With investment banks starting to recruit earlier and earlier, landing a coveted sophomore summer analyst internship for 2024 is becoming more competitive than ever. Understanding how to strategically position yourself as an underclassman and tap into early recruiting opportunities at top firms like Morgan Stanley and Goldman Sachs is key. This overview covers the landscape of global investment banking summer programs for the Class of 2026, from optimal timing and qualifications to networking tips and application advice. Equip yourself to get ahead of the curve and increase your chances of securing an interview and offer.
Investment Banks Are Now Recruiting 2 Years in Advance for Sophomore Programs
Many bulge bracket investment banks have already begun posting sophomore summer analyst positions for 2024. JPMorgan opened applications in December 2022, a full two years before students would start the 10-week program. Goldman Sachs also kicked off sophomore recruiting earlier than previous years. Whereas underclassmen recruiting used to start in the spring semester, banks are shifting timelines earlier to get the cream of the crop talent. For students, this means preparing your resume, networking, and brushing up on technical skills as early as freshman year to have a competitive edge.
Aim To Land Investment Banking Internships Sophomore Summer
While some banks recruit freshman as well, sophomore year is the prime time to lock down an internship that can translate into a full-time offer. Banks including Credit Suisse, Barclays, and Citi mainly hire sophomore and junior interns for their incoming analyst class. Securing an internship early on provides work experience recruitment teams look for and shows you have an understanding of the industry.
Cast A Wide Net With Networking and Recruiting Events Starting Freshman Year
On top of applying through online portals, leverage events to get your foot in the door. Attend information sessions when banks visit campus and ask questions that demonstrate interest and preparation. Seek out conferences like Sponsors for Educational Opportunity and Management Leadership for Tomorrow. Look into diversity programs like Morgan Stanley’s Freshman Sophomore Leadership Program. Sign up for coffee chats on platforms like Insights Global and Firsthand. Start networking and making meaningful connections as a freshman, and follow up throughout the years.
GPA Above 3.5 Is Competitive; 3.7+ Gives You an Edge at Top Banks
A strong academic track record is important when investment banks screen sophomore applicants. However, GPA thresholds vary by firm. For instance, JPMorgan and Citi require a 3.2 while Goldman Sachs and Morgan Stanley look for 3.5+ GPAs. You’ll stand out with 3.7 and above, especially at banks with highly selective programs like Deutsche Bank, Evercore, and Centerview.
Technical Training Should Start Early to Prepare for Interviews
Even as an underclassman, you need to showcase financial modeling, valuation, and accounting skills. Grind through accounting courses, modeling tutorials, and case studies on platforms like Wall Street Prep, Wall Street Oasis, and Training the Street in freshman and sophomore year. Nail down accounting, DCF, M&A, LBO, and other key frameworks. The technical questions will only get harder during junior year internship and full-time interviews.
Starting preparation as early as freshman year and actively sourcing underclassmen events and programs is instrumental to locking down a top investment banking summer analyst internship. Perfect your resume, financial modeling abilities, and communication skills well before recruiting season kicks off. With investment banks pushing timelines earlier, smart students will follow suit and get ahead of the curve.