To those who got summer banking internships at boutiques/MM, how many people did you contact? My non-target school doesn't really have a functioning alumni network so I'm forced to cold call and cold email. I cold emailed ~20 MDs at boutiques/MM banks and have only gotten one reply saying that they aren't accepting interns. So frustrating!
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I'm interested in this as well.
Is the best strategy really emailing senior people or should we just cold call the main telephone number asking about internship opportunities? Also, is now the time to start or would early January be better?
well I am a freshman at a non-target in the Midwest ( top 12 finance in US news, but still non-target) and I got a VC internship in SF for my coming summer through a shit load of networking and using connections meaning I interned at place y spoke with most people at the firm and then through 5 different referrals and luck I placed this gig without any resume, GPA, or prior finance knowledge he just told me that my motivation was enough and he would personally train me. Its not what u know its who u know, and its actually not who u know, its who knows you....... First if I were in your shoes I would first really try to get close to your career management dept. in you Bschool ( when they are looking for students for Ibanking internships and they know u, it helps a lot). then I would try to create a club that involves bringing alumni in the picture, for example in my school my friend and I are thinking of starting something where Alumni mentor students starting from freshman year, this way you meet almost all the alumni that actually care about the school. through these efforts I have a meeting with 5 alum in my school that work at Goldman ( I want to enter the Sophomore Spring divisional internship) then hopefully ER/IBD rotational program.
My fav quote now is from Margin Call.... To be good you are either first, smarter, or..... you cheat. I dont cheat, and I go to a nontarget so I am prolly not the smartest, but I can be first.
Cheers bro those are some of my suggestions, because you def have to have some relevant alumni that is in the field or knows someone else that is in the field that you can contact.
Good luck man!
Love this quote after watching the movie too. +1 :)
this. pick up the phone and start dialing.
bump?
I've been having good luck with cold-calling. I must have sent out about 20 emails, and I have two phone screens lined up for next week.
just keep at it, I had to call these VC guys fucking 8 times before that receptionist would pick up the phone.
I dont know but what I feel determines if a student gets an interview is by impressing them, the most popular is of course GPA, School prestige, but I also feel that if you keep knocking on the companies door every 5 days or so and reminding them of who you are, shows that you are dedicated, motivated, ambitious, and you dont give a fuck rejection and that you will bounce back. Again I am a fucking freshman myself so you should not listen to me, but that is just my opinion, and thats how I have the internship I have lined up this summer.
cheers bros
Just keep at it man. Last year I was a freshman at a non-target and I must have sent out over 200 emails to alumni and random boutique banks. I probably had a 10% response rate, of which 9% said they didn't offer internships to freshmen. This was over the course of three to four months, until I finally landed something at a boutique IB. Remember, all you need is one.
Good luck.
^^^^^^^^^ atta boy
This is the WRONG way to network. I went through this exact same process too, so here are my thoughts. The way you're doing it, it seems like all you want out of the MD is an internship (which is somewhat true), but what you want the situation to look like is that you are genuinely interested in the MD, and also his firm, because you're a sophomore who is very interested in a career in finance.
Here's the right way to do it: Your first email should be inquiring into the possibility of an informational interview- i.e. you want to know about him and his firm and his work. This can be either over the phone or in person. This will increase your response rate. Then, actually go through with the informational interview- find out about his own career path, what he likes about his focus within IB, then transition to talking about his firm and what he likes there, and from there, if you have a good rapport, you might wanna segway into a discussion about the possibility of sophomore internships.
Lastly, remember to have a conversation, so don't just rattle off your list off your list of questions. Good luck.
See the mergers and inq article for more details on info interviews. It's very helpful.
Also note that I'm not saying you can't network any other way. This is just the way that has been most productive for me, and at least one soph at my bank this summer got in this way.
I called the boutique i summered at 8 times before I got past the secretary.
We have the same story I guess 8 times is the tipping point for those security gates to open (secretaries).
ABC. Always Be Closing. Get them on the line and seal the deal. You close or you hit the bricks, it's your choice - baller or sweeper!
Is this the only way to get an internship for sophomores at a boutique bank???? I have actually done any cold calling yet...
Depends, do any local boutiques recruit at your school? Check your career services office. If they don't... then yeah start calling.
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