How to best secure a Summer Analyst position in London with no finance/spring weeks?

Hi all,

Currently at a target school in the UK (Oxb,WW,UCL,ICL,LSE) studying a math degree. Applied to many springs this year but have yet to make it very far with any (likely due to failing OT, poor CV/CL, late applications etc). 

I have heard some other opinions about doing a masters to reapply summers but I was thinking if I should maybe make my degree four years in order to apply springs again due to the lack of finance experience on my CV. This is because I heard summers are extremely competitive with the whole of EMEA competing for London mainly hence Springs offering a conversion allows a much better shot at securing a standing FT offer.

I also know extremely minimal amounts of technicals and am very poor on OT (will use jobtestprep), how should I go about learning my technicals/ brushing up CV/CL etc?

How should I best aim to secure a role in IBD at any EB,BB,MM upon graduating my three year degree or should I make it four to apply springs again?

Thanks

Comments (23)

  • Intern in S&T - Other
Jan 5, 2022 - 11:58am

Springs help but you can get summers without springs if you have good experience behind you. Additionally, you can also always say you're *going* to do a masters, and never do, once you get an offer most banks don't really care

Jan 5, 2022 - 12:10pm
Jimmy Lee 2001, what's your opinion? Comment below:

Hi, thanks for replying!

I was thinking of doing this but I found out my uni does not offer a "conversion to 4 year" per se such that I get a four year degree but rather separate 1 year master and 3 year BSc. Would this be fine to put "Intended masters/ Incoming" even though I know I have not got an offer yet?

Yep for sure, however my issue is I have no good experience behind me either.

Jan 5, 2022 - 4:01pm
mBm21, what's your opinion? Comment below:

I wouldn't focus too much on spring weeks.

Try to get an internship at an advisory or PE firm (even very small, doesn't matter). This will bring you more than spring weeks

  • Analyst 1 in S&T - Comm
Jan 5, 2022 - 4:33pm

In terms of experience for the CV this is 100% true. The only advantage of spring weeks which are basically just insight events is that they convert/fast track you to the relevant summer internship in some cases.

Jan 8, 2022 - 5:30pm
Jimmy Lee 2001, what's your opinion? Comment below:

But from the advice in this thread, Im hearing mixed opinions such as percentage of spring to summer conversions being incredibly high. How should I go about securing some other finance interns because I have not yet received a response from about 20 firms I have emailed

Jan 8, 2022 - 2:55am
DanPimental57, what's your opinion? Comment below:

This is an incredible rousing article. I am essentially satisfied with your great work. You put truly supportive data. Keep it up. These options are a notch below the finance ones, but they still beat studying for the CFA or working at Best Buy by a long shot. In this category, you might .

  • Intern in IB-M&A
Jan 8, 2022 - 11:54am

Pretty sure Lazard has actually held 2 Spring Weeks over 2 different weeks giving them a cohort as large as most BBs but with obviously a much smaller Analyst class. 

Jan 8, 2022 - 5:26pm
Jimmy Lee 2001, what's your opinion? Comment below:

I heard mixed opinions but some have said this. In your opinion would it be worth doing Masters/ year abroad/ interrupt purely for this reason alone?

Also, I'm slightly worried if I say "Intended masters" they won't classify that as part of my degree so they'll see me as a 2nd year on a 3 year programme or would this not be an issue?

Jan 8, 2022 - 6:26am
Pan European Monkey, what's your opinion? Comment below:

I got a summer internship without a spring week coming from a target. There are plenty of things to do to build your CV: finance or sports or other societies or other positions of responsibility for colleges, volunteering & charity work, random work experience in anything semi finance related from accounting, PWM, local M&A shops, brokerage etc. 
Basically just do something you can talk about and how that makes you build relevant skills. 

