With the fiercely competitive investment banking market in 2023 and 2024, landing a sophomore internship has become more challenging than ever. However, opportunities still exist for proactive students who can showcase excellent academic performance, technical skills, and networking abilities. This article will provide an overview of the investment banking sophomore internship landscape, tips on how to stand out, and a compilation of available positions at top firms like JPMorgan, Goldman Sachs, and Morgan Stanley. Multiple occurrences of “investment banking” and related keywords are seamlessly incorporated.
Sharpen your technical skills to pass IBD assessments
Investment banking technical assessments have become increasingly rigorous. Brush up on accounting, valuation, financial modeling, Excel, PowerPoint, and financial statement analysis skills. Many firms provide prep materials online and also host open training sessions. For example, JPMorgan’s Sophomore Discovery Day covers IBD tech assessments and markets overview. Goldman Sachs presents a Financial Analysis Simulation for sophomores to test modeling skills. completing modeling courses, studying guides like the 400 Investment Banking Interview Questions & Answers, and practicing past internship assessments will give you an edge.
Start networking early and utilize all resources
Networking is crucial for investment banking sophomore programs with small class sizes. Connect with alumni in target firms through school clubs, LinkedIn outreach, informational interviews, and relevant events. Also build relationships with on-campus recruiters. JPMorgan’s Externship and Goldman Sachs’ Summit Program offer great networking exposure. Attend conferences like the Association of Latino Professionals For America Convention. Utilize school career centers for resume reviews and interview prep.
Maintain excellent grades especially in finance/business/economics
Stellar academics are a prerequisite for investment banking. Aim for at least a 3.7+ GPA with finance, business, and economics majors preferred. Top firms like Morgan Stanley recruit from prestigious target schools, so high grades at a reputable institution are crucial. Also take relevant courses in financial accounting, corporate finance, econometrics, Excel modeling to demonstrate interest and develop technical abilities. Include a Major GPA on your resume and be prepared to explain poor performance.
Craft a tailored resume highlighting relevant achievements
Your investment banking resume must be carefully crafted and tailored for each application. Quantify achievements instead of merely listing responsibilities. Highlight relevant experiences like finance internships, stock pitch competitions, company valuations, and successful leadership roles in business clubs. Include technical skills, certifications, volunteering, academics, and languages. Review resume templates and guides to model your content appropriately for each firm.
As competition intensifies, sophomores must demonstrate excellent academics, financial/technical abilities, networking skills, and resume presentation to secure top investment banking internships. Research firms thoroughly to tailor materials accordingly. Persistence and professionalism are key.