Resources for finding an internship?

Hey guys, back at it again with the freshie questions.

I just finished my freshman year in undergrad and this summer I will be studying abroad in London, studying financial markets on canary wharf and participating in Bloomberg terminal intro training. Very exciting for me.

However, I live in the Northern Virginia/D.C. area, and want to start looking at places I should be targeting for my post-sophomore year summer. I see that a lot of sophomores are able to successfully get PWM internships on LinkedIn. Now, IB is my goal but I realize I might not have the education to be doing that yet. If it is possible for a better internship I would absolutely hop on it; but what kind of online resource can I use to gather a list of places to apply/cold call over this upcoming fall-winter? The typical indeed and google search is kind of vague and doesn't bring up anything relevant, just accounting clerk jobs that require experience.

I realize that maybe most of these internships I'm seeing are acquired through cold calling and networking, however, my issue is finding places to reach out to.

Can anyone steer my in the right direction? It would be greatly appreciated, +SB for all helpful comments.

 

Tbh, in the beginning I cold emailed asking for just a chat. I got a few answers, didn't get anywhere.

So I started emailing and literally asking for an internship. I have a different skillset than most people asking for internships so I got it that way, so idk what your luck would be drawing attention there. If I got a PWM internship before my first year of college, I believe you can too bucko.

pm me for more info and I'll go into more detail about what I did specifically.

 

Since I just went through the brutal recruiting season I wish every freshie can have a easier one than mine. Here's what I would do, in the order of priority: 1. Your school internship site, usually hosted by career center. Check that out. 2. Various big companies website. Google them yourselves, but only ones that are big enough to have local offices in your area. Also in the process sign up for recruiting newsletter from those firms if you see one. 3. LinkedIn. Now companies list their openings on LinkedIn as well. I would recommend getting LinkedIn premium for job hunters. Expensive but pretty legit. Also don't forget to connect with Alums working in IB if you can track them down on LinkedIn. Most of them would be more than happy to help. I would help people out if I see a message from people from my school.

When researching companies online, don't forget to apply online to open positions, even they are not in your area, because then your data would be saved to their database and I know companies do email appropriate past candidates if they have new positions open. Hope this helps and good luck!

 

Ahhh number 3 has been on my mind. It's not too much for me to connect w/ people in order to chat w/ them on LinkedIn? I thought it was taboo to connect with someone before you actually have met/talked.

 

not really. have been doing that last year. just make sure you leave a nice note with the invite. after i put my BB internship on there i got a lot of random invites and i am happy to add people as long as they are not rude

 

Alright, enough with making fun of poor freshman. Getting serious internship at Fortune 500 in finance will be pretty damn hard w/o networking (unless she'll apply for special freshman program, although I've never heard of such programs). The problem is, in current state a lot of well-qualified Juniors could not get internships they wanted (mostly within IB/PE/Consulting). So now we have a lot of well-qualified, high GPA or impressive work experience (or even both) Juniors bombarding every single finance internship because at this point any summer internship is better than nothing.

Also we have a lot of wanna-start-early sophomores. Some of them already had internships at BB/MBB/Big 4 and could easily compete with Juniors.

And finally there are Seniors who are staying for extra quarter/semester/year.

P.S.: I might be wrong, so wait for other people to say something

 
euroazn:

So my goal is to leverage my work experience to actually be able to land an internship (in banking, PE, or HF... anything, even unpaid, as long as I can learn at least a little bit of modeling.)

Shudders...

I win here, I win there...
 

Dude I think it was wrong for you to spend so much time learning finance topics rather than focusing on getting into a target. I'd consider a gameplan to transfer into a target first. Read the other threads and you'll realize that networking is a huge part of success. Devote the summer to doing something relevant and try to pick up contacts through your family. When you get to school, reach out to alumni who can help your situation. Other than that, I'm not sure why you need to try so hard, but good luck.

 
euroazn:
some BS about technical analysis

Keep talking like that and myself, along with MrFuture are going to punch you through the computer screen.

In all seriousness just take what you can. Since you're so young, anything you get will put you ahead of the majority of your peers.

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

I may consider transferring into a target. My SAT is good - 2340/2400, but my GPA is kind of lacking (decent, but not great.) At best I end up at at a semi-target (before transfer).

Any other answers, ESPECIALLY for question 2?

Thanks a bunch guys, I do appreciate it.

 

Do you know how to have a conversation with someone you never met...this is very important... having all the talent in the world doesn't mean much unless your a quant, if aren't personable. Target, non-target eh, doesn't matter much. What matters is knowing what you want and how to get it. where you go to school...eh. its a badge.

Also. inb4 Pymp on target>anything else.

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 

If by success you mean monkey shit... then yes.

Edit - I take that back. There is a lot of really helpful people on this site, but they are certainly the minority

 
SpencerMakesBank:
If by success you mean monkey shit... then yes.

Edit - I take that back. There is a lot of really helpful people on this site, but they are certainly the minority

This is why you get no help, your know it all attitude.

People in the industry are telling you, should slow down and you are telling them they aren't helpful?

