Summer 2020 Analyst Internships
Hello,
I'm currently a junior at Kean University, majoring in Business Management; I'm a transfer student who graduated from Union County College with an Associate of Arts in Business.
I have a strong desire to have an investment banking career after graduation, and from what I have searched on this website and online articles, it is essential and very helpful to have a summer internship as a securities analyst with boutique or middle-management firm in order to boost your resume as well as get the corporate experience so you have a feel for what it will be like.
I have also read that most students get their internships the summer after their junior year of college, which is lucky for me as I am right on time, and I have a great GPA to boot, as well.
I have previous work experience at Vector Marketing and Walgreens, and did a paid internship with the Visiting Nurse Service for a good hourly rate of $15 an hour. However, I have never worked at a bank or anything like that.
The Career Fair already came to my school, and I currently have an interview scheduled for tomorrow with Sherwin-Williams for an internship position; the recruiter was impressed with my resume, I have no doubt I'll get the intership. But while I'll take what I can get, I would much rather have an analyst internship.
So my questions are as follows
1.) Besides the obvious LinkedIn networking, what are some good places to look for analyst internships near me in New Jersey? Should I just call some small banks and firms randomly (cold-calling?) and shoot them my resume with an email, to see who is interested?
2.) In your experience, are most of these internships paid or unpaid? I am not interested in unpaid internships.
Thanks!!
Hey, I
Vector Marketing is indeed a scam. Unpaid training hours, no gas compensation for going out to find clients, etc. etc.
But I had that position as a high school senior, go easy on me. xD
I appreciate this advice. I have decided that I am going to use Axial to find some boutique and middle-management banking firms near me, and do "cold resume emailing" as much as I can to these local firms; I won't be surprised if I land something eventually.
However, I'll also go to the Career Services counselor at Kean and see who she knows (she's very good and helped me with my resume).
After my summer internship, I should also focus on full-time offers, applying to other firms and comparing the pay offers, as well?
Ah not to be rude, but you dont have anything near a strong resume for banking, I wouldn't do the cold resume approach. I would suggest reaching out to small boutiques and trying to talk to someone and expressing your interest on the phone. Make sure you actually know what banking is and why you want to do it, sorta seems that you are bit focus on money, Im not here to judge but focus on not coming off as wanting to do banking cause of the prestige/money. Learn how to bs if you have to.
While yeah you might be able to get something paid at an ib boutique or something relatable, your goal here is to get any type of experience so you might have to work for free. Beggars cant be choosers, there are a shit ton of kids like you with good gpas from 4 year schools willing to work for free for the experience.
On another note career services at non targets are utterly shit, you will realize this pretty quick. Look up the wso resume template and get your resume in that format. It doesnt hurt asking your career service person for help I guess, maybe she has a connection she can connect you with, but I highly doubt it and this would be her doing you a personal favor.
After your summer internship, if you networked correctly, you can leverage your connections to recruit for ft at their firm. If you didnt successfully network then you are fucked, blindly applying for positions will most most likely result in you never getting a response.
If you do receive a full time offer from whichever small boutique you interned for and have nothing else in the loop, I would advise you to take it and work hard during it and try to lateral from it to a better bank.
Once again, I would strongly advise that you do an extra semester, you are currently facing an even bigger battle as a junior transfer. Most of the kids that broke in coming from cc, either took an extra semester/year or transfered to a 4 year school as a sophomore.
Pm me if you want to talk further, we can hop on the phone and I can give you some more hard truth and point you to the right direction. I focus a lot on mentoring/coaching students that are trying to break in to ib, Im a bit at capacity currently with the people Im helping, but I have some extremely helpful resources that I made that should help you out.
Everything else that you need to know, you can find online. This forum, mergers & inquisitions, and others are extremely extremely helpful. If you don't know something its most likely because you were too lazy to look it up on your own, please dont be one of those people.
One final thing that I want to mention is that a lot of us were once in your shoes, I truly understand your position and Im giving you extremely efficient advise. You are facing an uphill battle, but if you work hard and efficient, it is not impossible to break in.
I'm interested in talking over the phone, I'll send a PM.
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