Do I have a shot?

What is your major

finance

how did you land interviews with a 3.3?(for internships)

Disclaimer: The post above has been made by someone who is not currently employed in IBD, and has not had an interview yet...

Thanks, streetmonkey. Do you have any suggestions for where to look for internships that aren't with one of the big boys? I'm going to fill out as many of the tops banks' applications as I can, but I assume for smaller firms it's more about sending your resume cold, as they generally do not have structured internship programs (that they advertise or that I could find at least).

Thanks again, and congratulations on your new gig.

Another thing...It's been a while since I've taken accounting/finance, since this semester I haven't taken any business courses. So, although I definitely knew my shit cold several months ago, a lot of it has obviously slipped by now. Should I just read back through my accounting/corporate finance books? Do you recommend any other books for me to read to prepare for some internship interviews?

Once again Streetmonkey's story shows that with hard work you can get into a Bulge bracket, regardless of your background.

Datdude, in reality there are fewer spots available for internships than there are for actual first-year analyst positions. I interviewed at a particular BB in NYC for an internship and was straight up told by HR that had I been from a target school they would have given me a spot. Needless to say I was a bit upset with this policy. They were, however, kind enough to invite me back to a super saturday for a full-time position, but after this initial experience I really wasn't too interested in that particular firm. Ok, back to the point...

As for applying at smaller firms, do send your application out cold...but realize that everyone and their brother is doing the same thing, hoping for something to stick. Distinguish yourself by calling them up to make sure they received it. If you live nearby, see if they would be willing to let you stop by to meet with them informally (lots of times informal sessions can turn into something more). Before you call, however, make sure you have researched both the firm and their particular industry. Have good reasons as to why their sector is of interest to you. These people want to work around others that share the same passions.

As for your finance/accounting skills, you will soon learn that there are several questions that bankers LOVE to ask candidates. "Walk me through the different financial statements and explain to me how they relate to one another." "What are the different ways to value a company?" It would be a good idea to find a common list of these questions and use them as a study guide. I had a good site for this and if I can find it I'll send you the link privately.

Additional reading I would recommend would be "Monkey Business," "The Accidental Investment Banker," and of course the WSJ, Yahoo Finance, etc. The more general knowledge you have about I-banking the more comfortable you will be explaining why you want to be an I-banker during interviews.

mbrandi_784 - thanks for the positive feedback

aspiringmonkey - I landed interviews by doing the things that I am now recommending

hey everyone, i'm new here.

i am a jd/mba student who went straight from undergrad at UCLA to grad school. the only relevant experience i have is at a securities law firm and a bit of finance at a real estate investment firm. i am looking to intern for the upcoming summer at an ib firm in nyc.

my question: whats the word about law-to-ib transitions? anyone out there a jd/mba?

any internship advice much appreciated.

streetmonkey: would you mind sending me that link as well?

thnx

moneymonkey, from what I understand your situation is not all that unusual. It is not uncommon from for those with a law background to transfer into IB...especially if they have worked in something like M&A law. Regardless, I see no reason why you wouldn't be competitive for a position. I'd be happy to send you that link as well.

my concern is not placing myself at a disadvantage by having taken time in grad school and then entering ib in the same entry level position that i would have been able to get straight out of undergrad. i dont want to get stuck on a low percentage path. do you think it would be a greater (financial) payoff to practice banking law first?

anyone know of any firms who like to have jds intern/work there?

thanks for that link, streetmonkey

Of course you have a shot. You've just got to stay focused and like that other guy said, prepare to do A LOT more work than those that goto target schools. I don't goto a target school and I've got a IB job all lined up and on top of that I had 4 other interviews and a 3.5 GPA. Any sane person would rather take someone who shows initiative and hard work than some kid who can regurgitate everything they've memorized in school. And most importantly, have a personality, and be yourself.

I'm a senior at a non-target. I'm planning on going to law school next fall ('07). Does that hurt my chances for a summer spot anywhere, assuming I even make the interview stage? I mean, will any IB firm be willing to give me a shot just for the summer with the knowledge that I won't be continuing after the summer ends? I read somewhere that IBs tend to make offers to many of the summer people for full-time gigs...

To prevent further rambling, I'll end it here for now.

bueller?

streetmonkey you really wowed me! a 3.3GPA and got an internship, i have a 3.45 GPA and was told my GPA was too low to apply for an internship with the Big or Boutique banks. Do you have any recommedation for me? regarding about steps to take? Thanks!

I'm a 3.35 GPA first-year at a somewhat decent college (University of Chicago). I'm thinking of majoring in econ/math, with a public policy or stat major on the side. I'm involved in a finance club (www.chicagobluechips.com), I have a research assistancy with a professor at the grad school of business; what are my chances for an internship position? What is the target GPA range necessary for a student from a comparable school to land an intership?

I'm from a target undergrad school, have a solid GPA, around 3.8, but my major is Biology. Will this be a turnoff for an ibanking internship? Also, should I minor in economics? Thanks!

crzyhr, could you send me a private message with your specific questions and a little more info about yourself? Thanks.

I'm kind of worried about the GPA thing too. Does having a 3.2/3.3 from a target school basically mean I won't get selected for any interviews? I think I have pretty decent work experience and activities and my major GPAs are above 3.5, but I'm starting to think they're just going to throw my resume out the second they see it.