Corporate Development Internship. Now What?
HI,
I'm a Sophomore from Chicago MM target Schools (UW-Madison, Illinois, IU-Bloomington, etc.) majoring in Statistics and Finance in Agribusiness, and doing 5 year-ish program due to dual degree requirement (So I have an extra semester, which means extra SA recruiting opportunity). In addition, I will have to serve in military duty for 2 years to maintain my dual citizenship. (I'm coming back approximately June 2020)
After finishing my sophomore year, I've been interning as a Corporate Development Summer Analyst. I was exposed to a PE exit deal, but did not contribute much since I joined after the first bid. Only contribution was updating a due diligence material, which I created P/L from past opened and closed business. This material was provided to the buyers. Rest of my responsibility has been creating M&A tracker and deal sourcing, but no modeling. Furthermore, I've been doing a boot camp during my free time which teaches my how to break down business to building valuation models and LBO.
My GPA is 3.35, and once I'm back, I might be able to bring it up by 3.5~3.6 range in a semester, or 2.
So, once I come back from my service, how should I start preparing for my SA recruiting? Should I network while I'm in the military, and immediately applying for SA once I'm back? or Should I wait, raise my GPA, start networking Summer, then involve in SA recruitment next Spring/Summer? If I don't start SA application in the Summer I come back, I have a small chance of interning at a regional boutique investment bank for that summer.
I'm targeting MM firms, like William Blair, Baird, HL, Lincoln International, BMO, and couple others.
I appreciate any advice in advance.
Any advice is appreciated!
Bump
Raise your GPA and then start connecting with the Alum and the firms you're interested in.
So with that GPA, it's better not to start networking? I heard for the networking, earlier the better. Please correct me if I'm wrong
Depending on how long it takes you to raise your GPA. I would say wait until you hit the 3.4 range and start networking. I assume it'll take you probably another semester, if that's the case then wait another semester to network.
If you network too early with a lower GPA, some of these banks will remember you and cross you off the next time you come back. Nothing is set in stone obviously, but I have seen it happen.
I would offer a different opinion: network as soon as possible, and as often as possible. I see no reason to wait until you raise your GPA. Networking is about personal connections, not resume stats.
Start networking now. The only way to break into IB, especially from the non-target schools listed, is through a strong network. Your GPA likely won't even come up in conversation.
Also, I don't believe banks will "cross you off" or put you on some list simply because you have a subpar GPA while networking. That is far-fetched at best.
Don’t count yourself out from any position. Aim at both BB, MM and boutique. The best thing you can do is to have a wide reach and try everything. Don’t wait to network and don’t only limit yourself to investment banking because it is very difficult to break into. As someone with a similar GPA who thought it would hold him back, I was able to get offers at places that wouldn’t seem possible based on the advice of people from this forum. No diversity or connections. What I would advise is make these connections as early as possible, come across as interesting and vibrant, and the most important thing that they look for is someone who is passionate and willing to make their job the center of their life. Good luck!
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