How to break into I banking as a freshman ?
I am freshman at a Non Target school in mid west, going to Columbia for a dual degree program, talked to some of the alumni, any more ideas about how to get to know more people in industry?
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Freshmen wanting to get into Ibanking (Originally Posted: 05/28/2009)
Hey,
Great advice. I will be a freshmen in a top finance program next year so I know it is early for me but I am scared for my prospects of an internship in ibanking because of the current economic trends. To all the recruiters out there, what is it that you look for from a freshmen applying for internships?
I ask because "experience in finance" is something most of them would not have. Do you look at what schools they went to, what clubs they joined, their GPA, the finance related clubs they joined, or what?
Also, are there specific classes that would help me land this internship? For example, in looking at Microsoft's finance internship position page, I see that they want somebody experienced in risk management so I would probably want to take a risk management class to qualify for this position.
Another criterion Microsoft looks at is: "Demonstrated analytical and problem solving skills." Any ideas as to how I can achieve this in my first year of college?
Thanks so much! Daniel
I'm no expert, but I would suggest that for your freshman summer you try to find something "unique." Do something that is pretty cool - the Microsoft position is interesting because everyone knows Microsoft, but it's also doing something a little bit different. You can easily get a gig doing PWM at a bank during the summer, and I'm sure a lot of freshman will do that, but I think the freshman that stick out the best will be the ones who have good grades, good ECs, and unique - but applicable - experience. And PWM at a BB is certainly not unique.
I actually think I misunderstood your question. For your freshman year, a lot will be based on how you interview and how you fit. Your grades will be important of course, and it wouldn't hurt to take a few finance classes to show your interest, but a lot is going to be about "fit." They realize you're not going to have much experience outside of the fast-food joint you worked at for two summers, and they know your finance knowledge is not going to be deep. For a freshman, they're looking for a kid who is interested in finance and is someone who wants and is willing to learn as much as possible. It would also be beneficial to have good ECs on your resume. Finance ECs are great, but definitely get involved in things OUTSIDE of finance - no one wants to work with a guy who eats, sleeps, and dreams finance. Volunteer through school, get involved in intramurals (whether it be playing, organizing, or both), or start something up on your own. Just be involved and do well in school and you'll be all set.
One last piece of advice I have for you is to work hard and do well in school. I graduated about a week ago, and the one regret I have from my college years is slacking off my first two years. I thought a 3.0 would be fine to do everything that I wanted to do, and I did no work at all and enjoyed myself. Looking back, I wish I worked a little bit harder and got the grades I was fully capable of. Don't slack, you'll end up regretting it in the end.
Great comment. It seems like it would go without saying, but for so many kids heading to college the temptation to party and let the grades go by the wayside is very powerful.
It takes a man to admit that mistake.
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