18-month Lead Time for Wall Street Summer Internships?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Most firms recruit on campus so if your kid attends a school where they do, your kid will be able to navigate this.

You don’t need finance classes for a Wall Street internship. They don’t let you anywhere near anything that remotely requires finance knowledge.

That’s not quite accurate. While some entry level finance roles might not ask in depth financial questions, most Wall Street internship interviews, especially for IB, are very technical. DC went through IB interviews in the fall and had to prep for months. They asked detailed financial questions, tested understanding of valuation, accounting, and market trends, and gave case studies to assess how you think. In the end, i bet a decent amount of these internships are secured as a result of who daddy knows.

How many college sophomores and juniors have such knowledge?

Schools increasingly have clubs that help prepare students for these interviews. Based on my limited experience with them they seem kind of like ponzi scheme cults, but I could be wrong. Because you are correct that at most schools, particularly Ivies that don't have pre-business programs (other than Wharton), no one will have taken many of these classes by the time they start interviewing - they might get to a few junior/senior year.

Again, as others have stated, as one who used to work on Wall Street, I preferred to hire smart kids who might not know a lot but would be hard workers and good culture fits over the over-prepared striver types. But I knew others who loved these types.

[Anonymous]

Anonymous wrote:The Bucknell pipeline must be backed up.

the same angry anti-bucknell weirdo perpetuates the negativity with posts like this - incredible. Bucknell is a great school and option for many, wonder where you went hotshot - based on the smugness probably much failure in ur past

[Anonymous]

The nepotism absolutely shocked me this cycle. My kid going MBB route, where she says “who you know” may help get interview (which is a big thing of course), but then it seems to be on merit. The nepotism with banking/IB is ridiculous - she sent me three examples of kid posting self-congratulatory linkedin announcements, with daddy chiming in on the comments with “big congrats!” 2 of the top bulge bracket banks were the culprits. How this is allowed by HR at publicly traded companies is beyond me - kids have the same last names, and dad is calling attention to it on social media!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:My sister is MD at a big bank. They start recruiting fall of sophomore year and you must have at least a 3.5 GPA at that point. She tried to get a relative’s daughter in, but HR said no bc she only had a 3.2.

No one will believe this but the who you know only matters if you are a top candidate. The old - dad knows somone and the dumb kid gets in is not true anymore. The story above makes sense. If the kid had a 3.7 then the MD might have been able to help. Things all changed after the pricelings cases about a decade or so ago where the banks gave jobs to children of Communist party members in exchange for work. All of the big banks redid their hiring process globally including internships to take out the who you know or what you can bring.

Why do we always have people who have no clue how the real world operates, and yet they always chime in and spew out things they know nothing about? I was instructed by my immediate supervisor to select two different candidates who are also D1 athletes, one from Pitt, one from Florida State University, jumping over ten other much more qualified candidates from Ivies, Dukes, and UVA for internship positions at a very well-known IB company. It is because two different managing directors are big supporters at Pitt and FSU. I was told that my annual bonus and job security depend on this. The Pitt and FSU athletes have a 2.8 and 2.9 GPAs, respectively. You're living in a fantasy world if you think otherwise.

[Anonymous]

Anonymous wrote:

Anonymous wrote:many were interested in SAT score also

Not true.

Irrelevant.

GPA? Yes.

Maybe you're speaking from your own experience but DC interviewed with many top IB firms and most asked for SAT score. DC attends an IVY/Target school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:many were interested in SAT score also

Not true.

Irrelevant.

GPA? Yes.

Maybe you're speaking from your own experience but DC interviewed with many top IB firms and most asked for SAT score. DC attends an IVY/Target school.

My Kid is ivy too. Many asked SAT scores this cycle

[Anonymous]

Anonymous wrote:The Bucknell pipeline must be backed up.

Sorry your kid didn't get in.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:many were interested in SAT score also

Not true.

Irrelevant.

GPA? Yes.

Maybe you're speaking from your own experience but DC interviewed with many top IB firms and most asked for SAT score. DC attends an IVY/Target school.

My Kid is ivy too. Many asked SAT scores this cycle

They might ask but I am almost sure they don't care. Lots of TO jocks still land on Wall Street.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:many were interested in SAT score also

Not true.

Irrelevant.

GPA? Yes.

Maybe you're speaking from your own experience but DC interviewed with many top IB firms and most asked for SAT score. DC attends an IVY/Target school.

It’s a very dumb question if the kid attends an Ivy. Good enough for an Ivy means it’s obviously superior.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:many were interested in SAT score also

Not true.

Irrelevant.

GPA? Yes.

Maybe you're speaking from your own experience but DC interviewed with many top IB firms and most asked for SAT score. DC attends an IVY/Target school.

It’s a very dumb question if the kid attends an Ivy. Good enough for an Ivy means it’s obviously superior.

Not obvious with Test Optional.

[Anonymous]

Wow, this is insane.