Comments (104)

Nov 23, 2017

bump

Nov 23, 2017

Verizon would be a solid internship before your Jr. year. It certainly wouldn't exclude you from IBD summer opportunities the following year.

Nov 24, 2017

thank you!!

Nov 24, 2017

Well, the last one is obviously useless, but the other two aren't. Reading over the BNY Mellon one, it sounds almost like HR. I think the BoA option is superior, imo. Bear in mind I'm in undergrad myself, so others advice is probably more valuable

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Nov 24, 2017

BNY Mellon looks like ops to me, while BoA looks tech...you can parlay what you learned about the markets in that position to an IBD interview if you spin it right.

Nov 24, 2017

BofA Tech

Nov 24, 2017

but would BoA tech pigeonhole me? I have some other tech experiences in the past too..

Also, what do you guys think about the second question?

Nov 24, 2017

bump

Nov 24, 2017

does pigeonhole, but that's why you have 30 minutes during an interview to spin your job.

Nov 24, 2017

Leggo is right, the tech position obviously isn't ideal but it's the best offer you've got. Use that position as a way to network within the bank--speak to as many people as possible in the IB and express your interest in the corporate finance program. If you make a good impression you can position yourself well for next recruiting season.

You'll have to do this tactfully of course (do a search for going from back office to front office positions there is a plethora of information on this site from people who have made the jump).

Nov 24, 2017

Although PWM is not ideal, it'll place you well next year seeing you're a sophomore.

Being in NY will also give you more networking opportunities, as opposed to being in China.

Nov 24, 2017

Please keep in mind that my goal is to land a BB internship in Hong Kong, not NY.

Nov 24, 2017

In that case, I'd say 1) or 2)

But still leaning towards 1)

Nov 24, 2017

I'd probably do #2. PWN internships are generally looked down upon because they convey almost nothing about you as a candidate as they're a dime a dozen. Seeing as you really want HK as opposed to NY, I would go #2 followed by #3.

Nov 24, 2017

My vote is number 2. It will make you standout since every other person has a PWM internship and most people know that you don't do jack during a PWM internship.

Nov 24, 2017

I had a BB PWM internship, didn't do jack shit. Go with #2 for sure.

Nov 24, 2017

2 is the most prestigious and most relevant to where you want to end up

Nov 24, 2017

#2

Nov 24, 2017

Thanks for the opinions guys!

My only concern with #2 is that the name, albeit well-known in the circle of people who are in the industry, is obviously not as well known as the bulge bracket.

Is this concern unfounded?

Nov 24, 2017

Yes. If it is well known in VC/Finance, then you'll be fine. BB PWM internships are so commonplace that I view them the same as other no-name wealth mgmt. opportunities (though I might be an outlier in this regard).

Nov 24, 2017

Not only do you merely have a 3.9, but a 3.9 "+" GPA at a "top 10 target school!" Wow, I cant imagine how you would ever break into ibanking at all!

Honestly, dude, cut the shit and take the VC internship; you dont do shit at PWM.

Nov 24, 2017

Not only do you merely have a 3.9, but a 3.9 "+" GPA at a "top 10 target school!" Wow, I cant imagine how you would ever break into ibanking at all!

Honestly, dude, cut the shit and take the VC internship; you dont do shit at PWM.

Nov 24, 2017

Not only do you merely have a 3.9, but a 3.9 "+" GPA at a "top 10 target school!" Wow, I cant imagine how you would ever break into ibanking at all!

Honestly, dude, cut the shit and take the VC internship; you dont do shit at PWM.

Nov 24, 2017

Not only do you merely have a 3.9, but a 3.9 "+" GPA at a "top 10 target school!" Wow, I cant imagine how you would ever break into ibanking at all!

Honestly, dude, cut the shit and take the VC internship; you dont do shit at PWM.

Nov 24, 2017

Not only do you merely have a 3.9, but a 3.9 "+" GPA at a "top 10 target school!" Wow, I cant imagine how you would ever break into ibanking at all!

Honestly, dude, cut the shit and take the VC internship; you dont do shit at PWM.

Nov 24, 2017

Not only do you merely have a 3.9, but a 3.9 "+" GPA at a "top 10 target school!" Wow, I cant imagine how you would ever break into ibanking at all!

Honestly, dude, cut the shit and take the VC internship; you dont do shit at PWM.

Nov 24, 2017

Wow, that's the first sextuple post I've ever seen. Thanks.

OP, go with the VC internship. I did BB PWM my sophomore year and was bored every day. Thankfully landed a BB S&T SA this year.

