I’m lost any help??
I'm a sophomore at a non-target university in CT. I just switched to a finance major last fall and also learned about investment banking around the same time. I've got no relevant experience to banking however I am trying to secure some kind of banking internship this summer. I have a 3.5 gpa and made Dean's List every semester and I just joined the schools Economics and Finance Club. I have been working at a dealership for three years now, so it's not like I've been doing nothing outside of school. On top of this I have not started networking yet, but after talking with my mom she knows a few people that know people on the street, so my first plan is to get in contact with them and find out what they do and if they can help me.
I just read that banks either have closed or are closing their applications for 2019 internships soon. I'll be honest. I don't know much about banking and models just yet however I have been reading A LOT and watching many videos and just trying to learn as much as I can. I know I am at a disadvantage against target school students, but I'm a quick learner and if I had a shot at an internship I know I can prove myself. Buttttt anyways how fucked am I? Also if anyone has any advice for me on what they would do in my situation I would gladly appreciate it. Thank you in advance!!
So you're not screwed but your not in a good spot. You need to focus all your energy on figuring out what Banking is so that you can then start networking and have good questions to ask. Throw in your applications to all the major firms (don't want to throw away an opportunity) and hope that you can make something happen.
Find anyone from your school alumni base that works on the street (alumni information or Linkedin stalking) and start emailing away.
I’ve been reading and watching videos about finiancial modeling, taking accounting and quant classes in school at the moment, so I’m trying my best to learn the stuff even thinking about buying a program so I can learn the financial models better. Also what would be some good questions to ask when networking ?
To piggyback off of this, I agree you are not in a great spot but not in a terrible position either. I wanted to mention something though: I was at a semi target and I filled out 120+ applications to investment banks of all shapes and sizes when i was in your EXACT position. Fine GPA, some work experience (but not relevant, I was at a law firm for 2 summers one at a tech startup), and I THOUGHT IB was something to work toward. I had joined IB courses at my school and the IB club which was somewhat competitive. Out of all of those applications I received ONE response from a small M&A advisory firm out in NYC.
What I learned:
Hope that helps a little
If you're a white male at a non-target university (you may not be, if you're a diversity candidate this may not apply to you as much), your GPA and extracurricular activities would be considered weak I would say. I was able to land IB SA from a non-target, but I had a 3.9 GPA, was captain of the swimming team, had leadership roles in various finance clubs, and had networked like crazy. I'd be willing to bet I sent out over a thousand emails reaching out to people. This may sound insane, but if you can push your graduation back one year, it would really be to your advantage. If you're serious about banking, pushing back one year would give you the opportunity to pull your GPA up (really should be at least a 3.8) and take on more leadership roles in finance clubs at school. You'll also get to have a "freshman" summer internship which is really important because recruiting for SA 2019 has already started and the timeline is only getting earlier.
Assuming your school has some on campus recruiting, go to EVERY info session. Connect with one of the presenters at EVERY info session. Send a brief email thanking them spending the time. Stay in touch with them, without stalking them. Let them know you took a leadership spot on the finance club, etc.
If you have NO on campus recruiting get good at finding alumni on Linkedin and sending intro emails. It's a numbers game. Timing is everything. Lot of luck involved. Learn what you can in class, in clubs, private reading, etc. and be ready when the right moment arises.
Think of this as your first Sales job. It really is. Everything in business (and life) is in many ways.
Best of luck.
Thanks for the help. My school actually attended had an on campus recruiting session last week and I attended. Nothing major recruits at my school. However I did talk to the people representing Webster, Key Bank and Fidelity Investments. I need to get some kind of internship under my belt this summer.
a 3.5 is deans list at your school...? Nonetheless, what kind of non-target are we talking? uconn?
I go to the University of Hartford at the time of applications back in high school I wanted to do criminal justice, so I didn't apply to uconn seeing as they didn't have a cj major.
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