Non-target 3rd year student looking for advice

I’m a third year science major started to take Econ and finance classes that are available and have started to research investment banking and am very interested in it. I’m wondering do I have any shot at this point, I have not done any finance jobs yet, I am located in calgary, Canada. Go to university of Alberta though. I know there are some investment banks here but is it too late to get a summer internship? What should I focus on to have any chance at breaking into investment banking if there is still a small shot? Thanks

 
Most Helpful

Hey there! Here’s what I would do, in order, given your circumstances. Anyone else feel free to add in things I might skip or other things you think may be useful..

  1. Network. Emails followed by calls. As many as you can. Simple LinkedIn searches of the banks you’re interested in, try to filter by first finding your school’s alumni and if there are none, get the emails of analysts/associates. start by emailing one per bank and expand that as you get calls scheduled.

  2. Don’t just look at banking. Not sure how many Canadian banks do equity research or look for sell-side research interns but especially with a science background you could be useful covering healthcare sector. My point is, don’t pigeon-hole yourself into banking, look into ER as well.

  3. Apply. Once you’ve networked, get those applications in. Apply to as many positions as you can IB ER S&T.. don’t limit yourself unless the bank limits you. The more networking + applications you do gives you a better shot at landing a job.

  4. Practice your technicals. Especially as someone from a non-finance undergrad path, technicals will be essential. They may not ask you the toughest ones in interviews but you’ve gotta know the basics. Downloading the free PDF of 400 IB interview questions is a great way to practice these. Completing a modeling course through WSP or CFI will also cover modeling in more detail.

  5. Prepare for non-technical interview. Again, the 400 IB interview questions PDF above is free online and covers these as well. Especially as someone from a science background, be prepared to answer why banking and have a well thought out response to that not having to do with money.

Hope this helps. As a junior already you might have your work cut out for you in landing an internship for this summer though I’m not sure if all of the Canadian banks have similar recruiting cycles as here in the US. Either way, network, follow these steps and know your basic technicals. If you do these steps, particularly building a network of analysts and associates in these banks, you will have a shot even if it’s as a full time analyst if it’s too late to land one this summer. Because it is getting late for this summer, I would recommend you (in addition to the above steps) also apply for PWM, Investment analyst, even commercial banking internships.. basically anywhere you can get a finance related internship on your resume and then focus the networking/interview prep for the full-time cycle next year.

Hope this helps! Lmk if you have any further questions.

(Edit: apologies for the formatting, typed this on my phone)

 

Qui dolores rerum quos sed ut earum ut. Magni corporis dolor aut. Aut qui nesciunt alias debitis.

Deleniti eius sint maxime aut. Sapiente et enim error. Minima optio qui adipisci distinctio voluptate. Accusantium possimus optio voluptatem alias. Qui enim quia deserunt temporibus quod esse. Quos incidunt beatae ut facere et. Culpa voluptate occaecati nobis voluptatum tenetur delectus veniam.

Explicabo omnis suscipit qui quos nihil dolores minus. Nulla explicabo optio voluptatem fugiat est officia. Recusandae laboriosam et pariatur cupiditate hic. Autem ut dolores quia possimus quas recusandae nemo.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
Jamoldo's picture
Jamoldo
98.8
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”