Ready to break into investment banking? If you’re a finance major aiming for that golden IB internship, it’s time to gear up and get strategic.
Here’s the deal: top banks are scouting talent earlier than ever. We’re talking summer internship applications for 2025 opening up in 2023! Crazy, right? But that’s the pace of IB recruiting now. You’ve got to be quick, smart, and two steps ahead.
Freshman Year Hustle:
- Major/minor in finance? Great. But also consider throwing in some math, engineering, or anything that beefs up your analytical skills.
- Pick your courses wisely. Balance is key. Get those easy A’s early on to pad your GPA, because let’s face it, GPA matters. Banks like to see GPAs of 3.7+.
- Join finance-focused clubs or groups on campus. These are gold mines for networking and learning the ropes from seniors.
- The internship hunt starts NOW. Aim for anything in finance – boutique banks, local PE firms, corporate finance roles, you name it. It’s all about getting that finance experience on your resume.
Sophomore Summer:
- Just wrapped up your first finance gig? Sweet. Now, dive into the tech side of things. Learn the nuts and bolts of accounting, valuation, and the basics of M&A and LBOs.
- Keep networking. And start early. Chat with alumni, attend finance events, and yes, those coffee chats count!
Sophomore Year Strategy:
- Keep the networking game strong. It’s all about who you know, and more importantly, who knows you.
- Watch for those internship application openings like a hawk. When they drop, be the first to apply.
- Pick your next internship target. Big names are great, but relevant experience is even better.
Junior Year Focus:
- Still hunting for that perfect internship? Keep at it. Smaller firms might be your ticket in.
- If you’ve not locked down something by early junior year, it’s time for some serious strategizing. The big banks might be out, but there are still ways to make your mark.
If You’re Late to the Party:
- Missed the boat on early internships? No sweat. There are backdoors into IB. Think corporate finance, corporate banking, or smaller boutique banks.
- Got a totally different background? Pivot time. Consider a Master’s in Finance or an MBA down the line to switch tracks.
For the MBA Crowd:
- If you’re hitting up B-school, the IB recruitment vibe is a bit more chill. But don’t slack. Network and prep for those interviews.
Global Perspective:
- Not in the U.S.? Recruitment timelines vary globally, but the trend is towards earlier starts. So, stay informed and proactive.
Avoid These Traps:
- Jumping to a fancier school might backfire. Networking and fitting in take time.
- Don’t load up on tough courses early on. Protect that GPA!
- Networking isn’t something you can cram. Start early, or you might miss out.
- Clubs and leadership are cool, but internships are your ticket to the IB world.
So there you have it, finance majors. Your roadmap to breaking into investment banking. Stay sharp, stay hungry, and let’s get those internships! 🚀💼📈
How Can Prospect Rock Partners Help?
As a parent, your role in guiding your student towards their future is crucial. Your aim is to help them approach their future with enthusiasm, self-assurance, and a positive outlook. One key way to ensure their success is by helping them gain clear career direction.
DO YOU OR YOUR CHILD FEEL UNCERTAIN ABOUT THEIR FUTURE?
The abundance of choices, intense competition, and the daunting task of finding the right career path can easily overwhelm students.
This stress can often lead to hasty and ill-suited decisions, resulting in a waste of time, money, and effort. Alarmingly, statistics show that one in every three high school students ends up choosing a college major that doesn’t align well with their interests and abilities.
IS YOUR STUDENT EXPERIENCING ANY OF THE FOLLOWING?
- Feeling pressured to decide on a college or major?
- Constantly comparing themselves to peers who seem to have their futures figured out?
- Doubting their chosen major?
- Having trouble pinpointing a clear direction for their future?
- Anxious about starting their career after college?
Schedule a 15-minute chat with Andrea or Meridith to learn more about our affordable one-on-one career counseling services for students who need a little extra help.
Andrea Benson, Managing Director
Andrea Benson is a Managing Director at Prospect Rock Partners. Prior to joining, Andrea spent 13 years at Bank of America across the IBD (M&A), HR (Campus Recruiting) and Tech (CIO) divisions respectively. Most recently, Andrea was the Global Head of Campus Recruiting and Operations at Morgan Stanley. She holds extensive knowledge of the global recruiting landscape and has a vast network given her tenure in the campus recruiting space. She holds a B.A. from Stonehill College, and lives in New Jersey with her husband and young son.
Meridith Dennes, Managing Partner
Meridith Dennes is a seasoned entrepreneur, financial expert, and visionary leader, renowned for her contributions to the world of finance and business. As the Founder and Managing Partner of Prospect Rock Partners, she has demonstrated an exceptional ability to navigate the complexities of the financial industry, while spearheading innovative strategies to drive growth and success. Prior to her role at Prospect Rock, Meridith served as the Managing Director and Chief Operating Officer at a prestigious global financial search firm, where she honed her expertise in talent acquisition and operational efficiency.
Before venturing into the world of executive recruiting, Meridith made her mark as a Co-Founder and CEO of Project Eve, a groundbreaking platform that empowered women in business and entrepreneurship. Her dedication to fostering diversity and inclusion in the corporate world has been a driving force throughout her career.
Meridith’s journey to success began in investment banking, where she dedicated nearly 15 years to top-tier bulge bracket and global investment banks. Her extensive experience in this demanding field has granted her invaluable insights into the intricacies of finance and investment. Dennes earned a B.A. from Northwestern University and an M.B.A. from NYU’s Stern School of Business.
