Hey guys --
So I accepted an IB SA role at a boutique. I made some contacts // had an interview at a BB and a couple other "stronger" firms but did not land those. I want to try and shoot for these companies for FT this summer... is it as simple as reaching out to SA recruiters/contacts before the summer starts for coffee? Or is there something I'm missing?
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You should focus on your internship and doing well!
As the poster above me already mentioned, focus on crushing your internship first and foremost so you can: 1) get a return offer (if possible - a lot of boutiques don't give out FT offers given their size) 2) Put some meaningful work/deal/analytical/technical experience on your resume 3) Get a solid recommendation from your seniors
Despite not being familiar with how or why you got dinged by the other firms, it doesn't hurt to try to stay in touch. Bankers know there are only a few number of SA spots a year and wont necessarily hold it against you if you weren't competitive enough - people can improve significantly in the time between the SA and FT process
Reach out sometime before the end of summer (e.g. not in August/September when accelerated/FT interviews start, but perhaps in June or July when bankers are relatively less busy) and politely request to speak/meet for coffee so you ask some questions or ask for their advice regarding FT recruitment etc. If I were you, I would primarily target any bankers at the stronger firms who took a similar path to you (SA @ Boutique --> BB FT etc) since they will be more receptive to your story. Cast a wide net, including people you met during the SA process as well as any alumni etc on the street
Whatever you do, make sure to stay in touch throughout the summer so you are at the top of their minds when it comes to thinking about their accelerated or FT recruitment process. If you talk to a person once in June, and then send an email around the resume drop saying "Hi, remember me?" , it isn't very effective. The more meaningful conversations you've had, the more willing that banker will be to push for you
It probably also wouldn't hurt to bolster your technical experience with a self-study modeling course if your boutique doesn't offer any on-the-job modelling.
Good luck!
Thanks man -- this is super helpful.
On a related note, my boutique is in NYC -- would it be acceptable to just sneak out around lunch/dinner for 30m or so to meet with people? Just trying to figure out the timeline
That is actually one of the reasons why people decide to intern in NYC. Else there is not much difference being in Texas or NYC.
would MM/BB IBs, specifically product groups (M&A/Lev Fin) ever take soph summer IB interns (especially if they've already taken a financial modeling prep course)? or would sophs just be better off sticking to a boutique SA position while networking w MM/BB IBs for their junior year SA opportunity?
many now explicitly have sophomore internships, off the top of my head at least two of GS/MS/JPM (I forget exactly), Blackstone, Perella, and others I'm sure. and with the right connections/relationships anything's always possible, formal program or no
Be very careful of disappearing to go meet up with other bankers. That can be a sure fire way to ensure that you dont get a return offer from your internship. If your current shop is pretty laid back then use your discretion, otherwise I would stick to phone calls and email.
To some extent I agree. But being able to meet with people face to face is a fantastic differentiator. Think about it this way: 100 percent of your competition can meet with someone via email. Far less can meet in person.
But do be careful not to piss people off.
One thing to point out here is that a lot of boutiques do not extend full time offers due to budget.
A friend of mine was in such a position and his MDs encouraged him to network with other bankers and firms as long as it didn't ruin his work product and landed a FT position at an elite boutique.
Definitely possible...just need to have the drive and commitment to keep those relationships going and make yourself an even better candidate for full time.
are MM/BBs still taking summer interns?
what if you checked into a mental institution? Woah
not very nice :(
i'm already scared of reaching out to IB analysts as a non-target. you're not helping.
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