How to get your first internship (no previous IB experience)
Hey guys.
I was wondering what can be added to a resume in freshman and sophomore year in order to bulk it up prior to the first IB summer analyst application? Essentially, how do you get your first job without any prior work experience in IB? I assume networking and on-campus extracurriculars are essential, but would anybody be willing to speak to their individual process and experience?
PM me if you want
school career website/offices
Does working for an F500 company prior to like Coke or IBM make you more attractive? Like is the experience impressive at all?
Obviously the brand name matters
Would any of you guys recommend working in MM freshman or sophomore summer and then using that experience plus networking to break into BB? There are plenty of MM options where I am but BB offices are few and far between.
Obviously. That is if you can get a MM internship
Where to start for a first internship? (Originally Posted: 07/31/2013)
I am entering my second year of study at a high ranked, but non-target school and am starting to plan for next summer. Next summer will be my first internship and I need guidance on where I should be looking as to not waste my time applying to programs out of my reach. Basically, I would like to end up in IB or Asset Management, but I understand it is incredibly difficult to land an internship in IB or AM with no previous internship experience, so I've decided to look into alternatives like PWM and realty management.
In a nutshell my credentials are as follows: -GPA: 3.93/4 -Strong lineup of leadership experience, EC's that are related to investments and investment banking (investments committee, founded school's IB club, fraternity committee director)
What are some reputable firms that offer internships that are obtainable for those with no prior internship experience? I am considering looking at local branches of BB PWM and internships at BNY Mellon, ING etc. (middle market). Do you think these are obtainable if I play my cards correctly? Thank you.
Reach out to alumni, start cold-calling/emailing as many places as you can find. Make it clear why you want to go into IB/PWM/AM and what you can offer.
Some firms have structured programs for people w/o experience (likely unpaid) while other firms may bring you on board if they need help (possibly unpaid as well).
Use the search function and start getting off your comfortable college seat.
You have lots of work ahead of you. Good luck
IB and AM are pretty different thing...make sure you understand what each is exactly and WHY you want to do either. If you want IB to make it easier to get to AM you better have a reason better than because you want the exit opps of IB
I say IB and AM since I am unsure at this point. I will be interning twice before entering the job market, so I'm leaving them up for exploration.
Your First Internship? (Originally Posted: 03/19/2011)
Where and when did you do your first finance summer internship? Did you return the following summer? Where are you working now?
First Internship: ML PWM
Current: MD GS TMT
I am a nontarget and was an actuarial intern at an insurance company. I'm in f500 finance now.
first internship: MSSB PWM now:BB SA S&T
First internship: GS TMT Then BX PE Then God
can we revive this thread?
Want to get an internship in Investment banking, Where to start? (Originally Posted: 12/04/2010)
.
Also check out the Get A Job forum and read through the past year or so in this forum. You'll get a good idea of what I-Banking is about. If you decide you want to pursue IB, you're going to also want to check out the WSO guides. It's got a lot of good info on networking/interviewing.
Where to start? - Starting to apply for summer internships (Originally Posted: 07/18/2010)
Hey everyone I am about to start applying for internships for Fall semester and I just don;t know where to start... my last two internships i got throigh craigslist but i feel that the real quality ones lie in a different arena... so please tell me where to start?
http://www.mcstate.com/careers/
LOL that was a great post.
McDonalds has been getting a lot of press on this board lately, but here's a word of warning. If you manage to get a FT offer, you might not like what you see behind the scenes and will get burnt out. Not being able to eat those delicious fries and pound a Big Mac so soon after college would be very unfortunate. B-school and late night drinking/smoking are a common cure for this type of burnout though.
man you guys are brutal!
How to get part time IB internship with no experience? (Originally Posted: 11/20/2013)
I'm a sophomore at a target school in NYC. I'm an engineer with no financial experience who wants to work Fridays at an investment bank next semester. I would like to gain some experience and learn more about investment banking and finance in general. I've taken Intro Econ and am taking Macro next semester. I'm going to teach myself accounting over winter break.
Is there any way I can get a spring internship (unpaid is fine) in my position? Where do I start looking? My university's career site only lists banks who want experienced people who can work 20+ hrs/week.
