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Bit early for freshman internships. These are usually very casual and happen in the winter/early spring.
You should target small boutiques - tiny, 10-man IB/PE shops ideally, also local branches of BB wealth management - and approach it from "I'm trying to learn about finance, would you be willing to let me help out as an intern this summer?" They know you don't really have business skills/experience yet so don't try and "spin" random experience too much
winter/early spring as in when one would start applying? Any negatives to applying/emailing now? Or is that not even possible? And also, should I be expecting any pay as an intern to this degree or what?
Lastly, with your comment on most people not having relevant business experience. I co-founded an online software rental company. did $200k lifetime sales, 29,000 members in our group, 136 partnerships, I was head of 40~ staff members, etc. Would experience like that leverage me into more opportunities as a freshman and I should most definitely use that right? (Don’t take it in a boasting way whatsoever, I was just providing context of my situation)
Yep applying/emailing. It's just too early for these little places to start now, you haven't even started college yet and they'll just tell you to come back in a few months - it's a very different world from BB land where everything is done a year in advance. Spend this time focusing on your classes, getting good involvement early and enjoying your first year of school.
Definitely put that experience/stats on your resume and can talk about it all the way to BB interviews. It should help to have that but freshman internships are a total crapshoot anyway.
One idea to get places is to LinkedIn stalk upperclassmen/recent alums from your school and see where they did freshman internships. That at least gives you a list of places that are open to freshmen - some may have been through personal connections but it's a good list to start from.
UT student here.
I’d agree that it’s a bit early to be applying for internships, especially given you haven’t even started your freshman year.
Best advice is to stalk people’s LinkedIn profiles to see where they interned as freshmen. A lot of kids will intern at local boutique banks (Navidar, Fortitude Advisors, and Focus Strategies come to mind). Idk if these are paid, but kids do them during the school year and as summer internships.
Search funds are super popular too. They’re really easy work but usually unpaid.
I’d recommend applying for finance career prep orgs like USIT SCG, TUIT type orgs. Again, stalk LinkedIn and find similar orgs. There are like 5 sweaty finance orgs that feed well into the banking programs. Just plugging yourself into the finance scene here will help a lot.
with the specific local companies you mentioned, would that be austin ones only? My family is in Dallas, so obviously I would want to go back to Dallas during the summer as living would be free and family is there yeah? I also created a new post specifically about all the clubs/programs in UT relating to IB, so if you don’t mind could you check that out?
Thanks!
Yeah those three banks are all Austin based. Like I said, a lot of kids intern there during the school year, so that's how I'm mostly familiar with them.
I don't know of any banks in Dallas that take freshmen for internships, but I'm sure if you dig and ask around that there are some small boutiques. Dallas is more of a private equity/hedge fund city, and I know for a fact that many firms there will take freshmen. Can't name them because there are so many. They'll post listings on Handshake and Recruit McCombs and LinkedIn, so I'd just look there. Also helps to network.
I'll check out the org post you made.
and in regards to the LinkedIn search. Any specific ways that make tasks like this much easier with filtering? Or just search “ut mccombs investment banking” in the search bar and scroll through people?
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