Summer analyst after senior year...?

That is pretty much the position I'm in right now. I want to get into a summer program..but I'm graduating in May. Should I push back my graduation a semester... would that be looked down on...or is it common place to hire seniors into summer programs?

Anyone with an idea?

tldr: Do banks hire graduating seniors for their summer analyst programs?

 

It's been covered before, but basically they do sometimes, but very few and you should exhaust all other options before accepting this option. MM firms are more likely to do it than BB, also think about getting a masters.

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."
 

It's uncommon but you can always take senior spring off, work in the summer, get the offer, and go back to school in the fall. no extra tuition and you have an extra internship to work with. not sure if its frowned upon though

 

Its not too late. You need to keep networking big time. If you haven't already, get on the phone and start calling every boutique and small MM i-bank in the city where your school is/the closest city/city where you are from and tell them:

1) Your name, major, school 2) Your internship experience (highlighting your summer internship) but end this sentence/section saying you want to move to a smaller bank 3) ask if they are looking for analysts

Its a numbers game and having BB IBD SA position on your resume is huge...if you haven't used that to your advantage yet you need to get on it fast.

PM me if you have questions...this type of thing is essentially how I got my FT offer

XX
 
Pike:
Its not too late. You need to keep networking big time. If you haven't already, get on the phone and start calling every boutique and small MM i-bank in the city where your school is/the closest city/city where you are from and tell them:

1) Your name, major, school 2) Your internship experience (highlighting your summer internship) but end this sentence/section saying you want to move to a smaller bank 3) ask if they are looking for analysts

Its a numbers game and having BB IBD SA position on your resume is huge...if you haven't used that to your advantage yet you need to get on it fast.

PM me if you have questions...this type of thing is essentially how I got my FT offer

When you cold call what number do you use?

I banana back
 

How do these offers work? As soon as you accept you get your signing bonus or what? Or does that wait until you actually start

Honestly, I think you're in a bitchin position. Got a FT gig lined up and graduating early. I'd travel man, get that out of your system. Once FT starts you'll be slaving your life away until retirement

The flip side, you travel and the BB rescinds because of the economy

 

Can't hurt if you are unemployed but the first and better choice is always to look for FT. Internships are in many cases even more competitive since many of the kids gunning for them have very high GPA's and less on experience.

 

I dont know of BB, but definitely boutique firms do take college seniors as SA's. Try those, especially since their recruitment is rolling sometimes. Try some regional firms? Good luck to you and your brother.

 

Is it just me or is that extremely odd? Seems like an error on someone's part. I would play it through because they typically dont have graduates as SAs.

Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
 

I am also a senior at a non-target... Had several final rounds, but faced the same thing... The firms I interviewed at (MM), were all picking up one or two analyst... Though I go to a top 30 school, we have a target school right down the road from us... So, you can guess who filled those few spots I was fighting for...

Anyways, I too have been applying for SA positions, but have also continued to apply for full time positions at boutiques.

 

Tell em you're a junior? That'd be a hell of a ruse to keep up...

  • Capt K
- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 

I'm a senior graduating in May and I was able to land a SA that is supposed to turn into a FT position. Hopefully I don't get fucked. In your case you have graduates so I'm not too sure, good luck though.

 

Thanks for the responses. I don't think I have much of a case for finishing another degree, so I probably don't have much of a chance for interning.

I think I will try my best to land another internship during the spring and recruit for off-cycle FT.

Thanks!

 

I know of a few firms that specifically say they are looking for "final-year students or students that have recently graduated" for graduate FT recruitment (Nomura immediately jumps to mind), however, I don't know if this is the norm and whether having already graduated would be a disadvantage at other firms that don't explicitly state this.

 

very unlikely that you will get summer internships at BB. if you do great at a fall internship, you can try to network your way. if you are at NYC, you can try some small firms for internships.

 

if you are interested in IBD only, then you really need to work at BB first. MM or smaller firms dont have resources to train you. I assume that you are from Columbia. Use your school alumni network and send cold emails. You dont have chances at firms with structured recruiting process. But you can try to find a way into small firms. There are tons of investment firms at NYC.

 

Tough with that GPA, and minimal internship experience. Best bet is an SA position, but I would be surprised if you can get that because if you could, you would have gotten a FT offer, and banks typically like to focus recruiting from current students....

