Should I be recruiting for full-time or summer internships?
Hi guys, my college story is unorthodox but I am now at NYU after transferring from Rutgers and I graduate December 2024 or if I want, I can push back to May 2025 but I would ideally like to graduate December 2024.
Also, I am in talks with two banks for this summer but none are guaranteed so I am still under the impression that I have nothing right now. Ive done a CB internship at a BB, another at a small PE company, and now at a renewable energy/commodity trading firm.
Knowing this, I am confused on whether I should be trying to recruit for full-time or summer internships for when I graduate. What should be my game-plan here? ALSO, if anyone knows places to find investment banking Co-ops either in the US or Europe, that would be pretty great!
This is not that unorthodox. For both Dec 24/May 25 you are looking at FT 2025 roles which will recruit later this summer (need to network prior)
You are not eligible for SA25 as you will have already graduated
I'd focus on internships. You are at NYU, and in NY - I get it's late for big companies but you should be able to find something small for this summer
If you already have an offer for SA 24 and are looking at FT recruiting, would you recommend networking before the summer, during, or after your offer? The first two options don't make sense IMO but what do you think?
3ish weeks into your internship. That way it looks like you gave it a chance, decided it wasn't right, and are thinking about options
FT recruiting will start the second offers go out (and really at my firm they are doing pre-interview interviews the week before) so you need to network prior to your internship ending
See with this I just don't understand how I can do this while also doing my internship. It comes off very suspect when you ask to leave early or do a 30-minute call in the middle of the day. I did IB last summer as well and I saw first-hand that the people who did this didn't end up getting the offer. Do you recommend I schedule these calls late at night (bc weekends aren't an option) and how do I make sure no one tips off my firm? If I send out these as "networking/informational" calls – isn't it pretty obvious what I am doing?
What if I schedule send a shit ton of emails for right after I get my offer? Would the two weeks between offer received and when it expires be enough?
Lunchtime, 5-6pm ish and if you WFH Fridays. Definitely no late nights
Yeah FT is dangerous in this way, you are risking it
You can try after internship is over but that is basically when you should be superdaying, not begging people to talk on the phone
Got it, I'll play it by ear then. Thanks for all the help!
Based on the most helpful WSO content and insights from previous threads, your situation indeed presents a unique challenge but also a great opportunity to strategically plan your next steps. Given your graduation timeline of December 2024 or potentially May 2025, and your current status of being in talks with banks for the summer but without a confirmed position, here's a tailored game-plan:
Summer Internship Focus: Given your graduation timeline, aiming for a summer internship for the upcoming summer makes sense. This is especially true since you're still in school and have the flexibility to extend your graduation if needed. Summer internships are crucial stepping stones in the finance industry, particularly in investment banking, and securing one could significantly enhance your full-time job prospects upon graduation.
Leverage Previous Experience: You've accumulated a diverse set of experiences across commercial banking (CB) at a bulge bracket (BB), a small private equity (PE) firm, and a renewable energy/commodity trading firm. This diverse background is a strong selling point. When networking or interviewing, highlight the skills and insights you've gained from these experiences and how they make you a well-rounded candidate for investment banking.
Networking and Recruiting Strategy:
Consider Co-ops and Off-Cycle Internships: Given your interest in co-ops in the US or Europe, these can be excellent opportunities to gain more hands-on experience, especially if you decide to extend your graduation to May 2025. Off-cycle internships or co-ops during the fall or spring can offer experiences that are just as valuable as summer internships, sometimes with less competition.
Decision on Graduation: If you secure a summer internship that could lead to a full-time offer, graduating in December 2024 might be the best path. However, if you feel additional time to recruit or gain more experience would be beneficial, pushing back to May 2025 could provide that flexibility.
In summary, focus on securing a summer internship while keeping an open mind about full-time opportunities. Use your unique background to your advantage in networking and applications, and don't hesitate to explore off-cycle opportunities if they arise. Remember, the finance recruiting timeline can be quite rigid, but with your diverse experiences and strategic networking, you're well-positioned to navigate it successfully.
Sources: Should I Slow Down?, Full Time Recruiting outlook for 2021, How hard is full time recruiting with a solid SA beforehand?, Re-recruiting for full time senior year, Full Time Recruiting
Based on the most helpful WSO content and insights from previous threads, your situation indeed presents a unique challenge but also a great opportunity to strategically plan your next steps. Given your graduation timeline and previous internship experiences, here's a tailored game-plan for you:
Assess Your Graduation Date Flexibility: Since you have the option to graduate in December 2024 or push back to May 2025, consider the latter if it gives you a better shot at securing a summer internship in 2024. Summer internships are crucial stepping stones for full-time offers in investment banking (IB).
Summer Internship Priority: Given your current status and the fact that you're still in talks with two banks for this summer, prioritize securing a summer internship. IB firms heavily favor candidates who have completed summer internships, especially for full-time roles. Your background in commercial banking (CB) at a bulge bracket (BB), a small private equity (PE) firm, and a renewable energy/commodity trading firm provides a solid foundation. Leverage this diverse experience in your applications and interviews.
Networking and Continuous Recruitment: Start or intensify your networking efforts immediately. Reach out to alumni from NYU and Rutgers working in IB, especially those in firms you're interested in. Given your unique journey and experiences, your story could be quite compelling. Networking can also open doors to off-cycle internships or co-op opportunities, which are valuable if summer internships don't materialize.
Consider Off-Cycle Internships or Co-ops: For co-op opportunities in the US or Europe, utilize the WSO job board, LinkedIn, and your university's career services. Off-cycle internships or co-ops can be an excellent way to gain more relevant experience, especially in IB, and sometimes lead to full-time offers.
Full-Time Recruiting as a Backup: If you secure a summer internship in 2024 and perform well, you could receive a full-time offer for post-graduation. However, if you decide to graduate in December 2024 and haven't secured a summer internship, begin preparing for full-time recruiting in early 2024. Use your network, the WSO job board, and university resources to identify full-time opportunities.
Leverage Your Unique Story: Your unorthodox college journey and diverse internship experiences are assets. Craft your narrative to highlight your adaptability, diverse skill set, and keen interest in IB. This can set you apart during networking and interviews.
Remember, the IB recruiting landscape is highly competitive and fast-paced. Starting your preparation and networking efforts early can significantly increase your chances of success. Keep an eye on the WSO job board and engage actively in the WSO forums for insights, advice, and potential leads on co-op and full-time opportunities.
Sources: Should I Slow Down?, Full Time Recruiting outlook for 2021, Re-recruiting for full time senior year, How hard is full time recruiting with a solid SA beforehand?, IB Full Time Recruiting (Summer 2023 Start)
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