Where should I apply for summer IB internships?

Career Opportunities & Internships Investment Banking
1

<p>Hello everyone, I'm pursuing a M.S. in Finance at South Florida and I'd like to know what kind of places I should apply to for summer investment banking internships. I know I haven't got a chance at companies like Goldman Sachs because I understand they only recruit from a handful of elite schools, but I was hoping you all might be able to recommend a few places I'd be competitive at. Thanks in advance!</p>

<p>(Note: I don't have a graduate GPA yet, but my ugpa was a 3.3.)</p>

2

<p>Short answer: Apply everywhere. What do you have to lose? I’d even apply to Goldman (even though your odds aren’t great). Why not cover your bases? </p>

<p>Apply to all the bulge brackets, all the boutiques, all the middle markets, and all local I-banks.</p>

3

<p>It’s going to be tough, given that you’re at a non-target school with a relatively low GPA. I’d recommend 2 different approaches that you can do in parallel:

  1. Apply to a bunch of boutique investment banks. Try networking a ton, starting right now, if you haven’t already. Don’t just rely on OCR, especially if you’re at a non-target. Reach out to alumni you know at each bank. It’s much easier to get into a boutique for an internship, and that experience can hopefully be a springboard to a bigger firm next year when you recruit full time.
  2. Apply for non-investment banking jobs at more competitive firms. Let’s be realistic - you have very little chance of breaking into IBD at a BB this summer. But there are plenty of other positions that will give you good exposure to banking while also giving you a solid brand name. PWM is one example, or equity research. I know plenty of people who have summered in PWM at a bulge bracket and managed to, through the connections they developed over the summer, transition into an IBD group at the same bank.</p>
4

<p>The first thing to remember is that everyone has a shot at any bank - the opportunities may not be as numerous, as obvious, or as readily available, but the opportunities are still there. Coming from a non-target with a marginal GPA you will have to rely on heavy networking to have a decent shot at breaking into one of the better firms, whether BB or solid MM or boutique (reputable and such). That said, pursuing a Master’s in Finance will definitely make you far more attractive to smaller and no-name boutiques that often look to students with a finance or accounting background to fill roles considering they often don’t have the resources or time to spend training someone in everything from the 3 financial statements to merger modeling. </p>

<p>If I were you I would absolutely cast a wide net - apply to all of the small shops and in your cover letter, be quite forward with them - express an interest and state your intentions of following up with the firm via phone or email (if a phone number is available, I’d go with phone). Then make sure to follow up - with really small boutiques, don’t be afraid to be a bit more aggressive and really show your interest and intellect. Additionally, I would apply to all of the BBs and more reputable shops as well - especially if you have any connections willing to pass your resume up the chain - remember, a long shot is still a shot. Good luck and if you have any other questions, feel free to PM me.</p>

<p>IBanker</p>

5

<p>I found this extensive list of dozens of internships and careers in investment banking that you can apply for. It’s pretty cool, organized by state and contains direct links to the application, with no registration required or anything. Seems to be up to date:</p>

<p>[List</a> of jobs and summer internships in finance/investment banking](<a href=“http://collegiateinvestors.com/careers-and-internships/articles-on-financial-internships/151-internships]List”>http://collegiateinvestors.com/careers-and-internships/articles-on-financial-internships/151-internships)</p>

6

<p>There is some very useful information here. Thanks a lot guys, you’ve been great, I appreciate you all taking the time out to help me.</p>