What sort of experience are investment banks looking for in SW & SA CV’s?
I’m a first year university student who’s currently taking a year gap in order to gain further experience within the industry as I’m lacking it. I have secured an unpaid internship at a search fund but I know I will need something more than just this. However I am struggling to figure out what kind of experience banks want to see and gives me the best chances on a CV for both SW and SA roles. I have also been looking at trying to see whether I can use my experience at the search fund to apply to other opportunities in a few months time. Therefore I’m trying to figure out what sort of experience is most useful (eg. ib, pe, hf, am, pwm, search fund/startup, accounting/audit etc.) for recruiting. Thus letting me figure out what sectors and types of firms I need to try and target to get more experience in.
Also I’m also looking for any guidance as to what types of skills from the search fund are most applicable to any of those industries as I’ve tried researching the skills in all those jobs but am struggling to see how what I’ll be doing at the search fund will help in them.
I think you need to take a step back and decide where you want to be (e.g. IB, Accounting, HF) and starting from there - take a breath.
Now, I think IB and Accounting are the industries with large intakes and where you might be better-positioned, although my counterparts on the more markets side should chime in.
Candidly, at such a young age, any experience which is finance-related or entrepreneurial is useful. Your search fund will help. In your CV, draw out those transferable skills like financial statement analysis, due diligence, and valuation. These should be generally applicable to the other industries that you mentioned. The standard route into IB would be Spring Week >> Internships >> FT role. It sounds like you don't have a spring week. That's manageable. I don't think you "needed" to take a gap year, but since you've taken it, and assuming that you want to enter IB, you could:
(1) Apply for spring weeks - you'll now be graduating in 2026, correct? So this should work
(2) Look for off-cycle internships. a number of PEs, IBs, and even hedge funds offer this (often you will need to proactively reach out and network a bit with smaller shops to find these opportunities. You will face a lot of rejections or ghosting. That's normal
(3) Try something entrepreneurial. Buy some stuff on Alibaba and sell it on a Shopify store or whatever. Or start a YouTube channel reviewing, I don't know, food markets or video games. It doesn't need to be successful. If it was sensible and you can spin it correctly on your CV, it'll stand out.
(4) Apply for internships. No reason not too (unless it conflicts with your spring week applications). Have a backup by applying to audit roles or anything else less competitive. Some experience is better than no experience, especially with a good brand.
(5) Get some university leadership roles - it depends on you gap year arrangements, but if you can do anything this year or arrange anything for next year, that will be additive.
Just some ideas
Firstly thanks for taking the time to provide me with such a detailed response it’s incredibly helpful. I go to a semi target but have no real finance experience and missed out on Springs. Also with Summer Analyst positions already opening up, I feel I have virtually no chance of getting in this year hence the gap year. I’m interested why you think I didn’t necessarily need to take it?
A question about the off-cycle internships should I apply to the larger tier IB and PE firms like Morgan Stanley, Blackstone, PIMCO etc. or should I try to apply to much smaller and less recognised Boutiques. Apologies if this is a stupid question but what’s the difference between points 2 and 4?
You don't "need" a spring week to get into IB. It helps enormously, but it isn't a mandatory pre-requisite. Neither have you missed out on Summer Analyst applications - they've opened but you still have a couple of months. On the other hand the cost in pure cash flow from taking a year out (unless you have good financial backing) and in opportunity cost from a year less of graduate working (not to mention now being a year behind your friends from first year, which for me would've been tough) seems large. Contrary to popular belief, you don't "need" to work in GS / MS / JPM to be happy, and finding a role at a MM or Tier 2 / 3 bank or Big 4 is still a good outcome in life in general.
On your second question, why is it mutually exclusive? There's no reason why you shouldn't apply to both. If you did have only 10 applications you could send, I'd lean towards smaller places as you're at a semi-target and don't have experience, but as you have a gap year, you shouldn't be too time-constrained, and the appilications are absolutely free of charge, so apply everywhere. There's no excuse not to.
Oh I'm sorry it wasn't clear - I meant "off-cycle" specifically in (2), and I meant more typically Summer Analyst roles in (4)
Harum dolorum sunt nobis et debitis doloremque maiores non. Qui sapiente eligendi sunt esse et officia est. Id quo fugiat qui omnis assumenda omnis. Ea totam sit qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...