Introduction

Welcome, Sean!

Based on the most helpful WSO content, here are some key steps and tips to help you break into Investment Banking (IB) and secure a summer internship:

Key Steps:

1. Networking:

   • Leverage LinkedIn: Join the WSO LinkedIn group where many members are willing to connect and help each other out. Networking is crucial in IB.
   • Spring Break Networking: Use your spring break to actively start networking. Reach out to alumni, attend industry events, and connect with professionals in the field.

2. Skill Development:

   • Financial Modeling Courses: Take modeling courses to build and understand financial models. This is essential for IB roles.
   • Excel Proficiency: Learn Excel functions and shortcuts. This will be invaluable in your day-to-day tasks in IB.

3. Academic Preparation:

   • Finance Classes: Ensure you have taken at least two finance classes by your junior year. This will provide the basic background needed for financial modeling.
   • Supplement with Reading: Read up on financial concepts such as the three financial statements, time value of money, net present value (NPV), CAPM, capital structures, WACC, and FCFF vs. FCFE.

4. Internship Experience:

   • Local Internships: Even if the internship is not flashy, any experience in the Finance/Accounting division can be valuable. For example, a small intern role at a local F500 company can still provide relevant experience.
   • Apply Early: Start applying to banks for their summer analyst (SA) internships early. This will increase your chances of securing a position.

Additional Tips:

• Join Clubs: Being active in finance-related clubs at your university can help build your resume and provide networking opportunities.
• Resume Review: Consider getting your resume reviewed by professionals or peers who have experience in IB to ensure it stands out.

Good luck, Sean! With dedication and the right strategy, you'll be well on your way to landing that summer internship and breaking into IB. If you have any specific questions or need further advice, feel free to ask!

Sources: Lehigh or Pepperdine for IB? Tips for a freshman?, To All Freshman and Sophomores, Q&A: From State School to IBD to MM PE, Advice For Sophomore Summer Internship, Non-Target to MM IB: My Advice