3rd year Breaking into IB
Hey guys, I've just finished my second year of my economics degree (top10-15) uni. My CV is pretty split down the middle with consulting and finance experience (plenty of leadership and teamwork experience). Predicted a 1:1.
This summer I'm interning in a MO of a BB bank (finance role) which is not ideal. I realise that applying for a grad scheme without a summer internship in IB is basically impossible so I'm wondering how to approach it. I don't want to do a masters so I'm left with applying staright for graduate or going for summers but not sure which banks take final years for summers (if anyone has a list it would be great).
Let me know what you guys think, any help would be really appreciated. I'm at a bit of a loss here.
Wait, you just finished second year. You should be able to get a junior year internship still in an IB division. At the very least you might be able to summer at you current BB MO job and then transition to FO full-time.
Hey and thank you for the answer, in the UK only certain banks take 3rd years for internships and as far as I know most don't. I will definitely try to do very well in my MO internship and basically tell them that I want to change to IB FO after and hope they'll consider me but chances are slim.
Bump
Maybe you could apply to Big 4 CF grad schemes as well as off cycles at banks. You won't need previous IB experience for them, and your background seems competitive enough. Moving to certain banks (and PE firms) is doable from Big 4 CF in London after a couple of years.
Thanks, yeah I did think about that. Reckon there's even any point applying for graduate schemes at BB in September given my background?
I have seen Barclays and DB both take people who have interned elsewhere (in consulting/Big 4) before, so it may be worth it at those. Both JPM and MS didn't recruit for FT last year, the other US BBs did but I think they will be more selective as people from Euro BBs will try to lateral to them.
EDIT: just saw you are at Barclays - can confirm that people can lateral from MO divisions - basically just do well on your internship, get the return and ask to move to IB. They will fast-track you to AC (assuming they are recruiting for FT).
Apply to all banks and put your grad date as 2022 in the application portal. I did this and landed a SA after my final year at a bank that is strict about the penultimate rule.
https://www.wallstreetoasis.com/forums/20-most-frequently-asked-questio…
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