Summer 2016 internships
Hi, I am a rising college sophomore at a non target school (Good LAC). I am extremely interested in finance and investment banking in particular, however I am lost in the recruitment process for summer analyst positions. Are you supposed to just apply online,or does it have to be through your school? My gpa is only a 3.5, is that high enough to get an interview without connections? If not what is a good summer internship to get this year that is easier to get, but will provide me with a good background in the financial field? I forgot to include that I have no prior finance experience. I appreciate any commentary with regards to this topic. Thanks
I'm in a similar situation but having been able to hear from various analysts/associates and campus recruiters I think there is a bit I can say. But with that said, I haven't personally been through the recruiting process so take this with a grain of salt.
For the most part, just applying online won't cut it. If you're applying to a local firm, they will hopefully have some OCR events which you should be going to. Your school should have postings so for the firms that have OCR you should be applying through the school, and obviously you apply online for firms that don't have OCR. Exception: if you're applying to a firm with OCR but for a different office, this would be online for most firms I've heard from.
Your GPA is good enough to get your foot in the door IF you had connections (even if they aren't the strongest). IB for the most part don't recruit sophomore interns purely because you are sophomores unless you really standout. And by standout, I mean 3.8+ GPA and some insane club involvement (obviously there are exceptions, family connections usually trump everything). In lieu of either the top class marks or solid connections IB is likely out of the question but you can get other internships in easier fields. To set you up for junior summer recruitment you could either go to work for a big name or in a relevant position; any finance role at an F500, ops at at bank, even accounting would be valuable.
Just my two cents... hope it helps (also would like to hear from anyone else who's got more experience than I do).
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