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GUIDE: What To Do If You Don't Secure A Spring/Summer Internship

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What do people think of getting private equity/venture capital work experience if I want to do IBD M&A?
Original post by ravman123456
What do people think of getting private equity/venture capital work experience if I want to do IBD M&A?

PE, yes, definitely for obvious reasons. VC, meh. VC work is pretty different at the intern level. Not a lot of modelling/accounting stuff. If it's what you're interested in, why not, but it's not gonna be super useful for IB. As always, anything is better than nothing though.
Reply 23
Hi, Thank you for the informative post
I had a question about the psychometric tests, you recommended using JTP. I just wanted to know if it was a specific pack from them which you would recommend (I was looking at the "Graduate Job Assessments The Full Practice Experience") would using that work or is there any other one that I should be using
Original post by ta9967
Hi, Thank you for the informative post
I had a question about the psychometric tests, you recommended using JTP. I just wanted to know if it was a specific pack from them which you would recommend (I was looking at the "Graduate Job Assessments The Full Practice Experience") would using that work or is there any other one that I should be using

I'm talking about getting one of these: https://www.jobtestprep.co.uk/pricing-page-plans. £69 is best because on there, you get access to all packs they have for all employers. Split it with someone (or several) if you can't afford it. During recruitment periods, you can definitely just sell logins for a fiver and easily make your money back, though if anyone asks, I didn't tell you that :wink:.
(edited 3 years ago)
Reply 25
Original post by anonuser99
I'm talking about getting one of these: https://www.jobtestprep.co.uk/pricing-page-plans. £69 is best because on there, you get access to all packs they have for all employers. Split it with someone (or several) if you can't afford it. During recruitment periods, you can definitely just sell logins for a fiver and easily make your money back, though if anyone asks, I didn't tell you that :wink:.

Aah ok thank you soo much that clears it up
Reply 26
Bump, saving this for my internship applications :smile:
Original post by anonuser99

[*]Psychometric Tests - buy JobTestPrep, split it if you have to (please don't sue me JTP), and practice, practice, practice.



[*]Practise*
Edited to add some extra resources and slight amendments on Networking.
How important would you say networking is for London and BB's? I mean if you setup a call with a senior banker, is it mainly just a chance to learn about the firm/industry or can you get something like a referral from them? Idk if that is common in london comapred to the US
Original post by Bigman22
How important would you say networking is for London and BB's? I mean if you setup a call with a senior banker, is it mainly just a chance to learn about the firm/industry or can you get something like a referral from them? Idk if that is common in london comapred to the US

network with HR at events, intro your name and where you study and ping an email to them when you submit an app
Original post by gr8wizard10
network with HR at events, intro your name and where you study and ping an email to them when you submit an app

But is it common for bankers in London to refer your CV if you get what I mean? Like how can they help apart from just speaking to them and gaining information for your cover letter?
Original post by Bigman22
But is it common for bankers in London to refer your CV if you get what I mean? Like how can they help apart from just speaking to them and gaining information for your cover letter?

It can happen but it's not common *at all*. It doesn't have nearly the potency it has in the US.
Original post by Bigman22
But is it common for bankers in London to refer your CV if you get what I mean? Like how can they help apart from just speaking to them and gaining information for your cover letter?

back when i was an analyst @ these events we were asked to write down names of people who showed enthusiasm
Original post by gr8wizard10
back when i was an analyst @ these events we were asked to write down names of people who showed enthusiasm

I've heard of this, never experienced it mainly because every event I've been to it's impossible to get a word in. All the people in FO roles are swarmed by 10 people each trying to squeeze a question in. My advice to anyone going to these events is tbh, ask a question (if you can), get the person's card/name, and hit them up on LI/email later for an actual chat.
Original post by gr8wizard10
back when i was an analyst @ these events we were asked to write down names of people who showed enthusiasm

Oh that's interesting. I was on a call with a banker at a BB yesterday looking for grad positions. He said he won't be able to help in the application process. So I took this as referrals not really being used. Do you think I should push and ask for a referral anyway, or would it be too antagonising?
Original post by anonuser99
I've heard of this, never experienced it mainly because every event I've been to it's impossible to get a word in. All the people in FO roles are swarmed by 10 people each trying to squeeze a question in. My advice to anyone going to these events is tbh, ask a question (if you can), get the person's card/name, and hit them up on LI/email later for an actual chat.

So is the aim of the chat/call to get more information and just show interest for a good contact in the network or to ask for help in moving along the recruitment process?
Original post by Bigman22
Oh that's interesting. I was on a call with a banker at a BB yesterday looking for grad positions. He said he won't be able to help in the application process. So I took this as referrals not really being used. Do you think I should push and ask for a referral anyway, or would it be too antagonising?

Most banks do not have referral schemes. Some do (and I mean some). If he can't help, you either didn't impress him OR (and most likely) there is simply not a way to help you.

Original post by Bigman22
So is the aim of the chat/call to get more information and just show interest for a good contact in the network or to ask for help in moving along the recruitment process?

Yes to the first one, no to the second. Pretty much what I said in the guide is my opinion on the matter.

I did "network" pre-app season last year but not for every bank and I only used it for motivational questions. Didn't mention it after. There wasn't a meaningful correlation between my networking and AC offers or actual offers.
Original post by Bigman22
Oh that's interesting. I was on a call with a banker at a BB yesterday looking for grad positions. He said he won't be able to help in the application process. So I took this as referrals not really being used. Do you think I should push and ask for a referral anyway, or would it be too antagonising?

Quick caveat: boutiques (including EBs) are a little more receptive to networking I've heard.
Original post by anonuser99
Most banks do not have referral schemes. Some do (and I mean some). If he can't help, you either didn't impress him OR (and most likely) there is simply not a way to help you.

Yeah I think it was the second one, since the call went well and we had good conversation for half an hour. I felt the call could have gone on longer but he had another call after so had to go. And bankers are busy so half an hour is super valuable time to them haha.

I guess there is no way for him to help, it seems at the BBs in London the recruiting is all done by HR, who only send CVs to bankers to select from. I'll still ask if he can help in another way I suppose via a message just to make sure, but don't want to be annoying.

Also when you say some banks do have referral schemes, can you name which ones please?

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