Summer internship

Is it too late to apply for summer internships? I'm talking MM or boutique. For those of you with experience applying to smaller banks what did you do? I've been looking online and lots of times the only option to apply is by email or nothing is listed. If I send in a bunch of resumes is this a waste of my time?

 
Best Response

Did an internship last summer at a boutique bank. I was a sophomore, so it was even more difficult for me to get interviews, but since (i assume) you are a junior, you should have an easier time.

Anyway, as far as the smaller banks go, they do not start recruiting for interns until March or so. Essentially, these banks do not have formal programs, and hire by need. They do not know how many they will need until closer to the summer, so they start interviews in late February/early March.

As far as the application goes, keep in mind that since it is a small firm, it is much more likely that someone will take a look at your resume, and not just file it somewhere. Because of this, you can really improve your chances by following up with the main HR contact every 2-3 weeks. This strategy worked well for me with the smaller banks, because when it came time to select people for interviews, I had been in touch with them enough that they remembered my name, and I automatically got invited.

I wouldn't take the mass application approach, but would rather focus on a list of 10-15 firms that really interest you, and think you have a good shot at. If you are persistent enough with these firms, and have a decent resume, you should be able to land a few interviews.

 
dougadam:
Is it too late to apply for summer internships? I'm talking MM or boutique. For those of you with experience applying to smaller banks what did you do? I've been looking online and lots of times the only option to apply is by email or nothing is listed. If I send in a bunch of resumes is this a waste of my time?

I remember my career centre started having the postings up during Xmas break with deadlines for apps coming 2 weeks into January.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
kanon's picture
kanon
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”