What can I do before starting my degree?
Hello everyone,
I recently got an offer for a target UK university for a part economics course (think PPE, Economics and History,....). There's a long time before starting now as I have already got the grades and I am in my gap year right now.
I think I am interested in corporate finance based on brief a level work experience but there's a lot out there to also look at and specialize in, which is why I said "I think". I'm not fully sure what else is available to me given my degree might not be mathematic enough to go for certain roles but I might be wrong. If there's anything in particular people can recommend doing in this time between now and then for general careers that would be great to hear too.
In an ideal world I can try get a relevant internship but it will be hard. Even in first year I gather it's pretty hard to get a summer internship. But worst case scenario, I am going to try to better my skills in Python as one of the firms I did work experience with had recommended this.
I also want to learn more about the various subsections within IB for example, and try to piece together my own interests and see which groups I'd enjoy most. I'm not really sure how to do this apart from networking on linkedin with current interns to see if they will be open to me shooting out some questions to learn about it.
So, I wanted to ask - what else can I do before starting my degree?
My main plan so far is:
1. figuring out what specific areas I'd like in IB and why
2. trying to get experience to learn more about the area and see if I actually like it in practice
3. figuring out what else is out there aside from IB, maybe S&T desks, VC, so on.
Hello,
Firstly, you're well ahead of most of your peers, both professionally (already having a good sense of the sector and some relevant experience) and in maturity (at least I wasn't thinking like you and having that self-awareness at your age).
Second, really big question.
On (1) and (3) you have the right idea about networking. This will be your absolute best way to get genuine insights. You're also young enough that these can be genuine conversations where you can show a bit of vulnerability and admit that you're not really sure whether this career is for you - people will appreciate that (the vast majority of networking calls are frequently just thinly-veiled excuses to name-drop someone in an interview or ask for a reference. I don't blame prospects for that by the way, they're incentivised to do this).
I think you should network across the spectrum of seniority (and definitely not just interns who, while the conversation might have some useful takeaways, won't be in the position to give you any deep insights about how different teams differ, what life in IB is really like, etc.) With some of the more senior bankers you manage to connect with (and who you seem to get on with), you could even ask if they'd act as a mentor (they might say no, but they won't be offended - rather it's a compliment).
Agreed that it'll be extremely difficult at your age. You have your university career for that, so don't worry about it (some thoughts on how to improve your chances of an internship while at university below).
Lastly, relax, have fun, and enjoy your gap year. Have those life experiences which are harder to have in years' time.
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1) Be involved in finance / econmics-related societies and attend their events, particularly career-related. I can't comment on specific societies at your university of course, but you can research in advance and they'll be pretty obvious in fresher's week.
2) Do a Spring Week. Apply early and apply broadly. Get advice from people in societies. Don't faff about, get your CV sorted and send those applications out rather than hesitate.
3) Get a role / leadership position in a society, or found one (probably more a Year 2 than Year 1 thing), but in your first year there'll be elections towards the end of the year so be aware of those.
4) Network A LOT - bit of a repeat of the main body of the comment here, but now your mission is references and name-drops I'm afraid. Try to find people who you have something in common with (same hometown, university, course, etc.) and be personal.
5) Maybe look at courses to brush up your technicals to prepare for interviews, but you can self-learn these. As far as courses go maybe look at BIWS or WSO - not a formal course as such, but something to educate and prepare you for assessment centres, and indicate some interest in the sector.
6) Find some extra-curricular (ideally, relevant) activities for yor CV.
7) Some of the societies I mentioned above run investment or stock-pitching programs. It's been a while since I graduated so, honestly, I don't know how these work, but I see them increasingly on CVs.
8) You probably stand a good chance with Consulting so do explore this too
I probably forgot some things so hopefully others add.
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