Internship Postings Up, Apply Now?

Hey guys, so a bunch of investment banks have posted their summer analyst positions on my school's on campus recruiting site. The resume drops are open from now until the scheduled interviews (late October and early November). Is there any benefit to applying now (is there an earlier interview process?) or would it not matter, as resumes will be reviewed right before interviews regardless?

 

what a silly silly redundant question. just do it asap. you silly boy

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
 

Depends on whether you are in LDN or NYC. The London offices seem to be faster in filling up the SA seats. GS has already given offers to their 2011 spring class for 2012 summer internships. And last year JPM and CS began giving offers in September. This was both for IBD and S&T. On the other hand, I've heard of people who were interviewed by BB's for summer positions as late as April.

 

similar question..i studied abroad and my grades aren't on the transcript yet (and it's gonna take a while until my school's abroad office will put them on there), but i know what i got in all of my classes. my gpa significantly improved with my abroad grades..is it okay to put something like

GPA (without semester abroad): 3.5 GPA (including semester abroad): 3.7

on my resume?

 

It really isn't a question about when you should be starting to apply. What you need to be doing now and for the next couple months (as most SA deadlines are mid-january) is network. Contact alumni at the major banks and start talking about "summer opportunities".

Clearly, as a sophomore, you are in a tough position. You (as anyone does really) need help from the inside, so reaching out to alumni at any level within the bank can be beneficial.

If you are a minority, I believe JP Morgan has a program of which you can apply to. Definitely see what banks have sophomore programs and which don't.

Another idea is to look at asset management companies in your area and see if they hire interns for their trading desk or with their portfolio managers. You want ANY experience related to trading/finance that you can get.

Good luck.

 

Some internships remain open until the positions are filled.

If you get in early, you may be competing for all the spots, but if you get in late, there may only be one spot left to fill, it depends how HR do their recruiting. All HR systems are different.

I would suggest getting it in early if you can. If anything, it gives certainty to the planning of interviews because if selection is done in a tiered system, you will be in the first round of offers, and also can ask HR to keep you in mind for other positions that may be offered.

 

Check the thread that just got posted today - has a list of boutiques on the west coast that are strong and yes they do recruit summer interns. I would suggest applying now, since spots do fill up, and applying in april will put you at risk of not finding a job at all.

 

thanks monkeynumber7....that's a very good list. Also, I was wondering if you guys knew if its okay to continue to apply for a summer intern position at boutiques if you signed for a oct start date at another firm. I have a four month break after school and plan to travel for only one so i have time for an summer position.

 

Interested in hearing this as well. Currently have a 4.0 but it will likely drop to a 3.9 after this semester.

"My dear, descended from the apes! Let us hope it is not true, but if it is, let us pray that it will not become generally known."
 

Really no one gives a crap about the difference between 3.53 and 3.59 or 3.9 and 4.0. You should just go ahead and apply now because it doesn't hurt, but the GPA difference likely wouldn't play a factor one way or the other.

 

There's just something about a 4.0 though that seems to make a difference. I agree that there's not a big difference between a 3.55 or 3.65 but it I think there might be between a 3.9 and 4.0 Don't mean to sound cocky just being honest haha. Though some might actually see a 4.0 as a negative I suppose.

"My dear, descended from the apes! Let us hope it is not true, but if it is, let us pray that it will not become generally known."
 

If they aren't comming to your school.. there's a good chance they aren't hiring from your school. You mayu have to go an alternate route..

Where are you studying?

-------------- Either you sling crack rock or you got a wicked jump shot
 

University of Illinois. I'm studying Electrical Engineering (#4 school in the nation) and Accounting (#1). I'm also a D1 varsity athlete and have a 4.0. I think I have a pretty good shot and would like to apply online to those companies not coming to my school. What month is a good time?

 

I would start networking with alumni now so that come December/January when banks start looking for interns, you can avoid the online application process (applying online is almost akin to throwing your resume straight into the trash). Get someone within the IBD to pass your resume on to HR so they actually look at it, you'll probably look good enough on paper to warrant a first round phone screening.

 
GoodBread:
Right now.

Yes, that's what I'm thinking, but then you have a following dilemma:

In my school (and most others in the UK) banks come to campus pretty late, since the term starts in Oct - like GS and MS are in the beginning of Nov. There is also shitloads of networking events / trading games / other things to attend, which could potentially strengthen your CV. But by them 2 months of app time would have passed, so obviously you would be pretty late. Any thoughts?

"Every man should lose a battle in his youth, so he does not lose a war when he is old"
 

How far into summer will this exactly go? Some places allow their SAs to start a little late (provided that it's not too much later into the summer).

Considering that you're a non-target, the ideal situation is one where you take the winter internship. It's something secure and that you have locked down that will open many, many doors by way of networking and practical experience. The problem lies in that if you stand a good chance to nab a SA position in your next summer, it may be less advantageous to skip that opportunity. Plus, you'll have to fill the gap in the summer with something.

in it 2 win it
 

Thank you for your response.

the internship will end in late june. I understand that it will be a great opportunity, however I do not want to get stuck in public finance. And also, to fill the second part of that summer I plan on studying abroad at LSE doing their summer school program.

I guess my main question is will banks notice/care that I am applying for the summer after my fourth year as long as I still have another semester to finish after the SA stint?

 

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