First off, don't simply apply to the formal programs, then you're playing the 1/1000 numbers game when you could be playing 1/50. Find the names of dept/desk heads and contact them directly, bypassing the gatekeepers in HR. You might have to write/call 100 of them several times but it will work if you can present yourself well and not just another kid desperate to put anything on their resume. I've helped several kids (non of which attended "top" schools) obtain internships via this route, albeit some were at small, lesser known firms but many times that's where the best experience can be obtained. Oh and don't just send them a resume, start out with a call/letter (not email, too easy to delete or ignore), give them the short version of your bio, explain your interests, ask for their advice how to get into the biz via an internship, etc. Many people are glad to help kids get into the business if they show a genuine interest but very few kids are willing to ask, most kids just want to fire off 100 resumes and hope that someone calls with an offer/invite to interview. Just curious, why are you only targeting the large sell side shops, excluding Campbell? Are you considering the numerous other well regarded CTAs, buy side shops, energy shops, etc?
Good points, Petro. Thats what I'm doing now. A friend of mine got me in contact with a Private Investment Advisor at TD Waterhouse (Canadian Bank) and he offered to meet with me to discuss all the possible routes in the trading/investing area.
I can't speak for the original poster - and it's not my intention to hijack the thread. I myself am shooting for big name firms because, supposedly, they have the best training programs and opportunities to work with a lot of money - if you're good. I would love to speak with smaller firms - after all, perhaps I could make a bigger impact there and stand out from the crowd. Also, smaller firms likely do not have the big HR department that can go around to the top schools and recruit. If anyone is in trading or asset management and could use an MBA recruit for a summer 2008 internship, feel free to PM me. There's no downside to having a conversation. I have a computer science background before my MBA.
I have a lead for a summer internship. I think it is going to come through. What i want to emphasize is networking. You need to get your name out there and bypass the gatekeepers (HR and recruiters) and speak with someone that is in charge. More on this later.
what group, i have been banned from the wall street networking group as I got into a huge debacle with the creator.
Ok guys good news, I secured an internship on a trading desk for the summer. This has been a long way coming and I have worked my ass off to make it possible. What I would like to say is that the best way you can distinguish yourself and get an internship is to network network network. Once you have done that you must display that you deserve a shot, to do that you must know your stuff. If you dont go to a target school and/or do not have a great GPA there ARE ways to get around this, you just have to get yourself in contact with the right people. Best of luck to everyone! Keep searching, and remember, always be networking.
bigbrent, if you could put an outline together of which "shit you need to know" for landing an internship, i think that might help everyone as well. thanks
No, you're not screwed. I didn't go to a top school so I couldn't get a job in this field. That kinda pissed me off so I worked my tail off and figured I'd learn the business on my own. Develop a system that fits your personality and choose something other than breakouts. EVERYONE trades breakouts -- you have to do something DIFFERENT. Study statistics of the stock market. If you don't know statistics take a college course or two and apply what you learn(ed) to the stock market. Stock market data is not normal but there are periods of normalcy within non-normal data. That's where you want to focus your efforts. It's all about probability, and money management and risk management when you are wrong. If you can develop some sort of track record you'll have no problem getting a job, assuming you still want to. Nothing better than trading your own account and keeping 100% of the money. Minus Big Brother of course