Leggo is right, the tech position obviously isn't ideal but it's the best offer you've got. Use that position as a way to network within the bank--speak to as many people as possible in the IB and express your interest in the corporate finance program. If you make a good impression you can position yourself well for next recruiting season.

You'll have to do this tactfully of course (do a search for going from back office to front office positions there is a plethora of information on this site from people who have made the jump).

 

Thanks for the opinions guys!

My only concern with #2 is that the name, albeit well-known in the circle of people who are in the industry, is obviously not as well known as the bulge bracket.

Is this concern unfounded?

 

Not only do you merely have a 3.9, but a 3.9 "+" GPA at a "top 10 target school!" Wow, I cant imagine how you would ever break into ibanking at all!

Honestly, dude, cut the shit and take the VC internship; you dont do shit at PWM.

 

Not only do you merely have a 3.9, but a 3.9 "+" GPA at a "top 10 target school!" Wow, I cant imagine how you would ever break into ibanking at all!

Honestly, dude, cut the shit and take the VC internship; you dont do shit at PWM.

 

Not only do you merely have a 3.9, but a 3.9 "+" GPA at a "top 10 target school!" Wow, I cant imagine how you would ever break into ibanking at all!

Honestly, dude, cut the shit and take the VC internship; you dont do shit at PWM.

 

Not only do you merely have a 3.9, but a 3.9 "+" GPA at a "top 10 target school!" Wow, I cant imagine how you would ever break into ibanking at all!

Honestly, dude, cut the shit and take the VC internship; you dont do shit at PWM.

 

Not only do you merely have a 3.9, but a 3.9 "+" GPA at a "top 10 target school!" Wow, I cant imagine how you would ever break into ibanking at all!

Honestly, dude, cut the shit and take the VC internship; you dont do shit at PWM.

 

Not only do you merely have a 3.9, but a 3.9 "+" GPA at a "top 10 target school!" Wow, I cant imagine how you would ever break into ibanking at all!

Honestly, dude, cut the shit and take the VC internship; you dont do shit at PWM.

 

Thanks guys for all the opinions! Will be taking the VC internship!

and to CA, I really didn't mean to sound pretentious, but merely giving a background of where I'm coming from. However I do apologize if I came off that way.

 

Most people here would say take this or take that. Tbh, it doesn't really matter. All of those look good. What matters is you are able to network and have coffee with people over the summer. I know people who just networked over sophomore summer (as they didn't land anything) and ended up with great gigs for their junior year, and I also know people who had GS/JPM/MS on their resume after their sophomore year, which didn't do shit for them for their junior year.

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."
 

ER is going to be a better play.

Gives you a great idea on how to think about value drivers, thinking critically about assumptions, news, market forces, and is great for modeling experience.

Probably a lot closer to IB than what you'd do than option 2. Would likely look a lot better too.

You really get in depth about what drives revenues, costs, and industry factors that

 

Der Bankier was nice enough to provide the link, though it doesn't seem to work on my browser. I'm sure Queens' career center provides access to the vault guides, you should def. contact someone there and see what resources you can avail of. Vault guides are a very good place to start if you're completely clueless.

Word of caution though, if you're interviewing at BMO/RBC/Scotia/CIBC or any of the Canadian IB's, be sure to know your technicals. Canadian schools are known for their business programs and finance junkies are a dime a dozen. Since positions are scant the only way IB's here can choose between 5 brilliant candidates is by testing their technicals. There's just too much talent. Really don't mean to scare you, sorry if i am, but im trying to open your eyes to the realities of Canadian IB competition - its intense. That said, they should take it much easier on you since you're a sophomore, but do make an effort to go in prepared. Remember also to hedge your risks and spread your eggs, apply to ECM and DCM positions as well as IB.

 
sexonwax:
Der Bankier was nice enough to provide the link, though it doesn't seem to work on my browser. I'm sure Queens' career center provides access to the vault guides, you should def. contact someone there and see what resources you can avail of. Vault guides are a very good place to start if you're completely clueless.

Canadian schools are known for their business programs and finance junkies are a dime a dozen.

Hah, really? Naturally, I know that IB positions in Canada are few and far between. But exactly how strong are the reputations of their finance programs? Specifically, how would an american IB recruiter, or even a banker, view a Canadian finance student?

 

Wow, thanks a lot guys, I'll defin check out the career centre.

And yeah, I also checked out a couple ECM and S&T positions.

They're all mainly looking for 3rd years as a safe investment for their training dollars, but whatever, I'll hope for the best.