Nov 24, 2017

Thanks guys for all the opinions! Will be taking the VC internship!

and to CA, I really didn't mean to sound pretentious, but merely giving a background of where I'm coming from. However I do apologize if I came off that way.

Nov 24, 2017

Most people here would say take this or take that. Tbh, it doesn't really matter. All of those look good. What matters is you are able to network and have coffee with people over the summer. I know people who just networked over sophomore summer (as they didn't land anything) and ended up with great gigs for their junior year, and I also know people who had GS/JPM/MS on their resume after their sophomore year, which didn't do shit for them for their junior year.

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."

Nov 24, 2017

Hi DJA_2020, check out these threads:

Or maybe the following pros can chime in... @d123789 @pedro-rojas @Mads-Lund

You're welcome.

Nov 24, 2017

bump

Nov 24, 2017

Take what you would find most interesting. Both seem to be decent finance positions and both will be sufficient enough for IB recruiting junior year.

I interned at a no-name LMM PE shop and managed to nail interviews for most EB and some BB even with a subpar summer internship sophomore year so you'll be fine

Nov 24, 2017

is a no-name LMM PE shop a subpar internship for junior year recruiting? i go to a target and have been interviewing with some of these haha

firms roughly 400-800 million

Nov 24, 2017

Take T. Rowe. Solid brand name, great relevant and learning experience.

Nov 24, 2017

ER is going to be a better play.

Gives you a great idea on how to think about value drivers, thinking critically about assumptions, news, market forces, and is great for modeling experience.

Probably a lot closer to IB than what you'd do than option 2. Would likely look a lot better too.

You really get in depth about what drives revenues, costs, and industry factors that

    • 1
May 19, 2018

deleted

Nov 24, 2017

just answered some similar questions here

http://www.ibankingoasis.com/node/2560

Nov 24, 2017

thanks, but if I can't spend 45 bucks on vault right now...what would you say?

Nov 24, 2017
jamesG:

thanks, but if I can't spend 45 bucks on vault right now...what would you say?

Here you go man... http://www.mccombs.utexas.edu/students/gfa/Resourc... (all the vault guides for free)

Edit: I corrected it.

Nov 24, 2017

Der Bankier was nice enough to provide the link, though it doesn't seem to work on my browser. I'm sure Queens' career center provides access to the vault guides, you should def. contact someone there and see what resources you can avail of. Vault guides are a very good place to start if you're completely clueless.

Word of caution though, if you're interviewing at BMO/RBC/Scotia/CIBC or any of the Canadian IB's, be sure to know your technicals. Canadian schools are known for their business programs and finance junkies are a dime a dozen. Since positions are scant the only way IB's here can choose between 5 brilliant candidates is by testing their technicals. There's just too much talent. Really don't mean to scare you, sorry if i am, but im trying to open your eyes to the realities of Canadian IB competition - its intense. That said, they should take it much easier on you since you're a sophomore, but do make an effort to go in prepared. Remember also to hedge your risks and spread your eggs, apply to ECM and DCM positions as well as IB.

Nov 24, 2017
sexonwax:

Der Bankier was nice enough to provide the link, though it doesn't seem to work on my browser. I'm sure Queens' career center provides access to the vault guides, you should def. contact someone there and see what resources you can avail of. Vault guides are a very good place to start if you're completely clueless.

Canadian schools are known for their business programs and finance junkies are a dime a dozen.

Hah, really? Naturally, I know that IB positions in Canada are few and far between. But exactly how strong are the reputations of their finance programs?
Specifically, how would an american IB recruiter, or even a banker, view a Canadian finance student?

Nov 24, 2017

I've corrected it; most universities offer students free access to Vault Guides.

Nov 24, 2017

Wow, thanks a lot guys, I'll defin check out the career centre.

And yeah, I also checked out a couple ECM and S&T positions.

They're all mainly looking for 3rd years as a safe investment for their training dollars, but whatever, I'll hope for the best.

Nov 24, 2017

If you're from Queens, McGill, or Ivey - Canadian & American recruiters alike recognize the rigour of your programs. McGill's finance is highly technical (you have to complete 10 finance courses to graduate, many of which are taken joint with the Master's students). Ivey's program is less quantitative and more case-based, but excellent nonetheless. Queens strikes the balance between McGill & Ivey curricula. This is not to say that other Canadain schools don't have strong finance programs (eg UToronto, JMSB etc) but they don't have the recognition M,Q, & Ivey enjoy in NYC.

I personally know people from those 3 schools who secured NYC positions with GS, MS, Lazard, JPM, UBS, UBS (LA), DB, CS, MOW (consulting). All of these firms recruited on campus, for their NY offices.

