Inquiring an unpaid IB position
Hi all,
Hope everyone has enjoyed the Thanksgiving holiday.
I'll be graduating this spring and was curious, how does one go about inquiring an unpaid analyst position at a MM or boutique investment bank? I understand ft recruiting is nearly over, and also understand that experience is fundamental to break in to banking. That said, is it common for MM or boutique IB to offer unpaid positions in the summer?
Any advice or suggestions would be greatly appreciated. Thank you.
They come by randomly, most don't actively recruit unless they either need free labor for cold calling, making pitch materials, etc or need financial modeling assistance. If you attend a non target I'd avoid dead end firms that won't allow you to network into places that offer FT employment (if you won't be given modeling instruction) as they can be pretty ghetto/useless and would try to network w/alum in banking related industries so that you can have a good learning experience. Also most firms don't mind paying $8-10 per hour unless they are a small buyside shop so I wouldn't try to make your main selling point. Otherwise check with career services and check on the internet for any and all firms and cold call/email them to learn more about their recruiting process. Hope this helps
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