How to prepare for summer 2018 internship recruiting season

d12m's picture
Rank: Chimp | banana points 13

Hi, I currently am a Junior at a semi-target University with a cumulative 3.4 GPA and a 3.7 major GPA. I am majoring in international relations and minoring in Economics. Last summer I interned at small portfolio manager and this summer I am interning at a Hedge Fund in NYC. AM is something that really interests me and recently I have also been thinking about applying to some banking internships as well for next summer.

What draws me to AM is the ability to contribute to active investing decisions with research, analytical skills, and being able to look at the larger picture. Studying international relations, looking at a large playing field and seeing how world events impact the global landscape is something I find interesting. I could be wrong, but this is how I view what AM is like. Does AM sound like a good fit for me if these are the types of things I am looking for?

I am a little lost in terms of how to prepare for recruiting season as I am not in the business school at my University. Should I prepare for AM interviews as if I were applying for a banking internship? I have already bought the WSO guide to ib interviews and I am taking an online Excel course for beginners to boost my skills.

I have taken few business classes at my university, but I have learned most of what I know from my previous internship and doing investing on my own. I am a little nervous about finding an internship for next summer as I also will be studying abroad in the fall. Any advice or guidance for things I should be doing to prepare for an internship in AM at this point in my education will be greatly appreciated.

Comments (26)

Jun 29, 2017

Read the WSJ and markets news on the daily, you should be able to talk about trends in the economy and how they affect different sectors.
Know basic financial statements and ratios, and network hard before you go abroad.

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Jul 2, 2017

Thanks!

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Jul 2, 2017

Bump

Jul 16, 2017

A little late, but I'm kind of in the same boat as you. Economics and Biology major at Semi-Target going abroad in the Spring, and very interested in AM. From my understanding it would be a good fit, as I've been investing myself forever. I've been trying to network aggressively this summer but its tough sometimes when you are not getting responses. I enrolled in 2 classes on Coursera (Financial Accounting/corporate finance at Wharton) and they have definitely been helping get some of the technical stuff down. What I've been told is that the interviews are tailored to what you know to some extent; it wont be all questions regarding financial statements if they can clearly see you don't have as much experience with that kind of stuff.

Good luck its gonna be a long journey to that SA position!

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Jul 16, 2017

BIWS, create a stock pitch, practice ib interview questions, mock interviews, and network. That's what I'm doing and I'm in the same boat as you.

Just an Undergrad trying to get a job. Something you disagree or dislike about my posts? Let me know by PM'ing me or commenting constructive criticism.

Jul 16, 2017

I'm planning on completing courses from Wall Street Prep and Pillars of Wall Street as they're the only two I got free access to from going to some workshops, but I'm also looking at books to read up or practice from for valuation, modeling and interviews and also just the industry in general. I'm wondering if it would be worth it to purchase the networking guides that are up on BIWS/M&I/WSO.

Jul 16, 2017

For networking, just read the free guides on M&I and use search bar on WSO. I'd get the interview packages from WSO though.

Just an Undergrad trying to get a job. Something you disagree or dislike about my posts? Let me know by PM'ing me or commenting constructive criticism.

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Jul 16, 2017

Wow. You are really early, but that's great. I would think it's going to be very hard, if not impossible to get a finance internship as a Freshman, unless you are connected. There are a few opportunities in special programs as a Sophomore, but the big one is your Junior year internship. For prep, I'd generally read the Vault guide and/or the Wall Street Oasis guides. Joining a Finance club and taking finance courses as soon as possible will also help. I'd also go to the events on campus and talk to people who are recruiting. Get cards from them, thank them for any advice they gave you, and reach out periodically to let them know what you're doing.

Jul 16, 2017

@justcurious456 I have some good connections at bb's right now since I went to info-sessions, and shadowed them during breaks. I'm going to let them know when I submit my application this fall. But, out of curiosity, can those people like basically pull my name from the resume pile, and get me an interview?

Jul 16, 2017

Yes, they determine a good amount of input for the selection process since they are most involved.

Jul 16, 2017

Is it better to nurture analyst connections or those higher up like an MD? Because I heard that analysts are the ones who choose resumes and interviews.

Jul 16, 2017

Analysts will relate to your experiences more, but usually leave before associate, so they are less likely to be there by the time decisions are made. If you have common background or connection with Associates or VPs it would be a better bet.

Jul 16, 2017

What should I tell the connections once I submit my application in the fall? And do they give me hints/imply that they will pull my resume, assuming they really like me?

Jul 16, 2017

Yes, but not this year/next year unless you qualify for sophomore diversity programs. If those people are still around your junior year they will be very helpful.

Jul 16, 2017

Yes, take this time to network and meet as many people as you can.

Jul 16, 2017

Eh I'm kinda on the fence about putting "excel and powerpoint" on there. That really is way too broad and just about anyone can learn it. Put something financial modeling related instead if it is applicable to you and you have some experience with it.

Jul 16, 2017

Agreed, it is definitely fluff. I don't know a ton about modeling though, so I didn't want to put that down as it may open myself up to too many technical questions. Should I just take out the Excel/PowerPoint and leave the basic coding?

Jul 16, 2017

I'll be at Cornell next year, let's ball up.

Also resume looks solid.

Jul 16, 2017

Bump, anything else I should edit/change/fix?

Jul 16, 2017

One last bump, there's gotta be other comments on it

Jul 16, 2017

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Jul 16, 2017