How to go about sending open/prospective/cold applications for internships?

So...

The 2020 SA Recruiting Season is not technically over but it is pretty much over in all but name. I didn't make the best effort to get into a role and the roles I did make an effort for didn't yield much fruit. Currently I'm on a placement year (3rd out of 4 years) (till June/July 2020) doing FoF at a mid sized PB/AM. 2020 Summer is thus my last chance to get a summer internship, unless I get a Masters which I don't really want to do. My actual focus is not IBD or S&T but more towards ER, WM or AM. Since FoF is very much a dying industry with a niche skillset, I don't think my experience here will help too much with later recruiting, hence wanting a back to back summer internship.

Since most large firms have finished their recruiting now, I'm looking towards trying to get a place at smaller or non-advertising investment firms that I can hopefully get some proper equities/fixed income experience (not too bothered either way, I'm an econ student so either suits me and I'm after the core skills really).

How can I go about sending open/prospective applications to companies who haven't advertised that they're hiring an intern? Should you network first? Just send cold? How would you do a cover letter? Is this even a viable plan?

Any advice is welcome

3 Comments
 

Porro eius rerum amet quaerat porro atque adipisci. Dolor vitae eos voluptatum et exercitationem voluptate. Omnis quo sapiente aut ipsa. Sunt iste sit ut labore in.

Voluptatem ut voluptatem ipsam dolorem. Et omnis dolorem dolore voluptates. Quidem sint ex minus aut nulla. Vero aut placeat rerum facilis et.

Odio saepe impedit deserunt in. Aut fugiat aut a ipsum. Alias sequi vitae ducimus delectus accusantium quas et. Aut cum id natus amet voluptatem doloribus. Non iste atque amet.

Distinctio recusandae vel ullam eveniet numquam commodi. Sequi accusantium mollitia ut aliquam. Quos quidem rerum rerum.

Buying tesla weeklies is literally free money.

Career Advancement Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

July 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.9%
  • Morgan Stanley 01 98.3%
  • BMO Capital Markets 12 97.7%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.3%
  • Goldman Sachs 01 97.7%
  • JPMorgan 01 97.1%

Total Avg Compensation

July 2026 Investment Banking

  • Vice President (15) $434
  • Associates (46) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (79) $150
  • Intern/Summer Analyst (73) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
dosk17's picture
dosk17
98.9
6
Betsy Massar's picture
Betsy Massar
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”