Landing investment banking jobs is tough, so UD business student Isaac Grude started a club to help his classmates gain experiential learning and networking opportunities, as well that one step ahead of the competition.
Grude founded the Dayton Investment Banking Club with his peers when they noticed that UD students were not landing internships and jobs in their field at rates comparable to students from similar schools. He learned that beyond academics, they need to know how to get their foot in the door.
“It’s hard to go against schools that have investment banks recruiting on campus,” Grude said. “I was really eye-opening when I went through the process myself. It’s competitive and a bit of a secret unless you’re in contact with people who can teach you how to navigate it.”
A 2021 CNBC Article confirmed candidates face a highly competitive environment for investment banking positions. Goldman Sachs saw a 50% increase in applications and JPMorgan Chase & Co. received 500,000 applications for 400 internships.
Students learn networking and other professional skills in a 14-week bootcamp, concluded with a fictional investment pitch case study presented at ArkMalibu. Based on their performance throughout boot camp and case studies, students have the option of interning with Carleton McKenna and Co.
All seven sophomores in the fall 2022 recruiting cycle have secured internships for summer 2023. Placements include Bank of America, Lincoln International, BMO Capital Markets, Browns Gibbons Lang & Co., and BellMark Partners.
Grude is interning with Robert W. Baird in Chicago as a summer investment banking analyst and will graduate in the spring of 2023.
“They are very hard working, thorough, humble in their pursuit of knowledge and eager to learn,” said Andrew Lease, a partner at Carleton McKenna and Co. who supervised the students’ work. “They won’t shy away from receiving constructive feedback, which is essential to becoming a successful young professional.”