Convergence

How strict are they about this? For example, I've heard most top firms have GPA cutoffs around 3.2-3.5

Does this mean they won't look at you if your gpa is even .1 below the cutoff?
For example, could other factors (internships, work experience, etc) land you an interview?

Dawgie

Cutoff is 4.0, anything lower don't apply.

aquamarinee

I spoke to one of the executives at ML and it's around a 3.5

Convergence

how strict are they about the cutoffs? For example, will a resume be dinged immediately if it doesn't meet the cutoff? Or can work experience/internships make up for a lower gpa?

rocketman08

The competition for most IB and Consulting jobs is steep. You really need a good GPA.

Even if firms do have a 'cutoff' they might only grant one face-to-face interview for every 10 applications they receive so unless your application really jumps off the page then they generally wouldn't bother with those with the lower GPAs (given that there isn't a lack of those with much higher grades in their applicant pool).

theoneo

Networking can trump GPA

A lack of networking necessitates a high GPA.

dan2k915

^^^^ so true.

southpasdena

dawgie your wrong, oh so wrong. just go back to your accounting. nothing lower than 7.0 accepted unless you can network well, than a 0.1 will do

Dawgie

I must be going off old statistics, I apologize.

kenneth2005

Networking is important... prof experience is important too... but I'd say make a great first impression with a VP, MD, or partner (if one is there) during the interview. I got a private equity job as a college freshman and I didn't even put my GPA on my resume. Just have a good conversation.

Or this may just apply for California... New York is probably a lot more formal.

hermanns

So, lets say I graduate BYU with a 3.9+ in finance (and magna or summa), and my uncles best friend/best man at his wedding is a VP of bank relations and market infrastructure at goldman sachs in jersey city who thinks highly of me. He has been with goldman for over 25 years btw. What are my chances of getting an internship in IBD or S&T at GS?

cryptography

i would think your chances of getting a final round are pretty high if you can speak intelligently at the interview and learn about finance and the market

rocketman08

Connections can always help, but they're never a substitute for actual "substance" in a candidate. Connections can help a bit in the earlier stages of the process (such as getting an interview), but generally don't count for too much when it comes down to final decisions. To get hired you have to prove yourself in the earlier stages of the process or during your internship.

There are generally far too many people involved in the hiring process for one person to be able to just say "yeah I know that person let's just hire them" if the others weren't impressed with the interviews or other factors. Obviously there can be exceptions, but generally speaking a connection might get your foot in the door but after that you've got to prove your own worth.

hermanns

Yeah, I'm not really banking on it getting me a job by itself, but I just want an opportunity to at least have a good shot. I think if I pull grades like I suggest (I am about to transfer with an aa degree and 4.0gpa) I should have a pretty good shot already from a good undergrad b school like BYU.

I am not transferring until winter semester though, and until then I will be working or doing something. I am about to type my resume tomorrow to start a job hunt because other than 2 minimum wage jobs I had at 16 and 17 (fast food and automotive upholstery) I don't really have anything outside of grades and knowing someone to help me. I was planning on dropping off my resume at a bunch of banks around town to see if I could get any type of job or internship. Do you guys have any suggestions as to what kind of work I should look for that would help me the most down the road? I would have planned ahead better, but I didn't exactly expect to be in this position, but in the long run I think it will do me more good taking some time off from school.

This summer my eco professor I have had the last year for micro and macro will be doing a summer reading list with me on investments and banking where I will read a bunch of stuff he picks out, and we will go over it every week for like an hour. I think this will help me get practical knowledge that will help me when I need it such as an interview. Also he is going to help me start an online investment program, so I will be doing some trading this summer. What do you guys think about these two things?

Also, I plan on doing some other networking after I get to school, and joining the investment banking club etc. But that is a good ways away and I am much more concerned about finding work right now.