Many others I know placed well with BB's in London, too. Outisde of Canada, Q,M, & Ivey (sometimes even Waterloo, even though they're better known for their actuarial science / math focus) place very well.

Nov 24, 2017

Canadian schools may not enjoy the publicity of target US schools, but are quite good in their own right.

Not saying Queen's could compete with Havard. After all, Harvard's endowment is over 50 times that of ours...but we do have quality students.

Vast majority of my classmates here were all from the very top of their classes in HS. Many have had 1550+ SATs and turned down good US schools (like Columbia, some other Ivies, USC) to come to Queen's Commerce program, including myself (mainly because of the cost of education). People here work their ass off. If your image of Canadian schools are party schools or lumberjacks...you are mistaken. It takes effort to find the time to go out and party if u want to maintain semidecent grades. last year I could go out 2-3 times a week but this year I'm lucky if I can go out once.

I can't comment on Queen's Finance curriculum because I'm just a sophomore and haven't taken upper year finance yet, but yes, a lot of good companies recruit here.

They take the best and brightest of each class, which makes the competition incredibly tense.

in this past year these companies all had at least one person recruited from among us:

Goldman Sachs, Merrill Lynch, JP Morgan, Morgan Stanley, UBS, Credit Suisse, ING, CIBC, BMO, Scotia

and consulting: BCG, Bain and Co, etc.

These guys all get around 100 applications for 1 spot usually. If I manage to land one, I'll be more than ecstatic.

In any case, if I don't get an ibanking internship this year, what do you guys recommend I do for the summer to better prepare for next year?

Nov 24, 2017

if you have someone helping you I would say your chances are avg at best... its going to be tough but you need all the help you can get...most firms use summers to staff full time so doubt they want to waste a spot on someone not able to come back full time following year

Nov 24, 2017

As a disclaimer, I am only a rising Junior.

From my experience, your gpa and school (I'm assuming a semi-target) will drag you down. On top of that, I've heard that a lot of banks are reluctant to sponsor visas. Your experience might be able to offset some of this, and if your MDs really liked you, that could be the push you need to land an interview.

Good luck

Nov 24, 2017
noobmonkey:

As a disclaimer, I am only a rising Junior.

From my experience, your gpa and school (I'm assuming a semi-target) will drag you down. On top of that, I've heard that a lot of banks are reluctant to sponsor visas. Your experience might be able to offset some of this, and if your MDs really liked you, that could be the push you need to land an interview.

Good luck

How is a 3.66 a drag on my chances? The minimum is a 3.5. My university is a semi-target when it comes to banking, but it is very reputable in other fields including medicine and engineering. It's a top 5-6 in Canada, depending on the year.

Btw, what about my chances in Canada? I'm not really worried about sophomore year seeing as how I can come back here and intern again next summer, btw is London stringent with the visa issue as well?

Nov 24, 2017

which uni did u go ?

Nov 24, 2017

Sophomore with two investment banking internships... i don't know how people like you do it, i'm at a non(semi) target Canadian school as well, and I've networked my ass off for a year and only managed to land a lowly IT consulting job.

Nov 24, 2017

Reading some other posts, it looks like you got your shit through parents. It's not cool to flaunt shit like that. Good for you, though, I guess you looking for new job means you did like shit, and your mom had to suck off one of the MD's to extend your internship (my thought is that she did that in the first place to get you that internship anyways).

Nov 24, 2017
ruijiang_ma:

Reading some other posts, it looks like you got your shit through parents. It's not cool to flaunt shit like that. Good for you, though, I guess you looking for new job means you did like shit, and your mom had to suck off one of the MD's to extend your internship (my thought is that she did that in the first place to get you that internship anyways).

It's not flaunting, flaunting would be to lie and say I attained both through complete merit which would be dishonest. No freshman gets any proper internship without connections, period. Actually, I excelled and now have 3 MD's vouching for me and sending me resume to their BB contacts, obviously you lack attention to detail otherwise you would have ascertained that I was asking about next summer, hence the "sophomore chances" . It's not wise to express your anger the way just did, it shows weakness and immaturity.

Nov 24, 2017

it's true, i got one this summer from cold-emailing a local boutique. shit happens and this ruijiang guy is posting stupid stuff like the post he just made on a bunch of different topics.

Nov 24, 2017
CNB90:

So I'm just wondering what my chances are at getting at least an interview for a SA position as a sophomore, I know some U.S banks have sophomore programs and Canadian banks hire a few. A few MD's at my current Ibank know people in U.S banks and said they'd be able to help me out but I don't necessarily want to operate under that assumption, rather I want to base this on merit.

My qualifications:

Canadian university, May 2013 graduate.

GPA: 3.66, Commerce degree.

