What are some name-brand banks that hire sophomores?

What are some name-brand banks that hire sophomores, excluding the bulge brackets?

I'm especially interested in MM tech, and have firms like Berkery Noyes and Petsky Prunier on my list. I'm also targeting places like Jefferies, PWP, Piper Jaffray, Stifel, ect.

Anyone know of firms that have taken sophomore summer interns? Are elite boutiques worth applying for? I'm considering not targeting BBs because I'll be applying junior year anyway - is it worth the stress to apply sophomore year?

Thanks in advance for help.

 

@"Golden Valley" I have heard that Allen & Co. doesn't really hire outside of their network. I'm guessing I don't stand a chance, even though I am at a target.

@"ars23" Thank you, do you know of any banks that have hired sophomores? Do you think it's worth the effort of applying to places like GS / JPM as a non-URM / LGBT candidate? They take so few sophomore interns (most of whom are female / URM) that it's a huge deterrent.

 

I can't speak for other firms other than the ones I've mentioned. I'd start networking everywhere, including your GS / JPM and wherever else, and see who can help you out. Yes, it's going to be extremely difficult if you don't qualify for some of the programs you've mentioned, but not impossible. I personally know people who were able to land soph summers at JPM and Citi after MANY informational interviews and office visits.

You're a sophomore, it's going to be a numbers game at the end of the day. Even if you can't land a position like this, you'll have (hopefully) built a great network of people who could help you out when recruiting comes along again in your junior year.

 

I asked this same question earlier. Short answer is no, there aren't any banks actively searching for non urm/lgbt/women sophomores but it is possible to break in if you have your technicals down and if you have good prior work experience. Networking obviously helps, but there is just a crazy amount of competition out there so unless you have a close family friend MD willing to help - it seems like getting your resume passed in internally is the ONLY way to even be considered for anything let alone have a better chance against the legit competition who will have all networked anyway.

 

Okay. Well, I'm interning at a reputable mid-market PE firm now if that helps.

"Respect others in their view, and demand that they respect yours. Love your life, perfect your life, beautify all things in your life."
 

it is not so hard to get into BB as a soph..

make some calls, grow some balls

have an unique approach and show that you are a good kid.

u must be able to offer more than people you compete for the position with, or you dont have a realistic chance

 

True but isn't the immersion just the week long thing or am I confused?

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
 

Yeah, immersion is week-long, thats true. I'm not sure if the OP was looking only for full-length summer programs or including week-long ones. GS does a week in the spring for sophs in both IBD and Securities as well, while immersion is in late May iirc.

 

URM = Under-Represented Minority... aka not Asians

Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
 

I think if you're at a target, it doesn't matter. Accept any decent sophomore internship and focus on other things such as networking, leadership positions, and etc. If you're at a non-target though, I think the BB commercial banking experience will help you stand out.

 

Yeah like others have said. Try starting out at smaller firms, then working your way up! Believe me I was at this really small firm, doing MD work and I was only 20. It's worth it. Start small finish big.

Greed is Good!
 

"Any suggestions as to what firms/division to apply to would be highly appreciated and tips for getting in would be extremely appreciated."

Better chances at smaller banks, lesser chances at larger banks. No division would be easier to get into. Best bet is to reach out to alums who would be willing to help you out.

"Extra bonus question: Do SAT scores mean anything for IBanking internships, and if they do, to what extent?"

Adds no value, will keep you at par if good score, will hurt you if you have bad score.

 

Frankfurt is a sweet city, but I'm surprised they would take you if you're not German fluent (unless you are).

But I'd imagine that if you're going to be in Europe, you might want to take an European bank.. which is why I would lean towards SocGen. Why did you rule them out?

"There are three ways to make a living in this business: be first, be smarter, or cheat."
 

This depends on a lot of things. I'd be careful opting for a European bank based on what all is going on right now. From a personal standpoint, if you prefer Baird, then you should go with what your gut tells you. They should be flexible about making a move to London for FT. Their dealflow is also quite strong, and growing. Cannot say much about RBC. Also a great bank that is trying to break into the "bulge bracket" status. If were you, I would decide between Baird and RBC.

 

Honestly the pay at an SA level doesn't really matter. It's all about getting your foot in the door and gaining that full time offer. In any case, they can't pay you peanuts. Even if it is lower, it will still be good enough to manage your expenses comfortably.

 

Apply everywhere and see which bank bites (banks if you're lucky). Don't exclude applying to BBs - I have met someone who got GS IB as a sophomore for example, and am aware that a number of solid sophomores get internships in IB at BBs every year - you sound like you'd be competitive. Network well and apply to as many places as you can.

 

You shouldn't expect an EB internship as a sophomore. Very few offer this, most notably Perella if I'm not wrong. There are a few options for you:

1) If you really want to continue expressing interest in tech, best continue doing tech boutique internships. There are a lot, West Coast (CODE Advisors, etc.), NYC (random boutiques). 2) I have heard of Sophomores networking there way into a established MM internship (whole 10-week program etc), and placed into tech coverage groups (Imperial, Stifel, Piper, Houlihan). You could start by trying for that, although you need strong senior pull, or else there is no incentive to take a sophomore usually (unless you are an absolute star). 3) BB Sophomore programs. Need strong profile, target (which you have), and networking will only help.

If you're at a top target with a solid profile, just focus on getting the best internship you can regardless of sector coverage. Don't stress that too much. You can network and recruit your way into the right firms (Qatalyst, Lazard Tech SF, etc), or just network you're way into a top tech group after securing that offer at BB/EB.

 

EBs don't take sophomores except PWP. HLHZ I do know took a sophomore once from Wharton but if I remember correctly, it was because he declared he was "graduating early" then changed his mind back to the 4-year track.

BBs are your best shot as a sophomore, most notably GS/JPM recruit top talent sophomores regardless of diversity. However all the other BB sophomore programs are diversity based, so unless you fit into that category, networking might be your only shot.

 

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