How important is it that you get an internship in your "3rd year"?

Hey guys, I've been recently accepted into several schools as a transfer student. I would be entering whichever school I decide on as a "junior" since I have finished 2 years at my current college. I've put 3rd year in quotes because I want to know what the importance of it is in connection to your junior year.

I want to spend one year at the new university building up my GPA and resume and then apply in the fall of 2018. If I applied this fall I'd have nothing on my resume from the new university and would have to solely use my application from my current one.

What's really setting me back is how strict the firms are gonna take the word "junior". In fact, why do they even care what year the student is? I understand why they don't accept freshman or seniors because one is just in their first year and the other is in the last, but I would have thought that as long as you get an internship in the summer before your final year, you would be good to go? I'd rather set up more of a resume at the new university with GPA and extracurriculars to show them after a year there so that they would have more to look at. My question is, are banks gonna view it negatively that I'm not applying in my "junior" year? I'd still be interning before my final year, just not in my 3rd (or junior) year.I understand this is a complicated question, thanks for your help!

18 Comments
 

I don´t get the problem?

Don´t say this in a banking interview: Which superhero would you be and why? I want to be like Robin Hood, stealing from the rich and giving to the poor - me.
 

To the university I'm going to, I'll be entering in as a junior. I know that junior year internships are very important in landing an IB job. The thing is that I'll have no GPA and activities to show them because I know that I'd have to apply for summer internships this fall. I have to spend an extra year anyways because of how my credits will transfer, so I was thinking that I'd use this next year to build my resume and apply in the fall of 2018. My question is, are banks gonna view it negatively that I'm not applying in my "junior" year? I'd still be interning before my final year, just not in my 3rd (or junior) year.

 
Best Response

Banks only care that you apply in your "penultimate year", meaning they want you to intern with them the summer before you graduate. So if you're graduating May 2020, definitely focus your efforts on 2019 Summer Analyst Recruiting. BUT I'd still apply for Summer Analyst 2018 as well, because they'll see you as a "Junior" either way.

 

They won't really care which grades are from where. Just list your most current, cumulative, and accurate GPA. And list that you're currently attending the school you transferred to, if you are officially enrolled. I don't think they'll try and weight out the value of your GPA based on when you transferred. Any discussions of your transfer will largely revolve around "why did you transfer".

 

Thanks, ya I figured it would probably more common with banks or firms actually based in Europe as opposed with branches of NY based firms

"Understanding reality, and financial markets in particular, is a never ending process." - George Soros
 

Quas ab soluta est. Molestiae autem eos distinctio iusto iste. Eos velit voluptatem expedita aut velit quo id. Recusandae quo quos est nam consequatur sit.

Fugiat illum ducimus dolorem nihil modi. Corporis voluptate illo quas sit non tempore sed. Qui omnis natus dolore reprehenderit optio. Dolore rerum et consequatur rem qui. Dolore exercitationem enim enim expedita harum. Accusantium quo accusantium quis voluptas commodi ea ut.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • JPMorgan 01 98.2%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 01 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.6%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.8%
  • Morgan Stanley 05 98.2%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (43) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (75) $151
  • Intern/Summer Analyst (67) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
CompBanker's picture
CompBanker
98.9
6
DrApeman's picture
DrApeman
98.9
7
dosk17's picture
dosk17
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”