Answer some quick Q's for a newbie
I will be attending a non-target this coming fall as a freshman. This was the best school I could get into with my current circumstances and I will obviously be trying my best to transfer to a semi-target/target. But in the meanwhile I have so many questions (btw my end goal would be getting an IB job):
Do banks really take kids as interns who have only completed one year in college? I only see myself as having done some introductory econ classes by then...how would I offer anything to an internship position? Do they expect you to have some basic financial knowledge by then? How hard is to get these kinds of positions? I have been told that PWM is the best place for me to probably start next summer.
When should I start searching/applying for internships? I will have a poor network from my current school's alumni base and i'm also located in Los Angeles for now which restricts the amount of places I could probably find an internship
Is it acceptable for my father to reach out for me? He does not work in IB or high finance but he recieved his MBA from Kellogg at Northwestern and has found a lot of local alumni working at the local MS/GS/etc. branches.
I am lost, and I do not really have anybody to help me. ANY input would be greatly appreciated.
1)Banks usually don't take kids with only 1 year of experience. They prefer students entering their senior year.
2)Take more econ and finance classes so you can offer something. Study really hard, every night, and try to learn as much as you can so you can be one of the few kids who do get a banking internship after freshman year. Don't ask for finance book reccomendations, just read them all since you have time as a freshman.
3) of course you need financial knowledge, What's the point in hiring you then? unless they hire you to grab lunch and print copies, you'll need to have marketable skills before anyone hires you. (duhh)
4) Its very tough to get a banking internship after your first year. Mostly because you're probably still an idiot/noob like all the other freshman. So don't be one and get an awesome internship
5) PWM is common and can be a way to get into IB later. You wouldn't stand out much at all though and still need to hustle after. You'll be behind all the kids who got an IB/PE/ER/VC/HF/S&T/MC internship, and there will be more than a few.
6) Start applying as soon as your not a major noob / idiot. When you can actually present yourself and handle tasks professionally. When you know you won't make stupid mistakes in the office. This will take some practice.
7) yes get your dad to network for you. But remember that you need to be actually useful for anyone to consider. Otherwise he's just advertising dead weight for his friends to carry around when working in the office.
8) don't forget to relax. you'll never get your freshman year and give no fucks about anything. You don't know if you want IB for sure yet so it's stupid to corner yourself into right now.
Has anyone ever had success asking their professors for help in networking/using their contacts?
build healthy relationship with your professors as well. They are a valuable source and will provide many advice
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