 

If you're from Queens, McGill, or Ivey - Canadian & American recruiters alike recognize the rigour of your programs. McGill's finance is highly technical (you have to complete 10 finance courses to graduate, many of which are taken joint with the Master's students). Ivey's program is less quantitative and more case-based, but excellent nonetheless. Queens strikes the balance between McGill & Ivey curricula. This is not to say that other Canadain schools don't have strong finance programs (eg UToronto, JMSB etc) but they don't have the recognition M,Q, & Ivey enjoy in NYC.

I personally know people from those 3 schools who secured NYC positions with GS, MS, Lazard, JPM, UBS, UBS (LA), DB, CS, MOW (consulting). All of these firms recruited on campus, for their NY offices.

Many others I know placed well with BB's in London, too. Outisde of Canada, Q,M, & Ivey (sometimes even Waterloo, even though they're better known for their actuarial science / math focus) place very well.

 

Canadian schools may not enjoy the publicity of target US schools, but are quite good in their own right.

Not saying Queen's could compete with Havard. After all, Harvard's endowment is over 50 times that of ours...but we do have quality students.

Vast majority of my classmates here were all from the very top of their classes in HS. Many have had 1550+ SATs and turned down good US schools (like Columbia, some other Ivies, USC) to come to Queen's Commerce program, including myself (mainly because of the cost of education). People here work their ass off. If your image of Canadian schools are party schools or lumberjacks...you are mistaken. It takes effort to find the time to go out and party if u want to maintain semidecent grades. last year I could go out 2-3 times a week but this year I'm lucky if I can go out once.

I can't comment on Queen's Finance curriculum because I'm just a sophomore and haven't taken upper year finance yet, but yes, a lot of good companies recruit here.

They take the best and brightest of each class, which makes the competition incredibly tense.

in this past year these companies all had at least one person recruited from among us:

Goldman Sachs, Merrill Lynch, JP Morgan, Morgan Stanley, UBS, Credit Suisse, ING, CIBC, BMO, Scotia

and consulting: BCG, Bain and Co, etc.

These guys all get around 100 applications for 1 spot usually. If I manage to land one, I'll be more than ecstatic.

In any case, if I don't get an ibanking internship this year, what do you guys recommend I do for the summer to better prepare for next year?

 

As a disclaimer, I am only a rising Junior.

From my experience, your gpa and school (I'm assuming a semi-target) will drag you down. On top of that, I've heard that a lot of banks are reluctant to sponsor visas. Your experience might be able to offset some of this, and if your MDs really liked you, that could be the push you need to land an interview.

Good luck

 
noobmonkey:
As a disclaimer, I am only a rising Junior.

From my experience, your gpa and school (I'm assuming a semi-target) will drag you down. On top of that, I've heard that a lot of banks are reluctant to sponsor visas. Your experience might be able to offset some of this, and if your MDs really liked you, that could be the push you need to land an interview.

Good luck

How is a 3.66 a drag on my chances? The minimum is a 3.5. My university is a semi-target when it comes to banking, but it is very reputable in other fields including medicine and engineering. It's a top 5-6 in Canada, depending on the year.

Btw, what about my chances in Canada? I'm not really worried about sophomore year seeing as how I can come back here and intern again next summer, btw is London stringent with the visa issue as well?

 

Reading some other posts, it looks like you got your shit through parents. It's not cool to flaunt shit like that. Good for you, though, I guess you looking for new job means you did like shit, and your mom had to suck off one of the MD's to extend your internship (my thought is that she did that in the first place to get you that internship anyways).

 
ruijiang_ma:
Reading some other posts, it looks like you got your shit through parents. It's not cool to flaunt shit like that. Good for you, though, I guess you looking for new job means you did like shit, and your mom had to suck off one of the MD's to extend your internship (my thought is that she did that in the first place to get you that internship anyways).

It's not flaunting, flaunting would be to lie and say I attained both through complete merit which would be dishonest. No freshman gets any proper internship without connections, period. Actually, I excelled and now have 3 MD's vouching for me and sending me resume to their BB contacts, obviously you lack attention to detail otherwise you would have ascertained that I was asking about next summer, hence the "sophomore chances" . It's not wise to express your anger the way just did, it shows weakness and immaturity.

 
CNB90:
So I'm just wondering what my chances are at getting at least an interview for a SA position as a sophomore, I know some U.S banks have sophomore programs and Canadian banks hire a few. A few MD's at my current Ibank know people in U.S banks and said they'd be able to help me out but I don't necessarily want to operate under that assumption, rather I want to base this on merit.

My qualifications:

Canadian university, May 2013 graduate.

