Too Late for 2019 Summer Opps?
What's up WSO,
I'm a sophomore at a semi-target in the northeast, and I only have one internship experience in a small shop doing PWM. Didn't really get screened for many opportunities within FO (probably due to having around a 3.3 GPA).
I've just been hustling and networking my ass off and I have found a few opportunities where I've been referred to a position by my mentor. In case I don't secure anything and since most BB programs or deadlines have past, what or where should I be looking at to secure a sophomore summer internship and still be able to transition for an IB internship for junior year summer?
You need to get that GPA up, definitely over a 3.5/3.6 but a 3.7/3.8 to be safe.
For this summer aim at small sub-10 people IB shops in various cities. Look at other cities like Philly, Boston, DC to find small shops needing cheap help
Agreed, a 3.3. is already bad, but as a sophomore that's a huge concern given you're not taking any of the super advanced classes as a freshman.
Even something asset management / corporate finance related is good as a sophomore internship though. If you can't get IB you def want to have at least a brand name on there tho
In my opinion, your time would be best directed at BO/MO roles at large firms that have excellent brand name recognition.
Thanks for the input, but is it actually possible to transition to IB for junior year summer or would I be pegged as “finance” or “compliance” for the rest of my career?
I have OCR coffee chats coming up with MS for finance and compliance for opps this summer; so it’s very possible for me to secure something; I just want to know the answer to the question in the paragraph above given IB is where I want to be after graduation
In my personal experience, it was no issue, I was able to speak to relevant skills I learned in my more MO/BO roles and why IB. Plus at a big well-known firm, you can be networking with people in the area you want. (i.e. IB) I think that you should be in a great position to apply for IB after a summer in a less FO role at one of the big banks. Obviously, if you can land an IB internship at the firm you want then go for it, but its rare and a summer in a MO/BO role is definitely not useless.
Since nobody has answered your actual question, yes, it is too late to recruit for FO summer 2019 ops. Those spots likely filled up Sept / Oct of last year.
Network, network, and network some more...
The more shit you throw at the wall, the more likely something will stick. Don't waste your time applying firms where you have no connections to - once they see the 3.3 GPA they will throw your resume in the "no" pile.
Shit sucks to hear, but man, I was in the exact same position as you. Tap into your alumni network via LinkedIn, network with parents friends, friends parents, friends parents friends, literally anyone you can meet with. Try to book someone everyday of the weekday, buy them lunch or coffee, bring a notebook, and then finish the meeting asking for opportunities. EVENTUALLY shit will stick to the wall.
Keep hustling man, I know it may seem like you hit a dead end but keep going. Find a way to win.
Best of luck...
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