Am i too far behind to catch up for recruiting for my third year summer?

Hi guys! The title pretty much explains it all - am I too far behind to catch up for third-year summer recruiting? I had a very rough semester and wasn't able to put as much time into studying for recruiting and networking as I should have. Now, recruiting is approaching, I have done almost no networking and very little studying (just basic accounting and finance courses at school). Am I screwed for recruiting?


For context on my resume, last year I interned at a start-up incubator program, and before that I did 2 internships in high school within the tech vertical of a big Canadian bank. I secured an internship for this summer at a small investments firm doing "ESG" research. My GPA is a 3.87/4.3, which I was told should still be competitive, but peers around me have 4.0+s, and I won't be able to achieve those marks without pouring all my time into studying for school over IB recruiting. Additionally, many of my peers spent their first year summer interning as analysts at minor PE firms, giving them significant financial work experience over me.

If I am screwed for IB recruiting, what do you guys recommend I start doing to get up to speed? Should I give, up, or try to pour time (maybe ~10 hours a week) into studying and networking?

 

if this is Cornell just put out of 4.0 or don’t even put “/4.3”

 

I'm not sure about analyst recruitment timing but here are a few thoughts:

  1. Assuming it's not too late, if you are just starting prep 10 hours/week is not nearly enough time to be properly prepared. Personally I'd be spending minimum 21, and ideally closer to 25+ (3 hours M-F, 5 hours S/Su).
  1. Get in touch with your university's IB club. This will be your best source for understanding the timing for your school's IB recruitment.
  1. In the event you don't get IB this summer, go for a finance role that ideally involves modeling/valuation.
 

Not sure what the 4.3 scale is, but mathematically 3.87/4.3 is roughly a 3.6 so that really isn't that bad of a GPA. You definitely need to spend more than 10 hours a week on prep - probably 20+ at least. Start networking now (timing is important) and weave some technicals/interview studying into that come March when you've got a good network.

 

Sounds good! This feels like a dumb question but how do I network? Should I pick a firm and work my way up the team structure, or should I just try to be networking with as many analysts as possible from all kinds of firms? Additionally, does attending info sessions + chatting w/ people through those info sessions (i.e. in breakout rooms, as that's how Zoom info sessions go these days :'( ) count as networking? Or should I aim to be developing more "meaningful" relationships through 1-on-1 networking?

 

Do a search on here for networking guides/tips to get an idea of how to do this

You need to cast a wide net - every single BB/EB/MM firm to start. Target analysts/associates at each, especially alums, and hop on 15 minute calls with them. Target sending out at least 300-400 emails.

If your school offers OCR with firms coming in for info sessions, that's great and helpful but is not quite networking. You need to follow up with people from the breakout rooms individually

 
Most Helpful

Based on a previous comment you put on here I'm assuming you're in your 2nd year currently. If that's the case, I wouldn't say you're too late to the game. Most Canadian banks recruit for summer analysts in the summer so now would be a decent time to start networking and prepping for interviews. I think it should give you a good amount of time to get everything polished. The time you spent prepping really depends on your familiarity with financial topics (valuation, accounting, etc) and how polished your behaviourals are. I wouldn't worry too much about not working at a small PE shop before recruiting as long as you have finance experience. If you really want PE experience maybe volunteer part-time for a search fund this semester to boost your resume.

In terms of networking, I'd suggest you begin reaching out to alumni starting soon and keep up outreach well into the summer. Peakframeworks has a pretty solid coffee chat guide that should help.

Timelines for Canadian banks generally span from mid-summer (around July) to early fall (September) from what I remember, but these can be pushed earlier as well. The best way to really know is to reach out to people at the banks and ask if they know about the recruiting timeline. 

Hope this helps.

 

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