Ryan Shumway is a Finance major and graduating in May 2018. This summer, Ryan interned at Jefferies as their Investment Banking Summer Analyst in New York. For this internship, Ryan was able to live at the NYU Dorms with other students.
How did you land this internship? Getting this internship was a long but pretty simple story of networking. Since my sophomore year I had been sending out cold emails and meeting with people in the industry, trying to get a feel for it. From those early conversations, I figured out that I wanted to work at a smaller bank, not necessarily the large bulge bracket firms. So, last summer, I focused a more on networking with those bankers. This included several people at Jefferies, who I was lucky enough to have taken an active interest in me and push me through to the interview process that Fall.
What was your favorite part of the experience? I really enjoyed working with my fellow interns and the full-time junior bankers. Since we were all in the trench together, we became very close and made the day-to-day work enjoyable. This is also what makes me so excited to start full-time next Summer!
What advice do you have for other students looking for a similar internship? Start networking, like, yesterday. The U of A is a great school, but unfortunately the investment banking internships available through on-campus opportunities are few. So, you have to go out there and create opportunity for yourself. Start learning about the industry on your own, and supplement that with conversations with people actually in the industry. These informational interviews lead to continuing relationships, and besides being interesting and insightful are a great way to position yourself well for future interviews and job opportunities.
How did Eller prepare you for your internship? The PDC is an incredibly valuable resource that all Eller students would be insane to not take advantage of. We have terrific career coaches here, several of whom helped me in my early days of exploring career opportunities as well as preparing me for the internship itself (and while I don’t wish to exclude any of the many who helped me, I do want to give a special nod to Jeff Welter, who focuses on students pursuing careers on Wall Street). My advice to everyone, not just those in the finance major, is to reach out to your career coach and build a relationship with them if you haven’t already.