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      01-17-2012, 09:30 PM   #1
Letsrunem8
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Goldman Sachs/Merrill Lynch/Morgan Stanley

Anyone on here work for any of these financial firms? I\'m trying to get an internship with one of these companies, trying to see if anyone can help
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      01-17-2012, 09:58 PM   #2
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I would also be interested in an internship at any of these firms I'm a double major in economics and finance and would love some real world experience in these fields
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      01-17-2012, 10:01 PM   #3
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Quote:
Originally Posted by Hisam135i
I would also be interested in an internship at any of these firms I'm a double major in economics and finance and would love some real world experience in these fields
I think we are on our own lol
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      01-17-2012, 10:05 PM   #4
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good luck gents... the first company only recruits out of the best schools in the nation... you're best bet is knowing someone there.
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      01-17-2012, 10:06 PM   #5
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you HAVE to know someone. It's all about who you know these days. sucks I know. I am networking everywhere to secure a job after I graduate.
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      01-17-2012, 10:12 PM   #6
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^^False. I have no connections (well, none that I haven't made by networking my ass off) Also, to the OP, I wouldn't at all class BAML with GS/MS/JPM.

I just had a first round with DB, already had one with JPM. Have upcomings with GS, MS and Barclays. Some of the elite boutiques as well. All IBD.

Got questions? Fire away.
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      01-17-2012, 10:15 PM   #7
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Quote:
Originally Posted by aut0sh0cker
^^False. I have no connections (well, none that I haven't made by networking my ass off)

Just had a first round with DB, already had one with JPM. Have upcomings with GS, MS and Barclays. Some of the elite boutiques as well. All IBD.

Got questions? Fire away.
Really?
What did you do? Just apply?
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      01-17-2012, 10:18 PM   #8
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Originally Posted by aut0sh0cker View Post
^^False. I have no connections (well, none that I haven't made by networking my ass off) Also, to the OP, I wouldn't at all class BAML with GS/MS/JPM.

I just had a first round with DB, already had one with JPM. Have upcomings with GS, MS and Barclays. Some of the elite boutiques as well. All IBD.

Got questions? Fire away.
excellent GPA (3.9 or so) mixed with a bit of luck I assume?

What school?
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      01-17-2012, 10:22 PM   #9
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Really?
What did you do? Just apply?
No, I networked my ass off first. Get in touch with any school alums, leverage any connections you have. Speak to current bankers, let them know your interests and intentions. If they really like you they can forward your resume to HR.

Alternatively, you can mention what you talked about and liked about the firm in your cover letter when you do apply.

A lot of it comes down to your resume. Each firm gets 1000s of resumes from all of the top schools (Ivies + MIT, Stanford, etc). Analysts and associates (from that school, if possible) are charged with whittling that down to 20-50 or per school (depends on school) so who will get interviewed. They literally spend 30sec - 1min per resume, and even less on cover letters.

They look for key criteria: gpa (most important), test scores, previous internship and leadership experience
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      01-17-2012, 10:26 PM   #10
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excellent GPA (3.9 or so) mixed with a bit of luck I assume?

What school?
not the highest GPA, but I can talk my way around it and I have decent work experience
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      01-17-2012, 10:27 PM   #11
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Originally Posted by aut0sh0cker View Post
No, I networked my ass off first. Get in touch with any school alums, leverage any connections you have. Speak to current bankers, let them know your interests and intentions. If they really like you they can forward your resume to HR.

Alternatively, you can mention what you talked about and liked about the firm in your cover letter when you do apply.

A lot of it comes down to your resume. Each firm gets 1000s of resumes from all of the top schools (Ivies + MIT, Stanford, etc). Analysts and associates (from that school, if possible) are charged with whittling that down to 20-50 or per school (depends on school) so who will get interviewed. They literally spend 30sec - 1min per resume, and even less on cover letters.

They look for key criteria: gpa (most important), test scores, previous internship and leadership experience
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not the highest GPA, but I can talk my way around it and I have decent work experience
Thank you for telling us absolutely everything that we already know... so in the end; knowing the right person is key...
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      01-17-2012, 10:32 PM   #12
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Thank you for telling us absolutely everything that we already know... so in the end; knowing the right person is key...
I said the opposite. 9 months ago, I knew nobody in finance. I started cold-calling / cold-emailing bankers, some were alums, some weren't. Most will probably ignore you or are just too busy, so spread your net wide.
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      01-17-2012, 10:33 PM   #13
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I had an offer for an unpaid summer internship at a ML office in San Jose, but my stupid school (UCR) decided not to offer their internship course that year (you need to receive school credit in order to be an unpaid intern in the state of CA).

