2019 IB Full Time w/o 2018 Internship
I am a rising senior at a top tier University. I did not recruit IB this past fall hence I did not get a summer internship this year. This summer I am working at a smaller PE firm. Solid grades, resume, etc but without an banking experience.
If I want to go BB NY full time,
- What are my chances?
- What are some recommendations for what I should be doing now
- What are some things I should be doing down the road?
Thank you for your time and input.
At the very least, you should be networking right now like no tomorrow. FT offers should probably be decided end of July - August and the banks are gonna figure out how many additional FT offers are needed (if at all). You'll be competing against all the interns this summer who want to lateral. It's a bloodbath.
Do you have any networking recommendations given that I am in Chicago currently and trying to go to NY IB? Do you think I'd have an easier time networking in Chicago for Chicago IB and that the odds are too far against me to try for NY?
IB FT Recruiting without relevant internships (Originally Posted: 05/09/2018)
Hi all, for the last 4 years, I have attended a non-target university. While I do have internship experience, my previous internships are not finance-relevant. I will be attending a UK target BSchool postgrad programme (think LBS, Oxbridge, LSE) coming September. When this programme has ended in June, I will have ideally secured a FT analyst position in IB or PE. Problem is, by what I have read on this website most FT analyst positions at investment banks are given to previous SA interns. I don't fall into that category and thus it seems like getting an offer will be even harder. Some investment banks such as GS offer "New Analyst" programmes for people without previous experience and for FT roles. My question is: What will now be the major deadlines and recruiting events to focus on? Are these "New Analyst" programmes promising? And, will the networking events hosted by the BSchool help someone like me in getting an offer? Really happy if someone could shed some light on this!
I would say it depends on your postgrad program. is it an MBA? I will just guess it is a MSc Finance? How long does it last? For the finance master its gonna be 10-12 months for all of them. That means summer internships are out of question. I think your best shot is to attend all on campus recruiting and to network with a lot of alumni. Given your university indication, there should be loads of those.
If it's a two year program you should be able to get one summer in, giving you your first internship and then hopefully the return offer.
It is a Master Finance programme and it has a length of 9 months. That means, there is the possibility of summer internships. I thought these were targeted at second year undergrads though.
I believe that exposure is exposure. After the internship you will not be in the hiring cycle, as the FT offers are usually for the following year, but at least you expand your network and have a higher chance.
Of course you can go for FT analyst roles directly, but I guess your shots will depend on the banks. Might be rather specific. If you're going for an internship somewhere non-London, it is all not that structured, and a master's degree is a much more common route there.
Thanks for the insight, that makes sense. I would definitely consider internships as the most important thing right now is to "have a foot in the door". Then, regarding SA internships, applications have yet to open for non-core/non-target universities, right? There is a lot of talk on the forum currently about recruiting and interviews, but from what I understand that applies only to the accelerated track/target school applicants. Non-core will apply over the normal online portal, am I correct?
IBD FT roles without internship experience (Originally Posted: 05/22/2018)
Hi guys,
A little background on me:
Rising senior at non-target (top 40) undergraduate institution with a finance major and 3.4 cumulative GPA [3.9 major GPA] (many alums in IBD). Also, if I can use this to my advantage on my resume, I had a 3.8 overall GPA for last year (my junior year).
Will be interning this summer as an investment analyst at a publicly traded holding company with ~5,000 employees and over $3b revenues (FT offer available if I perform well)
Bloomberg certification (if at all relevant)
I am currently trying to get into IBD as soon as possible and eventually PE (very far down the road). I understand this will be difficult given my GPA and lack of IB experience, but do you guys think it would be at all possible for me to secure a FT role at a no-name boutique by the time I graduate, if I network rigorously this summer, or is it not even worth my time?
If not, what would be the best FT role that I can try to secure this summer, so that I can lateral from that role after I graduate? I will be doing an equity research program next semester, interning part-time at a wealth management firm, and am confident that I can raise my GPA to a 3.5+ by the time I graduate, which will then make it easier to lateral.
It is definitely possible to get into a no-name boutique or even a MM. I would suggest trying to have a call with someone at a bank 3-5 times a week and get your GPA above a 3.5. Will make your life much easier. Even though your GPA is less than ideal, if the people you network with see that you're motivated and see that you are good with people, someone might put their neck out for you.
That's great to hear. With that being said, do you think I should wait until after next semester when my GPA is a 3.5 and I have both internships and ER experience under my belt to start recruiting for FT roles or just start doing so this summer and continue into the year if I am unable to secure any roles?
Alternatively, if I can't get any IB interviews due to my low GPA, what would be the "next best thing" as far as lateraling into IB after graduation? What industries have the highest transfer rate into IB? Big 4 VA? ER?
