Comments (4)

Jun 23, 2014

To be frank and hopefully helpful, you don't go to a strong enough target to get in BB IBD with a sub-3.0. Its extremely hard to do that even at HYPSW. And networking will help, and maybe you might land that part time BB internship during the school year, but my experience with recruiting is yes, brand name helps, but no it does not trump someone with a 3.7-3.8+ GPA with mediocre experience. This is unless that internship is IBD-related (or even GS SSG). Seeing from your past post, you go to NYU, and my understanding is that the posting system operates similar to the Columbia one in that a lot of postings for part-time internships pop up during the school year. You would need to make sure you apply as soon as the posting is posted, and in you case, know someone there that will pull for you to get that spot.

Its good that you've been networking and have secured an option for the fall, but your best bet would be to raise that GPA before resume drops come in, and spread your net wide. Also one important point I learned is to make your resume as polished as possible, especially coming from a finance heavy school where everyone will have good resume formats and bullet points.

In regards to asking, I really doubt your contacts would have any idea who runs the side recruiting for those part time spots, but it wouldn't hurt to express interest, and ask if they know who they might be able to point you to that could help you regarding that process. Keep that relationship strong so that if by the off chance that they give enough shi*s about you, they could still vouch for you during official OCR processes or refer you to someone who runs the recruiting.

Best of luck.

Jun 23, 2014

Thanks for the feedback, appreciate the honesty. But a couple of things to clarify, my GPA is above a 3.0 after last semester but still pretty mediocre I'm aware. It's definitely something I can speak to that's for sure, but I realize when my application gets dinged before a first round interview I wouldn't even have that opportunity. That beings said, resume drops, at least at my school, start and end in the fall. I'm obviously working hard to pull that GPA and will continue in the fall, but at this point I'm not even sure fall grades would even be factored in. You're mostly right on how our career database works, tons of part-time posting but I've never seen any for BBs. To my understanding people secured them through their own networks. In terms of OCR, the contacts I've made are pretty active in the recruiting process. I've connected with the campus recruiters for the different firms and alumni. The MD I'm talking with this week is actively involved in GS recruiting and I've had informations and communicate regularly with an MD and analyst who are very involved in recruiting for MS for my school. Lastly, almost everyone I've met with has given me resume feedback and it's all been positive with no real critiques so I'm pretty sure it's in good shape.

My question is: Do you think it would be more beneficial to do the boutique IB internship or something middle-office or Asset Management at an BB?

Thanks

Jun 23, 2014

Look, thats all great. Your networking seems like it will be of help. If your GPA is not anything near a 3.4-ish, unlike the conventional wisdom on WSO, I think there is a limit to which networking can help. Just ask any of the juniors or seniors who went through the process to see how many individuals actually got an offer with a sub-3.5 to gauge your chances. Just a few more data points for your reference: According to the other NYU intern at where I'm at right now, some firms have resume drops before January, others during January. It varies from year to year, so you might still have a chance. Also, I know for a fact that both Columbia and NYU got GS SSG postings, as well as a BB ER posting. Jump on those asap.

To answer your main question: There is no clear cut answer for this. WSO cuts to the chase by saying Boutique IBD>BB BO or even MO. But just to share what I mean by not clear cut answer:

Situation 1) You're spreading your net wide. You apply to BB Asset Management Summer Analyst spots, Equity Research spots, or even BlackRock/PIMCO for example. The Asset Management internship here will not only provide brand name as well as a talking point for why those roles. Those roles are also really great opportunities that IBD-Or-Bust mentalities don't consider. And because of the relevance and past experience with those roles, you WILL get those interviews and have a better chance than if you took that Boutique IBD internship.

Situation 2) You're a solid candidate. You think you have a good shot at IBD. Go for the boutique no-name IBD internship. When you get those interviews, you can explain why you think IBD is what you want to pursue, and in an ideal situation explain deal experience or modeling experience. And if you're strong enough of a candidate, you might also be able to get those non-IBD roles such as Asset Management or ER at BBs as well.

Evaluate your situation, the downside, the upside, the risk, and then decide for yourself what you want. Feel free to PM if you have any other questions, I would say I was an underdog throughout the process but was able to increase my chances.

Jun 28, 2014
Comment