2nd Year Internship for Canadian IB Recruiting
Hi freshman at a Canadian target here. I’ve decided that I do want to try for IB and I was wondering about 2nd Year Internships. I understand you typically recruit for third year SA around Feb-March of your second year. But I just realized that I would pretty much have no relevant experience on my resume. Freshman Internships are pretty much impossible without a club or nepo and I see that a lot of typical 2nd year summer internships from the B6 or the big 4 literally open right before IB recruiting. So what are you even supposed to do in that situation? Do most people have 2nd year offers by IB recruiting? What roles are they getting? I’m gonna be trying to get some work at a search fund or something after club hiring but I feel like that’s not enough
Based on the most helpful WSO content, here's what you need to know about preparing for IB recruiting as a Canadian target school freshman:
Timing of 2nd Year Internships:
You're correct that IB recruiting for third-year Summer Analyst (SA) roles typically happens in February-March of your second year. By that time, many candidates aim to have some relevant experience on their resumes to stand out.
Challenges with Freshman Internships:
Freshman internships are indeed tough to secure without strong connections (e.g., networking or family ties) or involvement in finance-related clubs. However, don't let this discourage you—there are alternative ways to build your profile.
What Most Candidates Do for 2nd Year Internships:
Many students at Canadian target schools secure internships in roles that are not directly in IB but still demonstrate relevant skills. Common options include:
Do Most People Have 2nd Year Offers by IB Recruiting?
Not necessarily. While having a 2nd-year internship offer by the time IB recruiting starts is ideal, it's not a dealbreaker. Many candidates secure their 2nd-year internships after IB recruiting begins. The key is to demonstrate initiative and relevant skills through other experiences, such as:
Action Plan for You:
Remember, the goal is to demonstrate your interest in finance and your ability to learn quickly. Even if your 2nd-year internship isn't directly in IB, showing relevant skills and a proactive attitude can make a strong impression during recruiting.
Sources: https://www.wallstreetoasis.com/forum/investment-banking/m7-ib-associate-full-time-recruiting?customgpt=1, No IB offers for the summer...what now?, 7 Tips for the Boutique IB Summer Stint, Here are the Target Undergraduate Schools in Canada, What Second Year Internships Would Look Best For IB?
What school do you go to? You can very easily bag an unpaid search fund or smth back office at a big firm for first year w/o nepo and cold apps / emails if u have a decent gpa and extracurriculars of any form to show you’re interested in finance.
Most people don’t get anything front office in b6 for 2nd year summer unless they have nepo or diversity etc. You should gun for mid market pe shops like Novacap, instar, pcp, maverix etc or if u have a competitive resume, altas and pensions like otpp, cpp, omers, bci, aimco etc not just in pe but also publicmarkets, spec asset class investment teams. Dawson used to hire 2nd years but stopped cuz of all the renegging.
Also a bunch of boutiques u could try, back office roles at brookfield, diversity programs, big 4 valuations and advisory, even b4 actg will pass off for recruiting. Its important to network for 3rd year in ib alongside 2nd yr because of how competitive it gets esp if you’re at a non target. Plant the seeds early and update them as u go, hope for the best from there on
I go to Queens. A couple of my classmates have got search fund internships through class mates recently so I think I could probably get something similar. I was more so wondering about the recruiting window. are a lot of the 2nd year summer offers before IB recruiting? Cuz a lot of them seem to open at the same time and ideally you would already want it on yout resume by 2nd year feb/march. Should I start networking for 2nd year summers by freshman summer?
All the buyside shops i mentioned in canada (pensions, mm and lmm pe, altas etc) all wrap up by august/sep so it’s super imp to get a search fund for summer asap ans start networking for 2nd year summer.
Also not sure which postings you saw clashing with IB, there’s a few back office things and very few processes w b4 maybe that run right now at the same time as next year IB apps but generally most recruiting for things that are directly relevant to ib or in front office capital markwts wrap up way before IB timeline.
Queens has maaaaaany finance clubs excluding the big ones that are sort of more competitive (QUIC, Limestone, QPCG) that you can try for and get on. Some i know of are QUFN, Trillium , QCAP etc and even if ur not on them they should be super willing to help regardless, i hope.
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