Sounds like you'd like more shit

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 

To be honest, I looked at your threads Spencer, and I would probably respond similarly to the majority... :\ The trick is asking a legitimate question.

I haven't been given any "shit" here, they're all perfectly legitimate answers (thanks guys), but I don't want to "go travel, learn a new language" or whatnot. Especially since I have no money for that, haha. And if it's being a lifeguard over some internship, I'd choose the internship (even if unpaid) in a flash.

 

1) What should my gameplan be? And please, don't say something like take the summer off... especially since my chances of getting into a target school are looking pretty grim... 2) Other than the "regional boutiques" thread, anyone have a list of firms, or better yet, contacts, (again, Banks, PE, or HF) for the DC area? Or even better better yet, any contact that might need some cheap (or even free) labor for over the summer?

Relax... you've accomplished more than some people I know who have finished uni by the looks of it. Assuming that you understand a lot of that material you cited.

PWM at a BB.

Please keep in mind that you also need to figure out for yourself the answers to questions before coming on here. Most people haven't got incentives to help people out. Moreover, people have incentives to stop you from entering the industry (more competition) so keep that in mind.

It naturally follows that since people on here appear have very little incentive to help you on average, you need to be respectful and thankful when someone does. Additionally.. a vast amount of queries have already been answered, use the search function.

You might want to use your personal contacts for this information, I've found they are the most reliable sources.

1) Just do as many internships as you can over summer. If they don't take freshmen, I'm sure your performance manager at your PWM placement will help you. Don't slow down if you don't want to, but keep in mind that you have a lot of time before you graduate and no small set of unfortunate incidents should beat you down.

2) Sorry not in DC. Think for yourself how you'd find out. Ask friends. If you did 2 placements, surely your friends from there can help you out?

Good luck mate.

 

Thanks GotBushels, I appreciate it! As for "It naturally follows that since people on here appear have very little incentive to help you on average, you need to be respectful and thankful when someone does", I try to, and I think I've been pretty respectful so far. WSO can let me know if I'm being a dick.

Well, WSO, I've already massed a list of like 150 companies, and when I'm all done I think I'll post em' out with contact information (nothing confidential there, everything can be found on the web... I just took the time to compile.) Might as well do the community a service ;P

 

Well I have an internship at a BB Wealth Management branch, but honestly it's nothing special. (My school requires an internship every Wednesday instead of going to classes.) Haven't learned much... just stuffing envelopes so I have no idea how I'm going to spin this on my resume.

...and yea I too am trying to find a decent summer internship, but no luck yet.

 
eurostriker10:
Well I have an internship at a BB Wealth Management branch, but honestly it's nothing special. (My school requires an internship every Wednesday instead of going to classes.) Haven't learned much... just stuffing envelopes so I have no idea how I'm going to spin this on my resume.

...and yea I too am trying to find a decent summer internship, but no luck yet.

created a faster process to stuff envelopes

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 

As a senior you should be enjoying life. You won't have the same kind of free time in college. I doubt you've done anything substantial at the places you were at before so that really won't help you get something worth it unless you have a very strong contact at a boutique.

Some helpful tips would be to follow the markets and also get better with your Excel. Since you're probably not going to be at a target, networking is key. If you want to get a headstart, you should coldcall people in banks and see if they would be willing to do informational interviews. Try to meet and chat with them so that you develop a relationship. Knowing the markets will help more in a conversation than something out of your Corporate finance textbook.

 

I'd suggest that all of the medium to large banks have internship opportunities. Calling and asking "what internship opportunities you have available" isn't going to be that productive.

  1. Read the websites to see what opportunities are listed
  2. Research and think about what is most interesting to you. Read some of the day-in-the-life descriptions I highlight below
  3. If you're interested in something a bit off the beaten path and it's not listed on the website, then you can call the bank and ask about whether there might be internship opportunities in that area
  4. Even if they say "no" to #3, try to identify people (more senior is better than very junior) who work in that area and send an email introducing yourself and expressing an interest in interning with them. Read this to get a good idea about how you want to craft that email The PERFECT Introductory Email to Someone you DO NOT Know - http://bit.ly/cwdg3

I just randomly selected a few, but you can search "day in the life" on the Gotta Mentor site and read a bunch more S&T Summer Rotation: A Day in the Life - http://bit.ly/3YMQx8 A day in the life of an Investment Banking coverage summer intern - http://bit.ly/1fH2u

Gotta Mentor www.GottaMentor.com Connect to the Advice & People You Need to Achieve Your Career Goals

Gotta Mentor Connect to the Advice & People You Need to Achieve Your Career Goals
 

As a first year, it's tough to get a position on your school's job board or career fair. It's still worth giving going to career fairs, however, as you can gain networking experience and a feel for what to except when you become a second or third year.

Internship experience is definitely very important, but don't be disheartened if you can't get an amazing internship as a first year. Most people who do get internships their first year have family connections, so if you do, definitely work that route. Otherwise, I recommend going to local banks, etc... and talking to the people to show you are hardworking and willing to do grunt work (which is all you'll really get as a first year). Also try to focus on smaller/midsized private companies. I was able to land an internship my first year by talking to the CEO of a small company. It was a great experience that gave me a lot of good stories to tell during my subsequent interviews.

