Title. I'm a rising sophomore at a semi-target (think Nova placement-wise), who hasn't even started networking or learning technicals yet. I also lack relevant internships, this summer I'm interning for my city in their "Finance" department, but it's more accounting and reconciliation. I've heard that only diversity (I am diverse, but the wrong skin color) gets soph SA. On the other hand, I've heard that it's good to get experience doing Hirevue and work on creating a good story for interviews, etc. So is it a waste of time, or should I just apply so I can go through the process as a trial run before junior summer?
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You should start networking now, even if it's for SA 2021. Even if you reach out now and don't connect again for 3 months, it's better to develop your network than be frantic once SA 2021 starts up.
Depending on your city, see if there are any boutique IBs that would let you intern during the school year. That will help you both for sophomore and junior years. Technicals can be learned in ~2 weeks in a crunch... but your job is probably 9-5 so why wait. Start practicing now, focus on the application (WHY does this happen/how does X change flow through financial statements rather than just memorizing answer)
I always think it is good practice to apply now and become familiar with the Hirevues. They are similar year to year and it takes a while to get comfortable with talking to yourself on video. I wouldn't count on BB jobs for your sophomore year, but the type of jobs you'd get as a sophomore are probably not hiring until the fall. The more you can do now of networking/technicals practice/mock and video interview practice, the better you will be for junior recruiting.
Also editing to add, you didn't mention your GPA but from a semi target that is the most important factor.
I fucked up 1st semester and got a 3.415, but then worked harder 2nd semester and got 3.812. Overall GPA is 3.615, is this a deal-breaker from a bank's perspective?
3.6 is fine. Ideally bring it up to at least a 3.7. I know kids who get into BB with even lower GPAs but it takes a lot more networking (be likeable) and a good resume.
Also regarding the off-cycle internship, how does that work logistically? If I have class from 11-2 MWF and from 10:30-11:45 and 1:30-2:45, do I just go work after? Or do I give up my weekends or something?
You could go Tuesday after 12 and Thursday mornings, maybe MWF afternoons as well. Like I said it really depends on your area, obviously if you're 40 minutes from any financial firms it becomes less useful.
I had one semester of an off-cycle internship in college and I had all of my classes Tuesday/Thursday and worked MWF. It really eats into your time though, only recommend if you need don't the max hours to keep up your GPA.
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