Why do summer associate internships exist?
Why does the fact that you go to bschool entitle you to be able to start in IB as an associate? Almost all summer associates are coming from a non-IB background. I understand that they come in at a later age, but there's no way that you develop such a robust knowledge base from bschool classes that allows you to circumvent 2 years of analyst work that people coming straight out of undergrad have to endure.
I'm not trying to make this post with a negative connotation – I'm just genuinely curious as to why bschool interns start as associates and what the utility of that is compared to starting them at the analyst level. I feel like if there's an "experienced analyst" application similar to how consulting firms run "experienced hires" processes it'd make more sense.
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These people have work experience. Modelling and finance can be learned through practice, courses and schooling but maturity cannot. The MBA students have proven themselves through their work experience to have the professional maturity to work at a level higher than an undergrad. Btw, I’ve worked with post MBA associates, they’re not all bad. The good ones typically work in the coverage group that aligns with their pre mba industry experience so they def provide value add. The shit ones get fired during their probationary periods or don’t get return offers
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