SA NYC IBD BB this summer... What is the best way to go about networking, applying to other places, etc., so you aren't stuck with nothing if you don't get the return offer at the IBD SA?
Should I be already be talking to other BBs/EBs/MMs to get into the accelerated FT process? Or wait until the end of the summer and get in touch in August if I don't get offer? Tips?
| +269 | BOFA ALREADY TRYING TO COVER UP THEIR TRACKS | 25 | 8s | |
| +151 | Investment Banking US League Table YTD 2024 (FactSet) | 84 | 11h | |
| +143 | Big Layoff at Barclays - 5/1/24 | 81 | 23m | |
| +87 | “Americans just work harder” | 53 | 1d | |
| +83 | Would comitting to ATL İB be stupid? Please give feedback. | 45 | 3d | |
| +69 | Sleeping on Jefferies??? | 33 | 2h | |
| +66 | A shitter's comprehensive guide to sophomore year recruiting | 7 | 22h | |
| +59 | NEED NY RESTAURANT RECOMMENDATIONS | 38 | 3d | |
| +58 | What's up with RBC nowadays? | 24 | 21h | |
| +50 | 5-Step (Borderline Psycho) Pre-Superday Routine I Used to Land Every IB Internship Offer | 4 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
also interested
in this boat too.
Accelerated FT varies bank to bank. I remember some having superdays no more than a week or so following the end of SA programs while others may have waited a few weeks. These were all considered accelerated for candidates who were "in the know" and occurred before any kind of OCR processes. That being said, I still think it is a little early to start conversations with contacts at other banks regarding FT recruitment. You haven't even start working yet nor given your group a chance. This can say a lot about your intentions to some people. Obviously stay in contact with whoever you are close with, but don't start expressing explicit interest in their bank until later in the summer.
More importantly, focus on the more immediate challenges that face you. You should be very excited right now to be starting at a NYC BB in a little over a month. Instead of worrying about not getting an offer and dedicating time to brainstorming contingency plans, focus on preparing for next month. Think about what you can be doing to make sure you hit the ground running and crush it this summer. If you already think you don't have what it takes to get the return offer, what makes you think other people are going to want you? Trust me, having that kind of mentality will detract from your confidence and be noticed at work.
When you say "stay in contact with whoever you are close with", how do you go about this? i.e., where's the line between "i really enjoyed getting to know you during SA recruiting" and "I'm obviously reaching out to you BC I'm curious about FT"?
For me it was updating all of my close contacts on where I had ended up for the summer and thanking them for any help they had provided along the way. If they were in the same city I was to be interning, I suggested meeting up for a coffee in the coming months.
Cant stress this enough, spend almost all your time working on getting the return offer. With that offer, recruiting at other places will be pretty easy as other firms will want you. Not getting an offer is almost a death sentence. Know plenty of people who didn't get return offers at BBs and either landed at MMs or out of banking totally. Worst way to set the mood in an interview is describing why you didn't get a return offer.
Turning summer IB internship into full time offer (Originally Posted: 03/17/2014)
Hi WSO,
Im interning this summer at a BB. Im not from a target & had to grind ridiculously hard to get in, & want to make sure I can translate this summer into a full time. Ive heard the advice of getting close to senior bankers & working hard and asking to be involved etc.
But how do I go about this? is there a strategy or ways to do it? Im also not an excel wizard (yet) although I can perform most functions, & I haven't had a lot of experience with performing valuations.
So please anyone if you can give me tips or real world strategies and things that have worked for you guys Id appreciate it a lot!
Couldn't agree more. Getting the offer is the most important thing. After that it's pretty easy to trade up banks. It might be tough to trade up than one tier, but if you don't get a FT offer it's incredibly tough to get another job and you'll likely need to trade down tiers. This applies for associates too.
