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First year students -- what internships are you gunning for?

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First year students -- what internships are you gunning for? [#permalink] New post 24 Dec 2007, 12:59
Just curious what you all are hoping to do this summer? Banking? Consulting? Non-profit.

I imagine it is going to be a very hectic January for you all. Best of luck!
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 [#permalink] New post 24 Dec 2007, 21:33
retail banking or consulting.
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 [#permalink] New post 25 Dec 2007, 01:14
I'm going for investment banking. The two most popular career choices are banking and consulting (shocker). You pretty much have to choose whether you'd rather be on the road a lot, or if you'd prefer to be in your office a lot. I guess I'd rather work hard and sleep in my own bed most nights (on the nights I'm allowed to go home :)) than hang out in airports and hotel bars.

I've also got several interviews with hedge funds coming up, but their recruiting has been disjointed so it's hard to gauge whether they are truly interested.
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 [#permalink] New post 25 Dec 2007, 09:09
pelihu wrote:
I'm going for investment banking. The two most popular career choices are banking and consulting (shocker). You pretty much have to choose whether you'd rather be on the road a lot, or if you'd prefer to be in your office a lot. I guess I'd rather work hard and sleep in my own bed most nights (on the nights I'm allowed to go home :)) than hang out in airports and hotel bars.

I've also got several interviews with hedge funds coming up, but their recruiting has been disjointed so it's hard to gauge whether they are truly interested.


Is it hard to land internships at the top tier firms? It seems as if they hire many more full-times than interns.
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 [#permalink] New post 25 Dec 2007, 09:57
For the top schools, I believe the common belief is that consulting firms hire a lot more for full-time than for internship. On the other hand, the common belief for bank hiring is that it's extremely difficult to secure a full-time job if you didn't do an internship. Most of the 2Ys that are able to land bank jobs actually just move between firms.

As to whether it is hard, I'll have a good answer in about 3-4 weeks. From what I can tell, about 2/3 of the people interested in banking here will land top-tier jobs. I kind of feel like the 1/3 that aren't able to land top jobs have only themselves to blame; whether it be poor networking skills, bad manners, lack of effort or just plain rudeness. For consulting firms, I think far fewer end up with internship offers, but many are laying the groundwork for full-time jobs next year.
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 [#permalink] New post 25 Dec 2007, 10:42
pelihu wrote:
For the top schools, I believe the common belief is that consulting firms hire a lot more for full-time than for internship. On the other hand, the common belief for bank hiring is that it's extremely difficult to secure a full-time job if you didn't do an internship. Most of the 2Ys that are able to land bank jobs actually just move between firms.

As to whether it is hard, I'll have a good answer in about 3-4 weeks. From what I can tell, about 2/3 of the people interested in banking here will land top-tier jobs. I kind of feel like the 1/3 that aren't able to land top jobs have only themselves to blame; whether it be poor networking skills, bad manners, lack of effort or just plain rudeness. For consulting firms, I think far fewer end up with internship offers, but many are laying the groundwork for full-time jobs next year.


What does 'laying the groundwork for full-time jobs' entail? What kind of internships do these people do? Do people ever do banking in the summers before moving to consulting full-time?
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 [#permalink] New post 25 Dec 2007, 11:15
To me, laying the groundwork means getting to know the recruiters, learning about the firm and showing interest. When they come back next year and hire for full-time positions, these people should be in the best position.

Some people take banking internships and then switch to consulting the next year, but the reality is that you really can't effectively recruit for both types of jobs during the first year; there's just not enough time. People interested in consulting that do not land the jobs they want as 1st years tend to go for product management or marketing internships I guess. Banking and consulting interviews take place very early; so it's possible to go after something else if you don't succeed.
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 [#permalink] New post 26 Dec 2007, 00:17
pelihu, i remember you mentioning that you're on the "older" side of the b-school students, and generally people who are younger look for the IB jobs. Is there a reason for you to look at IB jobs, and does your age come into play during your interview process?