GPA: 3.66, Commerce degree.

Experience: 5 week rotational program in one Ibank (IBD,PE,direct investment, investment research, and investment advisory). 2nd internship at another Ibank in the IBD, still there, was meant to be for a month but I'm getting it extended by a couple of weeks - I'm getting valuable financial modeling and presentation experience from the latter. Both are in the middle east.

What are my chances?

The only way this will work is through connections, not OCR or any typical recruiting process. While MDs may see your resume and want to offer you an interview, chances are he will never know you even applied, as the robots in HR like to throw away resumes that don't say c/o 2012.
 

Hi tedyang, check out these resources:

No promises, but maybe one of our professional members will share their wisdom: Beijun-Luo pedro-rojas SalaryCC

You're welcome.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
Beny23:

Hit up alumni from your school on LinkedIn right away. It's weekend so they might read it on Monday but it's your best shot that late in the process.

How should I approach this method? Should I just ask them to meet up with me for an informational interview or be direct and ask if their firm has any openings for an intern? Can you give me any other tips before I start contacting these people or recommend a template that has possibly worked for you?

 

I only managed to find a few analysts that currently work in boutiques, but I will also try contacting VP's and MD's as there are many more of them that are currently employed at boutiques. By the way, is contacting the higher-ups a bad thing to do or does it simply mean the chances of them helping me out are slimmer?

Thanks for all the input so far

iamamonkeybanker - That is definitely true, but some hope is lost after every day goes by

 

Anything related to finance will certainly improve your chances for sa recruiting. However, you may find yourself slightly disadvantaged when competing with other kids in your class who will have stronger internship positions. As always the name of the game is networking and I would suggest starting soon to strongly position yourself for as many interviews as possible.

 

depends on the bank, if its a solid place you will definitely get some good exposure and recognition back home. if its some name nobody has ever heard of then it will be a bit tougher. but a BB in an emerging market might be a good start.

"too good to be true" See my WSO Blog
 

I think it will certainly be seen as a plus, particularly if the bank has some name brand recognition in the U.S. and/or you couple it with some language skills.

Remember, you are a Sophomore. You still have Junior summer to work in NYC if that's where you want to be FT.

 

Tough call. I'd say it's either Option 1 or 3. If you really like the MM firm and want to work there after college, I'd say Option 1.. However, if you are aiming for a top BB firm, then I think Option 3 gives you an edge. First of all, since you are at a target, the real IB experience will set you apart and you will be better prepared for SA interviews at BBs. Secondly, since it's a small firm, you have the chance to make lasting connections with the MD and other higher ups and perhaps utilize their connections in the future. Lastly, this reason is not necessarily that important, but the pay is nice.

 

Hi werty1713, just trying to help:

Or maybe the following users have something to say: Antiaverage JSelbach kyo_chung

I hope those threads give you a bit more insight.

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

Bman1080, bummer your thread hasn't had a response yet. Sometimes bots are smarter than humans anyways:

  • 1st Year S&T Analyst Lateral to Investment Banking Currently a 1st year Institutional Equities Sales analyst at a BB (started 6 months ago). Have ... 1 previous boutique banking internship and a credit risk internship at a BB. I have a solid team but I can ... to Wednesday, December 20, 2017- 6:25pm <p class="h4 m-t-none">Investment Banking ...
  • AMA: Reflections on 1st Semester at Columbia Business School So just for Morgan Stanley, there were ~80 1st round interview spots for Columbia Students across ... For example, for 1st round interview slots, Eaton Vance has 13 slots. Also, whereas Goldman Sachs will ... recruiting. a. Sell-side investment banking: not as many students at top MBA programs are interested in ...
  • 1st year FLDP- thinking about quitting the program. Help please. i learnt about Investment Banking, I was already a senior. It's bad enough that i didn't know ... Hi everyone, Just as the title states, I'm thinking about quitting the program soon. A little ... what i want to do with my future, i didn't even know what my passion is. As a result, i took ...
  • Best M&A Book for 1st Year Analyst Preparation However, as I have non experience in IB and probably the other candidates already have an internship, I am ... /forums/investment-banking-interview-questions-a-comprehensive-guide">Investment Banking Interview ... Hi Guys I passed the first round interviews for CS and DB and will probably have the next ...
  • AMA > Non-Target > Search Fund & AM internships > BB AM 1st year- FI > (Think Wellington, Fidelity, Blackrock) investment staff (not operations)- as I know most of you hungry monkeys want Credit Research (I do not) felt ... the internship path with the brutal insurance sales job, after-which I cold called and presented my ... a week unpaid and worked as a bouncer at various bars throughout the Boston area to pay the bills. Junior ...
  • GS SA 1st Round S&T Phone Interview people whom I have talked to interviewed with GS for investment banking, and they told me that their ... .com/forums/sales-and-trading-salary-vs-investment-banking ... non-target school, and I have a first round phone interview with Goldman Sachs Securities next week. Most ...
  • Deutsche Bank Asset Management SA Chicago's On-campus 1st Interview Advice Needed management internship? This is my first time interviewing with an Investment Bank and I really want this ... DWS's Asset Management summer analyst position in Chicago. This is my first investment banking interview ... Hello fellow monkeys, I was fortunate enough to be given a chance to interview Deutsche Bank ...
  • IB 1st year analyst MM....what to expect start is greatly appreciated as well. <p class="h4 m-t-none">Investment Banking Forum ... ;https://www.wallstreetoasis.com/forums/investment-banking-interview-questions-a-comprehensive-guide&quot ... .wallstreetoasis.com/forums/investment-banking-resume-template">Investment Banking Resume ...
  • More suggestions...

