*Official Investment Banking and Advisory 2021 Internship Thread*

Watch
Johnny97
Badges: 3
Rep:
?
#61
Report 1 month ago
#61
Is GS really starting to review that late?
0
reply
GraftTime
Badges: 10
Rep:
?
#62
Report 1 month ago
#62
How are people who haven’t got there A level grades/ uni confirmed place signing up for Goldman ?
0
reply
goatiee
Badges: 12
Rep:
?
#63
Report 1 month ago
#63
(Original post by GraftTime)
How are people who haven’t got there A level grades/ uni confirmed place signing up for Goldman ?
it's for people in their penultimate year of university, not people who have just finished school.
1
reply
caprabianca
Badges: 1
Rep:
?
#64
Report 1 month ago
#64
Do you think it makes sense to apply in Paris rather than London to have better chances? (EU, non-French student)
What language level do they require?
0
reply
jsb00
Badges: 12
Rep:
?
#65
Report 1 month ago
#65
(Original post by caprabianca)
Do you think it makes sense to apply in Paris rather than London to have better chances? (EU, non-French student)
What language level do they require?
I had a look at some places in France but they require business proficiency in French
London or Dublin is your best option
Atm even the US system is difficult because the Trump administration isn't giving our any green cards for students work visas
0
reply
Trapz99
Badges: 21
Rep:
?
#66
Report 1 month ago
#66
Anyone else here in their final year? I’m kinda ****ed tbh since I didn’t get anything for this summer, but I’ll give it another shot. Just wondering whether you guys are planning on doing a masters (if you’re in your final year) because it seems most banks only want penultimates...
1
reply
She's
Badges: 8
Rep:
?
#67
Report 1 month ago
#67
(Original post by DetectivePeralta)
Anyone else here in their final year? I’m kinda ****ed tbh since I didn’t get anything for this summer, but I’ll give it another shot. Just wondering whether you guys are planning on doing a masters (if you’re in your final year) because it seems most banks only want penultimates...
Tbh I get the opposite vibe. Seems like more and more kids who get in are doing an MSc (or at least claiming to) and the ones who aren’t are acc 2nd year students on a 3yr course.

Would it matter if you just claimed to have one yr left when actually you’re doing a MSc? I’ve heard of a lot of people doing this and just convincing the team to hire them straight after the internship
0
reply
Truflag
Badges: 5
Rep:
?
#68
Report 1 month ago
#68
(Original post by She's)
Tbh I get the opposite vibe. Seems like more and more kids who get in are doing an MSc (or at least claiming to) and the ones who aren’t are acc 2nd year students on a 3yr course.

