Last semester, I decided to take two notoriously hard classes, which I ended up getting C's in. This dropped my cumulative GPA to a 3.3 from a 3.6. I was devastated. I'm currently in my 2nd semester of sophomore year and am currently searching for a PWM internship back home and preparing for junior year internships. Assuming I improve my GPA to a ~3.4 this semester, will I still be looked at? I could probably get it to around a 3.5 come 2nd semester of Junior year, but that might be too late.
More info: I go to a target where many banks recruit at and I am a URM. I'm worried because even the URM programs require ~3.5 GPAs to apply (Not downplaying these programs, but they seem like they'd be marginally more lenient).
Another question: If I am rejected from all sophomore year BB internships, what options would I have? Would it be too late to switch into consulting?
PWM is worthless anyway.. Try to shoot for middle market and boutique ibanks and asset management.
Don't listen to LingLing (probably an uninformed azn college kid). No idea what he's talking about. If PWM is where you want to be, then shoot for it. The path offers a great lifestyle once you get some clients. Realize you will be competing against kids who took those hard classes and received A's. Get that GPA up, but you need to network.
It wasn't too long ago I graduated from undergrad and you were way ahead of the game if you had any sort of internship your sophomore summer. From my experience, if you had anything of substance you were ahead of the pack. The important thing was that you had SOMETHING and that YOU WORKED FOR IT, not some BS where your family hooks you up with something back home.
So, first things first, take care of that.
Second, on grades. I would beat the shit out of this semester. Hopefully you didn't screw yourself again doubling up on hard classes. Get a 3.8 or higher. Then, take one to two classes on-line this summer, if it is at all possible. I did this during my sophomore summer while I had an internship. I was able to take classes at the local college and it transferred back to school - this will help. Then, pad your first semester junior year. Get a 3.8 or above.
If you can execute on the following, you should have a.) an internship and b.) g.p.a at or slightly above a 3.5. Then, you go into interviews and say I busted my tail to get a good internship on my own. I have a 3.5 g.p.a. (a lot of times the cut off) and explain that you had one bad semester, you learned from it, and have rebounded. Then, you should be ok. All is not lost!
And, oh yes, I would network your tail off starting RIGHT NOW for junior summer internships. I did BB I-banking, I went out to NYC the summer after my sophomore year and met guys for coffee...Sounds dumb, but come offer time, I didn't have a problem and already knew people interviewing me.
retake over spring / summer.
Nothing is ever impossible. I come from a non-target as well with a sub-3.5 GPA and no banking internships and was able to secure a FT offer from a solid MM IB. The key....Network, Network, Network. Happy to help you out if you need some advice, feel free to PM
OP, i know lots of non-target kids with 3.0's who got into PWM internships. you should be fine, keep networking
Pike, would love to hear your story
I'm aiming for a MM-BB IBD for my junior year internship, but I just thought I'd get a PWM internship in the meantime for my sophomore summer. I'm pretty sure I can manage a 3.5 come Junior Fall (after all I read somewhere that you can round up by .09. If I live in CA, how would I start the networking process? Is networking over the summer really necessary if banks come to my school to recruit/interview?
I'm aiming for a MM-BB IBD for my junior year internship next year, but I just thought I'd get a PWM internship in the meantime for my sophomore summer. I contacted many botiques in southern California, but none returned an answer, so I decided to try getting a PWM internship instead. I'm pretty sure I can manage a 3.5 come Junior Fall (after all I read somewhere that you can round up by .09. If I live in CA, how would I start the networking process? Is networking over the summer really necessary if banks come to my school to recruit/interview?
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