fireflick
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Hi there, I am asking this question in the context of the UK Uni system. Since we only have 3 years, we will be applying for our penultimate internship in the Summer of Year 1 (Unlike US, where undergrads apply in Year 2 Summer) Thus I would like to ask how important a Summer Internship in Year 1 is for a UK student. Given that we only have this oppurtunity to prove ourselves before our penultimate.
I would also like to ask if the types of internships matter. If I am unable to get any IB/AM FO Roles will an internship in a BO/MO role diminish my chances for FO in the future. Thanks everyone for your help.
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username738914
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(Original post by fireflick)
Hi there, I am asking this question in the context of the UK Uni system. Since we only have 3 years, we will be applying for our penultimate internship in the Summer of Year 1 (Unlike US, where undergrads apply in Year 2 Summer) Thus I would like to ask how important a Summer Internship in Year 1 is for a UK student. Given that we only have this oppurtunity to prove ourselves before our penultimate.
I would also like to ask if the types of internships matter. If I am unable to get any IB/AM FO Roles will an internship in a BO/MO role diminish my chances for FO in the future. Thanks everyone for your help.
Not that important (since we have much more of a focus on formal spring weeks and insight programs) but wouldn't hurt to land something through cold-calling small firms, parents/friends, seeking startup jobs etc

Most important phase of your uni career is really the autumn of your penultimate year.. Landing a solid internship during that recruiting season will set you up whether you convert or choose to go for more grad recruiting friendly roles like consulting, audit or general grad schemes.

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DrSocSciences
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(Original post by fireflick)
Hi there, I am asking this question in the context of the UK Uni system. Since we only have 3 years, we will be applying for our penultimate internship in the Summer of Year 1 (Unlike US, where undergrads apply in Year 2 Summer) Thus I would like to ask how important a Summer Internship in Year 1 is for a UK student. Given that we only have this oppurtunity to prove ourselves before our penultimate.
I would also like to ask if the types of internships matter. If I am unable to get any IB/AM FO Roles will an internship in a BO/MO role diminish my chances for FO in the future. Thanks everyone for your help.
I've seen freshers who make Summer internships matter, and follow up with a Y2 internship. Can be done.
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BusMan21
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Some like HSBC, Barclays or BoE offer them, but not in any major IBD roles as far as I’m aware.

But if your heart is set on IBD then Year 1 internships matter very little. A spring week and a couple insight days is the best prep you can do really IMO.
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username738914
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(Original post by BusMan21)
Some like HSBC, Barclays or BoE offer them, but not in any major IBD roles as far as I’m aware.

But if your heart is set on IBD then Year 1 internships matter very little. A spring week and a couple insight days is the best prep you can do really IMO.
Barclays is defo front office afaik. Bit of a mystery in who gets it though..

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BusMan21
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(Original post by Princepieman)
Barclays is defo front office afaik. Bit of a mystery in who gets it though..

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Pretty sure it’s an SEO London only pathway
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fireflick
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Hey guys thanks for your input. I've currently managed to secured a role in a small AM firm (Non-FO). I guess thats the best i can do for now. I didn't manage to secure springs so I guess i will be disadvantaged in that sense.
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BusMan21
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(Original post by fireflick)
Hey guys thanks for your input. I've currently managed to secured a role in a small AM firm (Non-FO). I guess thats the best i can do for now. I didn't manage to secure springs so I guess i will be disadvantaged in that sense.
Not disadvantaged at all. Keeping yourself busy either through a traditional spring week, or even a rare first year internship is more than adequate. I’d find the latter more interesting on a CV as you’ve had to privately organise it, real exposure to work, and not just a glorified week of death by PowerPoint.
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bigw96
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I think that a first-year summer internship is a must if you want to differentiate yourself from the other applicants when it comes to applying for the penultimate year summer internships. I did a summer internship at a small asset management firm in Shanghai during the summer after my first year of uni, and it was very useful for when I came to apply for summer internships at BB investment banks. [Note, at the time of my summer internship in Shanghai I was not fluent in Mandarin, so it can be done!] Another thing to do is go to as many insight days/networking events as you possibly can. Make sure to get to know the HR and have a few contacts in the division you're interested in. This will go down very when it comes to interviews. Result: I got a summer internship at a major BB in Hong Kong and following that received a full time offer which I will be starting shortly. I honestly fail to understand why people from the UK tend to only focus on applying to banks/financial services firms in London. Both the net pay and quality of life in places like Hong Kong/Singapore/Dubai are far superior.
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fireflick
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(Original post by bigw96)
I think that a first-year summer internship is a must if you want to differentiate yourself from the other applicants when it comes to applying for the penultimate year summer internships. I did a summer internship at a small asset management firm in Shanghai during the summer after my first year of uni, and it was very useful for when I came to apply for summer internships at BB investment banks. [Note, at the time of my summer internship in Shanghai I was not fluent in Mandarin, so it can be done!] Another thing to do is go to as many insight days/networking events as you possibly can. Make sure to get to know the HR and have a few contacts in the division you're interested in. This will go down very when it comes to interviews. Result: I got a summer internship at a major BB in Hong Kong and following that received a full time offer which I will be starting shortly. I honestly fail to understand why people from the UK tend to only focus on applying to banks/financial services firms in London. Both the net pay and quality of life in places like Hong Kong/Singapore/Dubai are far superior.
Hey there, thanks for the extensive reply. I just checked this forum again after a long while. Having missed out on the whole spring week season. I guess this is another avenue to prove myself. Thanks for the advise and congrats for your full time offer!
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BGUK19
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(Original post by fireflick)
Hi there, I am asking this question in the context of the UK Uni system. Since we only have 3 years, we will be applying for our penultimate internship in the Summer of Year 1 (Unlike US, where undergrads apply in Year 2 Summer) Thus I would like to ask how important a Summer Internship in Year 1 is for a UK student. Given that we only have this opportunity to prove ourselves before our penultimate.
I would also like to ask if the types of internships matter. If I am unable to get any IB/AM FO Roles will an internship in a BO/MO role diminish my chances for FO in the future. Thanks everyone for your help.
Personally, I think it depends on what type of university you go to. I go to a non-target in the UK and managed to get myself a 10-week internship in a regional office of an investment management firm. It was that first-year internship which got me my second-year summer role at a boutique IB in London this summer. So, based on that I would say they are important.
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xtrembob
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(Original post by BGUK19)
Personally, I think it depends on what type of university you go to. I go to a non-target in the UK and managed to get myself a 10-week internship in a regional office of an investment management firm. It was that first-year internship which got me my second-year summer role at a boutique IB in London this summer. So, based on that I would say they are important.
Elite boutique or just small boutique?
Got a summer internship in London at a small boutique MM IB as a first year (studying at a target)
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thatapanydude
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Would working at a regional (based in Cambridge) corporate finance boutique (deal sizes less than 10m) significantly help my application for summers or should I still look at trying to find firms in London with a bigger name?
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username738914
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(Original post by thatapanydude)
Would working at a regional (based in Cambridge) corporate finance boutique (deal sizes less than 10m) significantly help my application for summers or should I still look at trying to find firms in London with a bigger name?
Sounds like a business broker/flipper if the deal sizes are sub £10m. Experience is experience though.