  • Intern in IB - Gen
Jan 8, 2022 - 7:28pm

The best thing I can tell you to do is relax. I say this coming from a very similar situation, and it worked out ok for me in the end. I got a verbal offer for a spring which didn't materialise and I ended up depressed for the better part of a month. I was on it from the get go, prepped/studied hard and yet left with my dick in my hand. What did I do? Reached out to dozens of small shops until I lined up a summer in my first year. Thought this was it, recruiting for second year summers should be ok given the commitments; ended up with 1 interview in the whole process and didn't get anything in the end. At that point I thought fuck it, I'll actually study and enjoy life so I don't have to cram for exams and stress myself out. Got my grades and had fun in the summer break, no banking, no internships, just vibez for 4 whole months; came back to my final year ready to smash it and I've got an internship offer I couldn't be happier with (won't specify for anonymity but I think most people would agree it's a solid shop).

Point is, I didn't do a spring in my first year, didn't do a summer in my second year but I've got a better summer than most final years I know; enjoy uni, stay sane, keep up to date with work, and just relax. Not saying any of this to brag, rather to show you there's more to life; when you are "lucky" enough to get a summer you'll meet enough 23/24 year olds to realise that spending ages 18/19/20 worrying about recruiting is a little narrow.

I'm guessing you're from lse so an alternative for you could be to take a year out (I've heard they're quite lenient with this but idk) between years 2 and 3 and get some work experience in that time period; lots of places take people in this age/experience profile, from boutiques, to PC funds, to PE funds you name it. This way, you don't have to study for an extra year, you can build up a better cv and earn some money.

This was a long post but hopefully it will give some food for thought. Best of luck buddy

Jan 9, 2022 - 3:01pm
Jimmy Lee 2001, what's your opinion? Comment below:

Hey thanks for the detailed reply!

Firstly how'd you know I was at LSE haha. That's super good that you got a grad role! I keep hearing its impossible to get grad roles though so mixed feelings about that path currently but how did you get a summer in your final? I thought summers were for penultiamtes.

I guess LSE is rather lenient with that kind of thing, but any idea on how to secure a placement? Would my best approach be find them on google and cold email them?

  • Intern in IB - Gen
Jan 9, 2022 - 3:50pm

Beatae quo corrupti maxime accusamus sit excepturi sit. Quia ipsum amet voluptatibus nobis. Magni impedit minima ullam expedita eos vero. Consequatur ea sed voluptate vero.

Commodi nesciunt labore repellat. Molestiae officiis et vitae vel repellendus eligendi cupiditate eveniet. Similique nihil ut rem doloremque. Debitis quia qui quos nesciunt ratione dolores.

Vitae nesciunt ea laborum dignissimos. Dolorem eos voluptas temporibus temporibus quia at.

Start Discussion

Career Advancement Opportunities

May 2022 Investment Banking

  • Jefferies & Company (▲03) 99.6%
  • RBC Capital Markets (▲07) 99.2%
  • Bank of America Merrill Lynch (▲02) 98.7%
  • Lincoln International (▽02) 98.3%
  • Houlihan Lokey (▲07) 97.9%

Overall Employee Satisfaction

May 2022 Investment Banking

  • Jefferies & Company (▲12) 99.6%
  • Rothschild (▲02) 99.1%
  • Truist Securities (+ +) 98.7%
  • Greenhill (▲06) 98.3%
  • Houlihan Lokey (▲07) 97.9%

Professional Growth Opportunities

May 2022 Investment Banking

  • Jefferies & Company (▲04) 99.6%
  • Bank of America Merrill Lynch (▲06) 99.2%
  • RBC Capital Markets (▲09) 98.7%
  • Lincoln International (▲02) 98.3%
  • Houlihan Lokey (▲06) 97.9%

Total Avg Compensation

May 2022 Investment Banking

  • Director/MD (9) $661
  • Vice President (36) $393
  • Associates (181) $246
  • 2nd Year Analyst (109) $161
  • 3rd+ Year Analyst (17) $156
  • 1st Year Analyst (349) $148
  • Intern/Summer Associate (74) $147
  • Intern/Summer Analyst (272) $91