Want to get a proper shot at big firms. Any tips?
I am a sophomore Managerial Economics student at a decently high academic and renowned liberal arts college and have around a 3.4 cumulative gpa (This year have a 3.95 so trying to get that up obviously). I recently had to medically retire from playing college football here--too many concussions, trainer said I was done--so I have been trying to do new things to make myself more 3 dimensional without "collegiate athlete".
I joined a fraternity here and have been doing a ton for it even though I don't have a leadership position yet. Been in charge of our entire apparel campaign with alumni, sororities, and others to try and get some extra money to finance a better off-campus house. I am trying to join the Inter Fraternity Council as the treasurer as well as will run for class treasurer. I am the social media manager of the water polo club I just joined. I am going to join the student investing fund too which is like a club where we were granted money to invest by the school.
I had a wealth management internship at a small firm (managing about 500 mil) in the winter which I got great feedback from--they really liked me. Ended up pitching an investment to the CEO and all members of the firm which netted a 60% profit in 3 months.
The past couple months I have been helping out a tech start up with supply chain optimizations and within the first week I made them 20-50% more cost efficient on each order of their product saving them a ton of money. I will also be helping them with sales/cold calls during the summer since I wasn't able to land an internship at any of the bigger firms I applied to.
I am incredibly hard working, and a very personable guy-- literally a super power of getting along with everybody I meet. I guess I wish these bigger firms that use application resume screening and cross me off because of lower academics and actually talked to me and saw my real strengths which are arguably more important than doing well in classes in college that have no applications to the real world.
Anyways, wanted to ask you guys what advice you have regarding getting myself out there with these bigger firms-whether it be IB or WM? I have a ton of connections to them through people I know and my family but they seem to not have as much "pull" with getting me an internship since they are so big and get so many applicants. One of the guys I talked to was the former CEO of Vanguard and he explained that it wouldn't even be a bad idea to call some of the places after applying just to show interest/get your name out there but idk.
I think for WM at least it’s if you have a good GPA you have a good chance. Add reaching out to alumni at the branches your interested in and your chances go up. It’s really all networking man.
Based on the insights from Wall Street Oasis, here are some actionable steps you can take to enhance your chances of securing an internship or a position at a larger firm in investment banking or wealth management:
Leverage Your Network: You mentioned having connections through family and acquaintances, including a former CEO of Vanguard. Use these connections not just for referrals but also for informational interviews. Ask them about their career paths, the firm’s culture, and advice for applicants. This can provide you with insider knowledge that can be beneficial in interviews and might even lead to a referral.
Enhance Your Resume: Given your diverse experiences, ensure your resume highlights your achievements effectively. Use quantifiable achievements like the investment pitch that netted a 60% profit or your supply chain optimization that saved significant costs. Tailor your resume for each application to align with the job description.
Follow Up Strategically: Following the advice of the former CEO of Vanguard, don’t hesitate to follow up on your applications. A polite email or phone call expressing your enthusiasm for the role and reiterating how your skills align with the company’s goals can set you apart from other candidates.
Expand Your Practical Experience: Continue to seek out practical experiences that align with your career goals. Your role in the student investing fund is a great start. Look for opportunities to take on leadership roles within these activities, as these are often attractive to big firms.
Perfect Your Interview Skills: While you have strong interpersonal skills, formal interview settings can differ significantly. Practice common interview questions for IB and WM positions. Consider mock interviews with peers or mentors to refine your approach.
Networking Events and Workshops: Attend industry networking events, workshops, and seminars to meet professionals in the field. These can often lead to unexpected opportunities and will help you stay informed about industry trends and company cultures.
Utilize Alumni Networks: Your college’s alumni network can be a powerful tool. Reach out to alumni who are working in your target firms or industries. Alumni are generally more willing to offer advice, insights, and sometimes even referrals.
Stay Persistent and Resilient: The competition for positions at top firms is fierce, and rejection can be part of the process. Stay persistent, keep refining your approach, and maintain a positive outlook.
By focusing on these strategies, you can improve your visibility to larger firms and enhance your chances of securing a position that aligns with your career aspirations in investment banking or wealth management.
Sources: Tips for Getting an internship in Investment Banking as a freshman, How to Get an Internship After Freshman or Sophomore Year, Please Advise: Never-Ending Job Hunt, You want a summer analyst offer? Here's how..., Advice for summer Asset Management interns
If really wanting IB, I'd add a minor, extend graduation, and recruit for SA 2026 next year
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