What should you do right before your Summer IB Internship?
As summer comes closer, I was wondering what I should do right before an intern's summer IB internship. I'm working at a MM IB (think Piper, Baird, Cantor, etc.). They don't have a recruiting process like BB's so although it is structured, and I did receive my offer, I didn't sign anything yet. They did tell me an estimate of how much I will get paid and when I will start working, but I was wondering how I should make means to reconnect with HR or my key contact at the firm?
they will probably contact you soon for references and background check. Or you could be pro-active and ask the HR what documents should you prepare in advance for this.
What to do prior to summer analyst stint (Originally Posted: 06/23/2010)
What do you do during fresh and soph year of college to prepare for summer analyst position as rising senior? I know you could join investing clubs, but what else?
I wouldn't wait until your senior year to do an internship. Start interning ASAP to build your network and resume.
Or do something unique such as studying abroad. I didn't do any internships before junior year and had success with BB SA interviews cuz I had a lot to talk about.
Have a month off before my internship starts. What should I do? (Originally Posted: 04/30/2014)
Have a month off before my internship starts. What should I do?
Really open to anything.
if you expect people to know what your internship is magically, or go through your old posts, you're mistaken. context will go a long way.
Play hop-scotch, nurture baby sloths, try to bag a slam pig. Report back with results
Work out extra hard to make up for the pounds you're going to gain
You should probably do the "optional" pre work training. A surprising amount of my friends are just ignoring it and I feel like it'll somehow end up biting you in the ass
How much money do you want to spend?
Go backpacking to South East Asia countries.
What should I be doing before BB IBD SA? (Originally Posted: 02/28/2015)
I will be working at a BB as a summer analyst and was wondering what I should be doing, if anything, in the interim. I have already been placed into a group. With the goal of converting to FT, should I be trying to network with people in my group? Or just take it easy while I still can? Any insight would be fantastic! Thanks!
If you're not trying to trade up in terms of firms/groups, honestly, I'd chill and try to enjoy your time before your SA stint. Make sure you go into it rested. So my associate told me when I asked him before my summer, and he was right.
I am interning at BB this summer myself. What I would suggest is to be really up to date with the industry news and deals going on atm, maybe even dig deeper and find deals that your group is working on and research on those companies (you will be staffed on one of the deals after all). Maybe a reminder of technicals and modelling would help. Depends on your level of expertise. I wouldn't sweat it too much tbh. You will probably be briefed on the important stuff on day 1 anyway. Would be interested to hear from someone who actually went thru this and has some advice with hindsight.
I agree that it's helpful to be up to date on the industry - always great to show enthusiasm and go beyond what's expected. In terms of networking, I don't think that's necessary after you've been placed in a group, you don't wanna be a nuisance either. You'll most likely get a buddy or mentor or something in your team to ask all your questions before you start anyways.
I don't think excel/powerpoint skills are a key determinant in whether or not you will get an offer. People assume you start at 0. For your own benefit though, if you haven't had banking internships previously, I would try to get up to speed on especially powerpoint, but also excel. You could take one of those online courses like BIWS, maybe someone who's tried it can recommend anything. The biggest reason why I think you should take one of these is that you're gonna learn much more and be trusted with more important and interesting stuff if you have these skills down and can work quickly and efficiently in powerpoint. If you don't make good slides you won't be asked to do important stuff because people will have to edit your work anyways and your summer will be much more boring. You likely won't get to do much modelling except for maybe entering some numbers in to a template, so creating graphs and formatting etc. is probably what you should be mostly concerned about in excel. Knowing how to scrub comps is not a bad idea either.
I didn't network with my group much before starting SA, but getting on the phone with one or two analysts couldn't hurt.
Unless you are going into a very specialized group (For example, a restructuring group) nobody will expect you to know much about the space, but following the news for that industry or product is a wise idea.
The excel/PowerPoint skills are what would be best to iron out. Even if the expectations are low, it is nice to be able to focus on the qualitative aspects of the deal and not be bogged down in excel and PPT. That said, I had terrible skills in this area and still did OK. But you'll make it easier on yourself if you spend some time on this.
Get your logistics sorted out as much as possible. Presumably you are living somewhere else during the internship? Find an apartment and a roommate if you're getting one. Figure out transportation. Do your tax return. Register for next semester's classes. Find a doctor. Find a gym. Get your bills on automatic payment if they aren't already. Withdraw $100 in quarters for laundry and parking. Do everything you can to make sure you can focus 100% on work during the internship.
This
Have to second this as well. Nothing is more miserable than running around a city, in the heat, stressing about training dealing with pointless minutiae
Have to second this as well. Nothing is more miserable than running around a city, in the heat, stressing about training dealing with pointless minutiae
I'd say don't stress about it... obviously keep up with the markets, etc., if you're interested in that, but I don't think there is anything specific you need to know prior to your summer. You will get plenty of opportunities during your summer stint to show your group what they want to see in order to extend you a FT offer. The bar to get a FT offer is quite low once you've received a summer offer... it's really yours to lose.
Keep up to date on basic finance news and relax bud. Congrats on the offer - you'll learn all you need to know on the job. Get everything in order prior to the start date so you can focus on work 100%.
Take it easy for now. You got the job, so you must have at least a base level of competence. You'll learn everything you need to know on the job.
Once you get in there though, bust your ass. A strong work ethic is the most important key to success in this business or any other, period.
I’m with the “chill out” crowd. Just enjoy your time now that you have yourself set for the summer.
I finished by BB IBD SA internship this past summer; did reasonably well and will be returning full-time. While your performance on the internship is mainly based on your work ethics and general "smarts" (e.g. attention to details, being an effective communicator, having common sense), one thing I regret not doing before my internship was becoming more proficient with the technical content. It's important to familiarize yourself to topics such as accounting, valuation (comps and DCF) & capital structure of companies. That's something I struggled w/ during my internship, leading to late nights at office, trying to learn the content first before doing the work. Also, if you want to, you can familiarize yourself w/ Excel shortcuts and Powerpoint on PC. Good luck and congrats again on the offer.
Lemme know if you have any additional questions!
If I were you, I'd be networking at the local country club to find your new doubles partner for when you retire. Can never be too proactive nowadays.
This. You don't want to end up playing second tier mixed doubles. Especially once you get past the 41-47 Age Group (Silver Class as we call it). The new cart girl on the golf course won't even give me the time of day because she knows I'm not top ladder. Think about your future, kid.
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