Current Juniors in University
What should Junior/Sophomore student in college be doing to weather pandemic? Anyone in this situation too?
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Nothing wrong with enjoying the time off. I’m a rising senior so I have a SA offer already. That said, ive been reading a lot, picking up other hobbies, trading, etc
If I were a rising junior I would be networking as much as possible to land a SA gig for summer ‘21
Already got my offer for SA 2021, so I can finally relax. I'm not very comfortable with my technicals, so I'm planning on doing some modeling practice. My original plan was to celebrate my offer the entire summer, but COVID is going to make that hard, so might as well get some learning in.
If you already know what group you're going to be in, I'm sure it would be very helpful to look at some business models and deal processes/unique models. For example, if you're in TMT, looking at business models of all the different verticals, the major players, industry multiples, etc. If you're in M&A, understand the ins and outs of accretion/dilution.
Many sophomore friends that I have are grinding hard right now in preparation for recruiting season. Many of the banks haven't even opened apps.
where's your offer from? how was the recruiting process for you? congrats man and have fun this summer!
Thanks! Headed to a BB next summer. Recruited through the diversity pipeline. Like most BBs, it was First Round -> Superday. Technical questions were standard and from the 400 Q guide. Heavy emphasis on behaviorals and markets based questions for Superday with MDs. I was also interviewing with a few boutiques/another BB, but the BB I'm going to was at near the top of my list, so I cancelled all my other processes.
Some tips that might help during the interview process:
Know your resume and be able to speak to your experiences using the STAR method.
Name drop a few people you talked to at the bank, will be very helpful especially if they know your interviewer.
Focus on perfecting the "Why IB?" and the "Why X Bank?" questions. These are some of the most important.
Understand the technicals: Financial statements, basics of accounting, how to spread comps, walk through DCF and main components of LBO/Merger Models. It's more important to really understand rather than memorize. You might get thrown a curve ball that's not on a guide, but if you understand finance, you can give your best shot instead of having a blank face.
Be able to think like a banker. You should have a big picture view of how the deal process works. What are the roles on a deal team from analyst -> MD? This isn't something that you'll be asked most of the time, but it's good to share that you understand this. For example, I was asked something about teamwork, so I mentioned how my experience could relate to a deal team, letting the interviewer know that I did my research/know what I'm getting into. Makes you seem more well prepared. Note, this could backfire if you come across cocky or hardo-like. Always be humble about what you know.
Good luck!
is your offer at a big bank? just wondering whether consensus amongst the bigger banks/consulting firms is to hold back SA 21 recruitment until they know more about the impacts of COVID
Offer from BB. I know that Credit Suisse slowed down their process for a while because of COVID. However, most of the banks will do things according to the set timelines, just going to be virtual interviews instead. Most of the BBs will be doing interviews in July, August, September.
Not sure about consulting firms, however I have friends preparing to recruit in the fall.
Hey, congrats on the offer! Just out of curiosity, are you interning/working this summer? I'm also a sophomore and just finished recruiting for SA 2021, not sure what to do this summer now
are you also going to BB?
Congrats to you too! Yea I have an internship at another bank this summer, so that will keep me pretty busy. I feel like you shouldn't have to worry about anything big for this summer, especially since you already got an offer (assuming you don't have an internship for this summer). Just pursue your interests, and do something, so the whole summer doesn't go to waste. Maybe try reading up on some finance things, but for the most part, I think we can relax for now.
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