Risk Management FT Possible without prior RM internship? (Originally Posted: 03/24/2018)
Hi! I go to a non target (top 25 Business school undergrad) and am an international student. I have completed a Big 4 valuations internship in the past in my home country, but did not land anything in the US for this summer. I am hoping to get into BB Credit RM full time and wanted to learn if it is possible to get in without internship experience. How competitive is it for FT recruitment without OCR? Do BBs hire international students for analyst positions other than IB, S&T, Capital Markets and ER?
WSJack, have you checked out these or run a search:
Maybe one of our professional members will share their wisdom: Nørremark Honest Abe gmill412
If those topics were completely useless, don't blame me, blame my programmers...
Full-Time IB Recruiting w/out Internship (Originally Posted: 04/20/2018)
Hey everyone, I am a junior in college and plan to go through full-time IB recruitment this Spring/Summer, however I won't be interning in IB this summer. I have a 3.6 GPA at a Midwest Target School, interned in PE this fall, and have accepted a corporate finance internship at a fortune 500 company for this summer.
I have been advised to target mid/lower level BBs and MMs, as they are the most attainable given my prior experience.
What are my chances at landing interviews at firms of this nature, and what can I do to best set myself up going into recruitment with no IB experience? Thank you.
I would strongly advise you to look through existing threads on FT recruiting. Aiming for only BB is just unrealistic - most BBs don’t even run FT recruiting processes, and if they do, its 1-2 spots that are only for well-connected candidates (MD referrals, etc). They want to hire every single FT analyst out of their intern pool. Usually they hire more interns than they’d need for FT recruiting and end up cutting that pool down. I had referrals from heads of groups, heads of HR, etc at various BB banks and all of them said "As much as we'd like to get you involved in our
You should cast your net as far wide as possible, willing to take ANY IB job, because FT recruiting is a bloodbath. MMs like Piper Jaffray, Stifel, Stephens, etc tend to have a decent amount of openings during FT recruiting.
I went through the process myself, you’ve got to hustle your ass off and network every day.
Went through the process as well without any banking internship. Has three FT Banking superdays. One MM(no referral), one lower tier BB (whole alumni team referral), top BB (one Director referral). I agree with DalaiLama on the advice.
FT Recruiting With No Junior Internship but FO Sophomore SA Internship (Originally Posted: 09/26/2014)
Hi,
I am a senior graduating May 2015 from a NT with good GPA. I did a FO SA internship as a sophomore at a tier 3 BB but was able to land an internship this past summer despite trying as hard as possible (honestly it was/is extremely frustrating). I am interviewing now at BB's and some other places for FT recruiting upon graduation.
What should I say when asked why I didn't have an internship this past summer? Should I be honest or tell them something else? I instead spent the summer trading, reading and studying books on it, and creating investment theses for longer time horizons when not in the market intraday. I also took two summer courses. I ask because I've all but given up on trying to land a trading position as it seems next to impossible with just a finance major from a NT, therefore most of my interviews will likely be MO or BO. I am concerned that mentioning trading in place of it will hurt my chances given my resume looks like I would fit into trading better.
Thanks for the help.
Appreciate any feedback on this as I'm still unsure.
bump...
FT w/out any internship (Originally Posted: 08/06/2007)
Has anyone done/heard of this? Are certain banks more likely to accept this?
My GPA is about 3.5 at Northwestern majoring in EE/Econ. I'm going to be a senior and had no internship or job this summer.
It happens. Several people from my school got FT offers without summer internships.
Don't look at Lehman Brothers for this. They aim to fill their FT analyst class with their SAs, hence the 2 Term system. The remaining slots come FT recruiting are typically filled by SAs from other banks; however, one girl I know managed to get an FT offer without an internship which is impressive.
Anyway, that is anecdotal so don't count on it.
I know students who got into IB full-time without an IB internship, but they did SOMETHING during their junior summer. It's going to be tough if you did nothing that summer.
have you had internships last year or the year before? what about strong ECs? surely you have some substance in your resume
Econ+EE is tough, getting a 3.5 in mccormick is like getting a 3.8 in weinberg... but im not sure if recruiters recognize this. im not in engineering, so i really dont know.
sending your resume out everywhere cant hurt. make sure to hit up plenty boutique firms
I'm 30 yrs old. I have one semester left in school. I attend Temple U. I'm looking to get into IB. I fine IB to be very interesting. Now i have two question? 1. Is it to late for me to get into IB? 2. IF not, please assist in the right direct to succeed in this field?
I'm 30 yrs old. I have one semester left in school. I attend Temple U. I'm looking to get into IB. I fine IB to be very interesting. Now i have two question? 1. Is it to late for me to get into IB? 2. IF not, please assist in the right direct to succeed in this field?
I can confirm that it is probably next to impossible for one to get an analyst gig at Lehman with no internship experiance. I'm in the same boat as the OP, and hope that a BB firm will eventually give me a shot.
I have pretty strong experiance outside of this summer. However, everyone I've spoken with thus far says that not having done an IB internship this summer is gonna hurt me come next month.
Is there a BB known for giving offers to kids with no internship junior year?
Thanks
bump...sorry, but i'm really curious (and nervous)
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