first year internship opportunity
So yea I'm a first year student in Toronto looking for any finance internship that would improve my chances for ibanking and it looks like I can get a job this summer in Small Business Banking in the finance department at Scotiabank. I'm not too sure of the details just yet and am curious about what type of work i would be expected to do and if it would be good experience.Thanks for any replies
If you want to get into IB, business banking is more along the lines of commercial banking which is more along the lines of RM, which is virtually somewhat sales, which is....
In other words if you want to work in IBD, keep looking.
Wait, did I just read you're a first year? For crying out loud...go home this summer and get laid. Go look for an internship next year. Keep your GPA high and keep reading but kid don't be in a rush to wear daddy's suit and tie just yet...
^Its that attitude that got me a C in stats first semester lol. The fact is I don't go to Harvard/Wharton and I definitely won't get an ibanking offer because of my grades which leaves work experience. But yeah you didn't really answer my question.
sammy, he did explain what your job entailed, he just wasn't friendly with it.
Your job consists of commercial banking, which since, it's a bind of mind-numbing repetition, it probably won't be the greatest experience you've ever had.
My apologies, Ill be a bit less callous...
Business Banking sucks though....bottom line. It wont help or hurt you when applying to IB programs next year.
Besides, it looks like you should be studying anyway. Why are you taking stats as a first year? I think you've got to slow down man. My advice is to see about summer school for that class. if you're from a non-target, implant in your brain that you need a 3.7 at minimum to have a fighting shot...
i'm gonna go the other way on this. i think any remotely legit internship your first year is pretty good. so the fact that you've worked in a bank, even on the commercial banking side, for the summer after your frosh year is a good thing.
you're gonna graduated in what 2010? man i feel old.
I'm speaking from experience. It won't help or hurt you if you don't do anything your first year. Commercial banking and I-banking are somewhat similar but how much of an edge do you think he's going to have if his gpa is below marginal but he has an internship under his belt? None.
Get your priorities together sammy and study more, worry about working less.
alright thanks for your replies everyone. Jimbo, yes I will be graduating in 2010.
I'm confident that I can get my gpa up there by third year..but I don't know I guess I thought that doing something would be better than doing nothing I mean I do have four months its not like i'l be working ibanking hours during the internship so I'l have still have time to just chill. I'm thinking it might be a good chance to at the very least make some good references or contacts and from there possibly use that experience to land a better job second year and finally an ibanking internship 3rd year.
That really sucks though I thought that getting an internship anywhere would have been a huge plus seeing it as most people don't get them till 2nd or third year.
Jimbo and I just advised you as to what you should be doing within that four month period....getting your grades up by attending summer school.
It's your call, but I will say this. How many undergrads do you think get hired into a premier analyst IB program (Goldman, Merrill, Lehman etc.), a premier P.E shop or HFund for that matter with a punk ass 3.0? I'll tell you this, I'd put my money on watching someone get struck by lightning in front of me first. That is virtually an oxymoron in the hiring sense.
at least work for the contacts that you can make...networking will be huge for you later on when you want to get that junior summer internship. You never know who might know someone
ok vader...i didn't read the thread that closely. gpa is much more important. it's a hurdle, and if you don't cross it you're not getting through. maybe take summer classes?
Don't listen to these idiots who tell you not to get an internship your Freshman summer, ESPECIALLY from a non-core with marginal grades! Use your freshman summer to get experience that you can parlay into a better internship Sophomore summer, and have 2 internships under your belt going into I-Banking internship season. One caveat, be sure to LEARN something in each internship. I did a financial advising internship my Freshman summer, and while unrelated to I-banking, next summer they offered to sponsor me for my Series 7. After 2 years there, I left for a more relevant finance internship. But guess what? In my 2 years there I learned very valuable skills such as how to conduct myself professionally, how to sell, how to understand and explain financial markets, and probably most importantly, what I did and did not want to do with my career (maybe you will LIKE small business banking, GASP!). Without doing an I-banking internship from a non-core, I got 7 I-banking offers, and will be starting with my top choice this upcoming summer.
And to the point about just getting laid over summer, chics don't dig poor, unemployed slackers. Do the internship.
lol
ok.... study hard during the year.... work during summer... its not mutually exclusive like these guys are telling you
Dude you should shoot two bird with one stone. Get the internship but bang your hottest fellow intern. There you get the best of both worlds.
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