I'm curious because I'm also in one of the "older" categories, thank you! :)
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 [#permalink] New post 26 Dec 2007, 01:30
Well, I didn't really consider what type of person they generally try to look for, but I can tell you with 100% certainty that age never came up throughout the recruiting process. We haven't had interviews yet, but I've had a really successful fall and I expect to be on a lot of closed lists. I'll post my results as things develop over the next few weeks.
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 [#permalink] New post 26 Dec 2007, 01:53
congrats on the good work pelihu! Good to hear that age isn't an issue so far for IB!
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Re: [#permalink] New post 04 Jan 2008, 17:25
kryzak wrote:
congrats on the good work pelihu! Good to hear that age isn't an issue so far for IB!


The results have started to come back in as firms started releasing their closed interview lists earlier this week (varies by school of course). I can definitively confirm that age was not a factor at all. Like most people, I dropped a bunch of resumes, and so far 14 of the firms I submitted for have released their lists. I'm 13/14 including those rumored to be the most competitive (GS & MS), a pedigreed hedge fund and a surprise call from Google (I think 90% of our class submitted resumes to them). The only one I didn't get, so far, is a firm where I was forced to miss their last two big events due to schedule conflicts; I chose to attend events with other firms so I think they gathered that they weren't my top choice.

Anyhow, age never came up, but I think it's important to demonstrate experience commensurate with your age - kind of like how it works for b-schools admissions. If you're just plain older and don't have impact experiences in your background, that would be difficult to overcome. I do think as an older candidate you need to demonstrate that you can get along with 20-somethings because you'll probably be spending some late nights out grinding away with them. But really, this isn't any different than most other candidates because few are 'naturals' and most people must overcome certain things.

So, the battle is only half-won at this point because there is still work to do in order to land an offer but up to this point things couldn't be better. As someone suggested elsewhere, I will try to start a thread on recruiting and schmoozing. I definitely observed some missteps that caused people a lot of grief so it might be helpful to try to learn from them.
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Re: First year students -- what internships are you gunning for? [#permalink] New post 04 Jan 2008, 19:50
CONGRATS Pelihu on your amazing record there! :) Google is also a pleasant surprise! I might try to intern there too.. we'll see.

working with 20 somethings is pretty easy for me, considering I still hang out with a bunch of college students (as their mentor) all the time in crowded cabins, haha... trying to stay young mentally. :P
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Re: First year students -- what internships are you gunning for? [#permalink] New post 06 Jan 2008, 19:09
My first choice for summer is consulting; if I don't get it, I'll probably try tech or CPG.
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Re: First year students -- what internships are you gunning for? [#permalink] New post 19 Jan 2008, 02:08
Hi All,

So what industries pay the most for internships? Do IB & Consulting inters get the highest monetary awards?
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Re: First year students -- what internships are you gunning for? [#permalink] New post 19 Jan 2008, 17:33
Generally IB and consulting. Although when I was at Yale I met someone who interned with the National Episcopal Church and made as much as her classmates in IB!
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Re: First year students -- what internships are you gunning for? [#permalink] New post 21 Jan 2008, 20:38
Darden2010 wrote:
Hi All,

So what industries pay the most for internships? Do IB & Consulting inters get the highest monetary awards?


I award you the most confusing username avatar combination of the year. Tuck, Michigan and Darden :)
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Re: First year students -- what internships are you gunning for? [#permalink] New post 22 Jan 2008, 00:47
rhyme wrote:
I award you the most confusing username avatar combination of the year. Tuck, Michigan and Darden :)


hihih :) at least I made it to one of 'the most' lists :)

I liked Darden a lot last year but I don't like it how everything has changed over there this year... so I ended up applying to Ross and Tuck :)
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Re: First year students -- what internships are you gunning for? [#permalink] New post 22 Jan 2008, 17:45
just curious, what are the average salaries for the summer internships at IB and consulting firms?
cheers,
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Re: First year students -- what internships are you gunning for? [#permalink] New post 22 Jan 2008, 17:53
ac8706 wrote:
just curious, what are the average salaries for the summer internships at IB and consulting firms?
cheers,
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Re: First year students -- what internships are you gunning for? [#permalink] New post 22 Jan 2008, 17:55
kryzak wrote:
working with 20 somethings is pretty easy for me,


Same here, because i behave so immaturely :evil:
Re: First year students -- what internships are you gunning for?   [#permalink] 22 Jan 2008, 17:55
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