If your summer internship is not the right long-term fit and you plan to explore other opportunities, make sure to complete the following steps during the summer to prepare for full-time recruiting:

• Network, Network, Then Network Some More – networking is the BEST way to stay in the know about opportunities and to be seriously considered for them
  • Set up coffee chats or zooms with people at other firms to discuss your interest in other full-time roles
  • They may know you have a current internship or full-time offer, but making genuine connections early will enable access to full-time opportunities if and when they arise
  • On all calls, ask “Is your team planning to hire full-time laterals or grads?”
  • By speaking with 1-2 groups per week,t your network will span across 10-20+ different organizations before full-time recruiting even starts
    
• Keep a Record of Your Work (if possible) – within the realm of permissibility per company policy and privacy, keep work samples that demonstrates your new skills
  • Though full-time hiring processes will not require presentation of prior work, some may include case studies where referencing prior work can be valuable
    
• Stay Current on Interview Prep – full-time job opportunities come with challenging interview processes and higher expectations compared to internship interviews
  • Behaviorals – craft a story for your full-time search process
  • Technicals – ensure understanding of challenging technical concepts
    
• Sign Up for Any / All Job Boards – expand your visibility into full-time opportunities that may not be directly shared through your existing network via:
  • LinkedIn
  • Workday
  • Investment Bank Career Pages
  • Other recruiting agencies

Is it Difficult to Land a Full-Time Job at Another Firm?

If strategic, landing a role at a bank different from your internship is possible, despite the process being about as challenging as getting an internship.

• Hiring Process – While most investment banks aim to convert most of their summer interns to full-time analysts, hiring decisions are performance-based,  meaning not all interns receive offers and banks may still need to hire
  • Staying in touch with your network is critical. They will be the ones to directly contact you if spots open
  • Full-time recruiting usually begins at the end of July or early August— as soon as banks know their capacity for full-time hiring
• Have a Plan B – Unfortunately, there are not infinite jobs in IB; however, there are great alternatives which can facilitate lateral hiring into investment banking within 6-12 months if you were unable to secure a role in IB
  • Corporate / Commercial Banking
  • Transaction Advisory (usually at a consulting firm)
  • Valuation Advisory / Audit
  • Big 4 M&A
  • Consulting

Summary and Key Takeaways

After receiving an internship offer, exploring full-time roles is strategic  – plan your next career move after graduation

• Network: network, network, network – this is the best path to a job offer
• Navigating Full-Time Recruiting: the hiring process is similar to internship recruitment and begins with your network… and it starts now (even before day one of your internship)
• “Plan Bs: consider opportunities that can serve as stepping stones to a career in investment banking should you not land your dream role on the first try