I decided pretty late that I wanted to go into finance (still not convinced, thoughts of Economics PhD swirling around -- the field is so interesting, and I'm not sure if finance/banking/private equity is perfect for me), and realized even later that everybody around me was getting summer internships. Since then, I have dropped my resume/cover letter 40+ times, made 20+ e-mails and 20+ calls, and still nothing. I have a good not great GPA (3.6) at a target school, have some relevant extra-curricular experience, and am in a selective finance program. I'm a poor networker and have not shone in interviews thus far. I'm a sophomore, finance world aspirations of BB IBD --> MBA --> PE. If I can't secure anything through cold-calling and e-mailing, is taking 2 classes and self-teaching Rosenbaum/Pearl's Investment Banking a good use of my summer? Obviously, experience would be nice, but at this point it looks bleak.
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Wait, you're a sophomore?
It's time to ramp up those calls and emails. Try to offer to work unpaid during the summer.
Good luck.
Yeah -- sophomore. Still making as many calls and e-mails as possible, but I think I've nearly exhausted all the boutique IBs in Chicago. Anything left to say once they say they're not looking for an intern other than offer unpaid?
Best of luck!
I agree with all of your advice. The big one being that 40+ is so low for e-mails. I sent out well over 1000 in the FT recruitment process, although I believe less than 2000. And people told me they knew people who had done much more. Remember to follow up on the e-mails (don't just send them to one person at each firm and don't just send them once to each person--although remember to wait a bit before reaching back out, people are busy).
Also CorpFinHopeful, what is RM? I can't find it on the list of industry codes and see it around a good deal.
Risk Management, if you mouse over any of the industry codes, it will show you the exact title the person has selected.
What is the preferred way to follow up on an e-mail? Forward the e-mail I previously sent and say something like Just following up, could you spare a few minutes yada yada or just a whole new e-mail and mention that I previously e-mailed? Don't mean to sound ignorant, just new to networking and don't want to come off as rude to contacts.
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