Does anyone know of any middle market investment banks that have in the past hired summer analysts that were in sophomore year? Do Middle Markets like Moelis and co. only consider junior year students for their summer internships? Thanks for any help guys!
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Yes, I am interning for one right now and I am a sophomore. It also depends which banks though... The more prestigious MM banks, like Moelis, probably not simply because there is a large pool of Juniors applying there as well. The smaller, less well-known MM banks in NYC do take sophomore's, but you are still competing with Juniors regardless. Just not as many. The less well-known banks you have a really good shot at, and its still great experience for a sophomore. For people our age, the name of the bank during your second year really does not matter as much as it does in your third year. Good luck
Thanks! That is really amazing you are already working at a mm as a sophomore! Which banks are considered less well known in NYC that a sophomore would have a good shot at? What was your approach at finding an internship at a MM? Did you network your way in? Or was it cold-calling? I appreciate your help! Thank you very much.
I will also be working for a top MM investment bank. Elite boutiques can afford to be selective enough in that they will not consider sophomore candidates, but many middle market firms do make exceptions in their hiring policies.
hahahah nice troll.. "middle markets like moelis". i think BX is a much more doable middle market firm for sophomores :)
Same was said by multiple posters. Classic.
I was under the impression that moelis was a MM? =)
I think you need to read about what MM means.
What are some NY MM banks with tech groups that take sophomores? (Originally Posted: 12/19/2014)
I know of places like Pesky Prunier and Waller Capital, but what else? I'm not too keen to go to a boutique (Stifel, Piper, RBC, ect.. I know for certain they don't take sophomores.
Thanks in advance.
Bump
Do MM Banks take Sophomores (Originally Posted: 07/07/2012)
I'll be a sophomore in the fall and am starting to network for internships with the goal of BB SA two summers from now. I've done a few informational interviews with analysts and the like from mid market banks and many of them have told me that they only consider juniors for SA positions because 1) they are more knowledgable and 2) the bank can give them a return offer if they want to hire them. My question is how do I avoid this issue, or should I even bother? Shoot for smaller banks? My best shot will probably be at a very large MM where I have a family connection, however this is one of the places that I have heard "we only take juniors" so should I just continue networking, learn everything I can in the mean time, ask about internships later, when they say no sophomores I reply "I'm very knowledgable, would work for free," etc. something like that? Any advice from people who got around this?
Best way is to be sneaky about it.
If you know they don't diligently check transcripts, just say you're graduating a year early. At the end of the summer - "ya you know what I actually want to take some more credits"
Happened to my friend, now he's pretty much living the dream a year later.
This is pretty sneaky.
Everyone does this who are aware that they can lie and get away with it. I personally do not recommend it. But at a certain school, I won't say where. This is very prevalent and needs to be prevented since it really tarnishes chances for juniors who are in real need of jobs from getting them and the spots going to sophomores who are obviously in it to act like they deserve it. This is even though they are leaving a lot of people who actually qualify out of the running. This is a huge issue but I don't think HR would be willing to fix this any time soon unless they find that one organization does this every year particularly which is the case at certain schools.
dude, i got a SA position with a BB as a junior
i have had a few offers at MM banks
of course they do.. if you can get to talk to someone there personaly, and not just the HR, you might get your shot
/thread
^what are you trying to say here, I was saying these roles are almost exclusively reserved for juniors
So besides flat out lying to them (won't do that with my "best shot" because if they found out I was lying they would tell the family who recommended me and I would make them look like shit), is my best option to try to schmooze my way into an interview and then wow them?
sorry man, its a different system in my country - not so familiar with the sophomore/junior terms
i guess that i wanted to say that i got those internships as a sophomore (not junior)
update on this bank i've been talking about. My family connection is helping to connect me with the CEO of the bank. this is, of course, a great opportunity but i'm not sure how to play it. i don't know if i will just be emailing them/phone call/meeting in person. I really have no idea on how to manage this and don't want to fuck it up. "informational interview" bullshit like I do with everyone else? flat-out tell them i'm looking for internships next summer and i'm exploring my options?
