IBD SA after graduation

What are the odds of a semi-target (Durham, Bath, Bristol type) student securing a SA in IBD the summer after graduating from an undergraduate degree in the UK? Have done a 1-year industrial placement in equity research. What things can be done to boost chances in this case? BB is probably out of the question so any other advice would be greatly appreciated. 

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To help answer this, do you mean the Summer 1-year post graduation (i.e. graduate July 2022, want internship Summer 2023)? If so, you are better applying to off-cycles as they are more accommodating of/geared at students who have graduated already, and they tend to convert straight into full time roles afterwards (provided you perform well, business needs are there etc). Depending on where you did your placement year you should have some decent leverage, however the focus for you should be on making sure your technicals are nailed, as off-cycle interviews *can* be slightly more difficult as they skew towards people with relevant experience already, as well as there usually being a smaller number of spots available. You can definitely try to apply to summers and it won't hurt (as I will explain later on), but if you are able to I would try applying for a finance-related masters at a target/strong semi-target to be able to have an 'extra shot' at recruiting, as you will then be more eligible to apply.

Also, your CV really needs to be perfect, in terms of formatting, highlighting your work experience adequately and ensuring that you have as much IB-related (in terms of skills overlap, e.g. Excel/PPT, valuation, accounting, certain university modules studied) job and educational experiences there to highlight yourself as a strong candidate (and possibly overlook the graduation date issue). Lastly, it would also be good to have your 'story' nailed down, e.g. why Investment Banking/why did you not pursue it earlier etc. Some firms like CS/DB offer final year internships for students in your position, so it's worth taking a look into that. I wouldn't look at the kind of firm (BB/EB/MM...) and just focus on casting your net out far and wide, as honestly you'd be surprised at what might become available to you - from experience, I have seen that some of the BB's can actually be a lot more flexible with these things than you think, provided you're a good candidate and sell your story well. As suitable backups, I would apply for jobs/internships in related roles such as AM, Big 4 Valuations/M&A/Strategy Consulting, Corporate Banking at a variety of firms in case all else fails, and you could try and lateral into IB a year or two down the line. I also wouldn't worry about the uni (I'm guessing Bath) - there are plenty of people from these unis in IB, which is helped by having a strong profile overall, applying on time, nailing interviews etc.

I hope that was helpful for you!

 

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