Just accepted my first IB internship
Today I finally accepted my first IB internship position. I am in search of advice though.
The internship is with a MM bank, and I am from a non-target school with an "ok" GPA. The only issue I see is that I am accepting as a post-grad. I will graduate this December and the internship will run until May. I will still need full time employment following this, so does anyone have any advice on where to go from here? I finally got my foot in the door, now I just need to know how to elevate myself to the next level. The bank I accepted with has already made it clear they cannot guarantee FT after the internship is over. Will this internship really do much for me in terms of getting a FT role at another MM or EB? Is it too early to start applying to for FT analyst roles for May/June start dates? Should I be applying to middle office HF positions? Maybe ER? Any help on the subject would be greatly appreciated.
Hi mitchtwitch, any of these topics helpful:
You're welcome.
What skills did you prepare for yourself to get the internship? Really Interested to know
Most of what I did was getting involved in programs at my school that focused on learning to model and running HBS case studies. Other than that, I did a ton of Wall Street Prep repetition.
Studied all of the "normal" interview questions and knew them inside and out, as well as could answer in-depth questions about DCF models, levering and unlevering beta, making assumptions, etc. The other thing is understanding how to back up all of your answers you respond with.
Happy to chime in here, as I was in a pretty similar situation. For context, I graduated 2 months ago, and interned at two IBs prior to starting at third in January. I was told that I would receive a decision regarding Ft status when or close to when I graduated. The best advice was from the analysts and associates I worked with. They transparently told me that I should be covering my own bases and applying everywhere as there was no guarantee that I would get the offer. Before they mentioned it, I had already been interviewing as often as possible for both IB and consulting roles. This firm hired you in a temp capacity and owes you nothing. Ideally, you apply to everything that interests you and see the internship as a backup, and an opportunity to gain work experience while you job hunt. Congrats on the offer, but you should be looking for a FT role, something that will be substantially harder when you are working long hours. In the end, I got my offer but turned it down for a role I liked more. Lastly, I feel as though the internship will only hold weight if you receive a return offer.
Thanks for the input. This thread has been resurrected from the dead (Nov. of last year) lol.
I guess I will update the thread by saying that I was able to interview around at some other shops in the area while still working and was able to secure a FT offer at a different firm. I start the FT role in two weeks time.
Congrats man, sorry for the late feedback. Glad to hear it all worked out
How did you position/sell yourself for a postgrad internship? In a similar situation as you and was curious. Did you target mainly smaller MM/LMM boutiques?
Yes. I think I got really lucky honestly. I had been a part of some finance groups in college and my VP came in to give a presentation on IB. I networked with him immediately following the meeting and was able to get an invitation to their super day. The big difference here was that I was one of two people interviewing for an off-cycle internship due to the fact that I graduated in December rather than May, while all the others there were interviewing for SA positions. There really wasn't much "selling" of myself as a post-grad, because I was doing an off-cycle and they needed the help, I think they weren't really too picky about it.
Also, to answer the question of size, it is small, like FT at is of similar size as well.
Hope that helps.
Nostrum et architecto mollitia dolor at assumenda pariatur qui. Hic quo qui est asperiores accusamus molestiae quia rem. Quasi deserunt et fugit laborum nostrum. Et sunt modi minima officiis vero. Cum laborum ratione officia itaque quo reiciendis. Dicta quis rem velit quia.
Aperiam rerum quia cupiditate sunt enim. Ut est fuga asperiores et eum. Veritatis velit dolorem cumque et fuga ipsum et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...