investment banking undergraduate internships
What is an investment banking internship?
An investment banking internship is a great way to explore the industry and get hands-on experience that can help you decide if this is the right career path for you. There are many different types of internships, some paid and others unpaid, but all are designed to give students exposure to many aspects of investment banking. Some companies offer full-time internships while others offer part-time options; both provide valuable learning opportunities.
What do you do as an investment banking intern?
As an investment banking intern, you will be given a lot of responsibility and autonomy. You’ll be working on real deals, and the people you’re working with will expect you to know what you’re doing.
It’s best to think of this internship as an opportunity to learn what the job is really like. You’ll get a taste of how real deals get done in the industry, which can give you a clearer picture of whether or not it’s right for you before taking on more permanent employment after graduation. If possible, try doing some reading about investment banking beforehand so that when your manager assigns tasks or asks questions about specific industries or companies within them (this is likely), it won’t come as too much of a surprise!
Why do people pursue an investment banking internship?
- While you can gain valuable experience in other areas of finance, an investment banking internship gives you the opportunity to work directly with professionals who are part of one of the most prestigious industries.
- An investment banking internship allows you to network with influential people within your field and learn about their careers, as well as how they got where they are today.
- This industry is so large that there are many different career paths available; an internship will give you a chance to explore these options and figure out which ones interest you most.
How long do investment banking internships last?
Investment banking internship programs are typically 10 weeks in duration, but some can be 6 weeks or 12 weeks.
Some internships are offered year-round, which means you can start at any time of the year—and some may have a cutoff date for new applications. You may also find investment banking internships that run for multiple sessions throughout the year (e.g., one in summer and another in winter).
Internship programs can be customized to meet your needs—for example, if you don’t have much work experience yet but would like an opportunity to gain some before applying for full-time positions later on, many firms offer a “pre-MBA” program where they’ll hire you as an intern while they’re training you as part of their own recruiting efforts!
Are investment banking internships paid?
The short answer is yes, investment banking internships are paid. The longer answer is that there are many factors that go into determining how much you will get paid, and these can vary depending on the job and your experience level. In general, though, it’s worth noting that this is a competitive market with high demand for skilled workers so the pay tends to be decent (but not great).
Investment banking internships will typically pay between $15-$25 per hour during their first year out of college—which adds up to around $30k-$50k annually for full time work. During their second year out of school and beyond, salaries rise significantly due to increased experience levels with top tier firms paying upwards of $125k annually for full-time positions in New York City alone!
What kind of hours can you expect during your investment banking internship?
Investment banking interns will be expected to work long hours. This can mean working 100-120 hours per week during the summer and school year, as well as weekends and nights when it’s necessary. Interns may also be asked to come in early or stay late if their team needs them for an important project or meeting. In addition, interns may need to take vacation days off from school during Thanksgiving and Christmas breaks because these are prime times for firms to hire full-time employees from their intern pool.
How can I find an investment banking internship?
There are a number of ways you can find an investment banking internship, but the most effective way is to apply directly through the organization. You can do this by researching investment banks and contacting them directly.
If you’re unable to secure an internship this way, there are other options: applying for a program that matches you to an internship with a financial firm, networking and meeting people in the industry who may be able to help you get one of these positions, attending recruiting events hosted by companies like JPMorgan Chase & Co., Goldman Sachs Group Inc., BlackRock Inc., or Morgan Stanley & Co., utilizing career websites such as LinkedIn (which list over 500 different jobs for students interested in working on Wall Street), and attending campus job fairs provided by different universities across America
Investment banking internships are a great opportunity to gain experience in finance.
Investment banking internships give you a chance to gain valuable experience in the world of finance. Most banks require interns to be at least 19 years old, but there are some exceptions. Banks often provide interns with training on their own systems and workflows, so it’s important for you to understand how these programs work before applying for an investment banking internship.
In addition to learning about various operations at your bank, you’ll also have the opportunity to make connections with other employees who can help further your career in finance. Many people use investment banking internships as stepping stones towards pursuing full-time roles within investment banks after graduating college or university.