How important is it that you get an internship in your "3rd year"?

Hey guys, I've been recently accepted into several schools as a transfer student. I would be entering whichever school I decide on as a "junior" since I have finished 2 years at my current college. I've put 3rd year in quotes because I want to know what the importance of it is in connection to your junior year.

I want to spend one year at the new university building up my GPA and resume and then apply in the fall of 2018. If I applied this fall I'd have nothing on my resume from the new university and would have to solely use my application from my current one.

What's really setting me back is how strict the firms are gonna take the word "junior". In fact, why do they even care what year the student is? I understand why they don't accept freshman or seniors because one is just in their first year and the other is in the last, but I would have thought that as long as you get an internship in the summer before your final year, you would be good to go? I'd rather set up more of a resume at the new university with GPA and extracurriculars to show them after a year there so that they would have more to look at. My question is, are banks gonna view it negatively that I'm not applying in my "junior" year? I'd still be interning before my final year, just not in my 3rd (or junior) year.I understand this is a complicated question, thanks for your help!

 

I don´t get the problem?

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To the university I'm going to, I'll be entering in as a junior. I know that junior year internships are very important in landing an IB job. The thing is that I'll have no GPA and activities to show them because I know that I'd have to apply for summer internships this fall. I have to spend an extra year anyways because of how my credits will transfer, so I was thinking that I'd use this next year to build my resume and apply in the fall of 2018. My question is, are banks gonna view it negatively that I'm not applying in my "junior" year? I'd still be interning before my final year, just not in my 3rd (or junior) year.

 
Best Response

Banks only care that you apply in your "penultimate year", meaning they want you to intern with them the summer before you graduate. So if you're graduating May 2020, definitely focus your efforts on 2019 Summer Analyst Recruiting. BUT I'd still apply for Summer Analyst 2018 as well, because they'll see you as a "Junior" either way.

 

Wow thank so much, that's what I thought as well. I've been asking different resources and I've come up with different answers. Wouldn't I be at a disadvantage because I'd only have grades from my previous college to show them? The reason they are recruiting at that university is because they want grades from students from THAT university right?

 

They won't really care which grades are from where. Just list your most current, cumulative, and accurate GPA. And list that you're currently attending the school you transferred to, if you are officially enrolled. I don't think they'll try and weight out the value of your GPA based on when you transferred. Any discussions of your transfer will largely revolve around "why did you transfer".

 

Thanks, ya I figured it would probably more common with banks or firms actually based in Europe as opposed with branches of NY based firms

"Understanding reality, and financial markets in particular, is a never ending process." - George Soros
 

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