<p>S is a great student at top school with a nice resume. Anyone else with good stats having
a difficult time getting a summer internship?? He will be a senior next year, had a good internship last summer but is having a difficult time now. Any advice???</p>
<p>top school meaning? how top is top school?</p>
<p>top 15 for business</p>
<p>It’s unfortunately really late. Recruiters were on campuses months ago and most interns for this summer have already been selected by major employers. Since he’s a rising senior and the market for finance jobs is not good now, if he can afford to do an unpaid internship he should blanket alum from his school in places he’s interested in working with resumes and a cover letter offering to work for free.</p>
<p>He did have 2 interviews on campus, but they only took 1 kid from the school. He does
have an internship with a Sr. VP of a well-known financial institution. It pays, but certainly
not the kind of money he was hoping for…Bank of America used to hire many summer interns
from his school and this year they didn’t even come to campus. </p>
<p>Any advice for permanent positions and how early he should go about it.</p>
<p>Thanks!!</p>
<p>In banking most of the permanent positions will be filled from the intern pool with fewer offers going out this year. This is why I suggest the investment of working as an unpaid intern if he can get a spot someplace he’d really like a permanent job.</p>
<p>I have a desk filled with resumes of great kids at great schools that won’t find jobs this summer so are going to smaller PE firms as unpaid interns. Then they’ll work longer and harder than everyone else if they’re smart because only a few will get offers.</p>
<p>The next few years will be extremely competitive for desirable finance jobs, working contacts will be key.</p>
<p>I’m a finance major, and also will be a senior next year. I applied for +/- 50 positions and had 8 interviews. So far I’ve received 5 rejections, 1 solid offer, 1 potential offer (depending upon their budget for interns) and 1 that hasn’t given me any answer yet (despite multiple follow up attempts on my part). </p>
<p>Internships are out there, but you’ve got to be extra persistent this year. Unfortunately (like hmom5 said) it’s really late in the school year to be starting an interview process now. I know my campus doesn’t have any more on-campus visits scheduled this semester (unless something happens to get posted at the last minute…) so those who don’t have internships are having to look outside the college recruiting office to find positions. As simple as it sounds (and maybe you’ve already tried it) I’d suggest googling “Finance Internships” + your local state/zip/etc. and see if any open postings come up. I’ve also noticed that in this economy, the bigger the company, the more likely they are to be hiring interns. So I would look to those companies first, even if you have to go about it by getting the main HR phone number for the company, calling to fish for info, and possibly getting someone with decision-making power on the phone.</p>
<p>Best of luck to you. It’s rediculously tough right now, and I feel fortunate to have an offer. A week ago, I wasn’t sure I would get one at all.</p>
<p>Hi Foto2gem, it can be daunting, but he should apply to as many companies as possible. If he is interested in doing corporate-level finance, perhaps he can look into applying at fortune 100 companies. If he is interested in banking, it’d be a good idea to get a summer internship this summer even if its unpaid, since that will help a lot for full time recruiting. He should start cold calling investment companies.</p>
<p>Top 15 undergraduate business school does not mean target school. Of all the universities in the US, I would only consider Wharton, Stern, Sloan, UVA, UT, Haas, Ross, and maybe 1-2 others to be targets for IB.</p>
<p>I was luckily able to secure a hedge fund internship, something I thought would be really difficult to do, by applying to hedge funds directly with my resume and cover letter. I did this relatively late (March). I sent them in return receipt requested envelopes to make sure they were not overlooked. You have to keep trying anything in this economy. You certainly can’t just sit back and wait for a financial internship to show up on a job board. If you do, that position will be so inundated with applications yours probably won’t get reviewed. </p>
<p>I go to a top 50 school, but certainly not top 10.</p>
<p>If anyone is interested, I can give some more advice on what worked for me.</p>
<p>Pure, your list is completely wrong for any ibank I know, and I’ve been in the business with a BB for three decades. The most recruited schools by ibanks are: WHYPSDD.</p>
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<p>Whoops, I meant of all UNDERGRAD b-schools only the aforementioned schools are targets are for IB. Ivies, Stanford, Duke, etc are not undergrad b-schools and no brainers</p>
<p>That’s better, but I wouldn’t call Haas or UT targets and you better be exceptional at the other two.</p>