Investment Banking Forum

[thesealocust]

OP here, did not mean for this thread to turn into a bloodbath, but I'm not surprised that it did. Anyway, the specfic bank is Credit Suisse, so only T6 students have a shot at these IB associate internships?

It's not rigidly T6, but it certainly gets less common as you look down the ranks and away from the north east. Goldman did interviews at my lowly T10 back in the depths of the recession, but there weren't many other banks.

If you finish your first year of law school and awake from the fever-dream realizing excel is your muse and not westlaw, then you can apply for banking jobs even if they're not coming to your OCI. It will be a struggle, but if you're at a good school with a coherent background story and acceptable credentials you'll have a chance. The same goes for management consulting gigs.

[Anonymous User]

OP here, did not mean for this thread to turn into a bloodbath, but I'm not surprised that it did. Anyway, the specfic bank is Credit Suisse, so only T6 students have a shot at these IB associate internships?

No, but everyone who has never done anything related to this will say yes b/c BIGLAW 4 LYFE #HSY.

Anyway, if you have good grades and a background to support it (former IB, consulting, PEG, VC, etc. experience) maybe an MBA or you are a JD/MBA, or you went to a top business UG, then you have a shot. Sure, if you go to a t6 you have a better shot, but it's not the death knell if you don't. I am at a T25 and had an 1L internship offer at a IB/PEG but opted for corporate internship with Fortune 10 company in their in-house PEG/VC group, still landed a 2L SA in BigLaw at my reach firm, in my target market - didn't have any issues during OCI. Just take what you want to do, you can mix things up later on.

also this:

OP here, did not mean for this thread to turn into a bloodbath, but I'm not surprised that it did. Anyway, the specfic bank is Credit Suisse, so only T6 students have a shot at these IB associate internships?

It's not rigidly T6, but it certainly gets less common as you look down the ranks and away from the north east. Goldman did interviews at my lowly T10 back in the depths of the recession, but there weren't many other banks.

If you finish your first year of law school and awake from the fever-dream realizing excel is your muse and not westlaw, then you can apply for banking jobs even if they're not coming to your OCI. It will be a struggle, but if you're at a good school with a coherent background story and acceptable credentials you'll have a chance. The same goes for management consulting gigs.

[PMan99]

OP here, did not mean for this thread to turn into a bloodbath, but I'm not surprised that it did. Anyway, the specfic bank is Credit Suisse, so only T6 students have a shot at these IB associate internships?

No, but everyone who has never done anything related to this will say yes b/c BIGLAW 4 LYFE #HSY.

Anyway, if you have good grades and a background to support it (former IB, consulting, PEG, VC, etc. experience) maybe an MBA or you are a JD/MBA, or you went to a top business UG, then you have a shot. Sure, if you go to a t6 you have a better shot, but it's not the death knell if you don't. I am at a T25 and had an 1L internship offer at a IB/PEG but opted for corporate internship with Fortune 10 company in their in-house PEG/VC group, still landed a 2L SA in BigLaw at my reach firm, in my target market - didn't have any issues during OCI. Just take what you want to do, you can mix things up later on.

also this:

OP here, did not mean for this thread to turn into a bloodbath, but I'm not surprised that it did. Anyway, the specfic bank is Credit Suisse, so only T6 students have a shot at these IB associate internships?

It's not rigidly T6, but it certainly gets less common as you look down the ranks and away from the north east. Goldman did interviews at my lowly T10 back in the depths of the recession, but there weren't many other banks.

If you finish your first year of law school and awake from the fever-dream realizing excel is your muse and not westlaw, then you can apply for banking jobs even if they're not coming to your OCI. It will be a struggle, but if you're at a good school with a coherent background story and acceptable credentials you'll have a chance. The same goes for management consulting gigs.

I even know a couple K-JDs who went straight into top IB/MC.

Just an note for future people reading these threads: understand that biglaw interviews are unique. They're completely non-substantive and it's based off of whether one socially maladjusted person likes another socially maladjusted person and if you hit a grade cutoff. If you want to have a shot at IB/MC you need to know your stuff cold - depending on the interview, being able to read a balance sheet, do a case interview (knowing frameworks), not melt during a brainteaser, be able to do 8th grade math in your head, etc. Otherwise you're just wasting everyone's time.

[chingwoo]

OP here, did not mean for this thread to turn into a bloodbath, but I'm not surprised that it did. Anyway, the specfic bank is Credit Suisse, so only T6 students have a shot at these IB associate internships?

Application for that is done.

[JamMasterJ]

Getting a business job at a PE firm straight from law school or a biglaw gig is basically impossible. Of course this is TLS though, so if you say zero chance the thread will get derailed for a few pages as edge cases get argued.

So you're saying there's a chance???

[JenDarby]

I work at an investment bank and even the JD > biglaw > MBA > IB are kinda the pariahs of the FO.

[Mack.Hambleton]

I work at an investment bank and even the JD > biglaw > MBA > IB are kinda the pariahs of the FO.

Why

[thesealocust]

I work at an investment bank and even the JD > biglaw > MBA > IB are kinda the pariahs of the FO.

Why

I've never worked at a bank, but I've had clients from a bank that used to be lawyers. They were often... special. It's not surprising to hear that hey were the pariahs of the FO. Curious to hear exactly what JenDarby means though.

[JenDarby]

I work at an investment bank and even the JD > biglaw > MBA > IB are kinda the pariahs of the FO.

Why

I've never worked at a bank, but I've had clients from a bank that used to be lawyers. They were often... special. It's not surprising to hear that hey were the pariahs of the FO. Curious to hear exactly what JenDarby means though.

Its a mixture of things, but IME they tend to hold themselves out as bankers AND lawyers which makes them obnoxious to both groups. Plus for the most part people who go to law school have a different career/educational history than people that go to B school which produces a very different end result. The ex-lawyer bankers are definitely the most aspie bankers I have encountered.

One ex big law banker recently said (truly exactly this): "I don't think you understand, I'm very very VERY smart" as he was arguing about a legal point with one of our more senior lawyers. tbf he leads the pack of aspie pariah bankers though.

[Mack.Hambleton]

^lol makes sense

[Anonymous User]

I'm a 2L summer summering at an MBB consulting firm. Happy to answer a few questions, including about application process.

[Mack.Hambleton]

I'm a 2L summer summering at an MBB consulting firm. Happy to answer a few questions, including about application process.

what school rank? prior business experience? are the offer rates 100%? are you splitting the summer?

[Anonymous User]

what school rank? prior business experience? are the offer rates 100%? are you splitting the summer?

Sorry for the ridiculously late reply. There's not a ton of jd's at MBB this summer, so I want to be a little general here but still give enough useful info.

School rank: T6

Offer rates 100%: To my knowledge, they're almost at 100%. The "almost" is because there's usually a couple each summer from what I hear that don't get it, but that's more because there's just a fit problem or something is off. It is still your offer to lose, but you do actually have to do work during the summer - that's not true for most law firms. If you expect 3 hour lunches every day and to just surf the web, it's not the place for that.

Splitting the summer - Again don't want to say my situation specifically, but as far as I know about half the jds are splitting with a law firm and half aren't. It's very much supported and encouraged by MBB though, and law firms don't have a problem with it. It's just about making the timing work (need to commit at least 8 weeks to each from what I understand) - can make for a long summer.