With the highly competitive nature of investment banking internships, sophomores face an uphill battle getting a coveted spot. However, through proper positioning and leveraging diversity programs, ambitious students can land top BB and elite boutique internships. This article explores popular programs targeting sophomores and actionable tips to strengthen your candidacy.
BofAlaunchpad and JPMorgan launch early diversity programs
BofA and JPMorgan run early diversity programs aiming for sophomores from underrepresented backgrounds. By completing modules on skill-building and networking with professionals, students get fast-tracked for 1st year internship interviews. Applicants need a 3.2+ GPA and be graduating between Dec 2025 – Aug 2026. Beyond fast-tracking, these programs facilitate access and demystify the recruiting process for young students new to finance.
Boutiques value raw smarts through off-cycle programs
Elite boutiques like Moelis look for hungry self-starters ready to work hard. Through off-cycle internships targeting frosh/sophomores, banks assess analytical potential rather than polish. Applicants solve business cases and if selected, intern during spring/fall supporting live deals. Strong performance leads to full-time interviews and multiple offers down the road.
Leverage semi-targets and non-targets for better odds
Non elite state schools and liberal arts colleges get overlooked despite talent. By targeting semi-target/non-target programs, astute sophomores greatly improve their odds over those just applying to BB banks online. Build relationships with alumni in BB banks to get a referral. With realistic expectations, hungry students gain experiences to strengthen junior year recruiting.
Master technical skills and financial modeling
Despite being early in their studies, ambitious sophomores should vigorously build Excel, financial modeling, valuation, and pitch book skills, along with financial and market awareness. BB banks and elite boutiques seek students with raw potential to handle live deals with appropriate grooming. Work on becoming an expert in a sector through deep research and mock models.
Investment banking continues its position as an elite career destination with a highly competitive funnel. However, various programs exist for talented, motivated sophomores to obtain internships at top financial institutions, set themselves up for later success and learn directly on live deal teams.