I did M&A at a well known IB, I speak with first hand knowledge. I wonder if you have done a banking internship yet? It doesn't sound like it, because if you did, you would know how the work interns actually do differs from all of the qualifications that you mention. I have no doubt most of your classmates are exceptionally bright and hard working, that describes most kids entering banking out of college.
Reread my comment, I could take a kid with a "good attitude and train them to be a good summer intern in an afternoon." In fact, I have actually done that. Let's define what I mean by "good." Week 1: a good summer intern needs to know how to make PIBs, bind books, spread comps, use Google, learn from mistakes, and most importantly, know when to ask questions. Of course, as they get real experience and prove themselves, they get more responsibility -- just like with any other job. For example, I've had superstar interns building merger models for live deals after a couple months.
Knowing the "basics" (Excel, Bloomberg/FDS/CIQ, etc) isn't that important on Day 1 since they'll learn those things. I mentioned STEM students, in particular, because they can usually speed up the learning curve.
And remember, I'm talking about banking. Trading is a whole different animal.
Reread my comment, I could take a kid with a "good attitude and train them to be a good summer intern in an afternoon." In fact, I have actually done that. Let's define what I mean by "good." Week 1: a good summer intern needs to know how to make PIBs, bind books, spread comps, use Google, learn from mistakes, and most importantly, know when to ask questions. Of course, as they get real experience and prove themselves, they get more responsibility -- just like with any other job. For example, I've had superstar interns building merger models for live deals after a couple months.
Knowing the "basics" (Excel, Bloomberg/FDS/CIQ, etc) isn't that important on Day 1 since they'll learn those things. I mentioned STEM students, in particular, because they can usually speed up the learning curve.
And remember, I'm talking about banking. Trading is a whole different animal.