IB Internship Breaking In

Breaking into investment banking (IB) without prior relevant experience can be challenging, but it's not impossible. Based on the most helpful WSO content, here are actionable steps to improve your chances:

1. Leverage Networking Aggressively

• Cold Emailing: Start reaching out to alumni, professionals, and boutique firms. Aim for 15-20 emails a day consistently over several weeks. Build relationships by asking for advice, not jobs.
• Follow-Up: Maintain regular contact with your network every 3-4 weeks. Share intelligent questions about the markets or engage in casual conversations to build rapport.
• Boutique Firms: Focus on smaller boutique investment banks, as they are often more open to candidates with non-traditional backgrounds.

2. Gain Relevant Experience

• Part-Time Internships: Secure a part-time finance internship during your semester, ideally at a boutique IB or private equity (PE) firm. Remote internships can also work but ensure they provide meaningful experience.
• Alternative Roles: If IB internships are unavailable, consider roles in private wealth management (PWM) or corporate finance to build transferable skills.

3. Craft a Convincing Story

• Highlight your passion for IB and how your background (e.g., BBA in IS and SIE certification) has prepared you for the role.
• Develop a narrative that connects your past experiences to your interest in IB. For example, explain how your part-time job at a non-profit taught you skills like financial analysis, teamwork, or problem-solving.

4. Polish Your Resume

• Tailor your resume to emphasize transferable skills and any finance-related coursework or certifications (e.g., SIE).
• Include a strong "story" in your cover letter that demonstrates your commitment to breaking into IB.

5. Master Technicals

• Study technical guides and textbooks to build a solid foundation in financial modeling, valuation, and accounting. Passing the technical screen is critical, as even strong networking won't help if you fail this stage.

6. Target Graduate Recruiting

• Many banks have specific programs for graduate students. Research and apply to these programs, as they may have different criteria than undergraduate recruiting.

7. Be Persistent

• Breaking into IB is a numbers game. Apply widely, network consistently, and don't get discouraged by rejections.

By combining networking, relevant experience, and technical preparation, you can significantly improve your chances of landing an IB internship. Keep pushing forward, and good luck!

Sources: Freshmen: What to do during your freshman year summer, Non-Target Recruiting Guide Part I: Resume and Networking, Two Internships Later: What I wish I Knew While Recruiting! (Toronto), Ask CompBanker, Simplified Guide to Breaking in as Non-Target (EASIER THAN YOU THINK)