New Chimp

I'm sure there are a lot of beginner threads, but I had some some specific questions.

I'm 21, and relatively new to the finance world; I think I want to pursue PE/VC in the long run, IB until I get there.

I'm currently in my first semester as an economics student at UC Berkeley (non-haas). I transferred from a CC last year. I also am planning to take CFA level 1 before graduating. At the moment I'm looking for SA internship positions. I'm primarily looking at BBs and EBs, and have started the application process. However, most of these banks are asking for my GPA at UCB, and I do not have a GPA at UCB because I am a transfer in my first semester. 

Some questions:

What should I do about my GPA? 

How hard is it to get a SA internship?

Would a double major or minor help? And if so, which ones?

Should I try for an MBA? 

How hard is it to break into IBD? (for someone in my position with my targets) and how hard is it to survive?

What are good IB alternatives?

Am I missing anything?

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Comments (9)

Oct 23, 2021 - 8:31pm

Spring 2023, but I might push it back a semester to stay in recruiting cycle + double major or minor. My GPA from CC was a 3.75, kinda let go in the last semester after getting admitted to UCB. Hoping going to CC didn't destroy my chances at IB. After posting this I realized there is no way i'm going to get an IB SA internship at BB or EB with no experience.

Oct 26, 2021 - 12:18am

I highly recommend that you add a semester. This will allow you to gain another summer since most IB recruiting for summer 22 (with FT in 23) having finished. In addition, it would apply you to double major or explore more of the college environment (fun classes, clubs, etc). For double major, I would either do something you are very passionate about or something technical (applied math, statistics, comp sci). UCB is a great school so major congrats on transferring there!

  • Prospect in IB - Gen
Oct 25, 2021 - 1:13am

Push back graduation and wait until you have a GPA at Berkeley and leave your CC GPA off. Source: I transferred to a 4-year from a CC and recruited.

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  • Analyst 1 in IB - Gen
Oct 25, 2021 - 1:16am

Hey, I went to Cal (graduated last year). Not trying to be rude - but from my own experience, ex-CC kids don't recruit well unless they were Haas URMs. 

PWM / Asset Management are good alternatives. Try for an MBA after. 

Oct 26, 2021 - 6:54am

I wouldn't listen to this guy. Went to Cal too and instead of having no GPA, I had a shitty GPA and still made it happen. I've seen CC transfers do fine as well. Something to be said about someone who goes the CC route.

  • Analyst 1 in IB - Gen
Oct 26, 2021 - 11:59am

I'm sorry but I find it extremely hard to believe that you know non-URM / non-Haas transfers that break into banking...

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Oct 25, 2021 - 9:36am

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