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noexpert
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Posts: 117
Joined: April 27th, 2007, 2:20 pm

How to find an internship ? Is it too late ?(IVY phd)

April 27th, 2007, 5:33 pm

Hi all,I am new to this forum. I am doing my phd in engineering from an ivy league school. I dont have any formal degree in finance but I have a very strong mathematical background and I am really interested in finance. Recently I realized that I should do an internship just to get an idea of this industry. It seems that I am very late but I was wondering if people here can give me some ideas on how to get a good internship in NY.Let me know what you guys think. Any help will be greatly appreciated !
 
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KackToodles
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Joined: August 28th, 2005, 10:46 pm

How to find an internship ? Is it too late ?(IVY phd)

April 27th, 2007, 7:22 pm

think about it this way: if you start now, you are an early bird for next year!
 
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noexpert
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Posts: 117
Joined: April 27th, 2007, 2:20 pm

How to find an internship ? Is it too late ?(IVY phd)

April 27th, 2007, 8:20 pm

Thanks KackToodles, but I want to try it this summer only ! Do headhunters help getting internships? If yes, where/how to find these HH's.
 
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spaceinvader
Posts: 151
Joined: October 7th, 2006, 5:58 pm

How to find an internship ? Is it too late ?(IVY phd)

April 27th, 2007, 8:32 pm

Talk to alums in the industry. Try CS, i think their program is still open. Bonne chance
 
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noexpert
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Posts: 117
Joined: April 27th, 2007, 2:20 pm

How to find an internship ? Is it too late ?(IVY phd)

April 27th, 2007, 8:54 pm

Thanks spaceinvader! I looked up theri website. It seems that they dont have anything left for US (Am I correct?) Can you suggest me how to find positions in CS apart from talking to alums. thanks again
 
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spaceinvader
Posts: 151
Joined: October 7th, 2006, 5:58 pm

How to find an internship ? Is it too late ?(IVY phd)

April 27th, 2007, 9:02 pm

wish i knew, sorry matebonne chance
 
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TraderJoe
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Joined: February 1st, 2005, 11:21 pm

How to find an internship ? Is it too late ?(IVY phd)

April 27th, 2007, 9:32 pm

QuoteOriginally posted by: noexpertThanks KackToodles, but I want to try it this summer only ! Do headhunters help getting internships? If yes, where/how to find these HH's.DCFC aka Dom?
 
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noexpert
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Posts: 117
Joined: April 27th, 2007, 2:20 pm

How to find an internship ? Is it too late ?(IVY phd)

April 28th, 2007, 12:23 am

Thanks Traderjoe. I have mailed DCFC. Lets see how it goes !
 
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meteor
Posts: 321
Joined: September 22nd, 2004, 5:20 pm

How to find an internship ? Is it too late ?(IVY phd)

April 28th, 2007, 6:22 pm

You can forget about all the major banks, the selection started in january/february and the offer have been made by march or so.The only two options are: second tier banks and hedge funds.Given that it is hard to get any information about hedge funds you could try the second tier banks.So in other words, unless you have any contact in the industry your chances are slim and none. Instead of wasting your time, energy and motivation on that you should focus on your research.
 
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noexpert
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Posts: 117
Joined: April 27th, 2007, 2:20 pm

How to find an internship ? Is it too late ?(IVY phd)

April 28th, 2007, 7:36 pm

Meteor, I completely agree with your comments. However, I was wondering people here might know something about hedge funds. I was hoping for their advice/comment. Well I can always give up but its just that I want to try a bit before I give up. I am still waiting for a reply from DCFC.
 
