Key facts
- Xavier Sztejnberg's Wall Street for McCombs Leadership Program has helped hundreds of students secure internships.
- The program has a rigorous admissions process with nearly 500 applications for 75 spots.
- Students focus on formal training, one-on-one coaching, and mentorship from an alumni board.
- Internship interviews for junior summer positions now begin in November of sophomore year.
- The program has a nearly 100% return-offer rate for summer internships.
- The program emphasizes cultural fit when placing students at investment banks.
Xavier Sztejnberg, a finance professor at the University of Texas at Austin's McCombs School of Business, has established a successful leadership program aimed at placing students in Wall Street internships. The 'Wall Street for McCombs' program, founded in 2016, has evolved from sending fewer than 10 students to New York for investment banking internships to helping around 150 students secure positions at over 50 banks for the summer of 2027. Sztejnberg emphasizes that the program is focused on leadership development rather than just internship training, seeking students who will become successful and contributing alumni.
The program's admissions process is highly competitive, with approximately 500 applications received for only 75 spots each year. Applicants undergo resume drafting, essay writing, and two rounds of interviews. The training itself centers on three key areas: formal instruction, individualized coaching, and mentorship from an engaged alumni board. This comprehensive approach prepares students for the demanding recruitment cycle, which now begins as early as November of a student's sophomore year.
Sztejnberg's program also focuses on helping students secure return offers after their summer internships by coaching them on fundamental and technical skills, including model building and client interaction through a banking simulation. The program's success is bolstered by strong relationships with investment banks, with an emphasis on cultural fit to ensure students thrive in their roles. The alumni network plays a crucial role, with members actively mentoring students and prioritizing the hiring of UT Austin graduates, creating a positive feedback loop that strengthens the university's presence in finance.