Gloom and Doom sophomore year SA
So i wanted to run a situation by you guys. I am currently a sophomore at a semi-target top 20 college near boston and am looking to find something for the summer. Ive been rejected from every single BB despite a 3.8 gpa, 3 prior internships (2 in finance) and quantitative coursework. In desperation, I have started carpetbombing mm firms in the boston/nyc areas but so far nothing has come up. Literally, I have made my search into a full time job for the past month, and still nothing has come up.
Is this a clear indication that I am doomed, and that im just at the wrong school? While only a couple IBanks recruit on campus, it seems we have a lot of kids who go in that direction after graduating. If I cannot find something for this summer, is this an indication of what is to come for next summer, which is the crucial junior year summer? Also, how crucial is finding an internship in finance for the summer of sophomore year if i want to get into an internship next summer?
Finding an internship during your sophomore year is NOT crucial at all. It is crucial to find one your junior year.
Now when you say you have 3 prior internships, and you are a sophomore, would you care to clarify that a bit? Were these internships during the school year? Were they during high school? What sort of internships?
Lastly, keeping in mind that junior year is crucial, start networking, especially if not many banks recruit at your school. When I was an undergraduate, on campus recruiting made up most of the summer offers, but those that didn't get an offer through the school, well they networked VERY hard all year long.
Summary: Don't worry about your sophomore internship, most of these are not IB internships, and very few firms even recruit sophomores. Just work on setting yourself up for next year.
Networking is what got me my internship sophomore year.
MOST of the junior-year capital markets interns I worked with did not have a BB internship their sophomore year. I was a programmer at a clearing firm earning $8.50/hour the summer after my sophomore year.
It would be good if you can find something to do this summer that relates to your degree, and it would also be good if you have previous work experience (it doesn't matter whether you worked at the mall or did something spectacular- a hiring manager just wants to know that you can show up to work on time and do your job)
thanks guys for the comments. I was able to get an internship in PWM after high school graduation, an internship in the finance department of a company last summer, and an internship with a hedge fund this past winter break. I know thats pretty insane, but im a workaholic.
I thought my fairly extensive network would get me somewhere for this summer, but even knowing people at UBS IBD couldnt get me into that program, and alums at MS and GS also couldnt pull through. I interviewed with blackrock, but didnt make second round.
Also, can anyone speak to going abroad fall of junior year? I will be in Beijing, so it might be possible to network with any expats over there. Otherwise, Ill miss info sessions and the beginning of application season.
Would it help if I told you most of the companies you mentioned don't usually take sophomores? you should chill-out a bit, being overly aggressive can make the people you are networking with uncomfortable. I'm sure you will do fine junior year, assuming you are keeping a watchful eye on that GPA.
keep in mind that I don't go to a target school, so gaining the extra experience another way i can put myself above the competition.
Study abroad junior year? how does that work with internships?
what did everyone else do the summer after their sophomore years?
You must go to Tufts.
Networking was what got me my internship after sophomore year and I suspect it will be the same for most. Don't feel bad, you'll be find junior year if you keep your stats up.
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