Unique internship situation
I am a rising junior looking to secure a good IB internship next summer. I go to a target school with an economics and entrepreneurship major. I am curious if my lower GPA (3.3) will hurt me significantly even though I am currently in the middle of an internship with an established boutique as a summer analyst. I will have references from my MD, analyst and associate who all started at BB's and I'm assuming have some sort of connection with their respective past employers. Will the significant experience I have this summer help overcome my GPA or am I out of luck for the bigger banks. Thanks for any insight or advice!
Connections will help, but GPA will hurt. Most BBs have official cutoff of 3.5. More senior connections would be able to get around that, but doubt any junior employees can do much to circumvent that.
Although GPA is silly (I had a lower GPA myself), you have to look at it from a bank's perspective: given relatively arbitrary (and often boring) work, one group of monkeys pushed themselves harder than another group of monkeys... banking is often monotonous and silly. They want the monkeys that will grind out the pursuit of seemingly arbitrary goals.
Understand that, but doesn't hiring a monkey who is already trained in the skills of banking a better investment than hiring a monkey who needs to be trained? I could just be wishfully thinking so excuse my bias!
I think you'll be fine in the end-game. Target School, relevant experience, and good connections will take you pretty far despite a below-average GPA. (3.3 isn't horrible, but you could be filtered out on a few resume drops)
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