If you’re looking to work in investment banking after you graduate, doing an internship can increase your chances of getting a good job by over 50%. In fact, some investment banks don’t even offer you the option of working with them if you’ve never done an internship before.
What is an investment bank?
Investment banks are financial institutions that help businesses, organizations, and individuals raise capital by acting as an agent for the client and also providing securities. They are also involved in mergers and acquisitions. The working structure in an investment bank is as follows; new college graduates are accepted as analysts and graduate students work as associates, as you advance in a business or bank you become a junior employee and a senior associate, but it takes a lot of time, effort and of sacrifices. to the company.
The investment banking industry is very attractive and therefore very competitive. Getting a job in an investment bank as an analyst or partner is very difficult due to the fierce competition. You can be assured that thousands of people like you are applying for internships at several top investment banks.
This article will focus on why a person wishing to work in an investment bank should do an internship program in an investment bank, as well as how to do an internship in an investment bank, and finally ; Tips for a successful internship.
The importance of obtaining an internship in an investment bank
An internship in an investment bank is more vigorous investment training over a generally extended period of time. from 7 weeks to 12 weeks. The main objective is to make the person feel the burden of working in an investment bank. Most companies add self-motivation and project management training as part of their practice.
a. You build a network -: Never Underestimate the Power of Knowing the Right People in the Right Places – While doing your internship at a leading investment banking firm, you can meet many great people in the industry. You can build a strong network of friends and mentors to advance your career in investment banking during your internship.
b. Increase your chances of getting a job -: As I mentioned earlier in this article, finding a job in an internship company is very difficult due to the fierce competition, which is the only way to stand out and increase your chances of getting a job. Work in an investment bank, complete an internship in a leading investment bank. Since you are studying how an investment bank works, employers will choose to hire you based on your experience, especially if the investment bank you interned with is the best.
vs. You can be hired as an analyst or employee -: some people do internships as students; Depending on how you worked during your internship, it is possible that a company or a bank will retain you after you graduate.
9 steps to get an investment banking internship
Fewer than 20,000 investment banking positions are available globally each year and over 500,000 applicants apply for the program. Position. You can see this to break into or get a place in an investment bank; You have to go the extra mile to set yourself apart from other applicants, and the best way to do this is to do an internship with one of the top investment banks. As such, you should look for ways to make your application outstanding in order to be easily accepted into the internship program. Here are some steps to follow to obtain an internship in the investment bank of your choice:
- Aim for a higher GPA: from the moment you go to college, you must make up your mind to study hard in order to have a very high GPA. This is because most investment banks select students with very high marks for their internship programs.
- Confirm your interest in finance: You can quickly grab a company’s attention by showing that you have a genuine interest in finance – whether that’s by joining finance clubs or doing internships with other finance companies.
- Visit the career office on campus … Investment bankers often visit colleges to recruit students for internships. Therefore, be sure to visit your campus career office regularly for advice and guidance on how to select yourself for an internship program.
- Talk to other students: talk to other students, especially seniors who have already completed such internship programs. Some of them will also be able to help you access your own internship offer.
- Net : you cannot undermine the role of the network in providing internships in the investment banking industry. In fact, the more connections you make, the better your chances are. Therefore, you should take every networking opportunity, such as attending events organized by companies of your interest. These activities can be information sessions, customer forums, campus contests, etc.
- Shadow employees … Another strategy that can help you is to spy on full-time employees. Talk to one or two of them about their spying while they work for at least a few days. You might gain some experience that will come in handy when you are finally interviewed for an internship opportunity.
- Share your CV: Sometimes you have to take aggressive approaches to make sure you get the internship of your dreams. Don’t wait for him to come for you. Instead, follow him. Create a brilliantly written resume and distribute it to as many investment banks as possible. You might end up receiving an invitation to an interview with some of them who might want to offer you an internship opportunity. It will work even better for you if you have an attractive GPA.
- Prepare well for the interviews. As stated earlier, it is very competitive. And when you get an interview invitation, you have to be prepared to beat the others. Most investment banks typically conduct multi-stage interviews with behavioral assessments, aptitude tests, and other skill tests. There are many resources on the Internet to help you prepare and grow through investment banking interviews.
- Target internship periods … Investment banks typically offer internship programs at specific times of the year. During the spring weeks, they offer weekly internship programs to first year students. And during the summer, they run internship programs for sophomores. If you plan to start a career in investment banking after graduation, it is recommended that you complete the summer internship program in the second year, as is typically considered while on the job.
3 promotion tips for a stress-free investment banking internship
1. Search for available internship programs -. Most investment banks offer an internship program during the summer vacation. You can research companies that are planning to organize internship programs during summer vacation. The research should be done early enough so that you have enough time to submit your internship application. A good place to get information about investment banking internship programs is at your college career portal, as most companies post their internship information on college and university career portals around them.
2. Submit an application early -. After receiving information about
Investment banks keen to accept interns for the summer vacation, the next step is to write and submit your application and curriculum vitae (CV). Submit your application as soon as you receive a notification; An early bird can give you an edge over others who applied a few days later than the deadline.
3. make a good impression during the interview -: you may be invited for an interview in a bank or an investment firm; You need to convince them to consider you for the job. Make sure you do some proper company research before interview day to learn vital things about the company like the mission statement and history.
What to expect during your investment banking internship
- Prepare presentation materials for use in meetings with clients.
- Execution of operations with capital and debts.
- Valuing analysis using multiple methodologies such as leveraged buyouts, comparable transactions, discounted cash flows, etc.
- Participation in the execution of transactions.
You will be able to participate in many other exciting activities during your internship program. Make sure you work hard and try to impress your bosses so that after you graduate it is very easy to get a job where you did your internship.
Two tips for a successful internship
Before I finish this article, I would find it useful to give some tips to help you have a successful internship. Remember, this is one thing to take as an intern in a company and another thing to make a good impression in the minds of your employers. As I mentioned above, there’s a good chance the firm will hold you back if you make a good impression on them. Since you are more likely to work under the direction of a lawyer during your articling period, the following tips will help you succeed on your articling stage:
I. Ready to learn, not to learn … – The will to learn quickly and not to learn will infect you in the hearts of your employers and colleagues.
II. Ready to go the extra mile … If that means an extra hour is needed to complete the task on demand, please do so. This is because you may not be working directly with the managing partner or department heads. But the employee you work under will be willing to say a few words about you to the boss, if you have that quality. Finally, remember to apply the principle of working smart, not hard.