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What is the best way to get a good summer investment banking or finance internship?

I've seen posters on here with all sorts of degrees getting high paying internships, say you are in the first year of Uni what is the best way of going about landing one?

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Reply 1
“There comes a time when you ought to start doing what you want. Take a job that you love. You will jump out of bed in the morning. I think you are out of your mind if you keep taking jobs that you don't like because you think it will look good on your resume. Isn't that a little like saving up sex for your old age?”
Warren Buffett
Original post by adsads
“There comes a time when you ought to start doing what you want. Take a job that you love. You will jump out of bed in the morning. I think you are out of your mind if you keep taking jobs that you don't like because you think it will look good on your resume. Isn't that a little like saving up sex for your old age?”
Warren Buffett


Your quote is nice but I was hoping for more practical advice :tongue:
find the spring week 2016 thread on here, start reading every page from the front. has all the info you need.
Well, you apply..
Original post by Princepieman
Well, you apply..


That much I gathered :rofl:

What kind of degree classification, a-levels, university or work experience would boost my chances?
Reply 6
1) Apply early
2) Do well in those SHL tests all these IB places give
3) Go to a top university doing a top degree
4) Show passion for finance
5) Ace the interview


....the internship is yours. Easier said than done.
1. 2:1 or above

2. Generally, the minimum is about AAB/ABB (320-340 UCAS points), but most people will have several A*ss

3. Targets (represent 80% of the UK interns/hires for FO roles): Oxbridge, LSE, UCL, Warwick, Imperial
Semi-targets (represent 15-16%): Bristol, Durham, Nottingham, Bath, KCL, Edinburgh, St Andrews
The rest: other RG unis, Loughborough

4a. Anything you can get before uni... If you can contact some tiny boutique firms to do a little summer gig before uni, that'd be great, otherwise apply to A-level insight schemes and any underrepresented minority/disadvantaged background (read: poor) schemes available.

4b. Do something impactful: volunteering, fundraising, starting a business, running a major event - anything you find interesting that'll make people go wow.

5. Apply to SWs (spring weeks) in your first year (or second year if you're on a four year course); perform well on them, pass the aditional interviews at the end for a conversion to a summer internship (to be undertaken in the summer of your penultimate year), perform well on that and you'll have a grad job offer.

Networking is VERY important, do it. Keep up to date with the commercial world. Learn more about the industry, and specifically WHICH area you'd like to go into.

Peruse these links:
Mergers and Inquisitions, the Unofficial Guide to Banking, TargetCareers - Banking, AllAboutFinanceCareers and the Investment Banking Guide by Vault, Wall Street Oasis - FAQ
Best way is to talk to some of the HR departments at these companies. Give them a call to see if they have any available. Ask your university to help you find positions
Original post by Princepieman
1. 2:1 or above

2. Generally, the minimum is about AAB/ABB (320-340 UCAS points), but most people will have several A*ss

3. Targets (represent 80% of the UK interns/hires for FO roles): Oxbridge, LSE, UCL, Warwick, Imperial
Semi-targets (represent 15-16%): Bristol, Durham, Nottingham, Bath, KCL, Edinburgh, St Andrews
The rest: other RG unis, Loughborough

4a. Anything you can get before uni... If you can contact some tiny boutique firms to do a little summer gig before uni, that'd be great, otherwise apply to A-level insight schemes and any underrepresented minority/disadvantaged background (read: poor) schemes available.

4b. Do something impactful: volunteering, fundraising, starting a business, running a major event - anything you find interesting that'll make people go wow.

5. Apply to SWs (spring weeks) in your first year (or second year if you're on a four year course); perform well on them, pass the aditional interviews at the end for a conversion to a summer internship (to be undertaken in the summer of your penultimate year), perform well on that and you'll have a grad job offer.

Networking is VERY important, do it. Keep up to date with the commercial world. Learn more about the industry, and specifically WHICH area you'd like to go into.

Peruse these links:
Mergers and Inquisitions, the Unofficial Guide to Banking, TargetCareers - Banking, AllAboutFinanceCareers and the Investment Banking Guide by Vault, Wall Street Oasis - FAQ


Aside from the obvious economic/ finance degrees what are the preferred degrees? I'm hoping to study Med Chem but I heard the amount of maths you do in a chemistry degree would help. I'm not smart enough to do maths or physics degree
The degree is irrelevant, notice how I didn't put any 'preferred degree' down. Do something that'll sustain your interest for 3 years.

I think your Med Chem degree will actually come in handy if you wanted to focus on say Healthcare coverage in IBD, or Pharma/Healthcare coverage in Equity Research.

Obviously, you aren't going to get anywhere by applying for quant analyst, exotic derivatives, algo trader roles without a Computer Science, Maths, or a Science degree.

However, for most (the majority of) other things, the level of maths needed is below GCSE. If you can pass the numerical tests that banks set (much like other grad schemes), you'll be fine.
any degree is fine
Original post by Princepieman
The degree is irrelevant, notice how I didn't put any 'preferred degree' down. Do something that'll sustain your interest for 3 years.

I think your Med Chem degree will actually come in handy if you wanted to focus on say Healthcare coverage in IBD, or Pharma/Healthcare coverage in Equity Research.

Obviously, you aren't going to get anywhere by applying for quant analyst, exotic derivatives, algo trader roles without a Computer Science, Maths, or a Science degree.

However, for most (the majority of) other things, the level of maths needed is below GCSE. If you can pass the numerical tests that banks set (much like other grad schemes), you'll be fine.


PRSOM

You have been awesome :smile:

Thanks a lot :smile:
Original post by marco14196
Best way is to talk to some of the HR departments at these companies. Give them a call to see if they have any available. Ask your university to help you find positions


Ffs, stop advising on stuff you know nothing about.

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Reply 14
Sorry to interfere; is there anything I can do as a current year 13 to improve future prospects of securing internships, SW's etc
Original post by Zer0.
Sorry to interfere; is there anything I can do as a current year 13 to improve future prospects of securing internships, SW's etc


Bruh. Read the thread.

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Reply 16
Original post by Princepieman
Bruh. Read the thread.

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Oh ****. My bad bro, I skimmed over the bit about pre-uni :tongue:
Original post by Zer0.
Oh ****. My bad bro, I skimmed over the bit about pre-uni :tongue:


No probs man, I just cba writing it out again haha

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Original post by Zer0.
Oh ****. My bad bro, I skimmed over the bit about pre-uni :tongue:


Also go here: Student Ladder
(edited 8 years ago)
Original post by marco14196
havent you got something better to do you sad IB troll. Go bavk to your cave you havk and stare at your fantasy rainbow. How is this bad advice? This is what people do when they look for summer schemes or programs, its general advice. Someone needs to take that spike out of your anus because its causing garbage to be expelled from your mouth


It's bad advice because 'contacting HR' ain't gonna do squat, unless, you want some ad-hoc/unpaid internship somewhere. The information is there, you go online and apply. Using your method would waste a boatload of time.

Anyway, I don't really give two craps. I'm on a gap year atm, so I can spend my time however I wish - it certainly won't be 'in a cave' as you've so beautifully made out.

Lovely imagery in your last sentence bro, you should be a script writer.

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