Are Firm Freshman Programs Worth It?
As a undergrad freshman, I’ve noticed some firms have 2 day programs where they fly you out to learn about the firms and the finance industry and network. It doesn’t really seem too selective. I’m wondering if these things will actually help with getting a job later? Are these things I can put on my resume and cover letters even if I’m applying to other firms?
It should help with establishing connections with said firm to help line up future interviews, in addition to providing a solid answer to the "why this firm" qn in interviews.
Did 2 of these for BBs. Received interviews at both places and accepted an IBD SA offer for my sophomore summer.
These programs are really competitive and a handful of the 20 kids or so that they select are from H/S/W.
Do it if you can get in. As Wall st noted they are competitive and have a lot of HYP students and minorities.
This is one of the easiest ways to get in the door early. Every BB firm that does a freshman "insights" program has a dedicated sophomore internship, with the exception of GS (which still takes high-performing sophomores, just doesn't silo the internship program separately from the standard one).
If you get accepted, you'd be an idiot not to leverage that towards the sophomore programs. You're one of 16-20 handpicked candidates, and there's generally a large overlap with the firm's diversity (minority, veteran, LGBT) initiatives. That means you're a shoe-in for the sophomore internship.
Dress well (read the forums), read the interview guides, get a leather padfolio, print your resume, and when you're there, make a great impression on every single person you meet: HR and professional. You may get pulled into an interview for the sophomore program before even leaving site. You aren't expected to know technicals like juniors are, but standing out by having polished answers to "why banking" and "why this firm" (which should be very easy given the 48-hour exposure to the culture, people, and buzzwords) while presenting as mature and polished will get you very far.
I did half a dozen programs like this in my first two years and got into one of the BB scholarship programs as a sophomore. (God, what a trip down memory lane.)
Something else to keep in mind about GS is that getting into their undergrad camp program doesn't mean anything. Pretty sure that they take ~100 for the NYC freshman program while there are probably less than 15 sophomores going into IBD this summer
Edit: Why the MS? I'm pointing out that you'll still have to work hard and continue to network even if you do get into one of these programs.
Didn't give you MS, but I disagree with you on this. My friends who went to undergraduate camp and were proactive about keeping in touch with their assigned mentors from the program are incoming SAs. If you don't behave like a fool and aren't socially awkward, you at least guarantee yourself a first-round interview in the next recruiting cycle. Converting that interview into an offer is all on you. JPM's program also invites ~100 people btw.
Some of these programs now have first-round interviews embedded in them: GS Insight Day, JP Launching Leaders, Barclays Sophomore Skills, so even much more attractive of an opportunity for sophomores.
Definitely apply, definitely go, and definitely put it on your resume.
Bingo - APAE outlines this perfect! I also did half a dozen of these programs and was able to secure a sophomore summer analyst position. Locked in an junior year offer + scholarship for this upcoming summer in September.
How could it hurt you?
Won't hurt. It will do a lot to enhance your story if nothing else.
Oh damn, I didn't realize these programs were so selective. Thanks for the insight, I'll definitely apply to these then! Is there a list somewhere of all the firms that offer these programs?
http://www.wallstreetoasis.com/forums/tellers-comprehensive-guide-to-di…
A classmate of mine participated in a 2-day "boot camp" program at a MM bank with no other finance experience on his resume, and received first round interviews at a handful of BBs, EBs, as well as BX PE. At the same time, a lot of other kids at his GPA range (3.5-6) with no such relevant experience received very few interviews. Someone with a name brand and/or relevant experience on his or her resume is almost always favored over the competing 100 kids from the same school with the same GPA without the experience, especially during junior SA recruiting when not much else stands out on most candidate's resumes.
Edit: This is at H/W, although I feel as though the logic should apply even more so at semi-target and non-target schools.
Very competitive to get in...I applied for MS, JPM, Barclays, and Goldman...don't think I got into any of them because none has responded.
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Good to see the US is emulating what EMEA/London have been doing for 10+ years. ;)
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