After interning at a boutique investment bank in New York last summer as well as at Bank of America this summer, there are a few pieces of advice I would like to share with someone planning to do a banking internship. Personally, I think that an investment banking internship is one of the best opportunities for an undergrad student planning to enter the business world. As a summer intern, you would be exposed to various industries as well as tons of finance knowledge. Through working on financial models, pitches as well as interacting with different clients, you would be able to improve both quantitative skills as well as communication skills. I have transformed from knowing nothing about the industry to someone who can speak about certain topics in a thoughtful way. Therefore, the learning opportunity is amazing and it is a great opportunity to hone one’s skills.
People often associate the investment banking industry with long hours and sleepless nights. The claim definitely holds certain truth but the process definitely pays off with enormous amount of personal growth. Before entering the internship, it is essential to be aware of the fact that you will be spending many hours working. While the work can be intense, but overcoming that steep learning curve throughout the internship is the most rewarding accomplishment ever. Depends on the size of bank and deal teams, some interns get to be staffed on deals and work directly with the CFOs of those client companies. Through working on deals, interns would have the opportunity to add value to the company and see the impact of their work, which makes the experience even more enjoyable. At the same time, interns can also expand their social network in the city and meets lots of driven and intelligent individuals, which is an essential learning opportunity for students.