Any additional things I could be doing to help my chances?
Hello.
I'm in my second year of college and I'm curious what extra things I should be doing to help my chances of breaking into investment banking or investment management. Here's what I will be doing so far:
- Applying for the student managed investment fund at my college.
- Start studying for CFA level 1 so I can take it in my senior year
- Get a good GPA
Any additional things I could do that would help secure an internship my junior year? Trying to do as much as I can because I go to a non-target. It's not a bad college but only a few people break into investment banking each year and they all come from the student managed investment fund. My dream job is being an equity analyst, but investment banking seems like a good entry option. Any relevant advice is greatly appreciated.
Thank you.
Very important, especially from a non-target, to start reaching out to and talking with people as soon and as often as you can, even this early in your sophomore year. I'm going through the recruiting process as a junior right now (semi-target) and I wish I had been proactive about getting to know people earlier. It may seem early but the sooner you do it the more comfortable you will get an the easier it'll be come recruiting time. Some banks will be having stuff in the spring for the summer of 2019, and the only way you'll get invited is if people know who you are.
What kind of people? Alumni? I don't know anything about networking.
Thanks for your reply.
Your best bet for networking is to find someone who has a reason to help you (some connection). Therefore you'll get the highest response rates from alumni from your school. If there aren't many, then you'll have to get more creative. Maybe you have family friends who could put you in touch with people, friends at school who could put you in touch with people, etc.
There are a bunch of different networking guides online, here and other places, that you can and should read. I found that after sending out about a dozen emails or so, it got way easier. You should also send the emails during the work day (if you're sending to a work email). Early in the morning is best. Have a list of questions that you'll start with to potentially ask everybody you talk to. Hopefully, you can pick out something they say and ask them stuff along that line but if not you want at least half a dozen things you could ask to learn more. Definitely know your resume and "story" so you have something to tell people when they ask you about yourself.
In addition to keeping a high GPA and networking, start looking for relevant internships for this summer. Having solid experience is highly advantageous not only in terms of strengthening your resume, but also helping you figure out your career interests.
Given how competitive it is now, it's not uncommon to see people applying for SA positions who've already done a banking internship at a local boutique or have some other related experience and can effectively draw from that experience during their interviews
Gonna look into Python and Machine Learning.
I already have my own trading account. I'm not joining the student fund to necessarily learn something related to stocks (I agree. They probably suck.). I will try to obtain a leadership position, because they all get into really good finance jobs. Maybe they would get those good jobs anyways, but it's too much of a coincidence.
Do a 1 week spring week for the networking opp and to put on your CV
If you're planning on taking level 1 of the CFA you should look into if your University has some sort of CFA scholarship program. Most schools have some sort of program to help students pay the 1k+ cost.
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