<p>I'd like to inquire about getting a pwm internship at a bulge bracket firm during the summer of my freshman year.</p>
<p>How does a student go about getting such an internship? I mean, recruiting season is during the fall (maybe I'm wrong??) and thus I would have no grades to show to the recruiters. I even won't have any leadership roles in any activities during this time. So what will make me a more attractive candidate so as to receive the internship?</p>
<p>I've met many people with this internship experience after their freshman year, so I know getting one is possible at most firms (I don't believe Barclays offers a pwm internship to freshman and maybe a few others).</p>
<p>Lastly, do we apply online (firm's official website) for internships/full time jobs?</p>
<p>I’m currently an intern at a wealth management branch of a BB, which I managed to get through a different route than most. I met the SVP for whom I’m working at a career panel at my CC and chatted a bit about my interest in the financial services industry and my frustration with the lack of opportunities available to freshman and sophomores, especially those at institutions like mine, whose students are generally regarded as academically and intellectually inferior to those attending four-year colleges and universities. He told me that there should definitely be something available at the branch level and to keep in touch with him over the months leading up to the summer. I did, and I was able to get my internship without even formally interviewing with anyone.</p>
<p>Since he’s a financial advisor/planner, I’m not sure whether it is he who hired me, or the firm–basically whether my employment is by him and is being paid out of his compensation or by the firm. I say this because while talking to another FA, she asked me this question, and I didn’t really know. I’m inclined to believe the former due to my not having to speak to anyone else at the firm other than him and my not really having an interview, but still, I don’t know for sure.</p>
<p>I would think that the route to securing a PWM internship wouldn’t be very far off of the norm–emailing, calling, applying online, networking, etc. The banks whose business largely comes from asset and wealth management should have information about and applications for these internships posted on their websites or job search sites. I haven’t checked into UBS/JPM, but I know that there are tons for Morgan Stanley.</p>
<p>Networking is the most important and best thing you can do. Start now its a long term process that can help you a lot in the future. To make yourself a better applicant show you have an interest in finance, things like personal investing, finance clubs, etc.</p>
<p>Generally, you can feed the pigeons next to the zoo during the summer of your freshman and sophomore years, as far as formal junior summer recruitment goes. Most people know that a freshman/sophomore internship is a perk given to children of friends or people like poster #2 who develop a mentor and dont really count that experience when hiring for the junior summer position.</p>
<p>I got a couple offers to work at Merrill Lynch branch offices around my home during my freshman summer. All you have to do is just set aside some time (2-3 hours) a week to make some cold-calls and/or send out your resume. I also recommend that you extend your search beyond BB PWM, and also call RIAs/Mutual Funds in your area and see if they take on informal interns.</p>
<p>I ended up interning at a Middle Market PWM branch since the experience was paid ($10/hr) and I had exposure to somewhat relevant tasks.</p>
<p>So did my D . All she did was answer phone calls and did some data input. She also had access to all the clients’ private information. I couldn’t believe it.
She didn’t learn anything and she quit after 2 weeks.</p>
<p>I agree with mhmm. The experience that counts is the summer of your jr year and the name of your school, your GPA are important, in finance.</p>
<p>Yeah, the work can be a bit dry sometimes. My internship has pretty much been cold calling and data stuff. But at the same time, I’ve been able to learn a lot from the resources and infrastructure that the firm has since there’s research published daily to the intranet. And I’m at least meeting people and making connections that may end up being very useful later on. </p>
<p>I didn’t expect too much from this, having only completed my freshman year. I’m trying to get something a little more relevant to IB or something similar for next summer, though.</p>
<p>I think this was true 5 years ago and back during my underclassmen years, but SA recruiting competition has certainly intensified since then. More and more kids each year are coming into colleges determined that they want IBD (even if they don’t even have the first clue in distinguishing DCM and ECM), and many are doing ER/AM/HF/VC internships as freshman/sophomore in attempt to stay ahead of the herd. </p>
<p>I would try to avoid the Merrill Lynch internships as those tend to be the least structured PWM programs out there and will teach you nothing about financial markets or asset management. Also, it’s important to be proactive, try asking for relevant work if you have nothing to do. Even if its just an academic exercise, it’s will still teach you something and it can be a valuable bullet point on your resume.</p>