Sophomore friendly 2nd tier BBs/Elite Boutiques/MM for SA?

I'm wondering which 2nd tier BBs and elite boutiques / MM firms are most receptive to sophomores for a summer internship?

I know that most BBs have programs specifically to address this but I've heard that unless you're a URM/female,you can't really "network" your way into one of these programs. But are there any exceptions?

I'm thinking firms like BNP Paribas, Societe Generale or HLHZ.

Assuming I network like a beast, do you see sophomores doing SA at these firms?

Region
 

any firm out there is friendly if you demonstrate right things and you have strong profile

networking "like a beast" does not have much benefit to people that do not have strong social skills

there is no rule dude people lack so much common sense, no wonder why so few really make it

 
Best Response

BX operates several sophomore programs, although they typically only hire 2-3 candidates per year in each group (BAAM, M&A and PE Portfolio Operations) and it appears to be a diversity program to some extent. In addition, interviews are given almost exclusively to kids from Harvard/Wharton, so keep that in mind. I have seen Blackstone hire sophomores for Park Hill though so that could be a possibility.

JP Morgan's freshman/sophomore IBD program is not a diversity program although it is extraordinarily hard to get into. Goldman hires sophomores (IBD is almost entirely diversity-based while some divisions, like IMD/Finance/Operations, are not). Morgan Stanley, Barclays, Deutsche and BAML all operate diversity-based sophomore programs.

BNP hires sophomores, but will only give you a shot if you network. Soc Gen takes sophomores as well. I'm not sure about Houlihan Lokey but, with networking, anything's possible.

Note that as firms get smaller it becomes far less likely that they will offer sophomore positions, as they hire from intern pools for FT and sophomores undermine the purpose of their programs. You can always network and try to get in.

 
7xEBITDA:

BX operates several sophomore programs, although they typically only hire 2-3 candidates per year in each group (BAAM, M&A and PE Portfolio Operations) and it appears to be a diversity program to some extent. In addition, interviews are given almost exclusively to kids from Harvard/Wharton, so keep that in mind. I have seen Blackstone hire sophomores for Park Hill though so that could be a possibility.

JP Morgan's freshman/sophomore IBD program is not a diversity program although it is extraordinarily hard to get into. Goldman hires sophomores (IBD is almost entirely diversity-based while some divisions, like IMD/Finance/Operations, are not). Morgan Stanley, Barclays, Deutsche and BAML all operate diversity-based sophomore programs.

BNP hires sophomores, but will only give you a shot if you network. Soc Gen takes sophomores as well. I'm not sure about Houlihan Lokey but, with networking, anything's possible.

Note that as firms get smaller it becomes far less likely that they will offer sophomore positions, as they hire from intern pools for FT and sophomores undermine the purpose of their programs. You can always network and try to get in.

Quick question to you. For resume building, do you think it would be better to attend a two day program such as the GS UG camp or intern somewhere if you could. If hypothetically, you wanted to eventually work at Goldman?

 
7xEBITDA:

BX operates several sophomore programs, although they typically only hire 2-3 candidates per year in each group (BAAM, M&A and PE Portfolio Operations) and it appears to be a diversity program to some extent. In addition, interviews are given almost exclusively to kids from Harvard/Wharton, so keep that in mind. I have seen Blackstone hire sophomores for Park Hill though so that could be a possibility.

JP Morgan's freshman/sophomore IBD program is not a diversity program although it is extraordinarily hard to get into. Goldman hires sophomores (IBD is almost entirely diversity-based while some divisions, like IMD/Finance/Operations, are not). Morgan Stanley, Barclays, Deutsche and BAML all operate diversity-based sophomore programs.

BNP hires sophomores, but will only give you a shot if you network. Soc Gen takes sophomores as well. I'm not sure about Houlihan Lokey but, with networking, anything's possible.

Note that as firms get smaller it becomes far less likely that they will offer sophomore positions, as they hire from intern pools for FT and sophomores undermine the purpose of their programs. You can always network and try to get in.

Just curious cause I can't find much information on BX's Park Hill Group. Is Park Hill just a fund/AUM raiser for RE funds?
 

It's all about networking for frosh and soph summers. Speaking from experience, the only way you'll get anything is if you actively pursue jobs (as opposed to simply dropping the resume). Family contacts are probably your best shot overall at this stage, and you should think about being willing to work for free. Definitely talk to recruiters when they visit for the info sessions and sell yourself!

-- Support WSO.com and visit these links! Financial Modeling Training Guide to Finance Interviews
 

Email your alumni. Ask them if they're able to keep in touch and to answer some questions you have.

- Bulls make money. Bears make money. Pigs get slaughtered. - The harder you work, the luckier you become. - I believe in the "Golden Rule": the man with the gold rules.
 

Very few sophomores get SA positions at BBs. Of course, getting such a position will set you up very well for a junior internship- you're essentially guaranteed a return offer from the bank you interned at sophomore summer. Regardless, I would say most juniors w/ SA positions (prob ~90%) did NOT have a prestigious sophomore internship at a BB (I'm talking a FO role or within a sophomore program).

