Need internship advice - 17M Undergrad
Hi, i'm currently an undergraduate in Texas interested in getting an internship for the summer of 2016. Next semester(spring) i will be taking an investment and derivative course and am currently in Calculus II. I have self studied most of my financial education in the past 3 years and have been trading equities since. Last year I really got into trading and decided to switch from the path of engineering to economics and finance. I also started trading options and futures and have been looking into derivatives. I am looking into going to U Penn as a post grad if that helps
Now that the background's out of the way, I still have a couple questions after speaking with a few professors and peers: 1) Am I too young to get a proper internship and should I wait until next year? I have heard that there are many liabilities that come with hiring an intern under 18 due to labor laws and whatnot, so they stay away from them. 2) Age aside, what other limiting factors in the eyes of an employer? I can only think of a few, but i'm probably just being too optimistic and would like outside opinions. 3) Which companies should I be looking at, so far I've been looking into JPMorgan, BlackRock, and a couple other larger firms, should I look into smaller firms as well, and can you point me in the right direction? 4) Is there any way I can use my trading experience to my advantage? It seems as though it might be just a drop in the bucket when a company considers someone, prove me wrong. 5) After I'm 18, what are my chances since I'd still have little experience when it comes to working in a firm? 6) Are there any specific maths I should take that would help me?
Comments: I have already heard the just live a little response and wait I expect a 3.8+ GPA based on previous years I don't just trade for fun or on the side, i post a profit and dedicate a good amount of time towards it I feel prepared if the opportunity comes my way, so and opportunity's really what i'm looking for
If you have any questions, feel free to ask, i'm not sure as to what information you guys want/need, so i just did my best
I take it from your age that you a freshman (unless you're some genius).
During your freshman summer, you have a 0% chance of getting anything with a BB. They don't care what kind of math you can do or what kind of finance classes you've taken or where you go to school. At that age, you simply can't offer anything to them yet. Summer positions at BBs generally are funnels for full time offers, so there is no reason for a BB to accept a freshman for an SA position.
That being said, you can still get an internship in PWM or at a small, regional boutique investment bank for this coming summer. If you have some family connections who can pull a few strings for you, you might even be able to get into a small PE fund.
Further notes: - IBs don't care about your returns on personal trading accounts. You can leverage the experience of valuing a company on your resume and in interviews, but frankly, no one will care if you boast to them about XX% annual returns. - The most important internship you'll do is the one the summer after your junior year. That is when you can apply for SA positions at BBs. Previous internships can help you get a position, but are no means a guarantee and are not at all a prerequisite. There are many people who got a internship with no past experience. Likewise, there are people who plenty of past experience but ended up with nothing.
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