No internship after 2nd year

Whats the next best thing to do if u havent secured an internship after 2nd year?? just random work experience in any places that u can find??

Reply 1

Intriguing Alias

16

Original post by goku90

Whats the next best thing to do if u havent secured an internship after 2nd year?? just random work experience in any places that u can find??

Over summer? Would just have to get any sort of finance experience, failing that I guess any sort of office work? :s-smilie:

Reply 2

Jaldune

Enjoy your final summer. Internships aren't the be all and end all. Presuming you have some form of work experience in your life - which anyone should have by the time they're 21 - it won't make any difference.

Reply 3

NW86

12

Original post by Jaldune

Enjoy your final summer. Internships aren't the be all and end all. Presuming you have some form of work experience in your life - which anyone should have by the time they're 21 - it won't make any difference.

This is in the IB and Consultancy forum

It WILL make a difference

Reply 4

wanderlust.xx

18

For anything other than IB, don't worry about it. For IB, go out and hunt for some work. If IB isn't your passion, don't grind through just for the money.

Reply 5

The_Don_123

Original post by Jaldune

Enjoy your final summer. Internships aren't the be all and end all. Presuming you have some form of work experience in your life - which anyone should have by the time they're 21 - it won't make any difference.

Disagree. Obviously an internship will make a big difference to an application especially if it is in the division you are applying for.

To say "some form of work experience" impliesa person working part time in retail will have the same chance as somebody who has completed an internship at a BB.

Reply 6

Jaldune

Original post by The_Don_123

Disagree. Obviously an internship will make a big difference to an application especially if it is in the division you are applying for.

To say "some form of work experience" impliesa person working part time in retail will have the same chance as somebody who has completed an internship at a BB.

I would agree with that last sentence. Retail working teaches a lot of transferable skills. Everyone knows internships are long interviews so they don't prepare you properly for a grad job, nor does a job in Tesco.

From what i've seen, internships are valuable within the same bank, but going say from an internship at goldman to get a job at MS - not very useful.

Example: I do a trading intern at goldman, no offer. I apply to MS trading grad.

MS: "Oh, you did an internship at goldman, why didn't they hire you?" Banks don't want others' cast-offs. - making internship's without an offer very weak indeed.

Reply 7

ChevalBlanc

Original post by Jaldune

I would agree with that last sentence. Retail working teaches a lot of transferable skills. Everyone knows internships are long interviews so they don't prepare you properly for a grad job, nor does a job in Tesco.

From what i've seen, internships are valuable within the same bank, but going say from an internship at goldman to get a job at MS - not very useful.

Example: I do a trading intern at goldman, no offer. I apply to MS trading grad.

MS: "Oh, you did an internship at goldman, why didn't they hire you?" Banks don't want others' cast-offs. - making internship's without an offer very weak indeed.

Eh, I don't think that was the point he was trying to make. Your theory is off in so many ways, I don't know where to begin. Bottom line: an internship at ANY IB will be highly beneficial when applying for a grad scheme at ANY OTHER IB. Work experience in retail isn't even comparable.

Reply 8

pedantic

3

Original post by Jaldune

I would agree with that last sentence. Retail working teaches a lot of transferable skills. Everyone knows internships are long interviews so they don't prepare you properly for a grad job, nor does a job in Tesco.

From what i've seen, internships are valuable within the same bank, but going say from an internship at goldman to get a job at MS - not very useful.

Example: I do a trading intern at goldman, no offer. I apply to MS trading grad.

MS: "Oh, you did an internship at goldman, why didn't they hire you?" Banks don't want others' cast-offs. - making internship's without an offer very weak indeed.

As opposed to being asked: "Why have you not completed a relevant internship, if you are so ambitious about a career in banking?"

As long as you can come up with a good reason for why you didn't convert the internship, you are always better off with some relevant work experience than none. If only to get in front of an interviewer to be asked that question.

Reply 9

Jaldune

If you think so, do an internship. My case is basically that Me with an internship vs Me without an internship will have a very similar chance of getting a job. You won't get a job on the back of having an internship - it's not a clincher at all. If you have an internship but you can't speak to people well, then you'll struggle. Hence, why I say the gaining of transferable skills are as, if not more, important.

Reply 10

_CherryBomb_

I would try to get as much relevant work experience on your CV as possible!
I would also do voluntary work and have a part-time job as this will give you skills and experience that you can talk about at interviews.
All of this helped me get the internship I wanted.

Hope that helps :smile:

x

Reply 11

babafagucci

3

Original post by Jaldune

Banks don't want others' cast-offs. - making internship's without an offer very weak indeed.

You're very wrong, and a lot of your other advice ain't too helpful at all.

To the OP, try having a scan through all the bank's websites again, see if there are any last minute internships still available. Failing that, try looking up recruitment agencies which specialise in financial placements. Also try looking at consultancy/accountancy/asset management companies.

(edited 12 years ago)

Reply 12

Jaldune

Original post by babafagucci

You're very wrong, and a lot of your other advice ain't too helpful at all.

To the OP, try having a scan through all the bank's websites again, see if there are any last minute internships still available. Failing that, try looking up recruitment agencies which specialise in financial placements. Also try looking at consultancy/accountancy/asset management companies.

Hey, I'm not saying don't do internships at all. You should do them if you have the chance. They will show you what the job's like, and whether you want to do it. It should also be quite interesting. I do, however, strongly believe that it's not the make or break of getting a job, and therefore to the OP not to get too worked up about it, enjoy the last long summer you have and get ready for your grad applications.

Reply 13

Zweihander

3

Original post by Jaldune

I would agree with that last sentence. Retail working teaches a lot of transferable skills. Everyone knows internships are long interviews so they don't prepare you properly for a grad job, nor does a job in Tesco.

From what i've seen, internships are valuable within the same bank, but going say from an internship at goldman to get a job at MS - not very useful.

Example: I do a trading intern at goldman, no offer. I apply to MS trading grad.

MS: "Oh, you did an internship at goldman, why didn't they hire you?" Banks don't want others' cast-offs. - making internship's without an offer very weak indeed.

lolz what the f*** are you smoking? Loads of interns lateral to other banks.

To the OP would say just try to find relevant work experience as possible to what you want to do, so that might mean applying for vacancies online; leveraging contacts; cold calling/emailing etc

(edited 12 years ago)

Reply 14

5timelucky

Doing an internship will demonstrate to other banks that your application has already been screened and approved by one anal recruitment team. In the event you do not secure your full time offer with that bank, it acts as a useful signalling tool during the grad application process. Explaining why you did not get a FT offer is up to you, but the internship (provided it is relevant) should, more likely than not, ensure you get the chance to make this explanation in person.

The fixation on internships at some firms is quite bizarre, in my experience none more so than at BarCap, where it is seemingly impossible to demonstrate a true passion for the role if you weren't bothered to or were unable to complete an internship or some form of formal work experience in the sector prior to applying as a grad.

However, this does not mean that not doing an internship means that your chances are completely destroyed, you may just have to wait a while longer. Perhaps be prepared to do an internship after your final year, my advice to the OP is to mix grad apps with apps for internships, so that you are not sorely disappointed in Jan when you have received ~14 rejections for grad applications. Alternatively, disregard my advice and apply to all grad applications if you think your app is able to compete with those who do not get FT offers but did an internship and all the other similar applications in the pile.

No internship after 2nd year

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