Reply to 18-month Lead Time for Wall Street Summer Internships?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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.[/quote]

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. [b]They asked detailed financial questions, tested understanding of valuation, accounting, and market trends, [/b]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.[/quote]

How many college sophomores and juniors have such knowledge?[/quote]

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.[/quote]

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