What I can tell you is that they have been rather slow lately and only pick up 2-3 interns per office at a time and those spots usually go to family members or students from top universities on the east coast. I got the offer through networking, you really need to know someone on the inside.
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      01-17-2012, 10:35 PM   #14
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I'm not really for all this High GPA stuff. Show them your real-world talents OP. Become a self-made millionaire before you graduate and apply, showing these firms you got street smarts to play on Wallstreet. They want to see you know the markets, they want to know you can turn a profit eventually. Most internships are hired and purposely given hours just below what qualifies for full benefits. They're used as chew toys by Big firms to file paperwork at little-to-no-charge.

Show them you can make money. It's all any of them care about. It IS about who you know, but also more about what you can do (for them).
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      01-17-2012, 10:39 PM   #15
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Quote:
Originally Posted by aut0sh0cker View Post
I said the opposite. 9 months ago, I knew nobody in finance. I started cold-calling / cold-emailing bankers, some were alums, some weren't. Most will probably ignore you or are just too busy, so spread your net wide.
That's like saying do your best to meet the right person...

That can be said about everything and anything; so in other words that is called a connection albeit one that you established.
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      01-17-2012, 10:45 PM   #16
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Quote:
Originally Posted by Vanity
I'm not really for all this High GPA stuff. Show them your real-world talents OP. Become a self-made millionaire before you graduate and apply, showing these firms you got street smarts to play on Wallstreet. They want to see you know the markets, they want to know you can turn a profit eventually. Most internships are hired and purposely given hours just below what qualifies for full benefits. They're used as chew toys by Big firms to file paperwork at little-to-no-charge.

Show them you can make money. It's all any of them care about. It IS about who you know, but also more about what you can do (for them).
Sounds like the most realistic/legible answer lol.
But eh I'll still try to apply. I have great marketing/sales work experience. A somewhat descent gpa. I don't have anything to lose
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      01-17-2012, 10:49 PM   #17
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Quote:
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I said the opposite. 9 months ago, I knew nobody in finance. I started cold-calling / cold-emailing bankers, some were alums, some weren't. Most will probably ignore you or are just too busy, so spread your net wide.
What exactly do you mean bankers/alumns? Where did you get this contact info. Unfortunately for me, I don't live in a huge city so I am limited
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      01-17-2012, 10:55 PM   #18
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What exactly do you mean bankers/alumns? Where did you get this contact info. Unfortunately for me, I don't live in a huge city so I am limited
alums through the schools alumni network, this worked for larger firms with tons of employees. smaller regional offices and boutiques may list employees and contact info on websites. a lot of people are willing to chat and happy to help, but expect plenty of rejection. you may catch people in the middle of a bad week or in a bad mood (hours in this industry start at 70-80 and can easily hit 100+ around a live deal)

I had better luck with bankers higher up on the food chain, VPs, MDs, etc. They have more time to talk and more sway when it comes to handing out offers.
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      01-17-2012, 10:57 PM   #19
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Quote:
Originally Posted by Vanity
I'm not really for all this High GPA stuff. Show them your real-world talents OP. Become a self-made millionaire before you graduate and apply, showing these firms you got street smarts to play on Wallstreet. They want to see you know the markets, they want to know you can turn a profit eventually. Most internships are hired and purposely given hours just below what qualifies for full benefits. They're used as chew toys by Big firms to file paperwork at little-to-no-charge.

Show them you can make money. It's all any of them care about. It IS about who you know, but also more about what you can do (for them).
This right here is my plan
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      01-17-2012, 10:59 PM   #20
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Currently work for Merrill Lynch, its all about how you present yourself. I worked for bofa before so I guess my move was a little easier, I basically networked through the bank, ended up one of the top bankers in the west coast, established built a book of business and then I made my move with my book. That was all done with the mindset that I wanted to be an FA, your goals may be different. I only have a high school diploma and I'm basically a "kid" in there eyes lol. All they want to see is confidence, that you have drive, and all need preferably is some basic finance skills. If you can get in touch with a resident director thats a good starting point. im located in the bay area, feel free to pm me


Vanity basically summed it up with his last statement
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      01-17-2012, 11:00 PM   #21
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Originally Posted by Vanity View Post
I'm not really for all this High GPA stuff. Show them your real-world talents OP. Become a self-made millionaire before you graduate and apply, showing these firms you got street smarts to play on Wallstreet. They want to see you know the markets, they want to know you can turn a profit eventually. Most internships are hired and purposely given hours just below what qualifies for full benefits. They're used as chew toys by Big firms to file paperwork at little-to-no-charge.

Show them you can make money. It's all any of them care about. It IS about who you know, but also more about what you can do (for them).
Are you saying this as a figure of speech or literally? lol

...because if I became a self-made millionaire in college; the last place that I'd be looking is to get hired by a scummy wall street company that wants to fully take advantage of my talents. At that point you don't need them.
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      01-17-2012, 11:05 PM   #22
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I actually work for JPM. What department are you trying to get into? I believe it's the work experience and the people you know. At the moment, i'm a VP Branch Manger at a dt Seattle location. I'm currently going back to school to get my BA. That's right, I don't have a 4 year college degree but have a heck of a background in the finance industry. I know that going back to will help me open more opportunities. Luck also can help
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