Jan 14, 2018
what is the average GPA needed to land a internship in corporate finance?
im a Econ major at a non target (UMD) who is a freshman right now. I wanted to get a corporate finance internship during the summer after sophomore year. I was wondering what GPA do I need in order to qualify for a internship? is a Econ Major good enough?
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Comments (25)
It's going to vary company to company. Some will require a 3.5 hard-stop and others won't mind a 3.0.
An Econ major is definitely good enough. Just work hard as per the advice of your previous respondents to up that GPA and tick the boxes on the other reqs and you should be solid.
I joined a international economics club. does that relate anyway to the internships I'm applying to?
Probably not haha but if you enjoy the club and actually do something in it, then it's fine. Is it mainly just a speaker series kind of club?
they do Market simulations and activities.
@yogurt_dynamics got it right. Above a 3.5 and you are golden- Some companies cut off at 3.3, others at 3.0. Just apply to a bunch of reqs online and also try to reach out to the managers and recruiters at those places. Show that you have a real interest in the company and you'll do alright.
Also, don't give up at any point this academic year. I got the offer for my college internship in the last week of April.. Some companies don't know what they need til a month before they need it.
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if I did bad my first semester(2.8 gpa) will it be impossible to get a internship by the summer after sophomore year?
What is your cumulative GPA now? It's definitely not impossible to get an internship with a bad GPA, it's just that the cards will be stacked against you, and you might get auto-dinged when applying online. This means you'll have to lean more heavily on networking to get an internship.
The good news is that you're only looking for an internship after sophomore year. While it would be great to have an internship that summer, it's by no means necessary.. I spent that summer sitting on my ass reading WSO, trying to figure out what I wanted to do with my life. I thought I'd be working that summer for my brother, but the contract he was relying on fell through. Anyway, my junior summer I got a F1000 CF internship, and then landed a top FLDP offer after that.
Think of it this way, your junior summer is ideally spent in the internship that will land you your target full-time job. Your sophomore summer is ideally spent in a role that will land you a junior summer internship. It's like the "internship for an internship". That said, often times you don't actually need to do anything at all. If you want to be an overachiever, take anything that seems remotely financial.. Grunt work at a small PWM office, part time accounting work for a family farm, whatever. Anything that helps craft your answer to "Walk me through your resume."
Worst case scenario, you sit on your ass and read WSO (and learn a ton in the process). Not the end of the world.
thank you. is it not usually common to get a internship the summer after sophomore year? also my cumulative is a 2.846 since its my first semester as a college student. could you share any tips you have to try and increase your chances of getting a internship?
So you're currently a freshman? I'd say most people do not have a meaningful internship after sophomore year. It's really helpful to have one, but you can still land a top internship the next summer without one.
My first piece of advice is to get your GPA up, whatever it takes. Take the easiest professors, take easy summer classes, maybe even overload to take an extra easy-A class. Whatever you need to do to get your GPA up. The good thing about still being a freshman is that your GPA is highly malleable.. But it will mean that you will have to change your study habits if you want to be serious about giving yourself the best chances at getting a good internship or FT offer. Any GPA below 3.0 will remove you from consideration for internships and FT jobs unless you do some networking.
Which leads to the most important thing: networking. I landed my internship and also my FLDP offer by contacting people in the company and setting up a phone call with them. This led to a few more calls, which led to interviews and offers. Talk to your relatives- I'm sure you know someone who can either help you out, or put you in touch with someone who can. If you can talk to them and make a good impression, you can possibly land an internship without even worrying about your GPA.. But again, while networking is the most important, having a low GPA stacks the deck against you.. While guys with a 4.0 are getting interviews handed to them.
thank you for the advice. I was wondering if you usually have to meet a person you're networking with face to face in order to land a interview or can you do it over the phone? i was also wondering if you can network with speakers who come to finance clubs to talk about their jobs? yeah im a freshman
did you cold call for the FLDP internship you had?
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1.8 GPA on Corp Finance = Done? (Originally Posted: 03/07/2011)
Asking for friend - don't know how to answer him.
"Are you done if you get a C in corporate finance and when you retake it it's not significantly better? Like going from a C to a B? does that totally eliminate your chances in going into banking since they scrutinize your transcript like a starving raven preying rats?"
I also messed up finance courses, I fell from A and A+ before the final exam to like B/B+/A- , I feel like shit right now.
I suggest you take other finance courses that are available and get As in those, no point in re-taking this.
a C is a 2.0
first off, 1.8 is lower than a C.
second, no ones going to scrutinize your transcript
third, i would only be concerned if the said 1.8 or C or whatever accurately reflects your 'friends' technical knowledge.
More important is WHY you scored so low......
it has to be either
1. laziness and/or overconfidence (most likely case)
2. lack of ability (not usually the case, these courses involve nothing special to master)
^ true 95% of the time. If you can frame it in terms of a 3rd option and somehow compensate, you will be ok.
I screwed up in intro to corpfin because I was very distracted and lacked drive. I retook it and 4.0-ed, and then did very well in my other advanced finance classes.
You can recover and still make yourself a marketable candidate. If your GPA is good, you shouldn't worry. Laziness can be fixed.
The real issue is if a lack of ability led to your friend's downfall. If he really cannot grasp the concepts no matter how how hard he tries, he is in deep shit.
^ yup.
Good GPA is really helpful. If your GPA sucks, you get creative with recruiting. But if you can't do the work......
Take other finance classes and Ace those.
Well no one looks at your transcript before you get the offer. Assuming you do well with technicals in interviews, it's highly doubtful they will revoke it during background check.
Tell you friend not to worry. He can still get into banking regardless of grades. But, make sure your friend knows when I go through the drive-thru, I need lollipops for my kids. It keeps them quiet for a bit.
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The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee
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