IB/Equity Research Internship Advice
I'm a sophomore at NYU Stern doing Finance and I'm trying to get an internship in IB or equity research for the summer. Unfortunately, I only have a 3.4 from my freshman year but I did do an internship at a smaller hedge fund last summer. I know my GPA is pretty low for any of the bulge bracket banks, but I honestly just want to get an internship in NYC for the summer to get more experience before recruiting rolls around. Does anyone have any advice on getting internships in these fields/where to apply? Also would it hurt to apply to big banks even with the gpa I have?
Don't try BB banks. Try boutiques or European banks. A 3.4 really isn't that bad since you're a sophomore. The GPA matters the most for recruiting and next year's internship. The bigger problem you face is being a sophomore. The best way to get around that is networking, but most people end up getting weak internships or unpaid gigs sophomore year. It wouldn't hurt to apply anywhere because you can still apply again regardless of whether you've applied there before.
What would constitute a "strong" or "decent" summer experience sophomore year?
There are a LOT of boutiques and MM firms throughout NYC/SF. Is it the bullet points that make the difference? The name?
It's not about the name. It's about the experience and connections you gain. It doesn't take a genius to realize that as an intern you're not going to do much, but it's how you leverage that time. Use it as a building block.
I'd say a solid summer for sophomore year would be either a well-known international bank internship (non-American bank) or a boutique in the sector you want to go into where they let you take the reins and teach you a lot.
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