Experience: 5 week rotational program in one Ibank (IBD,PE,direct investment, investment research, and investment advisory). 2nd internship at another Ibank in the IBD, still there, was meant to be for a month but I'm getting it extended by a couple of weeks - I'm getting valuable financial modeling and presentation experience from the latter. Both are in the middle east.

What are my chances?

The only way this will work is through connections, not OCR or any typical recruiting process. While MDs may see your resume and want to offer you an interview, chances are he will never know you even applied, as the robots in HR like to throw away resumes that don't say c/o 2012.

Nov 24, 2017

I've never trusted Chinese firms, so I would avoid the last two options. If you're picking two options, go with the first two.

Nov 24, 2017

bump

Nov 24, 2017

What bank?

Nov 24, 2017

oh sorry, Morgan Stanley

Nov 24, 2017

Hi tedyang, check out these resources:

No promises, but maybe one of our professional members will share their wisdom: @Beijun-Luo @pedro-rojas @SalaryCC

You're welcome.

Nov 24, 2017

Your hashtags look like an Instagram post

Nov 24, 2017

Hit up alumni from your school on LinkedIn right away. It's weekend so they might read it on Monday but it's your best shot that late in the process.

Nov 24, 2017
Beny23:

Hit up alumni from your school on LinkedIn right away. It's weekend so they might read it on Monday but it's your best shot that late in the process.

How should I approach this method? Should I just ask them to meet up with me for an informational interview or be direct and ask if their firm has any openings for an intern? Can you give me any other tips before I start contacting these people or recommend a template that has possibly worked for you?

Nov 24, 2017

Never too late

Nov 24, 2017

I only managed to find a few analysts that currently work in boutiques, but I will also try contacting VP's and MD's as there are many more of them that are currently employed at boutiques. By the way, is contacting the higher-ups a bad thing to do or does it simply mean the chances of them helping me out are slimmer?

Thanks for all the input so far

iamamonkeybanker - That is definitely true, but some hope is lost after every day goes by

Nov 24, 2017

bump

Nov 24, 2017

Anything related to finance will certainly improve your chances for sa recruiting. However, you may find yourself slightly disadvantaged when competing with other kids in your class who will have stronger internship positions. As always the name of the game is networking and I would suggest starting soon to strongly position yourself for as many interviews as possible.

Nov 24, 2017

depends on the bank, if its a solid place you will definitely get some good exposure and recognition back home. if its some name nobody has ever heard of then it will be a bit tougher. but a BB in an emerging market might be a good start.

Nov 24, 2017

I think it will certainly be seen as a plus, particularly if the bank has some name brand recognition in the U.S. and/or you couple it with some language skills.

Remember, you are a Sophomore. You still have Junior summer to work in NYC if that's where you want to be FT.

Nov 24, 2017

3 sounds like the best out of those... Pay is high, smaller company = more exposure so you'd learn a lot more and you'll gain a lot more insight into the various parts of the business rather than being at a larger company and having a limited field of view. Hopefully this helps... interested to see what others have to say.

Nov 24, 2017

Tough call. I'd say it's either Option 1 or 3. If you really like the MM firm and want to work there after college, I'd say Option 1.. However, if you are aiming for a top BB firm, then I think Option 3 gives you an edge. First of all, since you are at a target, the real IB experience will set you apart and you will be better prepared for SA interviews at BBs. Secondly, since it's a small firm, you have the chance to make lasting connections with the MD and other higher ups and perhaps utilize their connections in the future. Lastly, this reason is not necessarily that important, but the pay is nice.

Nov 24, 2017

3

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."

May 19, 2018

bump

May 19, 2018

Hi werty1713, just trying to help:

Or maybe the following users have something to say: @Antiaverage @JSelbach @kyo_chung

I hope those threads give you a bit more insight.

May 19, 2018

Bman1080, bummer your thread hasn't had a response yet. Sometimes bots are smarter than humans anyways:

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No promises, but sometimes if we mention a user, they will share their wisdom: @Dan12345 @LadiesMan217 @broadstbully

If those topics were completely useless, don't blame me, blame my programmers...

May 19, 2018

I don't get it, what was the point of posting this again?

May 19, 2018

transferring to the target school is critical, so it's good that you're working on that.

For this summer, anything related is fine... many kids applying for SA positions junior year don't have PE/Ibanking internships beforehand... they do generally have some other related internships though, which you're already looking okay on...

My advice would be just don't mess up the school transfer. I have no idea how that process works, but I do know that your entire early professional life will be defined based on the school you graduate from and even marginal differences in the quality of the degree can make a vast difference on your prospects in the future...

May 19, 2018
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