which summer oppurtunities are better
Hey,
I interned at one of the big 4 firms in deal advisory during my sophmore year, i have an offer to go back there but i really want to intern at a better place for my junior year so i can set my self up for good IB offers next year. Currently my choices for the summer are 1) look for boutique banks in Canada (ive started cold calling now) 2) Work at the same place this summer (im pretty sure it can lead to a job, they really like me over there) 3) go back home (India) and work in a BB IB over there. I wanted to know which option y'all think is better if i want to aim for a full time role next year.
I know full time roles are tough without having an internship the past summer but i have dont really have an option anymore. I felt like this year i didnt do enough networking and i dont have a 4.0 so i missed out on internships.
Was about to respond, but couldn't take you seriously anymore when you said you didn't get internships because you "don't have a 4.0"
i get that you can get one with a gpa that isnt a 4.0 but mine was a 3.3 when i applied last semester, ive gotten a 4.0 last sem and will very likely get a 4.0 again. I came to uni as a soph because of Ap credits and didnt do all too well in what was my first year. So my GPA when i apply for jobs should be near a 3.7ish.
For the record, I got my IB gig with a dogshit sub-3.5. At the very least, once you're above the 3.5 threshold, it's not the gpa that's holding you back. A 3.7 is great unless you're trying to go to MS/Laz. Go out and network. I'd also recommend you pursue a different internship unless you really want to do this one; otherwise, I doubt you'd have a chance going for IB, especially in canada
Ive started networking alot better, started getting the hang of it. The thing is, when i was in my soph year all of my friends were in their freshmen year and they didnt really take any of this internship stuff seriously so as a result i didnt take it as seriously as i should have. I thought im from one of the best schools in country, worked at a big 4, ill atleast land some interviews (i generally do pretty well in interviews). But i barely landed any, i know my mistake and i will try to fix it for next year, but i wanted to know what to do to be best suited to land a job before graduating keeping in mind that full time recruiting seems tougher than summer.
Thanks for the honest advice, you think IB in Canada is impossible without a summer at the same bank?
Canada IB is more competitive for the top 5 banks (not necessarily the boutiques), so make sure you have the 3.7+ gpa. After this, gpa is really not going to matter. Are you a target? If not, you'll have to work even harder, but with effort it is doable if you want it enough.
It's going to come down to networking, so at each of the top investment banks, talk to as many people as possible in the recruiting teams. Best way to start now, get a LinkedIn Premium account and purchase InMail credits. Use the FindMyAlumni tool and contact your school's alumni at the top 5 banks (working in IB if that is what you want), tell them you're from their school & interested in their bank and would love to have a conversation with them. Even if they are not on the recruiting team, they will connect you with those on the team. Also, make sure at the end of every convo to ask for another connection (this is key) so that you have more and more people to vouch for your candidacy (assuming they like you of course).
As for your internship, look for something different to what you did last summer. Unless you are literally going back to a BB for IB again or f*cking Apollo, I would not be impressed to see the same thing for two consecutive summers. Boutique IB could be good if you get any live deal experience or perhaps a mezzanine credit fund from which you could leverage the experience to express an interest in a Lev Fin team. Understand full time recruiting is typically group-specific rather than generalist as well, so you want to be able to leverage what you did this summer for a specific group at that bank. Again, see if you can network with any alum to secure such a position & reach out to as many as you can to at least set up a phone call and chat
Don't Go back to india. Salaries are worse their and while banking is among the highest paid salaries there, it's nothing compared to USA. I know that India offers the whole package, but the money your paid is bad
Well if im being honest, im not too worried about the salary for the summer. Im more concerned with setting myself up for a job in IB next year. I guess the question is, does experience in BB in a country like India help me for next year? or should i stick with the big 4 even though i know i wouldn't accept their offer if they made one for a full time role?
The only reason people do SA's or even intern/work during college is in hope of a FT. If your not going to work at the Big 4 and your not happy there, don't think about it. Stay in America/Canada if you want a FT Offer. Just leverage your Big 4 experience into a FT Offer at a BB or EB
You struck out in junior year recruiting which is where all the full timers are sourced from. Just start in big four and lateral.
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