Bulge Bracket- how much do prior internships matter?
I go to a semi-target that is located in the South. I have good grades (3.8+), I am doing a local IB boutique internship this summer after finishing my freshman year. I could be overthinking things, but as a white male from the South, I still feel that my shot at landing a bulge bracket is a long shot. I network often and I've asked nearly every banker that I've spoken to what else I should do to position myself for NY IB recruiting and they just tell me I'm on the right track. Honestly, I feel like this is not good enough. I'm not working that hard because there isn't that much to do at this stage. Is a bulge bracket truly able to be earned, or will there need to be some luck involved? From my view, landing a bulge bracket seems lofty given my background is not stellar. The only outstanding aspect of my resume is the freshman IB boutique internship and I was wondering if anyone could speak to how much weight that would really carry on Wall Street, if it means anything at all.
Apply to SA internship between your junior and senior year. Keep networking and making contacts. If nothing comes of it. Apply to a strong target MBA school( Wharton, NYU, Harvard, etc. etc..)
Yes, you're overthinking almost everything. A boutique IB internship for your freshman summer is extremely strong. No one expects you to be at a BB in a FO internship for your freshman year, as most kids either work somewhere non-finance related (retail) or do some bs wealth management internship. You're not likely to get a BB SA offer for your sophomore summer (because you're not an URM or at HYP), but you're on the right track for a MM IB spot, which would also be an extremely strong internship.
About being from the south, I've seen many classmates and alumni (myself included) get IB from non-target SEC schools at reputable BBs, MMs, and EBs. You simply need to network your ass off. If you have a southern accent, you might be looked down on by some people, but it likely won't hurt you too badly considering your internship experience is stellar (unless it's super thick, in which case work on that for interviews). If NY doesn't work out, you'll have an easier time recruiting for southern banking cities like Charlotte, which is an awesome place to spend your analyst years.
In terms of advice. you are on the right track, just like your contacts have told you. Chill with the neuroticism, because I'd be very surprised if you don't get BB or at least a strong MM.
you could transfer to a target school, ideally for next semester, but it might be too late for fall...maybe for spring semester 2020 halfway thru your sophomore year...that would increase your BB application chances for junior/senior year.
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