It's a shame!!!! This is my story...

Career Opportunities & Internships
1

<p>Hey guys,</p>

<p>this is my first thread.</p>

<p>I am sharing my story because I need your advice because seriously my nerves are shot!</p>

<p>I am an International Student studying at the University of Edinburgh, a British Ivy League University which is ranked among the top 5 in the UK and top 20 in the world.
I am studying towards my Masters in Economics. Since I was 16, I did internships throughout the summer. I have successfully completed internships in all financial sectors and in almost all financial capitals of Europe, including London, Paris and Zurich. </p>

<p>I've always wanted to work as an Investment Banker in New York City. I was aware of the competition, therefore I told myself that I have to start from the bottom (internship for lawyers, accountants etc.) in order to have a realistic shot against those Harvard/Wharton competitors.</p>

<p>SO HERE IT IS:</p>

<p>My goal was to get accepted to a summer internship program, NOT EVEN PAID, in NYC for this upcoming summer 2011.
I've called almost all firms...I kid you not!!!...more than 1000 firms!!!...around 50 told me that I should send them my CV...and none accepted me!</p>

<p>Honestly, I am so down! I don't know what to do! I mean the HR departments keep writing me that I have a great background and amazing references but at the end there were too many qualified applicants!</p>

<p>One of the firms which I had called forwarded my application to a friend who works for a Hedge Fund Company and then he forwarded me his response which was:</p>

<p>" To be honest, a review of her resume doesn't show anything that would
really interest us. We generally want far-more experienced people or those
further along in their education."</p>

<p>And now, my questions:</p>

<p>What do you advice me to do? I know that it's though to get an internship (UNPAID) in an Investment Bank/Investment Management/Hedge Fund Firm but I have all in all 35 months of working experience (only counting my internships and not even volunteering)...what do you think I should do?</p>

<p>Thank you so much!!!</p>

<p>Best,
Laila</p>

2

<p>I saw that you reach out to me on another forum. Send me a PM and we can touch base more - let’s get into a bit more detail and I will try to help you to figure this whole situation out.</p>

<p>IBanker</p>

3

<p>Dear Laila,
I’m sorry to hear your internship search hasn’t been fruitful thus far. Having 35 months worth of experience should most definitely land you a break! (esp. when looking at unpaid opportunities). Maybe you need to revise your resume? Also, are you sending in a cover letter… that can often be very important.</p>

<p>Don’t be distraught. Things will look up! </p>

<p>Regards.</p>

4

<p>Why would you want to give unpaid labor to absurdly-wealthy corporations?</p>

<p>If you’re going to volunteer, at least make it a worthy cause.</p>

<p>Offering to work for free is not only transparently desperate, but completely undervaluing yourself and your time. Who is going to give any significant responsibility to someone who is so hopeless that they’re willing to work for nothing?</p>

<p>You’d end up filing papers and making coffee all day. If you’re going to do that, you might as well just apply for a clerical job and at least make a semi-living wage.</p>

5

<p>Thank you all so much!!!</p>

<p>To BankonBanking: Thank you so much!!! I have send you a PM…I really appreciate your help and I am so thankful for your support!!!:)</p>

<p>To fragonard32: Thank you for your advises. I am going to give my CV to my uni’s career service so that they can revise it. And yes, I am sending a cover letter as well. Most of all, I thank you for cheering me up!!! </p>

<p>To polarscribe: Thank you for letting me know this. I never thought about that. You’re are probably right. I only assumed that, since everybody is trying to get an internship placement in NYC, I would have an advantage or slightly increase my chances by working unpaid. Thanks again!</p>

<p>Regards,
Laila</p>

6

<p>It might have something to do with your international status. They might just not want to deal with getting you a visa and all of that legal nonsense :stuck_out_tongue: </p>

<p>Good luck with your summer plans, though! I’m sure you have some great opportunities elsewhere.</p>

7

<p>I agree with mhmm. Visa regulations have been reworked thanks alot to TARP restrictions(banks who took federal aid), so most banks now aren’t hiring international students. The really good and impressive ones are being sent to their big offices outside the United States (London, Dubai,etc.). You also have to keep in mind that ever since the financial crisis, analyst recruitment has taken a hit.</p>

<p>networking is a huge deal. Especially for international students like you and I. Im only 17 (1 more semester till I finish highschool!) and this summer I will begin my 3rd banking internship. How did I do it? I wasn’t shy about it. I cold-called and did everything any other Sophomore would do. Except I really shined when it came to interviews. They liked how passionate I was about finance and how easy to talk to and sociable I am (I actually invited the analyst and the intern for a game of 2 on 2 basketball…and that’s only within 40 minutes of talking to them!), and how much I really knew despite being in highschool (all the people that interviewed me said that I knew more about banking, finance, and economics than 90% of college students and even college grads who applied for the same position.</p>

<p>So sometimes it all boils down to very subjective things. Whilst it might be that the usual recruitment culture here (arabian gulf) is different, being “out there” is really important. The names on your resume dont matter at all if you can’t answer basic questions in a good way.</p>

<p>Send me a private message. We can discuss this more privately if you like. I know some large regional banks here who would die for someone like you. And on the upside, Goldman Sachs and the rest of the BB crew are hungry for people with on the ground experience in countries like Saudi Arabia.</p>

<p>Private message me to discuss this in more detail. I think I can help you with landing an offer here.</p>

8

<p>To URichmond2010: Thank you very much for cheering me up:) I really appreciate that!!!</p>

<p>To Konig: I am very impressed by your working experience!!! Well done!!!:slight_smile: I have sent you a PM. Thanks a lot for your help!!!</p>

<p>Regards,
Laila</p>