Your availability won't bring you much luck. If I were in your position, I'd look to set up a shadowing opportunity or short-term internship over winter break instead of teaching yourself accounting. Or you could go for both...
Perhaps cold email some of the smallest boutique firms you can find and beg for a job.
First internship (Originally Posted: 03/05/2014)
Any advice would be greatly appreciated!
Peace DP (that also includes personal experience with their recruiting process, so grain of salt as they say).
In most cases people would council to go against reneging but I think there are enough differences between the firms that it may be advisable in this case. Definitely handle the renege properly and be polite about it, even if they arent. Just make sure you lock up that FT offer though.
Good luck.
the
Renege with impunity. That CS offer is too good to pass up.
I don't understand why people get this detailed about their situations on WSO. Do you not understand how small the finance world is? ...
Completely agreed. I would highly encourage you to edit/delete your post. I would have taken the other offer, but you may have to weigh that against your school's policy on career services.
Which PE group would you be in? Will you be doing FoF work or working on direct investments?
Edited for privacy.
First Internship Question (Originally Posted: 12/17/2014)
I'm currently a sophomore at Vanderbilt University and have a 3.6 cumulative GPA. I'm very interested in pursuing a career in IB. I have strong social skills and intelligence, but very little technical knowledge or experience thus far. What type of internship would you suggest I apply for this summer in order to best position myself for a competitive IB internship next summer? Also, how can I market myself despite having no experience? Any input is greatly appreciated. Thanks in advance, guys.
As a sophomore your goal should be to line yourself up for junior summer by getting as close to IBanking/consulting as possible (assuming you can't get an IBanking or consulting job.
A common option for sophomores is wealth management because it demonstrates an interest in finance, will give you some exposure (although generally not to hardcore modeling) and internships can almost always be obtained through networking.
Your First Internship (Originally Posted: 11/19/2013)
Was wondering if you guys who have some experience under your belt could talk a little bit about your first internship. How exactly did you land it? How wide of a "net" did you put out there in terms of which divisions you looked into? How did you begin to network?
Sorry if this is annoying, just trying to maximize my efforts.
Thanks
Unfortunately, I did none of the above. But that's another story and don't take my advice if you don't want to. Narrow your search for what you want to do, then cast a wide net of companies and start networking, ocr, applying, etc. Whatever it takes son.
First internship was the summer after my sophomore year. I applied for 90 internships, received 4 interviews, and 4 offers. It wasn't anything too great (research in the investment division of a large asset manager) but was finance-related so SA recruiting the year after was much easier.
was an office assistant at an expanding PE fund. Convinced the MD I was smart enough to look at deals and surprised them with how fast i learned.
I started in PWM. Just find something appropriate to put on a resume.
First actual finance internship was for a wealth management firm after my sophomore year. That was obtained through cold-emailing.
My first internship experience (Originally Posted: 10/29/2014)
I started my internship in may this summer. I was 18 at a 50+ billion aum company in a small town. I was working under the MD of institutional sales. I started out doing tedious small work here and there giving me a lot of time to study for CFA level 1. A few days after my start day was my birthday, my boss found out and had me go pick up 30 orders from a Thai restaurant as my 'Present' for my birthday, finally I was getting some real intern work. I was well known around the office from playing Squash with the head of Equity team and my boss as well as the head compliance officer. While in my second week I got a job to organize and do research on top 10 sum over 100 million large cap company's and did a great report. I got to finally prove myself and that I am capable of more than fetching coffee. All the employees were great and taught me a lot and gave me a good amount of advice. I made 12/hr which was fine and I got to put a great experience on my resume and get ahead of the competition in my age and collage. I went to company retreats and catered events and really got a taste of the good life. I also learned that it wont be easy and I need to work my ass off if I want to become a equity analyst.
Good job! It seems that you had a wonderful experience; it also appears that you're light-years ahead of your peers at this point, so keep at it. I hope that your next internship will be just as good, if not better.
Looking for my first internship... (Originally Posted: 02/15/2014)
Hey all,
I am a junior with a good GPA (3.75+), but I have never had an internship yet. The thing holding me back is the embarrassment of a recruiting laughing at my internship-less resume.
