I am an incoming freshman and know that I want to go into banking. When should I start worrying about getting a summer internship for freshman summer? What kind of internship should I aim to get?
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Based on the insights from Wall Street Oasis, it's beneficial to start thinking about internships early, even as a freshman. However, securing a banking internship specifically for the summer after your freshman year can be challenging due to the competitive nature of the field and the typical preference for older students. Here are some steps you can take:
Explore Diverse Opportunities: While landing an investment banking internship might be rare for freshmen, consider internships in related fields such as asset management, financial analysis, or at small financial boutiques. These experiences can be valuable stepping stones.
Networking: Start building your network early. Connect with professionals in the industry, attend finance-related events, and join relevant clubs and organizations at your school. Networking can sometimes lead to internship opportunities that are not advertised.
Skill Development: Use your freshman year to build relevant skills. This could include learning financial modeling, improving your Excel skills, and gaining a solid understanding of financial markets.
Academic Excellence: Focus on achieving strong grades, as academic performance is a critical factor in competitive internship applications.
Be Proactive: Consider reaching out to smaller firms or local businesses for internship opportunities. Sometimes, smaller companies are more open to taking on less experienced interns.
Remember, while securing an internship related to banking in your freshman summer is beneficial, any professional experience you can gain during this time will be valuable.
Sources: As A Soon-To-Be College Freshman, What Should I Do This Fall?, 5 Steps To Becoming A Rockstar Freshman (Undergrad Advice), Some advice on getting a job or internship by Monty09, No IB offers for the summer...what now?, Rising freshman needs help
Local IB boutiques, just send out cold emails
Searchfunds are great but then after doing that go for a boutique bank or LMM/MM PE firm maybe during the school year. Think 75 people.
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