No promises, but sometimes if we mention a user, they will share their wisdom: Dan12345 LadiesMan217 broadstbully

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.
 

transferring to the target school is critical, so it's good that you're working on that.

For this summer, anything related is fine... many kids applying for SA positions junior year don't have PE/Ibanking internships beforehand... they do generally have some other related internships though, which you're already looking okay on...

My advice would be just don't mess up the school transfer. I have no idea how that process works, but I do know that your entire early professional life will be defined based on the school you graduate from and even marginal differences in the quality of the degree can make a vast difference on your prospects in the future...

 

Rerum qui mollitia beatae sed molestiae omnis. Accusamus soluta vero corporis maxime voluptatem saepe. Voluptatem occaecati quia dignissimos aut recusandae maxime cumque cupiditate. Est esse velit voluptas. Aut aliquid qui vel soluta ut et pariatur. Dolor dolor atque ipsum vel corporis.

Ab repellat accusamus tempora esse soluta quis expedita. Alias corporis et recusandae id. Sed est dolorem expedita voluptas. Accusamus provident quia amet sed. Eum repellat accusantium tenetur facilis. Ratione sit in quia dolorem illo et porro.

 

Sed rerum tenetur vero neque similique. Maiores dolore facere exercitationem fuga vero. Asperiores et necessitatibus autem nostrum quia occaecati suscipit et. Qui neque eaque quis ut quis.

Quas et blanditiis nostrum et laborum doloribus aut exercitationem. Sunt adipisci dolorum inventore ut error dolorem. Voluptatem placeat adipisci minima eligendi. Vero culpa numquam minus aperiam qui vero expedita aut. Dolores nostrum sint voluptatem id quam laudantium dolores accusantium. Voluptatem delectus aut cupiditate aut beatae et.

 

Inventore eveniet dolores qui mollitia. Nobis impedit modi perspiciatis repellat dolorem tempore.

Fugit blanditiis quibusdam suscipit totam repellendus iusto. Dignissimos natus tempore quo nesciunt vel quaerat illum. Maiores odio qui totam aut quos animi et numquam. Unde harum dolores non sint culpa voluptate eaque voluptatem.

Odit non voluptas consequatur error. Et sit aspernatur molestiae voluptates libero voluptate. Quam nisi vel pariatur qui expedita itaque. Quaerat aut qui nisi reiciendis quibusdam.

 

Et quos nostrum qui esse error incidunt labore. Aliquid quod necessitatibus reprehenderit inventore voluptatem numquam. Perferendis nemo sunt voluptatem aut esse enim tempora. Explicabo veritatis dolores culpa ut. Ad quas facere non eaque est animi dicta. Voluptatum perspiciatis incidunt nihil cupiditate et officiis magnam. Est quisquam omnis possimus id ut odit illum.

Pariatur dolorum laudantium debitis id reprehenderit non. Iusto reprehenderit quaerat est facilis. Enim dolor in numquam eligendi sit eligendi. Non quia voluptatem magni delectus temporibus.

Totam sunt similique quis ut sit aliquid. Enim reiciendis earum tempora. Ut in qui consectetur et eos facere. Officiis quaerat molestias sed voluptatem maxime. Impedit ipsam saepe omnis veniam.

Eveniet rerum qui ea accusamus porro quis officia. Expedita perferendis eum veniam qui omnis labore. Est sed et amet autem recusandae aut. Enim assumenda quae sed nihil voluptatibus.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”