Ambitious CC Student trying to break into IB
Hello, I’m a Community-College freshman with a 3.8 GPA, it’s my first semester and I’m trying to break into Investment Banking, obviously I know its a huge task but it is possible and I’m willing to drag myself through the dirt for it. I’m currently building a DCF with my professor, and I also will be starting a staff accountant/mini consulting role at an accounting startup with my uncles bestfriend (he’s a CPA) who worked public accounting (Wipfli, and Tilly Baker) I plan on transferring to UIUC and joining IBA, but I just want to know am I cooked? With a DCF/LBO Financial Modeling, Business Club involvement, a 3.7+ GPA, and referral letters is it worth even trying to apply for summer internships while at CC, after this summer? And Do I have a solid shot into breaking into IB?
Would transfer ASAP, do not wait until junior year.
Also consider doing an extra sem after you get to uiuc if you want to buy urself an extra recruiting cycle + recruit with the uiuc gpa. Since SA recruiting kicks off sophomore fall you will have to recruit with the CC gpa even after transferring. If you're shooting for chicago/minnesota it might be less of an issue.
Finally, Is there a reason you are aiming for UIUC? Are you at least applying to other schools in the region like umich, ND, Northwestern, uchicago (ik, huge reach), and transfer friendly schools like cornell, emory, vandy, usc even if they are outside of the midwest? USC is a strong feeder into west coast ib and emory and vandy while lower semis overall have strong placements in the south (atl, dtx, clt) and decent placements in nyc. If it's a financial constraint then my apologies.
audit is fine for a freshman internship. you should be fine aiming for a summer internship in something deal adjacent like valuations, tas, corpdev, fi research, etc at a smaller shop. Boutique buyside & ib internships are tough to land as a non nepo/ diversity program student as a freshman, even at a semi target
** I've seen people break in w/ cc backgrounds (non nyc). Do not graduate early.
I thought so but I also don’t have enough credits and I don’t think I’d be able to get enough in time to be completely honest, as I am also probably transferring via IAI’s and getting an AA at my CC.
Im not particularly shooting for elite BB or huge elite boutiques, Im fine working middle/market, My goal to be honest would be low BB, or high-mid Middle Market then lateraling into Middle market PE and eventually into a corporate leadership position, im not so much of a fiend for prestige I’d just like to have a competitive career while also being able to set myself and my future up financially well.
Im aiming for UIUC because it’s just cost effective, cheap, and I want to major Finance + Accounting, Id end up attempting to seek an MBA at Kellogg or somewhere else. I also am considering out of state schools like Ross, and IU, Vandy, Purdue, etc.
I think I might be able to land some sort of internship, My uncle was a frat founder and majority of his rushee’s and alumni were finance majors who went off into IB, Corp Finance, etc.
I didn't go through this situation myself so can't provide any first hand perspective or advice.
The one thing you should really prioritize is transferring in as a sophomore. Please avoid getting ur associates. I think USC and cornell also does sophomore spring transfers (not 100% on that), but in that scenario you would most likely need to do an additional semester (ex. may 2030 grad date pushed back to dec 2030) so you could recruit in the fall as a soph (although ur technically a junior). You could also just lie about doing another semester and graduate on time.
A lot of career bankers even at EBs went to complete non targets, given they broke in like 10-20 yrs ago. No need to do an MBA unless u failed at breaking in or it's a promotion req at ur PE firm. And don't dickride the bb/umm thing too much. I've seen target kids end up at cantor and complete non target kids end up at centerview (as a first year lateral). I'm not trying to give you false hope but just saying it is extremely luck dependent and if ur going in with that mindset it will be hard to hide during interviews.
Join SEO when u get to college. I've seen like bx, hps internships given to sophomores at complete shit tier schools
I’m also diverse I forgot to mention that lmao
Depends what your targeting. BB - Stretch but possible, MM - Possible, LMM - Possible. Seems like you're doing the right thing I wouldn't overstress just have your techs down and get some relevant experience and just know your angle.
Im targeting Low BB, and MM, I don’t see a point in LMM as I know I’d be able to compete at a high level. In terms of technicals I’m practically obsessing over technicals lol, I spend gym sessions listening to rareliquids DCF video’s and LBO video’s.
Thats wierd dude don't do that. Take a week or 2 in the summer and put a good 50-60hrs into studying the M&I 400 and then put like a few hours every month to keep it embedded. For now just take like a few weeks to actually learn the different product groups, industry groups and known banks, then start reaching out to people to just network once you have a baseline knowledge. Also don't get wound up in this BB > MM > LMM bullshit because thats now how anything works. I'd look at an analyst at a LMM/MM RX boutique with good dealflow more favorably than an Analyst in a low BB group w no dealflow anyday, plus BBs come with a ton of corporate beurocracy that isn't talked about enough. Quality of experience trumps all. This is a game of can you get people to rally behind (i.e like) you, not can you impress someone with your freshman year technical knowledge. Your diverse Join SEO & MLT they make a tangible difference from first hand experience.
Optio ducimus placeat magnam. Soluta quia unde autem perferendis esse in. Odio officia occaecati neque explicabo dolore commodi cupiditate et.
Quidem unde omnis omnis ea. Est accusantium omnis culpa enim fugiat eius. Dolorum beatae quas facere optio voluptatibus earum ullam. Facere aut laborum dolores qui. Et enim illum nam excepturi. Temporibus et in eius.
Officiis numquam delectus recusandae quae quaerat. Qui et similique eum sit aut ullam aliquid.
Perferendis veritatis soluta consequuntur illum. Nostrum natus velit quos dignissimos. Cum sed eum qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...