Need advice for getting any internships summer 2020 and 2021
I recently just got into investment banking since April 5, 2020. I’ve been grinding it out since then everyday trying to learn. Sadly, I have no internship experience in anything and I am a junior at the McCombs business school studying finance with a shit gpa of 3.3232.
I made this decision going into investment banking right after I quit a full-time job in affiliate marketing for 4 years. It was a small private company but we did over $1 million profit annually whereas I earned 18% of that a year.
I quit because I wanted to pursue this field. I really want to find an internship that will actually help me experience ib this summer as well as next summer. Kind of clueless on the timeline for recruiting but what are the odds of getting some elite boutique next year? When should I be applying and networking? I don’t care where in the world the offer is, I’ll take it. any suggestions for banks?
First of all, where is your location. Regional boutiques are probably the way to go - but Id like a little more info to give you a more informed decision
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I live in Houston as well as Austin(apartment). But I would definitely want to work in New York, California as preference or even overseas maybe in Singapore.
SA2020 hiring happened a year ago but you kind of get a pass this summer with so many internships getting cancelled. If you're planning on graduating in 2021 you need to be recruiting full time, or take a 5th year and bust your balls for SA2021.
Recruiting is happening right now for 2021, McCombs has some specific rules/delays for on campus recruiting but they might not apply right now. 5th year is totally acceptable but these are extremely competitive. EBs generally want high GPA, networking, and prior experience. I think you check the box on prior experience and I might bring you in just to ask you about the affiliate marketing, but you need to network heavily to get over your GPA.
180k a year is more than you make as an IB analyst, might just stick with that
Yeah, I’ve actually made the decision to take a 5th year since I was told that was the most optimal route. I understand that analysts probably don’t make as much as what I did previously but it is more a of personal problem for me in a sense that I am looking more for prestige rather than money at this point. I guess my next question to this is if recruiting is happening now for SA 2021, does that mean interviews are going to be over the summer? I haven’t even really started much of the wall street guides since I’ve just been trying to network.
Some/most recruiting has already kicked off, interviews tend to trickle over the summer and wrap up in the fall.
Definitely focus on networking right now, fire on all cylinders there. Put a few hours a week into technicals prep but as a finance major you likely understand basic accounting and can do a DCF. M&I 400 is available as a PDF and should be your interview bible.
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I'm in the same boat brother, currently at a tech startup, taking a shot at some IB analyst roles next year.. currently focusing on CFA prep, DCF, LBO, and Comp modelling, Python programming and networking with as many people as I can. from now until 2021 it's just head down and grinding.
anyone have any other recommendations?
Yo do you wanna connect on telegram or Skype? Could possibly share good info with each other.
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