I am agnostic towards PE/HF/IB internships, and I am will work at a small, three-man shop for some experience. I will cold call if it is necessary, but I am unsure on how to approach this.
I know this post sounds egregiously bad, but I really need some help.
I know my situation is not good, but any tips to get that first internship?
If you go to a target school, look at the Careers website of your school and apply to jobs you like. If you go to a semi-target/non-target school, chances are that you might not have whole bunch of options to apply to. So hop on the public job boards and start from there. Also, you need to be very aggressive about it!
Your situation could be way worse - at least your GPA won't hold you back as it has for a lot of guys in the same position. You seem to have the right attitude about it, just need to hustle and be aggressive - reaching out to alumni might also be a good way to go about it. I'm sure you'll find something, best of luck to you!
Thanks a lot for the encouraging posts, I have put together a list of 100 MM to Lower MM banks and PE funds. I will start emails and calls tomorrow.
Man up son!!! This ain't no sissy-boy's business!
First internship in finance (Originally Posted: 08/23/2010)
I am a rising junior at a target school in Canada, and I am looking at my options for a summer internship next summer. My gpa is pretty low (3.2 overall and 3.4 major) and I am just wondering about my options. I think IB and ER are out of my reach due to my gpa. I have pretty strong ECs but not enough to make my bad gpa a minor factor. So I am just wondering if there are other finance related internships that have a lower gpa requirement? Any help would be greatly appreciated.
I know that freshman & sophomores usually go for Private Wealth Management internships at reputable shops. I'm not sure how hard it is to attain one of those but I would inquire further.
Good luck!
Definitely PWM through connections/networking is your best bet. If you know someone at a PWM firm, they could get you in (even if it was unpaid at first), and you would have an opportunity to create connections that could lead to a future position. A 3.2 is not the end of the world for finance, in my opinion. Keep up the search!
Thanks for your replies. How about F500 companies? Are their gpa requirements as strict as IBD?
are PWM worth it? i dont think so. its basically bs. but yea u can atleast put the name of the firm onto ur resume..thats the only positive.
Besides PWM, with my low gpa do I have a shot at F500 or boutique firms?
bump
bump, any input would help
Hello
Build your connection with people in related firm boost your networking web it will really help you and boost your chance to get in PWM firm
Thanks http://www.fintel.us/
Cold calling boutiques, especially in Canada could work out for you man. Don't be too down on yourself yet. Network network network
Getting that first internship? (Originally Posted: 01/08/2012)
Hello, I'm new to the forums so I hope I'm posting in the right place
I was hoping to get some advice towards landing my first relavent work experience/internship, I'm a sophomore at NYU Stern, not the best I know, crummy gpa (~3.5) and I seem to be stuck in my search for an internship. I've been applying to a bunch of openings aimed at Sophomores/Freshman but they all stress the need for job experience, but how can I get started when they all require me to have prior experience? All my fellow students seem like they're set on their path, and I feel so lost because I don't know where to get started/what I should be doing. I've been trying to read around on the forums, looking at top rated threads, to get an idea of what a path might look like, and it's helping so I thought I might just take a shot and ask directly for more help.
Thank you all so much.
Network... you'd be surprised how many sources you could tap into. Parents; family friends; professors (many of whom have former students who would gladly help out); alumni, etc.
Literally every person I know got his/her first internship (usually after freshman year) through a connection of some sort. Since NYU is right in Manhattan, it should be a cinch to get informational interviews over coffee, etc. Just be humble, enthusiastic and don't trip over your words. Ask questions such as "what made you choose [the field, the job, the firm]" and "do you have any suggestions for someone like me who wants to get into [the field, the job, the firm'"
If you do the networking well, you should get a few solid leads for internship opportunities. Also remember that it's a numbers game. The more you network and the more coffee interviews you get, the higher your likelihood is of getting that crucial first internship.
After my freshman year, I must've contacted 50+ alums. Worth every second spent!
As said, being at NYU gives you a huge advantage in terms of opportunities to network. Spend the Spring semester reaching out to people at boutique banks and setting up phone calls/coffee meetings. Just be personable and ask good questions and you shouldn't have much trouble lining up something for the summer (particularly if you are willing to do something unpaid).
