What made my internship insightful was not only the things I have learned throughout the process but also the obstacles I overcame. One of the major obstacles was my lack of professional knowledge in Investment Banking area prior to my internship. Compared to other interns who are rising seniors, I have limited knowledge in banking.
In the beginning, it was hard for me to work on modelling and valuation when I did not know a lot of the professional vocabulary terms. Even though I have taken Finance classes at school, but I realized real life finance work is completely different. It was more difficult when I was given the tasks to value a company based on financial statements. Therefore, the first few weeks at work did not go well for me.
However, such difficulty was expected when I applied for the internship. I was aware of my disadvantage due to the fact that I am only a rising junior in college. Therefore, I decided to spend extra effort to overcome this big challenge. I would drop down the terms I am not familiar with on my notes during work. Whenever I did not know the term, I would research the definition of the term or ask other interns about it. And after work, I would spend extra time reviewing the notes I took during the day. It was a struggle in the beginning but as time goes by, I have gotten a better understanding of the terms on the financial statements, which helped significantly when I was building my own model.
The obstacles came out to be a great learning experience since I was able to pick up concepts I did not know before after spending the extra effort in order to understand them. Working at Brock was an intense process where I was given many challenging tasks. Even though I had limited knowledge in banking in the beginning of the internship, I have learned so much during the process and was able to complete the difficult tasks given by the senior people. I was proud that I was able to overcome the obstacle and improved my financial analysis skills.