Would it matter if you just claimed to have one yr left when actually you’re doing a MSc? I’ve heard of a lot of people doing this and just convincing the team to hire them straight after the internship
Literally never heard of this happening, given the importance of integrity in financial services it's really hard to conceptualise a universe where a candidate publicly commits fraud in their application and everyone at the bank (HR, Compliance, etc) is totally cool with it.
Lots of people say on forums "I am going to claim that I am doing a masters and apply anyway" , they have no chance of being hired FT.
There are lots of tricks for gaming the system that work, this isn't one of them.
I am sure you mean well but you are inadvertently sharing inaccurate advice that if people follow could ruin their professional life. If you are in your final year and haven't bagged a SA at a bank here is what you need to do.
1. Apply for FT anyway.
2. Network via LinkedIn targeting the boutique banks that don't have formal grad programs (there are about 30/40 of them in London) and try and get your CV in front of someone.
3. Apply to the big 4 grad schemes and try to convert to IB after you become chartered accountant.
4. Apply to a finance masters program at a target university (must be target) and apply for summer internships 2021.
5. Apply for off cycle internships at banks at the end of your degree.
6. Apply for graduate programs at the specialist financial valuation firms and try to switch over into a small bank once you are a modeling ninja.
What you must not do is
1. Commit fraud on your application by claiming to be applying for a masters program when you aren't. You will be busted you won't get an offer.
2. Apply for a back office or middle office role and hope you will be the unicorn who converts to front office, you won't.
Good luck to everyone who didn't get a SA and is still determined to make it in IB.
Last edited by Truflag; 1 month ago
2
reply
h3110
Badges: 16
Rep:
?
#69
Report 1 month ago
#69
(Original post by Truflag)
Literally never heard of this happening, given the importance of integrity in financial services it's really hard to conceptualise a universe where a candidate publicly commits fraud in their application and everyone at the bank (HR, Compliance, etc) is totally cool with it.
Lots of people say on forums "I am going to claim that I am doing a masters and apply anyway" , they have no chance of being hired FT.
There are lots of tricks for gaming the system that work, this isn't one of them.
I am sure you mean well but you are inadvertently sharing inaccurate advice that if people follow could ruin their professional life. If you are in your final year and haven't bagged a SA at a bank here is what you need to do.
1. Apply for FT anyway.
2. Network via LinkedIn targeting the boutique banks that don't have formal grad programs (there are about 30/40 of them in London) and try and get your CV in front of someone.
3. Apply to the big 4 grad schemes and try to convert to IB after you become chartered accountant.
4. Apply to a finance masters program at a target university (must be target) and apply for summer internships 2021.
5. Apply for off cycle internships at banks at the end of your degree.
6. Apply for graduate programs at the specialist financial valuation firms and try to switch over into a small bank once you are a modeling ninja.
What you must not do is
1. Commit fraud on your application by claiming to be applying for a masters program when you aren't. You will be busted you won't get an offer.
2. Apply for a back office or middle office role and hope you will be the unicorn who converts to front office, you won't.
Good luck to everyone who didn't get a SA and is still determined to make it in IB.
Lmao, saying you plan to do a masters on your CV then changing your mind is not fraud
Grow up
1
reply
Truflag
Badges: 5
Rep:
?
#70
Report 1 month ago
#70
(Original post by h3110)
Lmao, saying you plan to do a masters on your CV then changing your mind is not fraud
Grow up
You're are missing the point entirely I am not saying you will face prosecution under the 2006 Fraud Act. I am saying you will not be able to convert SA 2021 into FT 2021 by claiming you applied for a masters but changed you mind. But if you think differently then go for it.
Last edited by Truflag; 1 month ago
0
reply
h3110
Badges: 16
Rep:
?
#71
Report 1 month ago
#71
(Original post by Truflag)
You're are missing the point entirely I am not saying you will face prosecution under the 2006 Fraud Act. I am saying you will not be able to convert SA 2021 into FT 2021 by claiming you applied for a masters but changed you mind. But if you think differently then go for it.
So what happens if someone applies for internships and masters programmes, gets an internship but gets rejected from all the masters they applied to? Have they now committed fraud in your opinion?
0
reply
Truflag
Badges: 5
Rep:
?
#72
Report 1 month ago
#72
(Original post by h3110)
So what happens if someone applies for internships and masters programmes, gets an internship but gets rejected from all the masters they applied to? Have they now committed fraud in your opinion?
This is where you are going wrong you are trying to debate reality with a stranger on the Internet instead of doing serious first hand research. If you want to know what a bank would do if you failed to get on a masters then email the hr department of a bank and they will tell.
But here is what I do know FT 2021 and FT 2022 are two separate recruitment streams. The FT 2021 recruitment will be completely finished before you start SA 2021, if the banks decide they need more analysts in Autumn 2021 they don't reopen FT 2021 they fill the gaps with off cycle internship recruitment.
What I would do if I found myself in the situation you described is speak to the bank straight away with a well crafted story as to why I had been rejected from every masters program that I applied for(nobody applies for just one) and beg them to switch my application from SA 2021 to FT 2021 or OC2021. I wouldn't wait until the internship started before announcing it because that is just asking to be walked off the site.
Again nobody converts SA 2021 to FT 2021 it's an Internet myth but don't take my word for it do some independent research.
Last edited by Truflag; 1 month ago
0
reply
Jono0812
Badges: 11
Rep:
?
#73
Report 1 month ago
#73
JPM supposedly opens on the 17th according to EMEA campus recruiter via LinkedIn post
0
reply
Econappl2019
Badges: 10
Rep:
?
#74
Report 1 month ago
#74
(Original post by Truflag)
Literally never heard of this happening, given the importance of integrity in financial services it's really hard to conceptualise a universe where a candidate publicly commits fraud in their application and everyone at the bank (HR, Compliance, etc) is totally cool with it.
Lots of people say on forums "I am going to claim that I am doing a masters and apply anyway" , they have no chance of being hired FT.
There are lots of tricks for gaming the system that work, this isn't one of them.
I am sure you mean well but you are inadvertently sharing inaccurate advice that if people follow could ruin their professional life. If you are in your final year and haven't bagged a SA at a bank here is what you need to do.
1. Apply for FT anyway.
2. Network via LinkedIn targeting the boutique banks that don't have formal grad programs (there are about 30/40 of them in London) and try and get your CV in front of someone.
3. Apply to the big 4 grad schemes and try to convert to IB after you become chartered accountant.
4. Apply to a finance masters program at a target university (must be target) and apply for summer internships 2021.
5. Apply for off cycle internships at banks at the end of your degree.
6. Apply for graduate programs at the specialist financial valuation firms and try to switch over into a small bank once you are a modeling ninja.
What you must not do is
1. Commit fraud on your application by claiming to be applying for a masters program when you aren't. You will be busted you won't get an offer.
2. Apply for a back office or middle office role and hope you will be the unicorn who converts to front office, you won't.
Good luck to everyone who didn't get a SA and is still determined to make it in IB.
Ridiculous post. And for the record, I know someone who did just this. They're now GS/MS/JPM M&A. They joined FT a year after doing SA (post 3rd year) without doing the masters.
Last edited by Econappl2019; 1 month ago
2
reply
Truflag
Badges: 5
Rep:
?
#75
Report 1 month ago
#75
(Original post by Econappl2019)
Ridiculous post. And for the record, I know someone who did just this. They're now GS/MS/JPM M&A. They joined FT a year after doing SA (post 3rd year) without doing the masters.
You misread my post I am not saying you can't do SA post 3rd year or that you won't pick up full time in the following cycle i.e. SA 2021 to FT 2022. What I said was
1.That faking a masters application is stupid(I have heard two bank recruiters at on campus events say don't do this we know all about this scam)
2. That you won't go from SA 2021 to FT 2021 because FT 2021 recruitment is finished before SA 2021 has even begun.
3. That if you want FT 2021 then apply for FT 2021 not SA 2021 because if you apply for FT 2021 you get two bites of the cherry FT 2021 and OC 2021.
Also while some banks do recruit up to half of their analyst teams from masters programs (the banks you mentioned plus Citi, CS and BOA are famous for it) other banks hardly give masters applicants a second look. Masters applicants tend to have a very different profile from undergraduate applicants, i.e. European target school, multiple European languages, 2 or possibly 3 excellent finance summer internships ideally with at least one IB summer internship at a small European investment Bank on the continent. The kid from the UK who didn't get a SA last time and now has an empty hole in their CV where that internship should be doesn't really fit the profile.
But again everyone is free to do what they want and believe what they want, so if you think applying for a program that asks for penultimate year students when you are in your final year will work then good luck. IB is a very small world the recruitment teams know the game inside out.
Out of interest your friend who is now top tier M&A, did they lateral into that group from another FT position or was that their first full time position?
Last edited by Truflag; 1 month ago
0
reply
RatedRSuperstar
Badges: 5
Rep:
?
#76
Report 1 month ago
#76
Bump
0
reply
Majorette2018
Badges: 8
Rep:
?
#77
Report 1 month ago
#77
Is there a FT thread as well and does FT recruiting starts earlier than SA?
0
reply
neverstudying
Badges: 11
Rep:
?
#78
Report 1 month ago
#78
(Original post by Truflag)
You misread my post I am not saying you can't do SA post 3rd year or that you won't pick up full time in the following cycle i.e. SA 2021 to FT 2022. What I said was
1.That faking a masters application is stupid(I have heard two bank recruiters at on campus events say don't do this we know all about this scam)
2. That you won't go from SA 2021 to FT 2021 because FT 2021 recruitment is finished before SA 2021 has even begun.
3. That if you want FT 2021 then apply for FT 2021 not SA 2021 because if you apply for FT 2021 you get two bites of the cherry FT 2021 and OC 2021.
Also while some banks do recruit up to half of their analyst teams from masters programs (the banks you mentioned plus Citi, CS and BOA are famous for it) other banks hardly give masters applicants a second look. Masters applicants tend to have a very different profile from undergraduate applicants, i.e. European target school, multiple European languages, 2 or possibly 3 excellent finance summer internships ideally with at least one IB summer internship at a small European investment Bank on the continent. The kid from the UK who didn't get a SA last time and now has an empty hole in their CV where that internship should be doesn't really fit the profile.
But again everyone is free to do what they want and believe what they want, so if you think applying for a program that asks for penultimate year students when you are in your final year will work then good luck. IB is a very small world the recruitment teams know the game inside out.
Out of interest your friend who is now top tier M&A, did they lateral into that group from another FT position or was that their first full time position?
FT recruitment starts in July/August earliest. SA starts late June/early July. They are separate pipelines you are correct but it is possible to go straight into FT from doing SA as many banks don't have start dates that overlap, I know many people who had their FT start dates in January to allow for it.