Just apply to shitty PWM internships. If you're halfway competent, somewhat social, and willing to work, you'll have no problem. You can then use that experience to get yourself into something more banking-related.
Network, Network, Network. You need to talk to anyone and everyone in finance that you know. Get into the NYU alumni database and start e-mailing for informational interviews. You should shoot for sending 10 e-mails a day and try to set up 5 informational interviews a week (preferably in person but over the phone is ok if you live in another location). If anything, networking now will help you down the road and might help you get an internship now. Applying through OCR is never enough.
Really appreciate the feedback! Another question though, Networking is not exactly a strongsuit for me, some times clubs like BAP have held Networking 101 sessions and they were helpful and I was wondering if any of you had any other resources that could help me learn more about the protocols related to networking? Books, forums, threads, anything of the sort? I wouldn't exactly know how to set up a coffee session with someone.
IB internship: where should I start? (Originally Posted: 11/18/2009)
I'm really trying to get an internship in investment banking this summer, but I realize I am starting kind of late in the game (because of college workload), and am not going to a target school.
Can anyone give me some advice on how to start? I'm a econ and math major at NC State and have a 3.8 GPA (should go up after this semester), however NC State is definitely not known for its business school.
I've also been learning about financial modeling this semester and know a bit about valuation (it plus 18 hours has been rough), but I haven't had any finance internships and I'm a junior.
I don't directly know anyone who works in finance, but I am asking around with my friends. Would crashing Duke's information sessions be helpful? I'd like to avoid cold calling if at all possible.
Whatcha think? I have found the financial modeling stuff pretty interesting so far, I like the financial markets, and I'm pretty type A so I thought I should check it out.
Also, most important of all, I look GREAT in blue :)
Don't think you're that late to the party, most banks won't even start looking at online applications until December/January. Hell I've applied to 3 places so far.
What makes you think you're late to the party? Info sessions for summer internships have only started. Go to as many on-campus presentations and info sessions as you can. At these events, learn about the industry, the different companies, and network with people. Applications aren't due until Dec/Jan/Feb
What internships or work experience have you had? You're not too late, but your credentials will matter. I suggest you also post a resume to get it reviewed on this site (use razume and post a link on these forums).
Thanks guys for your replies. I uploaded my resume to razume, and the link is:
http://www.razume.com/documents/12613
I tried to add as much relevent information as possible. I also have a seperate references sheet. Should I include "references available upon request" at the bottom? I've heard arguments for both sides. I figure it would be a waste of space since I will be bringing a leather binder to the interview with me that has the resume, reference sheet, and all of my accolades in it.
do you mean late as in late to get a finance internship prior?
At least you have a strong GPA. I would say that you NEED to network to get in since you said you go to a non-target. So go other target's info sessions.
I would also be wary to directly put M&A / LBO directly on your resume... it can backfire on you very easily
I meant that, along with how I assumed it was pretty late to start networking. I've noticed that resume drops tend to be about 3 days after the spring info sessions.
Any ideas on how to state the modeling course? You think they will have heard of BIWS?
Is there a good link on "how to network" properly? It just feels so devious having to act as if you know nothing about what the alumn does or the industry they work in. Why would they even give you a rec. if you asked all of those naive questions in the first place?
markopolo, this is pretty obvious so hopefully you have already started, but hit Wells Fargo hard. I met multiple people from NC State when I interviewed there so you'll definitely have some common ground with people.
take the supermarket work experience off..
One word, Scotland. Give it a try
Question about first internship (Originally Posted: 09/28/2007)
Hi, I got an interview for Lexington Realty Trust.
I am a freshman at Baruch College, and I wanted to start interning early since my school isn't a target.
The work they will have me do there is paper work... Pretty much the garbage stuff... But is it worth it for me to work there? Will it help my chances in the business world at all?
Work is better than no work, if that's what your options are.
thanks.. anyone else?
