URGENT: Am I Too late for SA 2020?
Hey guys,
I am a returning junior at non-target. I took a leave of absence for two years to serve in the military.
I just got discharged in May and began looking for summer 2020 internships. I found out that they are already almost done with recruiting. I see some applications listed on websites and I see that GS still hasn't opened their application portal. Do you think other banks will still accept applications if I apply ASAP? I also just began reaching out to alums. Is networking the only possible way for me now to get a 2020 SA internship?
So I just went to Lazard's website (applications advice page) and found that they are opening up their application for summer internships in September, but on their career page, internships have been posted since May?
Please let me know.
Cheers,
Applications are rolling, so it's first come first serve. Some groups/banks may already be done, but it's not all over.
You need to start networking ASAP especially being from a non target. Applying online is a black hole. There are some military programs (diversity recruiting) that you should look into as well
Thank you so much. So what I am understanding is that some banks go through target schools and finish recruiting then open online applications for non-targets to apply afterwards. Does that sound right?
Also what should I be focusing when I talk to my networks? Just listen attentively on their experience, ask thoughtful questions, and sound passionate about IB?
Maybe on a one-off basis where they need to fill spots, but you should give yourself the most amount of time you can. I don't think any banks are specifically later on the non-target schools
Yeah, they're not dumb and know you're trying to get an interview. Ask them intelligent questions, see if they can refer you to someone else to talk to. Would definitely reach out to any military guys you can find on LinkedIn, having a common connection is a better network.
I would absolutely start networking with potentially connections you know as soon as possible. The fact you were in the military does give you have an edge. The discipline, guidance, and ambition is not something that is available in a civilian position. Brush up on your excel skills, learn basic LBO, M&A, and Financial modeling. I would also recommend reviewing questions for the C.F.A to expand your financial knowledge. You have an excellent chance, just be confident and put time in when available.
Thank you that gives me hope. So when I am reaching out to people, do you believe that I should leverage my military experience to show discipline, guidance, and related qualities along with my passion and interest investment banking?
Please let me know! Cheers.
Yes, you you should have a balance of the qualities of the military that you acquired and also a good understanding of finance. If you can you display both of these two qualities, it is will be extremely hard to compete with you. I would say 95% of people won't be able to compete with you because of your military experience. Don't let that military experience go to your head, make sure you a solid and well understanding of finance as well. Make sure you study LBO, M&A, DCF, Par values,, different type of valuations and especially review C.F.A questions. You will be literally 99% ahead of your competitors. There are also some great resources here so check them out. In the future, you might want to consider a C.F.A or an M.B.A. Time will tell and experience will define.
Sounds good! One more question, my GPA is not the best... it's 3.24. I do realise that if I use my networks to prove that the GPA isn't the best estimate to show myself as an individual, will it be fine? I can explain for my low GPA.
That's an automatic ding from most banks. Even while networking when people see that they won't want to vouch for you because it's a major red flag. Honestly, I'd stick with networking with boutiques as they're the only ones that would consider this GPA
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