Hello guys,
I recently started applying for internships at investment banks and asset management firms. I've been doing my best to get my applications in early. However, I have been dinged at the very first stage every time so far.
A lot of the time it will be because the psychometric test is part of the first round, which is fine as I know it's a weakness of mine and so I can start working towards that. However, I have been getting rejected even from places which don't include tests in their first round, and I believe that my CV/cover letter are up to scratch. I go to a semi target with a decent but not stellar grade for my first year (I think the equivalent GPA is like 3.4) and I study mathematics. I also have a fair amount of decent ECs under my belt.
Let's assume for a sec that my cover letter/CV are indeed up to standard as I believe (just for the sake of this question I'm about to drop). Do you think my grades and quality of school are enough to let me down in the initial screening? Would someone with my grades and school need to rely more on networking to get such internships?
Thanks in advance.
Its a dog eat dog world man. Unfortunately even though you go to a good school and have a fine GPA (many places may ding you or not even look at your resume if it isn't above a certain standard - I was told BMO wont look at anyone without a 3.75+ this year). Networking is the only advice I can offer, and has been the only way I get interviews coming out of a non-target. Best of luck to you
Woww 3.75 just to get a shoe in. I see, thank you very much! Do you use WSO's networking template, and if so is it worth it? Also how did you manage to get into contact with/reach out to people in your target industry?
Thanks again for your advice
My friend had networked there for close to 50 hours, has a 3.7 GPA, 2 summers at a boutique and IBD, knows second year analysts there that we grew up with since 3rd grade, and he still didn't even get a first round interview.
I use my own template, but my highlighted points would be to ask for only 2 things: 1. Advice on how to move forward (this works well if you have previous experience) 2. To learn more about their job and what their role entails
I always have good questions ready, so if they work in debt capital markets, don't ask them about restructuring deals. I reach out to everyone and try my best to add a line or two to personalize and make them feel special. People at smaller shops are very nice and return my emails maybe 50-75% of the time. People at big shops respond maybe 20% of the time. The exception is alumni. They respond 95% of the time for me and are huge resources. Edit: to answer OP's question
as mentioned above, its just a competitive world out there in finance. you have to be persistent, and yes, you must start networking. if you need anyone to look over your resume and critique it feel free to PM. luck also plays a big role in these kinds of things, you've got people from all over the world applying for the same job as you. your school can matter, but its not the end all to a job app. dont let anyone tell you otherwise
Ok advice taken, thank you very much. Also PM'd you.
I have found its best to take the psychometric tests heavily intoxicated.
hahaha ok i'll try that next time
Network, i go to a semi target, with a 3.9+ but wouldn't have landed all my interviews without it.
Seems like pretty recurring theme of advice here, I know where to focus my efforts now thanks.
OP do you go to a UK university?
Yes I do
Hi Ajar- I'm sort of in the same situation. Would year are you in?
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