 

If the boutique is IBD, it's typically better on your resume to have "investment banking summer analyst" as a sophomore than anything else. It shows you went out younger than most and got what you wanted and it'll count more for you in the end.

It is possible and it definitely plays more favorably into your junior SA, i.e. if they already know you, you'll get better group placement for junior SA which leads to better placement for FT, which may let you leverage at another bank. Unless you're already at the bank you want to be for FT, in which case it's all about upping that rating for placement.

I am permanently behind on PMs, it's not personal.
 

An IB internship anywhere sounds awesome sophomore year. After my sophomore year I sat around hacking around the golf course during the day and playing poker at night. You'll definitely be in a lot better shape than me!

 

People here in Canada would kill just to get an IB summer internship with BMO after 3rd year and you managed to swing it after your 2nd year and you're asking if it's beneficial, lol!

 

Haha, can't wait until I get a Big 5 Bank internship during my Sophomore summer.

Congratulations! Honestly, that is amazing.

Hope that makes you feel better about getting BB during your Junior year. :)

 
olafenizer:
Go do something fun like study abroad or find an internship overseas or even take pilot lessons.

IBD is actually the most fun you can get when you are doing an IBD internship, especially if you are the youngest person there joy from earning money is a transferable thing between men

 

IBD/other FO at a BB in your area..

visit them personally, show them that you have the right attitude and balls..

i did it as a non target - you can do it too.

if nothing, you will gain some valuable contacts.. if you cant get an internship, ask for shadowing & networking. it will give you a huge advantage next year..

 

@animalz: I'm not saying an internship in an investment banking group isn't fun, and while the OP threw out a lot of different field names, he never clearly stated which one he wants to pursue. He attends a target school, so everybody and their brother is going to be gunning for the same spots come the summer after junior year. He needs some way to differentiate himself, and while a semi-related internship might help, in my opinion its best to do something off the "track" now while one still has the chance. Summer after junior year you'll ideally be in the internship of your choice and the summer after that you'll be starting work.

 

It's doable. Every year, there are a couple of sophomores among the summer classes at the bulge-bracket firms. Start talking to contacts (alternatively, start making contacts) about it, however, as you are unlikely to be successful via on-campus resume drops alone.

"There are three ways to make a living in this business: be first, be smarter, or cheat."
 

I actually did study abroad and summer school last summer lol. I'm not set on which field I wanna pursue yet -- IB/Hedge Funds/PE/Management Consulting all seems pretty interesting to me.

Yeah, so I've been hearing a lot about "making contacts", but I don't really get this concept. So, suppose you go to a networking event, meet with some alum from company X for like 1-2 hours... how is it going to help you get an internship?

 

By letting everyone that you have remotely met, know that you are looking for internships in investment banking.

Also, finding firms just through Google search and LinkedIn. Find the firms, find out who works there, contact them and ask to meet up and chat. Put more eloquently, obviously.

6-9 months to actually establish a relationship, less than 6 if you just are contacting to ask for a job.

"There's always money in the banana stand" - George Bluth Sr.
 

Sophomores also may have some luck with OCR - more difficult than for juniors but still worth trying.

Other than that, networking and school's career site are the best bets

 

I am currently doing an IBD internship at a BB as a sophomore, so maybe I can give a bit of my perspective, especially because the bank I am at doesn't have OCR at my school. I think people here often over emphasize pedigree and under emphasize hustle and people skills. I do go to a target, but didn't have an OCR interview for any of the internships I applied to and interviewed for, so this advice is generally equally applicable to students at non target schools.

In established programs you can probably get a good timeline for when they will do their interviews for sophomore positions, usually late December to March. Obviously smaller places might not have info as publicly available but you should be able to find out by reaching out to people there anyways. I started reaching out to people across all different places when I stepped foot on campus beginning of last fall.

Nothing much, just trying to find out about people's experience and showing a genuine interest in the work. I think a really key thing is to try and ask questions that show your curiosity; people bag on finance all the time for not being intellectually stimulating, and that is definitely true when you are reformatting a powerpoint slide for the 8th time early in the morning, but on a higher level it can be very intriguing. If it is a job that genuinely interests you you should be able to find out how interesting it can be pretty quickly as you look more into the work.

After chatting on the phone with people and finding some sort of common ground, either through sports or interests or prior work experience, I would usually shoot them a thank you email for being willing to chat and then occasionally send them something to loop them into what my progress is, and asking them if there was anyone else at the bank I should talk to. I would almost always get referred to someone else to chat with at the bank, so your one contact grows out like a spider web based on internal references. You only need to hit it off with one person to gain a solid foothold in a bank.

Depending on how comfortable I was with the person after we talked for the first time, I would let them know I was interested in applying to their sophomore program and ask them if they would be willing to submit my resume to HR. I don't get why people beat around the bush for this. This is obviously what you are hoping for by reaching out, and you should have sufficient tact to understand if someone thought well enough of you that they might be willing to submit your resume. As the number of people I networked with at the bank grew, so did the amount of people I had sending my resume to HR. I interviewed at every place I applied to, problably because HR had six different copies of my resume from six different people at the bank.

