3rd year Breaking into IB

Hey guys, I've just finished my second year of my economics degree (top10-15) uni. My CV is pretty split down the middle with consulting and finance experience (plenty of leadership and teamwork experience). Predicted a 1:1.

This summer I'm interning in a MO of a BB bank (finance role) which is not ideal. I realise that applying for a grad scheme without a summer internship in IB is basically impossible so I'm wondering how to approach it. I don't want to do a masters so I'm left with applying staright for graduate or going for summers but not sure which banks take final years for summers (if anyone has a list it would be great).

Let me know what you guys think, any help would be really appreciated. I'm at a bit of a loss here.

 

Hey and thank you for the answer, in the UK only certain banks take 3rd years for internships and as far as I know most don't. I will definitely try to do very well in my MO internship and basically tell them that I want to change to IB FO after and hope they'll consider me but chances are slim.

 

Maybe you could apply to Big 4 CF grad schemes as well as off cycles at banks. You won't need previous IB experience for them, and your background seems competitive enough. Moving to certain banks (and PE firms) is doable from Big 4 CF in London after a couple of years.

 
Most Helpful

I have seen Barclays and DB both take people who have interned elsewhere (in consulting/Big 4) before, so it may be worth it at those. Both JPM and MS didn't recruit for FT last year, the other US BBs did but I think they will be more selective as people from Euro BBs will try to lateral to them.

EDIT: just saw you are at Barclays - can confirm that people can lateral from MO divisions - basically just do well on your internship, get the return and ask to move to IB. They will fast-track you to AC (assuming they are recruiting for FT).

 

Ducimus deleniti nihil consequatur blanditiis. Quo sint qui omnis ipsam molestiae. Ex ut possimus eveniet adipisci dolore vel.

Ut illo praesentium accusantium nobis perferendis rerum sunt. Et quaerat quaerat vel modi. Asperiores excepturi amet ad vel id impedit voluptatem.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
CompBanker's picture
CompBanker
98.9
6
kanon's picture
kanon
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
DrApeman's picture
DrApeman
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”