Where should I apply for summer IB internships?

BankonBanking
Wed, 09 Dec 2009 21:15:47 +0000

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.

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.

IBanker