Atypical Internship Programs
My younger brother is going to be a freshman at a non target university. He wants to go into banking or S&T eventually and I'd like to try and give him a head start so that it's easier for him to get the all important SA internship and, consequently, the full time offer. I know that Goldman, JP Morgan and Lehman (I think...?!) have soph rotational programs - but what other banks have good soph programs? Does anyone know of any freshman recruiting events/quasi internships etc?
Any thoughts would be greatly appreciated! Either here or via PM.
Not to be an ass, but if he wants to do it shouldnt he be the one posting here?
i mean i guess he could have registered for an acct here etc....? but he was telling me how he'd been poking around on the diff bank websites without much success, so i just told him i'd ask around.
Goldman's sophomore program is available to mostly URMs. A general sophomore program exists, but are commonly unadvertised. JP Morgan has the Honor Program. Lehman has a Vision Program. Merrill Lynch has a general SRP. Citi has a general SRP in their markets and banking division. UBS has the President's Program. BoA may have one, but I am not familiar as they are the only bank that did not target my school.
Those are the bulge bracket sophomore opportunities. If you are a URM, the options are wider. However, as I am not a URM, I am unfamiliar with those opportunities.
The practical experience that you gain during these SRPs are questionable, as the rotations are often too quick to allow any meaningful exposure to work. You should consider these SRPs as shadowing opportunities than a traditional internship. Also, note that many of these SRPs focus on rotating you around the entire investment bank, not the investment banking groups. In other words, they expose you to the different players that sustain an investment bank, such as operations, technology, internal finance, etc. They do not actually emphasize rotating you within the different groups, such as M&A, LevFin, etc.
practical experience is questionable true, but dont underestimate the prestige effect of actually rotating within these divisions. Doing an SRP at a BB is essentially a golden ticket for getting interviews junior year.
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