Does anybody know of any Investment Banks with freshmen programs? I know of Goldman and JP Morgan. Any others?
I am also looking at boutiques since I am a freshmen. Does anybody have any boutique suggestions that are good for transitioning into Bulge Brackets for next year?
Overall, any ibank suggestions for summer internships?
much thanks
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BarCap has a freshman program as well, but it's diversity-oriented. It's called STEMS, Success Through Early Mentorship something.
Most freshman/sophomore specific programs tend to be directed towards diversity, however they don't exclusively pick only "diverse" (w/e that means to you, not getting into it) candidates.
That said :
Morgan Stanley has it's "bridging the gap" internship program for freshman. I think it's for mostly MO/BO roles but it's a feeder into their sophomore rotational program as well as their RBF program and general internship class.
JP has launching leaders day GS has like undergraduate camp and winning women UBS has it's freshman forum.
Most of these programs (other than bridging the gap) are just day(s) long events at the bank, but they are good feeder programs into a lot of their internship programs that the banks run for sophomores and ultimately a junior year internship.
Thanks for all of these details. So most of these internships are only a couple of days of classes and events right? But these tend to be feeders into internships later right? So you would suggest try and get into these select programs and apply to boutiques as well right? Thanks again
I would most definitely try to get into these programs. I did two of the mentioned programs and I would say it helped a lot because I was able to land a banking gig in a pretty decent group at JP/GS/MS. When going through the recruiting the interviews almost always commented on the programs that I had done. Also a lot of people that I met at these events had BB internships after sophomore year.
The one that I know of is JP's internship for freshman and sophomore. Apparently it's extremely competitive and I'm not sure on the diversity piece because like I mentioned earlier the two kids that got it from my school were white and indian.
UBS has a one day Freshman Frenzy. It is through diversity, but they'll take mostly from traditional undergrads as well. When I did it (May 2008) about 2/3 were from top schools, 1 or 2 kids from non-targets, and the rest were from Morehouse, Spelman, Howard, and other historically black colleges.
^^How many were white or asian males?
Are there any real internship programs for freshmen like 8 to 10 weeks? Also do they all mainly revolve around diversity? Thanks
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JP Morgan has the "Launching Leaders" program, which is diversity-based and gets freshmen/sophomores for a full summer internship with a $5,000 scholarship for school that year as well.
I don't know of any other specific freshmen-only programs BB firms offer, but the freshmen I know who got something almost universally had PWM gigs for the summer.
How to apply to boutiques as a freshman (Originally Posted: 10/23/2008)
I'm currently a freshman at a target school, and would like to get an internship at a regional bank this summer. I'm aware that my chances are very slim, given my lack of experience and the banking industry's current conditions. With that said, I've heard it is easier to get an internship over the summer with smaller banks than a formal one with a BB as a lowly freshman. Is this true?
Also, since a lot of these banks do not have formal programs, how would I go about "applying" to summer positions? How do I even know if they are looking for workers? I don't really care where I end up working...it can be anything from NYC to Detroit to Seattle to Chicago. I just genuinely want some good experience and start working corporate jobs rather than all the retail I've done my whole life. What can I expect? Maybe a PWM position if I'm lucky?
Thanks for any insight
What I would do (so take that for what it's worth):
-find alumni at smaller, boutique shops. Give them a call and tell them what you'd like to do. -Small shops mean more accesible partners, etc. Now, granted, I wouldn't cold call them right off the bat, but it might be worth your time to give the main office a call, ask to speak to whoever is in charge of hiring/HR if they have it, and tell them you're interested in interning with them. You realize you're younger than the normal intern, etc. (your job is to convince them you want it badly enough).
-Shoot an e-mail to the partners, tell them your story, tell them why you want to intern at their bank. Offer to work for free if you have to (humility can definitely be your ally). If anything, request a meeting with them. Even if it's just an informational interview, it's your chance to get in front of them.
Hope that helps! Though honestly, it might be worth your time to enjoy your summer, do some community service, or do something unique: go travel, etc. do something you might not get the chance to do again-- start your own small business, or something to that effect. There are plenty of programs that you can try and break into for sophmore summer.
yeah, take a shot this summer but don't sweat it if it doesn't work out. you're a freshman and its the shittiest year ever.
Were they male or female? Women are underrepresented in banking, so they would bring in "diversity."
Boutique Investment Bank - Freshman at target (Originally Posted: 02/09/2012)
Hi, I'm a freshman at a target and I am interviewing for a boutique ib in my home city. I was wondering what I should learn, expect to be asked in. And any more advice about getting a boutique ib internship. Thanks.
Look through the guides. Boutique, MM, or BB, prepare in a similar fashion for any type of bank. Financial statement flow, market trends, dcf analysis, valuation techniques. Look at the WSO guide and the M&I guide.
http://www.wallstreetoasis.com/guide-to-finance-interviews
Freshman... probably nothing technical. Very impressive that you're getting an interview as a freshman, hats off to you.
Know your story on why investment banking. Know it better than your right hand knows your dick.
Best regards.
Shouldnt be very technical but maybe browse through the vault, WSO, or BIWS guides. I would expect that if you can nail 1) Walk me though your resume (whatever resume you have) 2) Why IB 3) Why this boutique you will be in good shape
Yeah I hope not to get nailed as a freshman on the technicals, although I have been trying to learn accounting and valuation on my own.
Freshman Boutique Interview (Originally Posted: 04/19/2012)
I will be interviewing at a few PWM's this upcoming month for summer internships. I am currently a Freshman. What kind of technicals will I be expected to know, if any? Since I am a freshman, what kid of questions should I be expecting? I have done fairly well on interviews in the past, but these will be the first interviews I have ever had with a boutique. I just don't want to be caught off guard.
Any advice is welcome.
There should barely be any technicals, expect many fit though. Just review the industry, what they do, which custodians they work with and how they do it (assuming they're EAMs). Why you want to work there and why you'd make a decent fit, pretty much it. Also depends on the role you carry out...
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