One final thing would be to not limit yourself to only reaching out to your own alumni unless they are very responsive and widespread. I haven't yet met a person I couldn't establish some sort of connection over something with, even if we didn't speak the same language. Just because you didn't go to the same school doesn't mean someone won't be willing to talk, and you have nothing to lose by reaching out and trying.

 

You don't have to work at a BB your sophomore summer. Go for a regional or well-known bank and try to get a middle office position such as risk mgmt. Risk will help you understand the workings of their business model and you can apply that to your junior internship

 
MadCatz:
You don't have to work at a BB your sophomore summer. Go for a regional or well-known bank and try to get a middle office position such as risk mgmt. Risk will help you understand the workings of their business model and you can apply that to your junior internship

How would you suggest in looking for such jobs? Cold-calling or submitting resumes online?

 

Hello,

I am also a sophomore, and I go to the University of Michigan at Ann Arbor. I applied to sophomore rotational programs plus on-campus pre-select job posts.

I am getting some responses back now that it's the interview month. Look around, there are plenty of opportunities for sophomores.

  1. Apply to on-campus pre-select jobs.
  2. Apply to sophomore rotational programs (diversity programs) on-line
  3. Contact your school alumni always mentioning their alma mater status and what not.

Good luck to you guys.

Best,

Best, SoulSearching
 

I'm also a sophomore and I would appreciate any internship suggestions by PM.

I have a 3.7 at a target, but I don't have any family friend connections, and I don't think that I'll get any OCR interviews because they are mostly for juniors.. Applying directly on the firms websites seems like such a longshot.. Any ideas? Thanks!

 

I'm also a sophomore at Penn and have been networking my ass off by cold-emailing alumni of the newspaper here (there's a newspaper alumni directory that they volunteer their info for). A couple MD/VPs/associates emailed me back and asked for my resume and that I should call them. What can I do to have a chance of turning the call (I asked if I can call them to ask for advice and have them talk about their own experience in finance) into an interview for a summer position?

As for the above post, it sounds like you're an athlete with a 3.7 at Wharton. Banks love athletes (Lehman came here and gave a presentation targeted towards athletes), and I'm sure you can find plenty of former Quakers working in banking. Ask seniors on your team if they know anybody, your coach, etc...Also apply to the sophomore rotational programs and banks that take sophs as SAs (Macquarie, GS, Bear off the top of my head); you'd be a strong candidate.

 
brisbane:

I'm also a sophomore at Penn and have been networking my ass off by cold-emailing alumni of the newspaper here (there's a newspaper alumni directory that they volunteer their info for). A couple MD/VPs/associates emailed me back and asked for my resume and that I should call them. What can I do to have a chance of turning the call (I asked if I can call them to ask for advice and have them talk about their own experience in finance) into an interview for a summer position?

As for the above post, it sounds like you're an athlete with a 3.7 at Wharton. Banks love athletes (Lehman came here and gave a presentation targeted towards athletes), and I'm sure you can find plenty of former Quakers working in banking. Ask seniors on your team if they know anybody, your coach, etc...Also apply to the sophomore rotational programs and banks that take sophs as SAs (Macquarie, GS, Bear off the top of my head); you'd be a strong candidate.

Aside from good questions, just show high, high interest in the position and the firm.  It's not like sophomores are lucky enough to receive ~5-6 SA offers, so if you can make it sound like you are highly enthusistic about working for the firm, it'll help, because they know that they odds are high that you'll end up signing if u end up receiving an offer.  Also, talk to HR and send your stuff to them.

 

Sorry to burst everyone's bubble, but many (if not all) of the BBs's SRP deadlines have already passed. That, however, doesn't mean you can't apply via conventional methods (through the website or your career services center)

 

What are your general stats? GPA, Previous Exp, Ex curricular?

At first glance, keep networking and trying. Perhaps try using Capital IQ and Bloomberg to find contacts.

"I swear by my life and my love of it that I will never live for the sake of another man, nor ask another man to live for the sake of mine."
 

Of course under-aged anonymous non-target student of ambiguous qualification! Let me just look through the old rolodex and go to bat for you with all my friends in the industry by asking for job openings for you!

“Millionaires don't use astrology, billionaires do”
 

Sorry for the ambiguity.

For specificity's sake: Cumulative 3.6 GPA State School Honors Program WM Internship @ BB Heavily involved with School's investment fund (Leadership/Executive Role) Also Heavily Involved with School's investing association (manage and educate 20+ students in my sector) Various Other non-academic EC's (volunteering and intramural related) Experience with DCF/FCF modeling (GP and EM models) Equity valuation with comparables analysis

-School lacks Wall Street alumni.

Really passionate for the subject and always seeking new ventures.

dum vivimus vivamus
 

You're from Canada, so it's going to be very tough to land something IB relevant (The Canadian banks don't have formal IBD internships for sophomores).

I would suggest applying to anything finance related: smaller boutique firms (Theres quite a few on Bay St), F500 corporate finance, risk management etc.

Also, if you want to give yourself an edge when applying, I might suggest taking the CSC during the school year. It shows you're interested in finance and Canadian employers will view it favorably

 

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