<p>I did a summer analyst stint with a bulge bracket last summer in IBD and I've successfully got an offer from another well-capitalized bulge bracket this summer. I'm certainly no expert, but I'd be happy to answer anything related to recruiting or IB in general.</p>
<p>there are no well capitalized bulge brackets</p>
<p>thanks for the insightful question birdman. Now just go back to sneaking in through the SEO door.</p>
<p>No, that's a fair point birdman. I should've said "relatively better capitalized" bulge bracket.</p>
<p>I'd say you implied that in your first post...</p>
<p>Anyway, you may as well preempt the first question and tell them how you got your SA job</p>
<p>I intern/ed in a Specialty Finance Boutique Investment Bank and am going to intern at another "relatively well capitalized" BB ( :-) ) in Fixed Income S&T (Hopefully Exotic Rates), so I would also be happy to answer any questions if I can, particularly because I've done banking and have been on trading floors and will be this summer.</p>
<p>For my first internship, initially, luck and never taking "no" for an answer helped me get the job. I was very aggressive in terms of networking and I started early. I reached out to many different alums: many ignored me, some helped, and one ultimately came through with a summer offer. I offered to work for free, but he was nice enough to get me looped into the actual summer analyst program so I'd get some kind of compensation. The most valuable aspect of that experience, of course, was learning first-hand from some of the best and the brightest.</p>
<p>The first internship is always the toughest one to get -- once you've got a great name on your resume, it becomes much easier to get interviews and offers. This year, I still networked but most of my interviews came through the traditional on-campus recruiting platform. Even though I'm at an Ivy, competition to break into IB is fierce and having two really relevant internships on my resume is what ultimately separated me from the rest of the pack. </p>
<p>In my experience, work experience trumps GPA, coursework, SAT scores. If you're able to intelligently talk about the markets (not just regurgitate the FT or WSJ, but adding your own insight) and discuss things conceptually, you will be at a significant advantage. I drew on my past experience to have great conversations with my interviewers. At the end of the day, it comes down to connecting with your future co-workers. You should demonstrate that you're intelligent enough to get the job done, but you should also focus on why you'd be a good fit for Bank X or Bank Y.</p>
<p>haha wasnt expecting the hostility for my comment (and im flattered you actually took the time to read through my past posts thetruthcomesout though the ad hom attack is lame).</p>
<p>what i probably should've said in somewhat of a less sarcastic manner: what made you choose to go with a top bb (im assuming gs or jpm) over a top boutique, which i saw you got plenty of interviews for and even seemed to name yourself after ("pure advisory")? i'm currently trying to make the same decision myself, with offers from top bb and top boutique to decide between, and am leaning in the opposite direction you did - your insight would be helpful.</p>
<p>I had a much easier decision, as I knew I wanted to do trading so sell side at a BB made sense. I did look at lots of Prop firms too, and in the end decided I liked the culture and feel better of BB's than Props. Also NY > Chicago (at least while you're young, imo). I know that obviously wasn't directed at me but figured I'd give my reason.</p>
<p>birdman, congrats on the offers. Yes, I am indeed smitten with the elite boutiques and I'm still certainly huge fans of them, especially in this market. My decision came down to the fact that I'm self-admittedly a bit of a prestige whore. I think the name "Goldman Sachs" still reverberates a bit more readily than those of Evercore or Greenhill or Moelis. I was also placed into a top group at GS, so the decision was relatively easy. I asked all my mentors a question: "If I apply to X for a full time position, what jumps out at you more: top group at Goldman Sachs or advisory at a top boutique?" Almost all said the former.</p>
<p>That said, you can't go wrong with a boutique offer, especially with the way the markets are going right now. Would you be doing M&A or restructuring or both? The experience may be more valuable at a boutique, but I think a strong BB name will carry more weight. Let me know what you decide -- you're in a very fortunate position to be able to choose between two great offers.</p>
<p>hey, thanks for your insights</p>
<p>when it comes to networking, what exactly does it entail? From my understanding, it's just emailing alumnae from the directory, saying who we are, that we're interested in finance, and asking for an informational interview. How do you actually develop the relationship and keep in touch and such?</p>
<p>When your emailing, don't use the words "informational interview"-- just ask them if they have a few minutes to talk.</p>
<p>In order to stay in touch, I'd recommend just following the news of that persons group/bank. If something big happens, try to come up with a good question you can ask them about it.</p>
<p>It also involves going to EVERY related on-campus event (and even off-campus networking nights) and meeting with every person you can. Have some short story you can tell that will keep you interesting and that you can mention again in the future to remind them who you are.</p>
<p>Also, talk to your finance professors to see if they could get you in contact with any of their past students who are currently in the field</p>
<p>guguru, you actually nailed it on the head -- networking is all about building genuine relationships with people. It is generally easiest to build relationships and establish rapport with people who are in some way connected to you: alumni, friends of friends, friends of family, etc. When reaching out to them, it's important to be genuine and have a sincere interest in what they do. Ask them questions about their career, ask them for advice, and keep everything conversational. For example, I randomly contacted an alum at my school last year and he offered to get on the phone with me. He told me about his career path and I asked him for advice regarding an upcoming internship. We stayed in touch throughout my internship through emails and phone calls and when I came back we met up for coffee. I shoot him an email every now and then with questions, and I know he'll step up to bat for me when the moment calls for it.</p>
<p>You indicated that in your experience that work experience trumped grades, scores, etc. Where would rank networking? Sometimes, especially these days, knowing someone is a good start, but getting your foot in the door won't necessarily keep it there.</p>
<p>There's no set order -- everything is important in this market, including networking.</p>
<p>IMO, networking is what gets your resume to the right desk... and if you have a weak resume, that's as far as it gets</p>
<p>thanks for your replies guys,</p>
<p>when would you say its best to start networking? I'm only a freshman but I was planning on getting started pretty soon</p>
<p>I am really interested investment banking, but I go to a non target in texas do I have a chance if I networked my way and if I do how would I do that. Also, what EC's do banks like</p>
<p>^wow...did you even consider the past posts in the thread???</p>
<p>yay for 60k + 10k bonus lolz</p>