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First from oxford, no experience... a problem?

I'm a 4th year science student at Oxford on track for a first, and I'd like to get a job/grad program in investment banking next year. Academically, my CV is glowing- I've done well in my degree thus far, and got straight As in all my school exams. However, I'm worried that experience-wise, my CV is rather lacking, because I haven't done any internships.

I hasten to add that my academic success and lack of internships is not because I've spent the past 3 years in the library! Playing in a band, having a long-term girlfriend and rowing have occupied my time, and I think could sit well on a CV beside good academic results to demonstrate I'm capable of human communication and am not a library gremlin. Will my lack of experience hurt my badly, or will my otherwise good results let me in with a chance?

Reply 1

Donald Duck

15

Tbh, I'd find it hard to believe that you wouldn't find a job. Youre from Oxford on a scientific study which requires analytical thinking and being good with numbers. My dad is always looking for that sort of people, and he is in the financial area. However, it is a Dutch company, so you would have to speak dutch to start off there. Anyways, good luck

Reply 2

rob325114

If you consider that most of the candidates that have completed an internship will have already been offered a place, your fiercest competition is already employed.

Of course your lack of experience in finance will not help your application, but I don't think it will hinder it. Your at a top 3 uni for IB recruitment, with the usual grades for an Oxbridge applicant, couple that with the fact that applicants for graduate positions usually don't have internship experience... and you can quickly see that getting an FO IB job certainly isn't out of your reach.

Reply 3

Rouge Trader

I was at Goldman Sachs in the week and they said that 60% of people enroled on the grad schemes had done an internship. But that still leaves 40% and you are in a good position. But why is it you are interested in IB? The fact that you have not done an internship might mean that your motives are questioned, and they tend not to like people who are in it for the cash. However you may have very different motives. It's just a Thought.

Reply 4

Wstroud

1

I'm not sure - having a degree from oxbridge, although an advantage, is not an open door to go picking and choosing between banks - that said if you apply like everyone else, then you should get interviews. If you can answer the questions on why you didn't do an internship and why you want to work there, then you should get an offer from somewhere.

Reply 5

Brown Patrick Bateman

10

Rouge Trader

I was at Goldman Sachs in the week and they said that 60% of people enroled on the grad schemes had done an internship. But that still leaves 40% and you are in a good position.

Must mean 60% had done an internship at GS? Practically everyone (95%+) on a BB grad scheme has done a standard summer internship at a bank.

boxface, apply to Lazard..quite a few there have little/no banking experience but an Oxbridge degree. Or you may be better off applying for internships now (at places which aren't anal on you being a penultimate year student), having a gap year and getting a grad job starting 09.

Reply 6

gooseymcgoose

11

Someone told me that Citi IBD was full on interns who had accepted their grad offers alone this year?

Reply 7

AR1

Rouge Trader

I was at Goldman Sachs in the week and they said that 60% of people enroled on the grad schemes had done an internship. But that still leaves 40% and you are in a good position. But why is it you are interested in IB? The fact that you have not done an internship might mean that your motives are questioned, and they tend not to like people who are in it for the cash. However you may have very different motives. It's just a Thought.

I think what he/she meant is that 60% of the summer intern class enrolled on the grad scheme. It doesn't necessarily mean 40% of the grad class is still open.

I imagine places like GS and MS fill up most of their grad positions from their own summer interns, whether they take 60% of their intern class or not.

Reply 8

turbodave

4

On a slight change of subject, how will my application be perceived? I have done 2 internships within management consultancy, have geared my career towards consulting and have demonstrated no prior interest in banking. The truth is that I'm applying more out of curiousity than drive to be a banker - will hr immediately pick up on this?

Reply 9

boxface

OP

Hmm, so some fairly mixed responses then. I'm going to go for it and apply to lots of them, hopefully some will want me! Cheers guys.

Reply 10

fredstar

I definitely recommend going for an internship rather than a graduate job, I guarantee your success rate will much higher. Things are pretty bad right now and all the BB banks are being careful how they recruit, they are hardly recruiting anyone who wasn't on their summer intern scheme and those who weren't interned at other top banks. It is not good enough to apply just with Oxford on ur cv.
I am a third year and got on to a week in the summer at a BB, even after that week (after being assessed/3 interviews/group exercise) I had to come back for more interviews for a summer internship place, they weren't even really willing to take me on as a grad. I have good experience at Deloitte/BDO SH etc in Management consultancy etc, good ec's and study Economics at Notts...albeit not in the same class as Oxbridge not too shabby either.
Anyway, I recommend you apply for summer internships..but you never know you may get lucky and end up on a grad scheme at a boutique.

Reply 11

mayavara

Fredstar's right. Mate you have next to no chance whatsoever of getting a grad job now without an internship. a) It's pretty late in the day now, most grad positions have been filled up by i) people who interned there ii) people who interned at other banks and got fast-tracked, b) there's more competent people who've done internships around for the remaining places so what chance do you have?

Reply 12

kahler_potential

11

Hmmm... there's always a couple of people with no internship at all in every grad class. It does happen, but I think you need to work very very hard to get your foot in the door.

Reply 13

La Haine

2

So is a 'long term girlfriend' something I should think about placing on my CV?

Reply 14

jawa

La Haine - Saïd

So is a 'long term girlfriend' something I should think about placing on my CV?

of course you should.

A long term relationship shows that you are steady and committed. It is also a great sign of being able to take responsibility.

Reply 15

mayavara

jawa

of course you should.

A long term relationship shows that you are steady and committed. It is also a great sign of being able to take responsibility.

I really, really hope that was a joke.

Reply 16

La Haine

2

I see a distinct and alarming lack of sarcasm in that post. If indeed I have missed it then kudos for the disguise.

Reply 17

DoubleThePrice

7

You get even more HR kudos if you put long time boyfriend (if you're male)

Reply 18

mayavara

Long term girlfriend... on the plus side it should mean you're secure and content, not sexually frustrated, won't be moaning you can't get laid and stuff. On the downside it'll mean you're maybe less mobile - less likely to do a 6mth, 1yr placement in an international office if required. Anyway love/sexlife and CVs obviously a big no-no.. zero correlation with that and how good you are at work - plenty of MDs nobbing their secretary behind the wife's back and all...

Reply 19

jawa

mayavara

plenty of MDs nobbing their secretary behind the wife's back and all...

but then again, maybe that is the exact reason why they are so good at their work.

anyway, I think if the guy has not done any sort of internship, then putting in a line saying he is under a serious relationship is not going to hurt his CV, if not benefit it.

First from oxford, no experience... a problem?

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