Hope this helped!

 
Best Response

A boutique investment bank essentially is a small niche investment bank that focuses on a limited scope of industries or product groups. The two that you checked out are financial advisory positions that will help you move into private wealth management/ private bank but not into investment banking. Check the forum threads, there was definitely comprehensive lists of boutique investment banks in different cities that will work on advisory for businesses in m&a, restructuring of debt, project finance. Few have balance sheets big enough to do any sort of underwriting, but that's ok.

There are also boutique firms that focus on investment/asset management, which is the firm's handling of investments/accounts for institutional investors.

I think what you need to look for is something related to investment management/ investment banking - which relates to portfolio management and corporate finance advisory, respectively.

Good luck

----------------------------------------------------------------- “It's all nonsense. Firms use titles to pander to the egos of the employees without giving away the store. If you are getting the money, who cares about the title?"
 

1st off bro you need to figure out what the hell you want. Throwing shit against the wall and seeing if it sticks is a good way to get drunk girls, but will turn off a lot of employers. Randomly sending emails isn't a good way either. Start networking, reaching out to alumni, asking if their firm is interested in an unpaid intern. It will take a while and you will need to track who you send emails to so you can follow up, but by and large something will come from it.

If you are not on Linkedin and utilizing it I suggest you do so now.

 
AnthonyD1982:
1st off bro you need to figure out what the hell you want. Throwing shit against the wall and seeing if it sticks is a good way to get drunk girls, but will turn off a lot of employers. Randomly sending emails isn't a good way either. Start networking, reaching out to alumni, asking if their firm is interested in an unpaid intern. It will take a while and you will need to track who you send emails to so you can follow up, but by and large something will come from it.

If you are not on Linkedin and utilizing it I suggest you do so now.

I'm a gal not a bro =D I don't send my resume randomly. I've singed up to many websites such as JPMorgan, Wells Fargo, HSBC, Citi, etc. and I send my resume to the jobs they offer. Also, I do research on NYC companies and give them a call asking if it's possible to send a resume for an Intern position. I network but honestly it's doing very little to my benefit that's why I've posted the question in the 1st place. As for Linkedin, I've been there

 
Nobama88:
I do not know what everyone elses experience is with online job postings for companies, but I tend to get virtually no where with doing that. I would suggest trying to network your resume into those companies. Going to their website and submitting your resume is like chucking something into a blackhole.

Just my experience though.

You're absolutely right. However, here's the situation: I walk into a JP Morgan Chase here on Park Avenue; I get approached by at least 4-5 male workers (why? I'm a good looking girl and I’m assuming they're personal bankers). As soon as I ask “whom would I be able to speak with regarding a possible employment" they run away, of course. I see a manager of the branch and what do I hear? “Submit your resume on our website". Let's just say it happens in every single company I go to, always been told to submit online. They don't want to hear it; they're too busy scratching their ehm.

 

What are you trying to do? Do you have any internships under your belt? You really think just because you walk into JPM you are going to be given an internship...lol...it seems like you have a lot of learning to do about the industry. As for MBA, you should be working for 3-4 years before even thinking about going back to get an MBA. Maybe you should look at just getting something under your belt like PWM or something along those lines. You need to learn more about the industry and what you want before you can even begin effectively networking. WHy dont you post your resume and we can go from there by giving you feedback.

 

If you are a good looking girl, they probably turned away the minute you asked for a job because they don't want to get sued for having an attractive employee

looking for that pick-me-up to power through an all-nighter?
 

First off, St John's is a non-target so I'm not surprised if only 0-1 stj grads get into firms like JPM/GS/MS each year. That said, the school does send a bunch of kids to big4 accounting firms and given your current situation I strongly recommend you to try out big4 to boost your chance and you can always break into finance later. Start looking for unpaid internships offered by boutique shops as well and forget about the big banks' online applications.

 

I agree with turtle. It's pretty late, so you should try to contact an alumnus and see if you could get a pwm internship. If not, just start cold calling...and yes, Man up.

"Have you ever tried to use a chain with 3 weak links? I have, and now I no longer own an arctic wolf." -Dwight Schrute
 

I would contact analysts, as well, if you can. Most will be direct with you if there is no hope and usually no more about possible off-cycle opps compared to HR people

 

I will refer your question to a post I made to another at NU. Read what I wrote to him and take it for it is. Consider also that you are not a business or econ major and switching will be harder.

http://www.wallstreetoasis.com/forums/sophomore-resume-1

First off, what year are you?

Second, it's VERY hard for a business major to break into IB from Northeastern let alone a Bio major, However, a Bio major is more complex than a business major granted. You have no experience and you'll have to start from the bottom of the co-ops.

If you provide a bit more detail, I may be able to help.

P.S. I'm a middler right now at NU.

Time to roll up the sleeves and make things happen.
 

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