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N
Posts: 2808
Joined: May 9th, 2003, 8:26 pm

How to find an internship ? Is it too late ?(IVY phd)

April 28th, 2007, 8:40 pm

QuoteOriginally posted by: noexpertMeteor, I completely agree with your comments. However, I was wondering people here might know something about hedge funds. I was hoping for their advice/comment. Well I can always give up but its just that I want to try a bit before I give up. I am still waiting for a reply from DCFC.noexpert,I hate to bust your bubble, but a PhD in engineering from an Ivy ain't worth shit in finance. If you were getting a PhD from MIT, that might be a different story.Once you get your PhD, you'll need to get your MS in financial engineering before anyone seriously looks at you - like it or not, that's the way it is.n
 
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veeruthakur
Posts: 210
Joined: January 8th, 2007, 4:51 am

How to find an internship ? Is it too late ?(IVY phd)

April 28th, 2007, 9:12 pm

QuoteOriginally posted by: NQuoteOriginally posted by: noexpertMeteor, I completely agree with your comments. However, I was wondering people here might know something about hedge funds. I was hoping for their advice/comment. Well I can always give up but its just that I want to try a bit before I give up. I am still waiting for a reply from DCFC.noexpert,I hate to bust your bubble, but a PhD in engineering from an Ivy ain't worth shit in finance. If you were getting a PhD from MIT, that might be a different story.Once you get your PhD, you'll need to get your MS in financial engineering before anyone seriously looks at you - like it or not, that's the way it is.nAn ivy phd will certainly add some weight , though you need to prepare very well for the interviews (give at least a month's time if you are starting from scratch). It is possible to get an internship at some hedge fund in fall (I am doing one). However, I had applied way early, in january. If they like you enough, they usually are flexible.
 
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meteor
Posts: 321
Joined: September 22nd, 2004, 5:20 pm

How to find an internship ? Is it too late ?(IVY phd)

April 28th, 2007, 9:21 pm

QuoteOriginally posted by: noexpertMeteor, I completely agree with your comments. However, I was wondering people here might know something about hedge funds. I was hoping for their advice/comment. Well I can always give up but its just that I want to try a bit before I give up. I am still waiting for a reply from DCFC.My point was to be realistic about the situation and not giving you false hope...but of course if you want to hope and then feel bad because you don't find an internship feel free to do so.In your case, the problem with the hedge fund is basically due the nature of their business, ie using proprietary knowledge/model which means that: one, people working in these companies will not be keen to comments about their business; two, they usually don't hire people for internship (unless there is a good probability that they are able to convert the internee into a full time employ straight after the internship)
 
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noexpert
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Posts: 117
Joined: April 27th, 2007, 2:20 pm

How to find an internship ? Is it too late ?(IVY phd)

April 28th, 2007, 10:00 pm

Thanks guys for your comments ! Veeruthakur ! Do you mind if I pm you and ask for some advice on how to prepare for the interview? I dont mind if I dont get an internship but I really want to be ready for interview when I start job hunting this fall.
Last edited by noexpert on April 28th, 2007, 10:00 pm, edited 1 time in total.
 
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HyperGeometric
Posts: 314
Joined: March 27th, 2004, 4:13 am

How to find an internship ? Is it too late ?(IVY phd)

April 28th, 2007, 10:03 pm

Quotenoexpert,I hate to bust your bubble, but a PhD in engineering from an Ivy ain't worth shit in finance. If you were getting a PhD from MIT, that might be a different story.Once you get your PhD, you'll need to get your MS in financial engineering before anyone seriously looks at you - like it or not, that's the way it is.nLooking at the placement stats of PhDs in ORFE (i.e. Engineering) at Princeton, several people have done very well for themselves in Finance/Wall St. Assuming "N" was only referring to other engineering programs, It's hard to accept (in fact even think) that engineers from ivy leagues aren't worth much in Finance considering there are tons of them with big positions on Wall St.Of course, adding the no. of engineers from ivy leagues on Wall St vs number of engineers from MIT on Wall St, it's not hard to imagine that former would have more people than latter (8 vs 1)....just stating facts.Coming back to the original post, there isn't much academic value associated with MS in Financial Engineering programs. Although it's true that several people go for them after their PhD, it's equally true that several of them have taken positions in quant finance without them and will continue to do so. Just take a few courses in finance at your uni during your PhD and that should be fine. Speak to the people/alumni in your department or professors in your uni interested in quant finance. They'll give u a good idea on what to expect at this time. It's slightly late for this summer but if u try hard, you can get something (may be at a small fund or even a large bank). If you're done generals, try for internship during fall. It's not late for that at all.
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