Being a past baruch student, I can tell you that brisbane is absolutely right. As a freshman, grab whatever you can that conveys interest in finance on your resume. As each semester (and summer) goes by, continuously look for better internships. I wouldn't be surprised at all if by the time you were recruiting for a big summer with a BB, you would have 5-6 internships with financial services firm, including a boutique or MM bank. That is one of the huge advantages that Baruch students have over the traditional target schools. You are lucky that you know what you want to do as a freshman. I spent my freshman year at baruch figuring out what i wanted to do, then i spent my sophomore year interning with financial services firms. You will have a huge advantage starting one year earlier than I did.
Also, use the career center there. As a freshman, in particular, the mock interviews will be incredibly useful. The career center knows how few students make it into IB, and they're always trying to find the cream of the crop that can make it into IB every year.
holy shit, 5-6 internships by third year? Isn't that kind of over doing it..
It sounds like a lot, but:
Freshman 2nd semester: Random anything finance internship Freshman summer: Research/sales/other internship Sophomore 1st semester: PWM/Small Boutique Sophomore 2nd semester: Corp Finance department of a F500 Sophomore summer: MM Bank ibd, Sophomore summer rotational (very hard to break into) or MM/boutique bank, or even continue with the corp finance department of the F500 Junior 1st semester: MM or boutique ibd
--Recruiting--
It's hard work, but very do-able, and it is really the only reason that baruch placed 7-8 students into BB Front office IBD annually.
Ok thanks guys, but the company that I have the interview for is a Real Estate company. It is not exactly finance. Will it still help?
Harv, I go to Baruch and will start FT in a front-office job at a BB.
The bottom line is, if you want to make it from Baruch, don't act like a tool. You're a freshman. You will only get bs internships. You will probably have them until after your sophomore year. Any job is better than no job, and you're not going to get a boutique gig as a freshman. Take the internship, get top-notch grades (which is arguably more important right now), and go out drinking with non-Baruch NYC college students. You'll understand.
And the guy above me is right, the CDC (Heather) is your prime resource. Develop that relationship now.
Relax, get good grades, everything will be fine if you're a smart kid. Have fun. Good luck.
Lexington realty trust would make for a marketable internship.
You are a freshman, so maybe you are unaware of the structure of most investment banking groups.
Allow me the honor... there are product groups (M&A, debt, equity, private equity related stuff) and industry groups (healthcare, real estate, financial institutions etc.) With that said, investment banking (industry) groups' clients are the companies within their field. Lexington realty trust may be a client of a given bank, as such they probably have connections. Even if you can't tap those, you will be more marketable during interviews for a real estate group.
Think about it.
Summer Internship in NYC? (Originally Posted: 04/22/2014)
Hey there,
I don't use this forum often; however, I browse from time to time for advice - advice which has been of great help to me in the past. I'm currently a freshman in college at a target and I live in New York City. I know that there are many opportunities living in the city when I return home from college in May, but I'm not sure how to go about acquiring an internship - paid or unpaid - to get experience during my break. Can any of you tell me how I should begin the process of finding an internship, if it's not too late? Thanks.
Look for PWM opportunities or anything finance related. Search Indeed, cold call, cold email, etc. Yes, it's late. Start applying in the fall for Summer 2015. Make sure you're in the appropriate clubs at school and good luck.
I'm also wondering this, seems like a super important part of getting a job.
From what I've been reading on the site, it's simply just networking. Go on LinkedIn, find alumni from your school and try to contact them. Of course, don't just say "hey, I need a job can you get me a hook up?"
If you do network aggressively, you could make friends who could drop off your resume for you, but it seems that most internships or summer analyst positions come during the summer of your sophomore year into your junior year.
Sorry, I'm a high school senior as of now, so I probably can't offer the best of advice, I'm just trying to tell you what I know from what I've read so far. I probably wasn't any help, but I tried, haha.
Good luck! I'll be in the same position as you soon.
Bump. anything else?
Internship Help...Struggle City (Originally Posted: 03/27/2013)
I've had a nightmare trying to find an internship for this summer so I was just curious whether anyone knew of any options still available in NY. If it helps I'm a junior majoring in Math Econ., but I haven't exactly set any records GPA wise (3.3), and I also have minimal financial experience.
I don't know about exact opportunities out there, but keep networking with alumni and getting informational interviews. Show how much you want it, be persistent. Good luck
hey olgi try indeed dot com
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