Investment Banking Internships 2008 (4 Viewers)

[pete_mate]

Better in terms of clientele and size. thats how i see it

If you're only aiming for a 96 uai, you'd be lucky for any front office positions to take you.

haha, arrogant little hsc kiddie

 

[velox]

If you're only aiming for a 96 uai, you'd be lucky for any front office positions to take you.

haha, arrogant little hsc kiddie

Remember kiddies, IBs only look at UAIs!

 

[leoyh]

If you're only aiming for a 96 uai, you'd be lucky for any front office positions to take you.

haha, arrogant little hsc kiddie

dude, aim and what you realistically get is two different things. are you an idiot or do you not understand the word aim? can't someone aim low or are you too arrogant yourself?

And btw, IB looks at your results at uni, whether it be for internship or graduate. In fact, they look at heaps and go threw heaps of measures just to validate your resume. Anything below Distinction average pretty much grants you a goodbye.

And i don't see myself entering IB anytime soon anyway so im just sharing my thoughts. And why i'm posting in this thread if im not going into IB anytime soon, which im pretty sure you'll be asking yourself after reading this, its cause i feel like it.

 

[blue_chameleon]

This thread seems abnormally high on estrogen.

 

[pete_mate]

Remember kiddies, IBs only look at UAIs!

i know i know, i just wanted to illustrate that comparing banks is a little bit redundant.

I know people with HD averages that are happy to get a position at any firm at the end of the day.

leoyh: i don't normally point out spelling, but threw rather than through is quite a doozy.

 

[3li]

lol leoyh ur a douche

ive got mates who got 4 offers with credit average

 

[ifsonotso_100]

lol leoyh ur a douche

ive got mates who got 4 offers with credit average

u can't have many mates who've got that. so im pretty sure mates=mate and there's always going to be exceptions but in this market you'd have to have gun extracurriculars to have shot with a cred av.

Considering how few positions are offered when we are looking at front office they can be afford to be choosy and from their point of view there are enough people scoring ds and higher with awesome extras and other relevant stuff for credit av students to have little or no chance.

So to say credit av=no chance is wrong but to say you have a good chance is also very wrong, in every cohort there will be exceptions but if you are serious in getting in you need a d av +other things to be competitive in the application stage.

 

[3li]

yea thats true

but no i have a couple of mates

 

[ifsonotso_100]

if you have quite a few mates who got 4 offers in front office positions- if that's true that's pretty impressive

 

[3li]

nah
more specifically, 1 with 4 offers and 2 with 2 offers, but all for usmmer nto grad

they all credit average.

but they all have the similar quality work exp and testing skills > the average hd student

 

[blue_chameleon]

There are also things called the invisible barriers which recruiters use to exclude people that you and I think would be a shoe-in for a grad job.

Depending on where you're applying, you might have an ace academic record and with extra curric's and still get knocked back. In my experience, there are a few factors that grads won't usually consider...and company's won't admit to using them, but they are definately there.

Imo, a lot of it comes down to whether you fit the company.

 

[3li]

There are also things called the invisible barriers which recruiters use to exclude people that you and I think would be a shoe-in for a grad job.

Depending on where you're applying, you might have an ace academic record and with extra curric's and still get knocked back. In my experience, there are a few factors that grads won't usually consider...and company's won't admit to using them, but they are definately there.

Imo, a lot of it comes down to whether you fit the company.

yeap sometimes-

have to have a social life

drinks and afterwork functions etc.

also theres a quota for asians

and at least 1 token aussie

also if ur ugly/look like a douche or look lazy and not well dressed - not unheard of reasons

 

[blue_chameleon]

such as?

Invisible barriers?

Well, obviously with all the anti-discrimination laws in place, company's would never openly admit they denied an applicant a job based on say, class or gender.

So instead, they use the following to justify their position taken:

- "perception of clients"
- "illegitimately questioning their honesty/integrity"
- "generally not fitting the company"

Everybody know's there are cultures in certain company's that harbour this. The stereotypical "boys club" environment for a simple example. They wouldn't say directly to women that they aren't considered because they're female; they use other largely intangible factors to justify their exclusion.

EDIT: These things aren't so much "unheard of", obviously. Although, it would be naive to think they don't exist. I was pointing out that imo, usually grads are.

 

[sf_diegoxrock]

dude, aim and what you realistically get is two different things. are you an idiot or do you not understand the word aim? can't someone aim low or are you too arrogant yourself?

And btw, IB looks at your results at uni, whether it be for internship or graduate. In fact, they look at heaps and go threw heaps of measures just to validate your resume. Anything below Distinction average pretty much grants you a goodbye.

And i don't see myself entering IB anytime soon anyway so im just sharing my thoughts. And why i'm posting in this thread if im not going into IB anytime soon, which im pretty sure you'll be asking yourself after reading this, its cause i feel like it.

Lol where are you getting your info from?

I know a few friends on credit averages who have already scored offers for the summer and even 2 last year who ended up with a grad position @ MacqBank.

Shouldn't you be studying for your HSC rather than looking through the tertiary studies forums and making huge generalisations about IBs?

 

[sf_diegoxrock]

Who can they find out about your social life and enjoyment of drinking or lack thereof through the interview process.

As for being well presented, they don't hide this requirement.

In the first round interview with the HR person, they ask you questions about what you get up to in your spare time, what do you spend your weekends doing, etc

Haha it would definitely be strange if they asked about drinking habits!

 

[pete_mate]

Lol where are you getting your info from?

I know a few friends on credit averages who have already scored offers for the summer and even 2 last year who ended up with a grad position @ MacqBank.

Shouldn't you be studying for your HSC rather than looking through the tertiary studies forums and making huge generalisations about IBs?

You still haven't said whether this is in the Mac Capital division or other front office. It would be very unusual if this is the case.

Further, it'd be virtually impossible in this market in the future.

 

[Rorix]

yeap sometimes-

have to have a social life

drinks and afterwork functions etc.

also theres a quota for asians

and at least 1 token aussie

also if ur ugly/look like a douche or look lazy and not well dressed - not unheard of reasons

Ugliness definitely isn't one. Have you seen how ugly bankers are? Its amazing

 

[Descendia]

You still haven't said whether this is in the Mac Capital division or other front office. It would be very unusual if this is the case.

Further, it'd be virtually impossible in this market in the future.

I know of at least one guy who got into MacCap (well it was IBD back then) with a credit average. Great extracurriculars though, and just all around top bloke.

No matter how great your marks or extracuricculars/how good you look on paper, if you're someone who can't hold a decent conversation in person, you're gunna struggle to get through. End of the day, the people interviewing you are the people you're likely to be working with. They generally want sociable and interesting people to be spending their 12hr+ working days with, not just robots with HDs.

 

[leoyh]

so who was at morgan stanley today?

 

[sf_diegoxrock]

I know of at least one guy who got into MacCap (well it was IBD back then) with a credit average. Great extracurriculars though, and just all around top bloke.

No matter how great your marks or extracuricculars/how good you look on paper, if you're someone who can't hold a decent conversation in person, you're gunna struggle to get through. End of the day, the people interviewing you are the people you're likely to be working with. They generally want sociable and interesting people to be spending their 12hr+ working days with, not just robots with HDs.

QFT.