2nd year junior getting interested in IB
I have just finished my second year of college at Sam Houston State. It is not a target school by any means, but the business school definitely has a focus on banking which I think helps out some. My main concern is that reading through the forums and guides on here I feel that I am very unprepared for the technical aspects of interviews or even working. I am a junior by hours which puts me at graduating in December of 2019. I still have some pretty crucial courses to go through like investments, commercial lending, and financial spreadsheet modeling which will help immensely in my opinion. The problem here is that I am applying for internships for summer 2019, and from what I understand the interviews and offers happen in the Fall coming up. I wont get to take my investments course until Spring due to a prerec class required. The point of this post is to ask if I need to be learning all the basics pretty much on my own even though I will likely learn it all in my courses this next year due to the interviews being so soon. I appreciate any insight or advice.
You are going to need to be doing a lot of it on your own regardless. Some superdays are even going on this summer so potentially you could have one before classes even start. Your classes probably are not going to be going over the stuff you need for interviews anyways. I suggest starting with the 400 guide or some similar one and going from there. In terms of graduation if you are serious about pursuing IB you might not want to be graduating early, take a normal track and add a degree or something but you are going to be at a serious disadvantage. Just take the extra time and network your ass off and really buckle down and you could have a shot. PM me if you have any questions.
You are not unique.
A large chunk of kids applying for 2019 SA positions have little to no classroom experience in finance. I know several people (myself included) who have not taken a single finance or accounting class PERIOD, and have secured offers.
It is expected that the people who are candidates for these positions have self taught the relevant concepts for the interview, and will know them down pat.
While this may sound gloomy, you haven't sat on the traffic cone just yet. Start networking aggressively now, and grind on your technicals. We are currently about halfway through recruiting time wise. While your odds at an EB or upper BB are slim now, there is no reason you cant end up in a mid/lower BB (CITI, UBS, CS) or a top MM (Jefferies, Harris Williams).
Its time to wipe the lube off your ass and clench if you don't want to get fucked.
I appreciate the response and honesty. I am not against the self taught route as I feel I am a pretty strong self taught learner. Do you think it is a waste of my time to apply for upper BB firms at this point?
.
I'm in the same boat as you are, non target junior status, enough credits to graduate early in Dec 2019, however I added a second major (something people I networked with highly recommended) and will be graduating in May 2020. There is no added value to graduating a semester early. Use the M&I 400 or wso interview guides heavily to teach yourself the relevant technicals. Good luck keep hustling network your ass off
I clarified for someone else, but I am a double major already in Banking Institutions and Finance with a minor in accounting. Not sure what else I could add in a semester of school. So graduating a semester early I feel is the best decision to save money.
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