Chances for BB internship for a kid with a 3.3GPA from top target
Hi,
Background:
I'm a rising junior at a top target (think Harvard/Wharton) and I'm looking to get a 2019 summer internship at a bulge bracket bank. In highschool, I had solid extracurriculars (a lot of student government, debate, and continent-level recognition for leadership) and grades (2350 SAT, 44IB, etc). In college, I messed up my first semester GPA really badly so rn I'm resting at a 3.33 going into junior year. I still have quite a lot of extra curricular activities in college and I'm currently a private equity summer analyst at a firm with usd2+billion aum in Singapore right now.
Question:
How feasible would it be for me get offers from Goldman/JP/MS/etc. IBD with this GPA? I'm fairly worried about it because kids around me have 3.7s/8s. What should I do to improve my chances? How would I do for smaller shops like Guggenheim/Evercore/Centerview/etc.?
Thanks a ton!
I don't get all the "chance me" posts by people in the last few days, but I'll bite.
How feasible for GS/JP/MS: You don't pass their GPA screens of 3.5, so online app probably isn't going to help you. Being at a target helps, as well as your high school grades, but you'd need to network your way to an interview and then also be able to explain your GPA. It's a little late to just be getting started in the process for someone who has to network in, GS/MS have given some offers and JP has given most of their offers. The other BBs haven't really pushed as much, so you would have more time there.
Smaller shops: Those three are fairly different, but some of the EBs place even higher emphasis on GPA/quant skills, so you're not inherently better off at those. True regional boutiques might give you a shot just because you're competing against less applicants at that point.
Improve your chances: Start emailing, get the networking guide or just look up posts on how to do it. Definitely lots of people to reach out to being from H/W. Your PE experience, school, and extracurriculars should be good topics of conversation, and as said above you're going to need to be able to explain what happened with your GPA (mention college adjustment, upward trend, put major GPA on your resume, etc).
eloquence is pretty spot on. Your GPA probably won't allow you to get through normal resume screens/on campus recruiting due to the cut-offs, but I know of kids who have been fast-tracked into the process and even into superdays through networking and knowing the right people.
In terms of EBs and BBs, you might fare a little better at getting interviews at EBs because their processes usually aren't as standardized so they're less likely to immediately screen you out - but at the same time, the EBs you mentioned (EVR and CVP) are just as selective if not more so (fewer places total) than GS/JPM/MS. The kids I know with offers from top EBs have 3.8+ GPAs.
I would recommend going for some MM firms, and cast a wide net.
Not gonna lie, it is tough with a 3.3 but doable with a solid explanation, story, networking, etc. I did it with a 3.5 which is pretty meh, and I would definitely call it difficult at that point. However, I don't go to H/W so that may help you - I think your best bet is getting in touch with alumni and upperclassmen to get interviews that way. It's a bit late in the process so start ASAP.
Like eloquence said, lots of offers already out (I can speak for MS, Evercore, JP, CS and PJT at the very least). You might want to aim for a few EB/MM stuff for 2019 SA, improve your GPA then recruit full-time for a BB - with a good GPA, strong networking and thorough skill set after your summer, you might be able to pull off a top BB
If you attend a "top target" with a 3.33 right now you are on a heavy back foot unfortunately. JPM has practically wrapped up its process with H/W. GS a lot of offers towards target kids have gone out and you'll likely not get past the resume screen since GPA is the first metric they look at. MS hasn't done much but it'll also be hard without some extensive networking.
For EB's Evercore, Moelis, and PJT have filled its H/W spots already. The people I know at Centerview generally have really high GPAs (3.7/3.8) but heavy networking may yield an interview.
My honest opinion, top shops are going to be a reach. Particularly the more resume focused EB's. I don't want to however deter you because as you've probably read on this site many times before, you should never let your own stats control your destiny. Extensive networking, crafting the right story, and getting a little lucky can go a long ways towards putting you in front of the right people to get the job/interview. Just keep grinding and picking up the phone and I'm sure you can make something happen.
.
Is it feasible to just push your graduation back a semester? I’m not very sure banks take seniors unless it’s for FT recruting. I’m still in undergrad tho so take that as you will. However, I know plenty of people who graduated in December instead of May to do a Summer Analyst stint in a job they really wanted. Also, assuming you get a return offer you get half a year to do whatever you want before you start FT.
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