Is April/May too late to find an Internship?

Hello fellow monkeys,

Is it too late for a freshman summer internship? Would I still be able to get an internship at a PWM firm or a small boutique bank? I know it is my freshman summer, but I really want to be competitive and have some work experience to talk about for future interviews.

Thank you.

 

I'm in a similar position and it seems most formal internship programs are filled at this point. However, if you can reach out to mangers within banks I have found some responsive to taking on an intern in an informal/unpaid capacity. I think you would accomplish your goal of building your resume and having experience to reference for next summer.

 

One of my professors who I took a class with a year ago is a partner of an elite boutique...... Can I contact her for networking or asking for an unpaid job? ...........

kqrckfls
 
Best Response

You are definitely late to the game, but late does not necessarily mean out of luck. You definitely need to hit the pavement and make a big push. I would reach out to your contacts, alumni, etc (better late than never), and check to see if they have any advice (essentially any potential help). From there, keep checking your career services center as postings frequently come out late in the season for smaller shops, and check Craigslist, efinancialcareers, etc. From there, make the push and start cold calling local firms - small shops, but at the end of the day, relevant experience, regardless of shop, is better than no experience at all.

Additionally, and this goes for the poster who checked into IB as well, keep your options open and cast a wide net. Essentially, look to anything relevant to the field - AM, IB, P/E, S&T, PWM, Ops, Consulting, Control, Corp Dev, etc. Landing an internship this close to graduation is definitely a big help to FT recruiting. Therefore, focus on landing an internship, building some experience, marketing it well and reaching out to alumni, etc next year. The first and most pressing step at this point is definitely in landing an internship.

Check out this article on internships outside of IB and their relevance to the field: http://www.bankonbanking.com/2010/03/15/no-summer-analyst-ib-offer-%E2%…

Good luck.

 

Ya youre definitely late. Sounds like you know that though so that's good. And props for realizing that now rather than halfway through your senior year, or the day before graduation, which was the method many of my friends tried out.

A good route to try might be local financial advisors in your area. May not be the most exciting job, but its a job, and will help to beef up the resume a bit. If you find a "family office" or a place ran by 3-4 guys, there's obviously much less administrative overhead bs that needs to be taken care of for you to start working. So look at the road less traveled. Everyone flocks to Smith Barney, Raymond James, etc but not necessarily to the little guys. On the downside, there's no name recognition but all the more motivation for you to bust your ass to have great experiences to discuss.

 

Shoot for smaller places, and just ask if they are looking for help.

I just recently interviewed, only after giving up all hope. Got a call from a small bank who happened to decided to hire an intern. They had my resume from a bit of networking that I did at the beginning of the year.

Ended up getting offered just this month, a couple weeks before start date.

 

You're late but it doesn't mean it's over. I would start sending out emails and looking around websites to see which companies are still looking for interns. Are you bothered about staying in the US because I know that here in Europe AM firms are still looking for interns.

 
Sil:

At this point, I would just be straightforward and ask if they are still looking for interns.

Agreed. You don't have any time to waste. Swing for the fence and keep it moving.

"Even if you're on the right track, you'll get run over if you just sit there" - Will Rogers
 

I got an internship in mid-June during my finals week (my school was on quarters, so we got out mid-June). Anything can happen. And who knows? Needs change based on deal flow, and if it's a small firm, an additional deal could mean that they would start looking for interns in June, and I'm sure they would have a hard time filling that spot.

Make Idaho a Semi-Target Again 2016 Not an alumnus of Idaho
 

Idaho - Thanks for the response, good to hear that something is still possible.

Otto - Of course, apologies if it sounded like I wasn't going to take it if I couldn't find a boutique internship - I'd definitely take it.

Finally got a response and I'll be meeting up with an investment group on Monday. Not quite banking but definitely sounds like a good experience. Thanks guys.

 

Call, don't email and no, it's not too late for PWM.

[quote]The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.[/quote]
 

Call up a local brokerage and ask if they want some help, tell them you want to do an internship. Also, ask your parents or their friends if they can ask their broker to take you on as an assisant in the office for a few hours a week. Barring that, just start emailing people and knocking on doors.

Seriously though, enjoy this summer. If you do finance, this will be the last time until your mid 20's.

Get busy living
 
snowballer:
Does having a PWM internship as a HS senior really even matter that much? Is it going to open any doors really?

I started off in junior year (HS) in PWM, didn't actually do that much but definitely learnt a lot plus made good contacts and earned some cash. Even though it's not that relevant to what really interests me I'd say it was useful, it proved I was interested and driven to work in finance so it should help in getting you to the interview stage.

[quote]The HBS guys have MAD SWAGGER. They frequently wear their class jackets to boston bars, strutting and acting like they own the joint. They just ooze success, confidence, swagger, basically attributes of alpha males.[/quote]
 
snowballer:
Does having a PWM internship as a HS senior really even matter that much? Is it going to open any doors really?

I KNOW SOMEONE WHO DID A PWM INTERNSHIP AS WELL AS SEVERAL OTHERS DURING HIGH SCHOOL, AND THE SUMMER AFTER FRESHMAN YEAR OF COLLEGE HE DID GS IBD

 

Contact your alumni at BB PWMs. Sure they would be happy to take you for the summer.

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
dosk17's picture
dosk17
98.9
6
DrApeman's picture
DrApeman
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
GameTheory's picture
GameTheory
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”