Too Late to Get an internship this summer? Please advise

Current sophomore at a non target. Majoring in finance and minoring in Econ with a 3.75 GPA. I have started networking hard and studying my technicals for IB SA 2022 recruiting.

I had an internship for this summer in PE but they called me today to cancel. Is it too late for me to cold email firms around my area to ask for an unpaid gig? Any advice is deeply appreciated.

WSO Elite Modeling Package

  • 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF
  • Elite instructors from top BB investment banks and private equity megafunds
  • Includes Company DB + Video Library Access (1 year)

Comments (12)

  • Intern in IB-M&A
May 1, 2021 - 8:49pm

Was in a similar position for SA 21. Had an internship that got canceled. Didn't get another internship for the summer but put something along the lines of "Summer Intern at XYZ (canceled due to ABC) Summer 2020". Didn't have a problem getting interviews across the board and ultimately signed an offer with a top group. People understand that everything is still very much fluidic right now because of so many things and won't ding you for have an internship canceled. U should still continue to search for an internship but don't stress on it too much and IMO would focus a bit more on 2022 SA recruiting since many banks are underway and more are starting soon.

May 2, 2021 - 12:40am

Not too late but cancel any pre-conceived notions of what is a good bank and what is bad. You'll probably get some looks from some smaller places that can be great experiences. Don't be picky and you'll be totally fine.

May 2, 2021 - 1:32am

If you're looking for something prestigious it's obviously dead right now but I've seen a lot of pretty interesting internships pop on my university job board. (Things like strategy or corporate development)

If you're casting your net pretty wide and are willing to accept unpaid internship you'll definitely find something. (But apply to everything and network like it's your full time job in the next two weeks)

May 2, 2021 - 1:32am

If you're looking for something prestigious it's obviously dead right now but I've seen a lot of pretty interesting internships pop on my university job board. (Things like strategy or corporate development)

If you're casting your net pretty wide and are willing to accept unpaid internship you'll definitely find something. (But apply to everything and network like it's your full time job in the next two weeks)

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
May 3, 2021 - 8:13pm

Are you the Rutgers guy from the other thread? I went to a nontarget and know a few people who had no internships beforehand and got BB offers. Right now the best thing you can do is network with people to get a BB or MM offer for next summer since the process will start soon. A good internship checks off a box but won't make or break you. Crush your technicals, round your 3.75 to a 3.8 (unless 3.75 was rounded), and network with as many people as possible. This late into the game focus on alumni. There's another thread listing banks that haven't started recruiting yet; use that and target those.

May 4, 2021 - 8:49am

Sorry to hear your internship was cancelled. Out of your control. What's in your control is still having a very productive summer. Reach out to boutiques, local shops, etc. If nothing strikes, no reason why you can't take a bunch of modeling and coding courses online to increase / improve your skills. That would be impressive and could show your resilience for future interviews.

Good luck!

May 4, 2021 - 8:57am

Best of luck to you. Maybe a good option is to create your own internship. Maybe open a brokerage account and start investing on your own. The best way to learn is to do sometimes. Def think it demonstrates interest and a good experience if you can start investing / managing money now. Research investment ideas. Come up with theses. Whatever it is. Maybe even just read books and articles and say that is how you created your own internship thing of studying for the summer. Much success

Start Discussion

Total Avg Compensation

May 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (35) $364
  • Associates (194) $234
  • 2nd Year Analyst (110) $151
  • Intern/Summer Associate (96) $145
  • 3rd+ Year Analyst (26) $145
  • 1st Year Analyst (402) $131
  • Intern/Summer Analyst (327) $82