Summer Internships (1 Viewer)

[ks21]

What kindof marks, plus experience do you need to get interviews for summer internships for the big banks (say, in either investment banking, equities, or actuarial roles). Also, does it make a difference if your doing straight commerce, or a double degree (or honours)?

 

[turtleface]

RE: the double (undergraduate) degree vs. single (undergraduate) degree vs. honours:

I've only ever had 1 confirmation regarding this, which was from a Commsec (Commonwealth Securities) Director at a talk he gave to an economics lecture.

He basically said that out of a list of the 8 important things he looks for in new staff (in order of importance), no. 6 in importance was what their degree/s they had.

Basically he said Honours > Double > Single

However his no.1 important thing was marks. So he said, any single degree person with higher marks than people with double degrees would get the job (ceteris paribus), according to him.

 

[:: ck ::]

i'd say D's .. 80+ preferred... and show u have work experience.. preferably in the financial industry as that is a bonus, as well as knowledge of what exactly is going on in the world

 

[Giant Lobster]

honours > double > single - more or less true

however: marks mean shit in the real world. Work experience / extracurricular activities / anything that makes you SPECIAL will definitely get you the interview

Confidence and rapport building in the interview will get you the position

besides, whats stopping an undergrad from lying about his marks? employers know this so they generally devalue marks, so really, marks mean shit.

 

[Omnidragon]

Depends what you're applying for. Since you have a Macq pic, I would say lying about your marks wouldn't cut for Macq.

Finally, the 'passes gets degrees' advice can be very misleading. I don't know what your motive is.

 

[ND]

besides, whats stopping an undergrad from lying about his marks? employers know this so they generally devalue marks, so really, marks mean shit.

Huh? Are you planning on forging an academic transcript or something?

 

[Giant Lobster]

Its a given that you can't forge the authentic academic transcript but for summer internships and undergrad part time roles they never ask you for your marks throughout the whole application process anyway. Merely mentioning your marks on ur resume is enough.

thats what I found through my experiences with many firms, big or small

(Actually out of all the firms I've been through, only one asked me for proof of my marks and it was some dodgy small immigration law firm)

I mean, what are the options anyway? You could either print off your marks off your uni site (my.unsw for example) which is easily forge-able. OR you could request the uni give you an authentic one, which costs $20 and takes two weeks - highly impractical

Employers understand the process of getting the authentic transcript, and they know asking you for an internet print-out is easily forgeable so they just don't bother asking for your marks if you havent already mentioned them on ur resume.

 

[ks21]

Btw, do you guys think its better to apply like a month or two before deadline, or wait for my session 1 results, because I've heard some places have early screening.

 

[ND]

Its a given that you can't forge the authentic academic transcript but for summer internships and undergrad part time roles they never ask you for your marks throughout the whole application process anyway. Merely mentioning your marks on ur resume is enough.

thats what I found through my experiences with many firms, big or small

(Actually out of all the firms I've been through, only one asked me for proof of my marks and it was some dodgy small immigration law firm)

I mean, what are the options anyway? You could either print off your marks off your uni site (my.unsw for example) which is easily forge-able. OR you could request the uni give you an authentic one, which costs $20 and takes two weeks - highly impractical

Employers understand the process of getting the authentic transcript, and they know asking you for an internet print-out is easily forgeable so they just don't bother asking for your marks if you havent already mentioned them on ur resume.

Every application i've submitted asked for an academic transcript (or it asked you to input all of your marks and bring an official academic transcript to the interview).

I don't see how paying $20 and waiting a couple of weeks is impractical (afterall you can get an urgent printout for about $10 extra).

It would be pretty dodgy for a firm to give out an offer without having seen an academic transcript.

 

[ND]

Btw, do you guys think its better to apply like a month or two before deadline, or wait for my session 1 results, because I've heard some places have early screening.

Unless the actual offer is given out before you get your sem1 results, they will usually ask you for them anyway (later on in the recruitment process).

 

[:: ck ::]

Its a given that you can't forge the authentic academic transcript but for summer internships and undergrad part time roles they never ask you for your marks throughout the whole application process anyway. Merely mentioning your marks on ur resume is enough.

thats what I found through my experiences with many firms, big or small

(Actually out of all the firms I've been through, only one asked me for proof of my marks and it was some dodgy small immigration law firm)

I mean, what are the options anyway? You could either print off your marks off your uni site (my.unsw for example) which is easily forge-able. OR you could request the uni give you an authentic one, which costs $20 and takes two weeks - highly impractical

Employers understand the process of getting the authentic transcript, and they know asking you for an internet print-out is easily forgeable so they just don't bother asking for your marks if you havent already mentioned them on ur resume.

yep they never asked me for my transcript in my internship last yr... perhaps its because me and you applied for stuff after first yr?

i think in later yrs when u do more 'important' things the transcript will be more important...

 

[Omnidragon]

Every application i've submitted asked for an academic transcript (or it asked you to input all of your marks and bring an official academic transcript to the interview).

I don't see how paying $20 and waiting a couple of weeks is impractical (afterall you can get an urgent printout for about $10 extra).

It would be pretty dodgy for a firm to give out an offer without having seen an academic transcript.

Same here... I've been asked for transcripts at the few big firms I've went for, and they apparently do a background check after an offer is made.

These firms include Macquarie Bank's IBD, for lobster's interest. You're not trying to steer people into lying so you can one-up them at the Macquarie interviews, are you

 

[§eraphim]

Yes, when I worked they outsourced the background check to some company that looks up ur results and all ur employer references.

 

[turtleface]

Sometimes they say they will check ur real transcipt at the interview, but don't. However, by saying they will, they deter cheaters. Incase you do lie, and then are found out, not only are you gone for that job, they blacklist you across the industry I think, cause I hear the HR ppl have their own agreement

sorry too many commas. ,,,,,

 

[ND]

They (usually) only tell you to bring it in when they call you up to invite you for an interview. Why would they not ask for one - they have nothing to lose and alot to gain.

 

[turtleface]

I dunno about the firms you guys apply at, but at the firm I'm at upon starting as grad they do a full check with the AFP, and they also check directly with the university qualification service RE: grades. Even transcripts are forgable (?sp).

 

[Giant Lobster]

Ahh so they do check
I stand corrected

But from my personal experiences, they don't check. I think its cos I'm still in second year at the moment, so they figure there wont be much on the transcript anyway

Curiously, what are these services available to HR which allows them to check your marks directly? Seems like a blatant breach of privacy laws bordering on unconstitutional...

 

[sikeveo]

lol at omnidragons sig

 

[redruM]

I wasn't asked for an official transcript when I got my offer. I only gave them an "online printout"....Actually, I gave them a copy that I had personally typed up.

I don't know whether they checked with uni...but they never explicitly asked me for the official transcript.

(I'm 99% sure of this...There were too many interviews, etc. so I might have forgotten)

 

[Omnidragon]

lol at omnidragons sig

thank you. i take pride in my trophies