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Question for current students regarding internships

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Question for current students regarding internships [#permalink] New post 23 Jan 2011, 11:35
Hi folks,

I'm hoping that current students here can help shed some light on a question regarding summer internships. Since some recruiting for summer internships occur before fall semester grades are posted, what do companies use as a screen? Do undergrad GPAs come into play? I'm particularly interested in how investment banks and management consulting firms screen first years, assuming you're applying from either a top 20 and/or a target program...

Thanks in advance for the advice!

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Re: Question for current students regarding internships [#permalink] New post 23 Jan 2011, 12:48
Im not in an MBA program yet, but i too have a low UG gpa and have asked the same question of students. Some schools have grade non disclosure, so you cant tell a potential employer your MBA grades until after you graduate ( most top schools have this) in this case UGPA is very important.
McKinsey will ask for your GPA on its application. Not all of them do but they may ask you in an interview, that is if you can get one. I'm not sure about IB but i imagine its the same....certain companies care enough to ask you pre interview, other may never ask.

So what the hell are we supposed to do?
well networking will be even more important for us. I'm not sure how low your gpa is but if a company gets to know you and likes you enough they may over look it if you have the right skills and are otherwise an excellent fit for them.

Another thing is that you have to rock your classes. While you aren't supposed to disclose your grades there are all kinds of titles and awards that while not giving away your exact grades do show that you are in the top 20% or even 10% of your class. Im making the following example up but if you put Presidential Scholar on your resume and you go to Duke, people know you have above a 3.75 or whatever.

Grade inflation during graduate school unfortunately makes your grad GPA less meaningful, but if its from a name brand school its will help regardless. Also a sky high GMAT can make it easier on you. Ideally you should have 700+ for most MC and IB jobs.

Hope this helps and its a great question. i hope we get some other insights
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Re: Question for current students regarding internships [#permalink] New post 23 Jan 2011, 13:13
While recruiters were on campus before grades were out, we had our first term's grades before any resume drops happened. I assume most schools are this way. Consulting firms are notorious for asking for your life story...I only filled out one consulting application, but they asked for test results of every kind, including breakdowns (ACT, SAT, GRE, MCAT, GMAT, etc). I'm sure they asked for undergrad GPA as well.
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Re: Question for current students regarding internships [#permalink] New post 23 Jan 2011, 17:37
most IB firms will ask for your SAT / college GPA on the online application. GMAT is definitely a filter, but especially in IB, the main filter is the # of bankers you've met over the recruiting period. if you have a 3.9 college gpa but have only met with 3 bankers, you won't get called in for an interview, whereas the guy with a 3.2 but who has met 20 bankers will likely get called in.
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Re: Question for current students regarding internships [#permalink] New post 23 Jan 2011, 18:02
Few random comments/observations:

1) We have grade non-disclosure so grades really don't matter

2) Some consulting firms (only thing I'm recruiting for) ask for undergrad GPA on the apps. Some ask if you get called back for second rounds

3) GMAT matters but not nearly as much as b school apps. Not even close to as much

Overall, from what I've seen, if you put in effort during the process, you will get an interview (I don't know anyone who put in lots of effort at a firm who didn't get an interview. Well, maybe 1 or 2 but its rare). After that, you can overcome a low GPA easily and a low GMAT fairly easily. If you kill your interview you'll get an offer even if those data points are weak. That said, if its a tie between you and the 3.6/770 kid, she is getting the offer.

Don't worry about it at all for now (and go to a school w/ grade non-disclosure)

That said, poor GPA, GMAT and a low PST score will make the battle at Mckinsey a bit harder.
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Re: Question for current students regarding internships [#permalink] New post 04 Feb 2011, 12:54
I would assume that this process follows similar to that of applying to colleges, as the second semester information is not available when applications are being reviewed. I believe that they would simply look at your fall transcripts and grades, but may follow up with later grades.
Re: Question for current students regarding internships   [#permalink] 04 Feb 2011, 12:54
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