Do D3 Athlete Have a "Pass" to not do Fall/Spring IB/PE Internship?

Current incoming sophomore at D3 semi-target (e.g., Emory, WashU, Middlebury). I'm an athlete and am wondering if the same rules apply for having a semester of IB/PE internship experience before IB recruiting kicks off. It seems to be really pushing the envelope to be taking rigorous courses, being an athlete, and managing an IB job for 20-30hrs/wk. Are regional firms understanding (i.e., allow you to do 10-20hrs/wk)? From an interviewer/recruiter perspective, would you care? Seems like nowadays everyone is screaming that 2-3 relevant finance internships are needed prior to recruiting, let alone 1. If I was able to land strong finance internship for next summer, would this offset the lack of Fall/Spring IB/PE internship(s)?. Any advice related to how IB recruiting works for athletes would be greatly beneficial. I'm targeting RX banking, which tends to be more technical and demanding of strong credit related internship on resume, so insight on RX recruiting would also be greatly appreciated. 

Comments (25)

Jul 25, 2022 - 4:46pm
iamjustabananana, what's your opinion? Comment below:

I sympathize with athletes- and there are quite a ton at every shop across the street.

But looks at it from the interviewers perspective. To your point internships have been increasingly competitive with accelerated processes. Why would a shop take someone who can only commit 10-20hrs (who most likely will be looking to leave) amongst other factors.

  • Prospect in IB - Gen
Jul 25, 2022 - 4:50pm

Think we may be on different pages here. Wasn't necessarily concerned about obtaining an internship (although that's a beast in and of its own), but moreso looking at the difference b/w having and not having a boutique IB internship during the Fall/Spring from the perspective of an interviewer at a BB/EB/MM IB during normal recruiting (given that I'm an athlete).

Jul 25, 2022 - 4:53pm
iamjustabananana, what's your opinion? Comment below:

Apologies. Then you already know the answer- obviously it will depend on the interviewer (at least for the SD).

Real question is: will your resume even get flagged/past the preliminary rounds with your competitors having those fall resumes? Literal lottery/networking game at that point

  • Prospect in IB - Gen
Jul 25, 2022 - 5:18pm

Lumped the 3 together for a reason (anonymity) lmfaooo if I wanted to share I would've just put which one of the three.

Jul 25, 2022 - 4:59pm
gh0stmango, what's your opinion? Comment below:

Personally don't think you really need a school year internship for SA recruiting especially since you're an athlete and can point to things you're doing during that time, esp for something like swimming that takes a ton of time for example.

  • Analyst 1 in IB - Cov
Jul 25, 2022 - 5:11pm

Had 2 pretty bs PE/IB internships during sophomore year but I think it helped because my freshman year internship wasn't as relevant (more general finance) and I came from a semi-target similar to yours. Combined probably

  • Prospect in IB - Gen
Jul 25, 2022 - 5:17pm

Think it cut off. What were you trying to say at the end? Also, for your IB/PE internships, did you go through the standard process of emailing local boutique shops and hoping to get lucky? Any advice on the networking process (i.e., should you ask if there's any internship positions available right away, or try to foster a relationship first; should you scout on LinkedIn to see firms that have accepted Fall/Spring internships previously; what should your value proposition be: administrative work, deal work, research work, etc.?) Any insight is appreciated. 

  • Analyst 1 in IB - Cov
Jul 25, 2022 - 5:41pm

You're right, I updated it. Yeah basically just sprayed and prayed, sent out like 300 cold emails. Both internships ended up being remote.

I emailed about wanting to hop on the phone to learned more but would always mention I was interested in a possible unpaid internship in my first email because I didn't really want to waste my time.

Value prop was 1) I'll do it unpaid and 2) I'll do the bitch work. Not much more you can offer as a first/second year in college.

  • Intern in IB-M&A
Jul 25, 2022 - 5:26pm

I know its hard but think about it like this. Having athletics+a business major is basically as much work as being a hard STEM major. Many engineering majors do CO-OPs and other internships during the semester. That said there should be some shops that allow you to intern for 10-20 hours/week and I'm sure that's the standard for search funds

Jul 25, 2022 - 9:28pm
big monkey feet, what's your opinion? Comment below:

What sport do you play? I'm not in college yet but will most likely play football at a high academic D3. The people I've talked to that are on the football team have said that football doesn't interfere with internships. Is this true?

  • Prospect in IB - Gen
Jul 25, 2022 - 9:43pm

Think T&F/swimming/diving

  • Prospect in IB - Gen
Jul 25, 2022 - 10:19pm

Athlete at a similar level school. Got BB internship for SA 2023 with no spring/fall internships, albeit strong GPA, extracurriculars, and 2 prior summer internships (F500 FP&A). I know many students on my team who were in the same boat and are now at EBs and BBs. Banks tend to favor athletes, especially if you're lucky enough to get an athlete interviewer.

  • Prospect in IB - Gen
Jul 26, 2022 - 5:16am

Super helpful - thanks for reply. In a similar boat with strong (~3.8) GPA & extracurriculars ('premier' student-run investment group on campus & helped start/lead pseudo-business club), but did consulting internship (with a very recognizable firm) that's completely unrelated to finance. Although I have a strong narrative and "why" behind why I picked consulting this summer, do you think it's still necessary to have a finance related internship as relevant, completed experience before recruiting kicks off, or will an incoming sophomore position on the resume that's finance-related be sufficient?

Most Helpful
  • Prospect in IB - Gen
Jul 26, 2022 - 9:05am

With a good incoming sophomore SA position it seems like you will have a very strong resume. Obviously having a good resume will not get you a job, but it certainly will make alumni or other connections more likely to help you out assuming you can do well on networking calls. In terms of your consulting internship, brand name carries a lot of weight, so if it is really recognizable you will have a leg up as a freshman internship. Just prepare an answer as to why you decided that you wanted to transition to banking after getting the consulting experience.

  • Analyst 1 in CorpFin
Jul 26, 2022 - 11:55am

I got an analyst 1 role without any prior banking internship. Went to a west coast semi-target and worked a year prior to joining at a large tech company.

As long as you start making connections and you're extremely diligent about preparing you can easily get an offer. Obviously the Econ isn't doing great right now so chances may be lower now than before but it's very possible. Anyone on this forum or elsewhere that demands otherwise otherwise is either antiquated or just can't fathom that a banking internship is not correlated with junior level performance

  • Incoming Analyst in AM - Equities
Jul 26, 2022 - 1:45pm

D3 at school around the same tier. Network like hell. Altho I didn't end up choosing IB everyone who broke into IB as an athlete networked non-stop. 

Jul 28, 2022 - 9:50am
anonobear, what's your opinion? Comment below:

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