Sophomore Opportunities

Hi, I am a rising sophomore at a top 25 LAC. This summer I'm shadowing at two HF's but no actual modeling or deal experience. Moving forward, I want to gain more technical experience. What kinds of internship opportunities are there for sophomore next summers at a bulge bracket/boutique. Thanks in advance.

 

Most BBs and a few elite boutiques do, actually, have summer internships. Among the boutiques, I did apply to Perella Weinberg when I was a sophomore and didn't get an interview, and I know a few people at my school who have IB gigs at BB as sophomores. Also, wealth management tends to be more lenient on grade level, and many people I know did WM after freshman or sophomore year and then moved into banking.

Perella Weinberg thread as example: http://www.wallstreetoasis.com/forums/perella-weinberg-sophomore-intern…

Make Idaho a Semi-Target Again 2016 Not an alumnus of Idaho
 
NetsCowboys:
I know someone who did ops at a BB after soph year and did some networking and now has an interview with S&T in the same bank. so its def. possible and better than nothing.

yes that is a good point about the networking aspect, but what is something better that is obtainable by a sophomore with an ok resume and average gpa (3.3-3.4)?

 

Google, Google, and Google some more... Then reach out to your alumni database for networking options. Don't sit back. You have to work hard and hopefully it will work out. Although, I will admit, if you have not begun networking by now, then you may have to wait until next year.

 

only true if your talking about the SEO. This is a specific organization that works to help minorities with getting jobs on wall street and other business areas (consulting, accounting, etc...). This is certainly needed if you ever look at the lack of diversity on wall street.

In reality though, top banks like MS and GS do have sophomore internship programs (typically always within private wealth management). Typically if you are not a junior, you should be looking at PWM and portfolio management type of internships. Sometimes you can get away with applying for the usual S/T and ibd jobs as sophomores but typically will not even get the interviews.

 

not true. i got on campus interviews at several places (bb & mm, only first round though). second rounds at a few places, including seo.

also, goldman private wealth summer analyst programs is geared towards juniors like everyone else.

by the way, i am not an underrepresented minority.

 

I'm a rising sophomore at a top 5 target. My question is how much a PWM sophomore internship will help when applying for SA positions junior year. I would prefer to do an REU (research experience for udnergraduates) but obviously if the PWM internship is a better career move, I'll go that route.

 

a number of bb's have rotational programs that, while geared toward minorities, accept others as well.

try looking into mm's and boutiques if you want to do banking soph year. i managed several first and second round interviews with bb's and boutiques as a soph and got an offer from an mm bank. for reference i go to a lesser-target midwest school (northwestern/uchicago/umich).

 

I found this regional boutique that's pretty close to home, but I'm not sure if it's worth my time and energy. They want me to work ~50 hrs/wk and it pays about $400-500 a month stipend. It seems like I might get some decent exp though. Looks like most of the time I'll be working on pitchbooks, some financial modeling, and helping out with other divisions like capital markets and operations...etc

Is this worth it? With this economy, should I just take whatever finance-related internship I can get?

 

Let me rephrase my question. Okay, fine, I know it looks good.

The real question that I forgot to add into my original post (sorry) was how difficult is it to get a position at a local branch assuming that you don't want to work for free but wouldn't care if you got paid minimum wage??

ah, of course. your name speaks the truth - you really HAVE been playing one too many videogames.

 
Roller4Life:
How would it look if I found a summer internship at a local branch of a BB in my hometown such as Wachovia?

It would look amazing, especially at one of the really big BBs like Wachovia.

 

There is a big difference between "local branch" and "regional" offices. ML LA, for example, refers to the investment banking division of ML.

If you found a ML in your "hometown" chances are it is a retail brokerage office. In this case, you may as well do any other finance related internship because it has nothing to do directly with "investment banking".

To clarify, a ML regional investment banking internship would look amazing after your sophomore year, whereas a ML retail brokerage internship after your sophomore year wouldn't really mean that much.

 

Did the retail thing freshman year during the schoolyear. Have it on my resume, and have never been asked about it in a positive or negative light. Ever.

People just don't seem to care that you did retail, because honestly, a 4th grader could easily do the work they make you do there. If you have ANY other options (CorpFin), I would think that would look better, and you would at least learn something.

 

Thanks for the help. I appreciate it. Yes, it is a local retail office and not a regional office like ML LA.

So I'm going to forget doing anything at a local office which entails retail and is pretty much unrelated to IB.

 

Definitely. Tell those accounting idiots that you are graduating in three years, and subsequently nab a big four accounting internship sophomore year (which are normally received for juniors). Then, junior year do a banking internship.

Nice!

 

It is really not that hard to land an accounting internship your freshmen year from the Big 4 if you go to one of their core recruiting schools. Which is most reputable business schools.

 

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