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makrxx
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(Original post by thatapanydude)
Would working at a regional (based in Cambridge) corporate finance boutique (deal sizes less than 10m) significantly help my application for summers or should I still look at trying to find firms in London with a bigger name?
Do you have other options/offers? If not, do it. It's how you sell yourself on your CV and in interviews that matters anyway.
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thatapanydude
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(Original post by Princepieman)
Experience is experience though.

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I think this is true but can't help thinking that lots of applicants will have more prestigious summers, anyway it's better than nothing!
(Original post by makrxx)
Do you have other options/offers? If not, do it. It's how you sell yourself on your CV and in interviews that matters anyway.
Still waiting on a p.e firm and corporate finance boutique (sub 50m) in London but I can't wait too long as I don't want to keep people waiting! I'll do it if nothing else pops up as I'm sure the skills you learn are very similar across the board whether you're at the bb or a regional, its still M&A.
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Rohan77642
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what is the best piece of advice someone would give to a first-year student to land an internship during the summer between their first year and second year of university? For the sake of this question, let's assume the student in question studies a quantitative subject (maths lets say) at a target.
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makrxx
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(Original post by Rohan77642)
what is the best piece of advice someone would give to a first-year student to land an internship during the summer between their first year and second year of university? For the sake of this question, let's assume the student in question studies a quantitative subject (maths lets say) at a target.
Hustle hard. As mentioned in this thread, not many places offer a programme for 1st years. So either apply those and hope to get it, or cold email/network your way into the smaller boutiques. I cold emailed 50+ firms but diddn't land anything previously.

Saw someone doing a 1st year summer at BDA Partners. Heard it's a very decent firm so maybe you can check that out. BNY Mellon also comes to mind but they don't do IBD, but have spots in S&T/IM for FO roles.
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Rohan77642
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(Original post by makrxx)
Hustle hard. As mentioned in this thread, not many places offer a programme for 1st years. So either apply those and hope to get it, or cold email/network your way into the smaller boutiques. I cold emailed 50+ firms but diddn't land anything previously.

Saw someone doing a 1st year summer at BDA Partners. Heard it's a very decent firm so maybe you can check that out. BNY Mellon also comes to mind but they don't do IBD, but have spots in S&T/IM for FO roles.
Are there any particular activities that a first year can get involved in, to send a strong application?
Ofcourse the obvious stuff like attending careers fairs and be active in finance societies and stuff like that helps, but everyone does that. What would you say is something that really helps distinguish yourself from the crowd. Cause lets be honest, trying to land an internship in a good firm when you are in your first year is hustling hard for extremely few places because as you said, most firms don't offer them.

Sorry for pestering you with questions, . Just wanted some advice.
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xtrembob
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(Original post by Rohan77642)
what is the best piece of advice someone would give to a first-year student to land an internship during the summer between their first year and second year of university? For the sake of this question, let's assume the student in question studies a quantitative subject (maths lets say) at a target.
First year student at a target, sent my CV/CL and sometimes an investment pitch when relevant to ~200 places (small IB boutiques, AM, VCs, PEs...), got 5 interviews, and 3 offers. I will be in LMM M&A this summer.
Hustle hard, network as much as you can, show interest+knowledge and you can get something (one of my phone calls turned into an offer, they were supposed to do a proper interview afterwards, they said they felt impressed).

(Original post by makrxx)
Hustle hard. As mentioned in this thread, not many places offer a programme for 1st years. So either apply those and hope to get it, or cold email/network your way into the smaller boutiques. I cold emailed 50+ firms but diddn't land anything previously.

Saw someone doing a 1st year summer at BDA Partners. Heard it's a very decent firm so maybe you can check that out.
This person speaks asian languages + got this through a connection (2nd hand source)
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