WAT DO
^ ahh, got it.
any advice on how to approach this?
i wouldnt use that bullshit terms like "informational interview"
what you want to do, is to present yourself to that CEO as a hard working, good, and polite kid.
make a call if your family connection can help you to get a number (check what is the appropriate time and tell your connection to introduce you) be extremely polite (dont worry if you are nervous or something) and ask to meet in person in order to ask about the industry, job, culture etc. - any time when the CEO finds the time (when you actually meet him, dont go much about techical questions or asking bs like "why isnt it so great like before etc..").. shoot for the personal questions
do some research on him (so you know his interests etc), and make sure that you are full of the interesting questions (dont ask bs like: how does your typical workday look like.. or stuff about work-life balance) cant give you much advice on this, its up to your inteligence.. just focus on the reasons behind why you want to follow that career path.. firm handshakes, bright look directly in his eyes (not like a maniac) and keep a smile show him respect - that is the least you can do.. small things like being overdressed and overpolite are way better than underdressed/not polite
so what you want is to simply meet the the CEO !!in person!!, and present yourself as someone with whom he would enjoy to work with - pleasant person before all
prepare the questions also for the telephone call and be extremely polite, but also dont waste his time if you feel like he is busy
hope that helps a bit, im broken from the todays work, cant think anymore
I interviewed at three BB or elite boutique banks as a sophomore. Only 1 realized I was a sophomore before the interviews. Theoretically, I could have gotten the internship if I had nailed the technicals and didn't bring up the fact that I wasn't a junior. So apply and maybe they won't notice your graduation date.
thank you for the great advice. I know this is kind of a "if you have to ask then..." question but it really will be up to basic social intelligence/interpersonal skills.
Yes, some MM banks take sophomores (if unofficially). I know of at least 2 cases off the top of my head where sophomores got IBD internships, but both did a bit of solid networking and had senior bankers pulling for them, so the way you're approaching it seems to be on the right track. Best of luck.
Also, many OCR resume drops are closed to certain grade levels, so you can't just submit your resume and hope they don't notice your grad date; you'd have to actually go into the system and change your expected grad date, which may be a bit of a process. Not sure about OP's school obviously, but that's how it worked when I was in college.
this.
Where can I go? (MM/Boutique/etc- sophomore summer) (Originally Posted: 02/22/2008)
My GPA is a 3.3 (good reasons behind it), plenty of ECs and leadership,Shark Fishing(it's a sport?) majoring in finance(haven't actually taken a finance class yet) from a non-target. I have a 1320 SAT. I am a world traveler.
I don't have any preferences when it comes to location, but NY would be nice!
Can anyone clue me in as to where I would have a shot of getting accepted?
Is this post for real?
Yes.. Too vague??
I don't mean to be offensive, but your qualifications at this point do not give you a viable shot at many banks. The GPA needs to be higher and the SAT is not good, so I would not list it on the resume unless you are requested to do so. Your best shot is to try to get something finance related through a connection, such as a friend of the family.
My sat scores are better than the person who got into Goldman(IB) from my non target last year(with scores reported on resume)... And another kid got into BS from internet based drop off with about the same GPA as me. And he didn't have to go through the hellish year I had to go through in order to get that GPA.
I would at least think I could get an MM or Boutique bank...
i think you are aiming too low. even though your sat is not too spectacular, you seem smart and involved. i would be applying to BBs like Goldman if I were you and banks like Lazard, etc.
Thanks for the positive words, Guts.
Wish I could, but aren't BB's done with the recruiting for the summer? All the kids I know have already had super days at Goldman/ML/etc.
I know my stats aren't nearly as good as they should be. I also know that until I can secure a transfer, I wont have high chances to do BB or anything fancy, but I thought that I could get something in the right direction.
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