Sophomore year internships at boutique investment banks tend to make attractive additions to resumes and are, for the most part, readily available. As the majority of positions do not have formal applications processes, cold-emailing senior bankers at firms in your desired area is your best bet of landing one.

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Thanks for your response, I appreciate it! In general, are these informal underclassman internships paid or unpaid?

Also, when’s a good time to start cold emailing? A year in advance?

 
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I would like to think any respectable firm can afford to pay their intern(s) a baseline of at least $10-15/hr. Several of my peers were offered compensation in the form of a summer stipend instead (forget how much exactly). While sophomore year internships should be treated as learning opportunities, I would be hesitant to accept an unpaid offer. In terms of cold email timing, the earlier the better. While a year in advance may seem premature, you have nothing to lose by doing so. I personally began reaching out to firms about 9 months earlier in October/November with a June start date in mind.

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