How Many Banks Should I apply to?
Sophomore looking to apply for junior year internship here. In reality, how many banks should I network for and apply to? I don't want to spread myself too thin, but would only applying to BBs be too risky? (At a target right now, have finance internship experience)
Applying to all of the major ones doesn’t hurt.
Honestly, he's already fucked.
?? I'm a rising sophomore
Again, you're fucked.
Apply everywhere
agree - you never know where you can get an offer
Apply to as many as you can/have time for. No reason not to gather as many options as possible. Also, some firms that you initially aren’t as interested in may surprise you. The firm that I am going to was not one of my top choices but they completely won me over after I interviewed so don’t count anyone out
If either option 1 or 2 don’t work for you, then I would look at smaller boutiques and cold emailing those
Network with the banks that recruit at your school, as well as the banks where your alumni are most concentrated. If you want to cast a wide net, network with 2-3 people (doesn’t necessarily have to be alumni) at other banks. The more conversations you have, the more comfortable you’ll be in interviews so it doesn’t hurt you to do a little bit more networking. You’re at a target, so I would hit the EB/BB/MM that recruit at your school, as well as a couple BB/MM that might not recruit on campus.
Apply to as many places as you can, without this impeding on the quality of your application. I've made the mistake of applying to ALL and EVERY place, this isn't good. You've got a far better chance if you're well researched about few banks specifically and show you want THEM. I'd also recommend mixing BB and other banks, if this suits you and your plans/preferences.
All of them
I would apply to as many places as you can effectively network with and places you’d be ok working at, better to cast a wide net. Even if you’re at a target, there are plenty of Tier 2 and 3 banks that may be on your list, but you very well might not get even an interview with them if they don’t recruit on campus.
The applications are pretty much the same for everyone, same resume, few firms requiring a cover letter. Apart from info sessions (which are unlikely to happen in person this year), networking isn’t all that time consuming. We’re talking about speaking to 2-4 people per bank for 30 mins each over the course of almost a year.
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