Over the summer, assuming you have any spare time, touch base with some of the people you met during recruiting and ask to meet up for coffee. Don't wait until the last week to do this either. Do half way into the internship and just make it as a casual coffee chat. This will keep the relationship fresh and it won't make it seem like you're just meeting up with them because you think you're not going to get an offer. I met up with a guy that I recruited with for coffee during the 5th week of my internship just to catch up, told him I was really enjoying the internship, was fitting great with my group, and was asking how the interns at his bank were doing. Pleasant conversation and I never asked him for an interview or anything. At the end of the summer he called me to see if I would come in and interview (I didn't because I already accepted my offer) but just that one coffee essentially gave me a great back up option in case things didn't work out.
I think GeekRX makes some pretty good points too. Start prepping to make sure you're prepared for your current internship and you'll do just fine.
10% luck 20% skill 15% concentrated power of will 5% pleasure 50% pain - 90 hour weeks
Hate to look self-promoting, but our Internship Guide is really good about giving you a very accurate play by play, week by week account of what it is like to work as an IB intern and how hectic / stressful it can be: http://www.wallstreetoasis.com/guide/wso-internship-guide (plus, it's actualy a very entertaining read)
I think just having a better understanding of what is in front of you can do wonders for your performance.
Good luck to all of you! Patrick
ps - also, remember on all of the company overview pages in the WSO Company Database, we show the % of interns that get FT offers (with distributions)...so if you want to know what your odds look like, that is a great place to check
And a 100% reason to remember the name.
Would it be worth doing some light networking if you want to keep your options open for different types of work after the SA stint, just in case the work isn't as good a fit as you thought it would be? (I'm not actually in IBD this summer - I'm doing S&T and I'm really excited about it, but there's always a chance that the work might not be as good a fit as it seems without actually doing it).
You should definitely focus on succeeding within your bank first, which also includes networking hard within the company.
Since you haven't worked a single day in the position you were offered and already thinking of jumping ship you might put yourself in a very bad position. If you rock your internship, have multiple VPs/MDs vouch for you even if you don't get a return offer they can provide you a solid recommendation.
Awesome thanks! Not really thinking about jumping ship right now - just wondering about what will happen if it's not as good a fit as it seems as I don't have much experience. But I'll definitely focus on working hard - it was my top choice division in my top choice bank, so I'm really looking forward to the experience!
Is it possible for those of us not at BB's this summer to interview in the accelerated pool? It seems like I will only have 2 weeks to accept a return offer if I get one (correct me if I'm wrong) so it seems like accelerated recruiting is the only way to upgrade banks.
I did a my SA at a MM not in NYC and about half way thru the summer I decided I couldn't see myself doing FT in the city. I reached out to a few contacts during the latter half of the summer I had a good relationship with and mentioned my situation and most were very receptive. But the best way to assure I got to NYC for FT was getting the return offer.
I come from a non-target and with an offer in hand was put into multiple accelerated super-days with just a few references from guys not very senior. FT recruiting with an offer was far easier than SA recruiting despite the limited spots.
Also, if you did SA recruiting with a firm and things didn't work out for reasons such as timing but there's a solid relationship with HR reach back out to HR and say your still very interested. I was put on hold at a BB and accepted the MM SA offer before the BB could give me an answer and at the end of the summer reached back out to HR and was accelerated to end up getting the offer for FT.
It's always/never too early/late to begin networking.
Don't remember who posted it but it's sage advice I once read on WSO. That said, the advice to focus on your work performance takes precedence.
Ea delectus omnis laborum dolor temporibus et. Praesentium provident natus est et unde ut sint. Aliquid ea non blanditiis voluptatibus. Repellendus consectetur soluta qui enim. Consequuntur ipsa fugit doloremque qui rem saepe qui. Ab dolorem amet enim id neque explicabo officia.
Culpa quod cum debitis voluptas minima quasi placeat. In quisquam totam quia voluptas delectus molestias. Omnis optio architecto necessitatibus sint ipsa eos dolorem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...