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eggplantpower
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Are there M7 students who are unable to secure summer internships? 05 Sep 2014, 14:19
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Does anyone have any stories on 1st year students aspiring to go into Investment Banking or Consulting, who were unable to secure any summer internships but somehow still managed to secure full-time offers the following year?
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Are there M7 students who are unable to secure summer internships? 06 Sep 2014, 16:50
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Are there M7 students who are unable to secure summer internships? 07 Sep 2014, 21:16
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Career Services at Booth (as at most of the M7 schools, I'm sure) prides themselves on helping nearly 100% of 1st years secure an internship if they are seeking one. I don't know anyone who didn't have one this summer.

That said, there are always cases where someone's first (or second) choice industry doesn't work out. I know several recent grads who found themselves in this situation last summer and successfully recruited for their first choice (often consulting or banking) in their second year.
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Are there M7 students who are unable to secure summer internships? 17 Sep 2014, 19:56
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Speaking for Tepper (not M7) - everyone (100% of full time class) is always able to get an internship here.

For consulting specifically, not everyone gets an internship at their top choice. They always advise you to have a back-up plan. I believe securing an internship in consulting is actually more difficult than a full-time offer in consulting at Tepper (at least, we have twice the number of full time offers every year as we do internships in consulting).

I don't know too much about IB, but I think you would want to be really close to the city... Recruiting consists of going to NYC every weekend.
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Are there M7 students who are unable to secure summer internships? 02 Oct 2014, 23:28
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farful
Speaking for Tepper (not M7) - everyone (100% of full time class) is always able to get an internship here.

For consulting specifically, not everyone gets an internship at their top choice. They always advise you to have a back-up plan. I believe securing an internship in consulting is actually more difficult than a full-time offer in consulting at Tepper (at least, we have twice the number of full time offers every year as we do internships in consulting).

I don't know too much about IB, but I think you would want to be really close to the city... Recruiting consists of going to NYC every weekend.
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At Kellogg, we have similar figures for consulting (twice as many FT as internships), but this is a bit misleading - a large portion of the difference is sponsored students who choose to go back to their employers. People certainly succeed quite often recruiting for consulting during their 2nd year, but internship is definitely the best bet.

In regards to the larger question, you need to keep in mind people have unique hierarchy rankings of preferences. Many people will rank MBB as their top choice, but then have Googe/Apple as their 2nd choice, or a marketing firms, or a leadership development positions, or return to their previous employer,etc...not 2nd tier consulting firms. If you go to a M7, you can almost certainly get a consulting job, it's just that many people don't want consulting outside the top 4 or 5 firms, with maybe a boutique or two thrown in.

In regards to bankings...its been very easy the last few years, I think something like 85-90% of people who recruit for it get a BB internship - although this could change since they've increased the salary 25% and cut hours.