked from another thread about ib in London but most of them doesn't do SA. So this means searching for their mps on linkedin and cold-message them?
 

I'm pretty sure it's too late. I know people with offers from S&T already. At my school, BB recruiting is over. Today was the superday for a few different divisions at various banks (at my target). Today was also the superday for non-target Investment Banking kids at Barclays and it was one of the late ones. Not sure if S&T recruiting is also over but I would assume it is. If you have any contacts, I would try to leverage them now because, if it's not too late, it soon will be.

 

Yeah, I am from a target school and all BBs have finished SA recruiting including conducting superdays. Also regarding post by Olman, I attended a few S&T interviews and so most BBs have finished S&T recruitment as well.

 

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