 

Yo..

Just wanted to give you some resume advice here because it could really use some cleaning up. Would make it easier to read if you are applying for some SA/FT positions in the future.

1) Split your leadership & work experience. Don't clutter them into one place. It hides some of your experience.

2) Change your PWM internship name to read Wealth Management Summer Analyst.

3) Put your equity reserach position at the top as it is still a job you have.

Hopefully that helps a little bit.

 

I think you have some options.

Stay the extra semester and don't look back - if you do this you need make sure you add experience to your resume during this time. Start networking as soon as you have made the decision.

If you decide to graduate this summer you can still apply for FT positions next fall, but it will be an uphill battle since you won't have the help of your career office (although some allow it). But why stop applying and trying to break in? How about going the boutique or MM route? Many don't have structured recruiting schedules like their BB peers. With enough effort, I am sure you can still network your way in before you graduate.

Good luck.

 

I went through this situation last year and I chose to stay and finish a second major in lieu of a minor. Worked out well for me - if you can spin the extra semester well and land a summer analyst role, it opens the doors for full-time recruiting in the fall. For me it worked out especially well because you can pitch yourself as an off-cycle hire who can come on board in January. Anything to give you an edge to stand out of a crowd of interviewees.

 

if tuition is a problem, can you take next semester off, do two internships during that time while recruiting for SA, get a solid SA position, get an offer, and come back in the fall to go through full-time recruiting with 3 extra internships under your belt, and then take spring off?

You only have one more term of school either way so same cost but 2 more terms free

 

is it even necessary to spin the extra semester? i am considering doing something similar and was thinking I'd just change my expected graduation date to a year later on my resume and not mention anything. when they background check me will it be a problem that I skipped some quarters in order to "become a junior?" While they may not be crazy about it, it wouldn't be a lie so it doesn't seem like something that could get an offer rescinded...thoughts?

 
Best Response

Apply to, and get in, a one year master's program. A loop-hole in the banking internship is that an SA must have another year of school.

That said, banking is a very conservative business. People like to see uniformity in the people that are coming in because it was expected of them. You could always declare another major so that you have no possibility of graduating this May and you will be reclassified as a junior. There are a few steps you can take to include yourself in the pool of SA applicants. You could take next two semesters off and do some kind of charity work and save your final semester for spring 2011.

Do you really want to be doing that though? Why not do the MBB? Go to business school after a few years and then transition into banking.

More than anything, think about where you want to be in five or ten years. Do you have to get an SA spot and hopefully get an offer to be a full-time analyst to get where you want to go?

 

All BB and reputable MM and boutiques will not consider your application. Once the HR see that you are a senior, your resume will be tossed into a trash bin automatically. If you have a huge push from someone (say a group head) inside, there is a slight chance that HR will bring you in for an interview. But even that is quite rare.

You probably wanna call up some 10 people boutique shop. They have no fixed recruiting schedule and may be willing to consider any person as long as they like your credential.

 

Yea I think the above poster is correct. Without another year or at least semester of school, I don't believe you are eligible for an SA position with any firm that has a standardized recruiting process. And it doesn't really matter that YOU don't see the difference betweeen yourself and a junior, it matters that THEY see a difference and they make the decision. So don't be cocky like they owe you something. You, like everyone else had your shot at an IBD SA position last summer, and you missed it. So now rather than criticizing the system you have to figure out a way to fix it and get a FT position.

 
Billy Ray Valentine:
I believe if you have another semester/year of school left you are fine looking for SA positions.

Hmm... so if I have one full year to go before graduation and my academic status says that I'm a senior at the time of SA application, will that still be fine? For instance, a rising senior applying for BB in Dec, and graduating exactly one year after(he/she might have taken one semester off for internships or other activities)

 

I know of someone who hadn't done any finance internships through college, but the summer after graduation she interned at GS Investment Management. She was going to a masters program (not finance or economics related) at another university, so perhaps GS thought she would return to GS after completing that program. I suggest if you DO get interviews to consider what your story is.


