How screwed am I for I-banking by starting late?
Hi everybody. I am currently a sophomore at a top 15 private university. I was originally a pre-med student (majoring in neuroscience), but I have decided that finance and banking are more interesting and rewarding. The problem is that I have taken basically no economics/math courses, and I have to withdraw this semester to deal with some family issues (my dad has been very sick). My GPA is currently a ~3.8, and I will take micro and calculus in the spring.
Assuming I take summer courses, how far behind am I going to be if I am planning on a career in finance?
You are totally fine. I would extend your graduation 1 semester rather than doing summer classes though... allows you another shot at recruiting if you need it, and you should try to do an internship this summer. Ideally do both, like a 6-8 week internship and 1 or 2 summer classes before or after.
Spend the semester networking as much as you can, and then try to buckle down with apps in the spring. On campus recruiting will likely start then, so get involved with that. The highest level of math you really need to do recruiting is algebra, and most people have to learn the technicals on their own anyway. Look into some introductory financial accounting/finance materials if you want to get a head start. Having a 3.8 and a top school puts you way ahead.
Thanks for the advice! So the fact that I’ve only completed one economics shouldn’t hurt me that much in finding an internship for this summer?
Nope, micro/macro economics are mostly theory-based classes - useful as background, but you should be okay recruiting without them. Accounting and finance classes are far more useful, but many sophomores have not taken them yet, so for a sophomore internship you should be just fine. Learn the technicals of course, but not having the coursework is not a big deal. Aim for a boutique/MM IB firm and then get going on junior summer.
I interned at a leading mid market bank in the uk six months after graduating after having worked in another industry. I had no previous internships and didn't do anything finance related at university. Keep networking mate.
You need to delay your graduation and start networking for 2020 summer analyst opportunities - virtually all banks are done for this cycle.
there are like hundreds of small 50ppl shops that havent started recruiting yet.. chill
I know people who started junior/senior year with worse credentials than you have provided. Your reasoning for leaving the med track will also be a good part of your story. Start networking!
Thanks, that’s reassuring! Will the fact that I had to withdrew an entire semester hurt me if I explain that it was due to a family emergency?
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