You correct about lying about masters etc though, generally you can't lie about a masters as you have to place a deposit for the course (which will be several thousand). However, I also have heard stories of those lying about a masters so they could be in 'penultimate' year and they were rejected on the basis when they found out he was not actually a penultimate year student.

In conclusion, it is highly dependent on the bank's timeline and recruitment requirements
0
reply
fgur987
Badges: 8
Rep:
?
#79
Report 1 month ago
#79
Hello Guys,

Im going to CASS for Investment and financial risk management. I know it is a semi target but my A-level results are BBB. Will this mean investment firms will not even consider my application due to the low A-level grade. Will it be hard to get an internship?
0
reply
thatapanydude
Badges: 14
Rep:
?
#80
Report 1 month ago
#80
(Original post by fgur987)
Hello Guys,

Im going to CASS for Investment and financial risk management. I know it is a semi target but my A-level results are BBB. Will this mean investment firms will not even consider my application due to the low A-level grade. Will it be hard to get an internship?
might be an issue with some banks. Rothschild is AAB, Lazard is ABB. Though I know someone personally who got BNP Spring Week with BBC so not impossible but speaking honestly its a tough road.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

How are you feeling ahead of starting University?

I am excited and looking forward to starting (58)
13.91%
I am excited but have some apprehension around Covid-19 measures (55)
13.19%
I am concerned I will miss out on aspects of the uni experience due to new measures (158)
37.89%
I am concerned the Covid-19 measures at uni are not strong enough (44)
10.55%
I am nervous and feel I don't have enough information (80)
19.18%
Something else (let us know in the thread!) (22)
5.28%

Watched Threads

View All