Chase Us, Break In! http://chasingconsultantsbreakingbankers.blogspot.com/

 

when you're applying for jobs, what they will ask you for is GRADUATION DATE, not "class standing". no one asks you are you a junior, only what year you graduate.

in response to the OP's question, i have never seen ANY seniors at the BB's i've been in for the past 3 years. however, that said, i know some people have said they are doing 5 years of undergrad, etc. then in this case, you will be eligible for SA positions during the summer after your 4th year.

 

So long as you have another year left you can do SA. Friend of mine prolonged graduation from 6/2006 to 9/2006 and he just did SA recruiting then and started his FT offer in 10/2006 lol

there are lots of loopsholes

 

I know how long it has been since this post but I am attempting to do this - apply to a SA stint as a senior. My resume is extremely strong aside from the fact that I am a senior and I could really use some advice. Do you know the details of what your friend did for his/her application? I am conflicted because all of the contacts I reached out to during my junior year recruiting probably won't want to help me.

 
akptech:
You miss 100% of the shots you don't take.

What about going back to school and extending graduation?

If he's extending to Dec I'd say it wouldn't even be worth it.. Most of the SA recruiting is wrapping up I think. Of course, if the money really isn't an issue I'd extend grad for the hell of it

 

Ipsam quia aut ipsam tenetur in. Quia vitae soluta vitae et necessitatibus id. Et ut alias doloribus veniam.

Voluptatem rerum ipsum sunt et hic nemo rerum. Incidunt eos natus qui cupiditate error voluptatem dolorem dolores. Rerum nemo officia sed expedita ea occaecati nesciunt.

 

Quam debitis neque ad voluptas porro qui consectetur aut. Distinctio delectus vel esse omnis voluptates earum. At et rerum rem consequatur qui autem.

In quo et dolores itaque harum. Laborum voluptatem quia nobis. Eveniet harum consequuntur quaerat recusandae velit et velit ducimus.

Incidunt aut facilis et quo quia quisquam. Tempora ut ea dolores vitae reprehenderit. Sed eum ut autem libero rerum in perferendis. Fuga consequatur itaque quia ut eius id culpa.

Sed omnis enim quo omnis. Accusamus soluta cumque harum dolor accusantium quia voluptatibus recusandae. Iure eligendi sequi quisquam sit.

CompBanker’s Career Guidance Services: https://www.rossettiadvisors.com/
 

Voluptatem dolorum modi sed delectus magni. Omnis blanditiis consectetur hic officia. Voluptate beatae atque optio mollitia quia. Aut corporis nihil aut consequatur laudantium porro.

Sed dicta consequatur vitae eum placeat repellendus nam quo. Velit architecto ut reprehenderit dolorem ad non eum.

Velit quo expedita est quia. Nihil facilis quidem ipsam blanditiis similique quos. Aperiam laboriosam labore vel qui.

In sit vero cumque modi. Quis consequatur velit quia quasi voluptatibus qui in. Ipsum modi reprehenderit asperiores quia ut quia. Incidunt voluptatem excepturi impedit numquam sit adipisci alias. Inventore consectetur suscipit soluta ut enim.

 

Sit autem vero ea quos asperiores id. Non aliquid recusandae fuga. Beatae sunt error molestias officiis quae et distinctio. Omnis dolor quos optio ad odit voluptate.

Doloremque porro cum corporis repellendus. Qui ut at eum nemo. Ea libero provident ullam suscipit facere cumque.

Sapiente ipsum ipsa provident magnam. Dignissimos quae ut quia doloremque ut nesciunt explicabo nisi. Voluptatem repellat voluptatem earum quod corporis. Eveniet et ipsa ab quam non excepturi est.

 

Perspiciatis quae fugiat debitis id quia. Voluptatum quos est sit molestiae molestiae distinctio. Rem iusto et ad architecto ut fugiat quia. Et provident quis eaque non.

Fugiat sunt soluta quasi quia saepe non. Aut laudantium laborum eos error. Quia non quos dolorem odio quo consequatur aliquid. Iure laboriosam nam quo commodi corrupti. Qui sint et ad sit repellat. Soluta omnis asperiores voluptatem est et nobis corrupti. Sit veritatis aut nulla rerum nihil.

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."

Career Advancement Opportunities

March 2024 Investment Banking

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

Overall Employee Satisfaction

March 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

March 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

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $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
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
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...”