Paid internships for freshmen?
Hey WSO,
I'll be starting at a Canadian university in the fall and hope to start networking and build my resume as soon as possible. I am curious to know how common it is for paid internships to be offered to freshmen. Im not dead set on getting a summer gig in IBD but something that is relevant to banking would be ideal. Any knowledge or experience would be great. For what its worth im attending one of the target schools for Bay St. think Queens/Laurier/Rotman etc.
I did an unpaid PWM internship the Fall of my sophomore year. Not sure about Canada but atleast at my school there were a few paid finance related internships for freshmen and sophomores but most revolved around cold-calling which I wasn't in to.
Thanks for the response, I'm not expecting anything spectacular but something that could get my foot in the door and help me out later (and make some money) would be ideal.
Hey, no disrespect, Laurier and Rotman (Undergrad) are not targets.
I understand what you're saying and although the recruiting opportunities for queens/ivey are far better than laurier and rotman, if you look at the co op placements for laurier GS, Citi, TD and several other firms on bay st. have taken on laurier students in the past.
Sure.
http://www.wlu.ca/page.php?grp_id=65&p=20228
RBC IBD, TD IBD, Scotia S&T,
http://www.wlu.ca/page.php?grp_id=65&p=20224
Bank of America Merril Lynch, GS Canada, Bank of Canada
You won't get anything "banking related" as a freshman unless you have some mad connections and it almost certainly will not be paid.
It is also worth noting that Laurier sometimes counts the Laurier/Waterloo dual degrees as "Laurier" students. If you want to get into a BB, your best bet out of Laurier is to 1. Transfer to Ivey (110% serious) 2. Get a Big 4 job, get a CA, and transfer from there. If you don't mind a boutique, pound the pavement hard and maybe you'll get lucky somewhere.
All of the above and network, network, network.
Internships for freshman. (Canada) (Originally Posted: 12/30/2010)
Im currently a first year student in Canada, Toronto, economics major. I've heard a lot about how freshman internships are almost impossible. I've read on how many first years go for private wealth management unpaid internships. Even that would be good, i just want to get my foot in the door. I tried to google for internships but all the websites of major banks dont even have the option of unpaid PWM internships. And i dont know where to obtain the contact infos of FA's if i want to try cold calling. Also, im a little worried that its almost january, and most compnaies recruit in the sept/oct/nov/ time period. If anyone has any advice on where to start looking for internships for freshman, or where/how to find a PWM job in Canada that would be apprectiated. Thanks!
Are you a student at UoFT? Check their career portal page our, there's over 4 pages of jobs listed on that. I don't remember if they were PWM related though.
Knowing anyone in the industry helps...
Also, some time back there was a post on boutique IBs in Ontario - I have the list if you need it - I guess you could try and find a similar list?
No, I dont go to UofT, I got to UWO for econ major. and yes I am also AEO. Im not sure what a 4.0 GPA is but i think my average is 90%+ . I couldnt really find anything on our career portal.... would cold calling boutique firms even work?
Unless you have 4.0 in UWO Econ, you will a have hard time competing against kids from business/commerce programs, especially since Bay St. PWM's actively recruit from York, Ryerson, and Toronto through their career portals.
Anyways, if you are AEO, don't worry about getting your foot in door, as having an 85+ in HBA is pretty much a guarantee in landing toronto ibd junior summer, and gives a good chance at London/NY BB IBD (less: GS).
So what average does an HBA need to work at Goldman?
Relax. Most AEO kids don't' have relevant work experience prior to Ivey, especially in your first summer. You're probably better off working towards a WIC Analyst position in your 2nd or 3rd year, which will set you up nicely for IB recruitment at Ivey (Recruiters love WIC)
Cold calling boutiques in Toronto is less effective than in the US, because there are only a handful of boutiques on Bay street compared to hundreds in the US. If you're a visible minority, I would consider checking out INROADS, which is similar to SEO in the US.
Good luck.
yes its just i would like to give myself a step up. I joined WIC this year, and will definately try for analyst next year. thanks! Is it a huge asset to have been an analyst for recruiters, im just a little worried in case that doesnt work out. is it enough just to be a member?
cold calling is fine
im a freshman at a CAD target and landed a boutique IBD via lots of cold calling, cold emails, etc just be super proactive
edit: my bad for commenting on very old post
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