Summer Internship at Investment banks as a final year student (London). Possible?
Hi,
I would really apreciate your help guys.
Basically, i havent done a SA intenship at a investment bank and i beliebe that most of the graduate jobs will be given to summer interns. Thus, i will have very little chance to secure a full time job. I was wondering if i can still apply for summer analyst postion being in my final year of uni? I know that most or all banks say that they are for penultimate year students (For example Goldman says that SA is USUALLY underdaken during a penultimate year of study). I feel like i can still apply for SA, but not entirely sure. What do you think guys? I think this applies to a lof of people who didnt do SA internship at a investment bank, but still want to get a graduate job.
Yes, doing a Summer Internship as a final year student is possible at some of the BBs and EBs in London.
Specifically, drawing from own experience and that of friends, I can say that GS, MS and BAML consider final year students. Citi technically does too but seems to quite clearly favour penultimate year students. JPM, CS, DB, Barclays and UBS officially do not consider final years. However, you may apply a work around by delaying your graduation date.
With respect to EBs, PWP and Evercore consider final years, Rothschild, Lazard Moelis, PJT and Greenhill don't.
Please take the information above with a grain of salt though as it is based on experiences in 2017 (i.e. SA 2018 process).
Thank you very much! What do mean by delaying my graduation date? How can i do it?
For instance, you could be asking for postponement of the writing period of your thesis, some unis offer flexibility in that regard.
More commonly, applicants in their last year as a Bachelor's student indicate that they aim to pursue a 1-year Master's degree and thus qualify as penultimate. 1-year Master's students applying for penultimate year positions may sometimes indicate that they are looking to add another degree and thus will study for one more year.
Talked to an Associate at UBS recently. They honestly don't give a shit if you're a final year student.
Hi, question when you were sending applications to GS and MS, who also accept final year students, have you still postponed your grad date just to make sure or you applied with the correct final year date and still got considered? thanks for the info.
Or anyone else who has an experience with this?
No, I didn't change it to penultimate. I did not get the impression that there is a preference for penultimate year applicants.
Barclays, JPM and UBS all definitely take final year students speaking from 2021 summers.
In addition to what has been said, many final year undergrads simply say they are pursuing a 1yr MA and are allowed to apply for most of the reputable firms.
yeah) i actually want to do masters and thats why i am eligible, but should i mention the fact that i am apllying for masters in my cover letter?
Absolutely possible, a friend of mine did the exact same last year, although if you're talking about this summer then you've already missed the recruitment season unfortunately. Some of the banks even have a start date in February/March time for those that convert to full time offers and have graduated already, as opposed to coming back full time the following summer.
I've seen people who were either unsuccessful/lazy in their penultimate year do so in a couple of ways (although I only know a handful of people who did so): - State in your application that you're a penultimate year because you are applying for a Masters programme. In London, recruitment cycles for SA typically begin in September and you don't have to accept a Masters programme until spring/early summer. I'm not suggesting you lie - my friend who did it was genuinely applying for both the SA and the Masters programme but reneged on the MSc as he received a full-time offer from the bank and they didn't require him to actually do his MSc. - Network network network. Yes they prefer penultimate year students but finalist + recommendation will put you in good stead.
But how do you prevent yourself from being automatically rejected through the application form? Say you are applying for 2020 SA, but haven't yet secured a Master's programme and due to graduate from your BSc in 2020. Do you put in 2021?
its a good question. I don't know
Another option for delaying graduation is adding a second major. That's what I did. I already had an accounting minor and added it as a second major to delay graduation 1 year.
I have seen people on Linkedin who have done SA at Barclays and DB as final year students. However I am uncertain if they had to say anything about potentially doing masters (these were nordic candidates where masters are mostly 2 years so i doubt it).
According to an earlier post in this thread DB and Barclays do not admit final year students which my findings contradict which makes the situation very unclear. I guess the best thing to do would just be to apply everywhere and see what happens, it can't hurt right? I have also heard that they don't really care that much, they just want good candidates.
DB only lets you if you're doing a masters after. Barclays doesn't care. (Just realised this thread is super old)
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