Investment Banking Internships: Tips on How to Apply

Investment banking internships are the ideal starting point for any aspiring financial professional, as they provide an excellent opportunity to gain experience in finance and investments. It is a unique ground for extensive learning and networking experience that can open doors to other career opportunities.

So, as an intern in this industry, you will work closely with experienced bankers and learn more about the field. When you acquire a strong foundation after the program, you can quickly move up the ladder in the investment banking world and make a lasting impact. Without further ado, let us talk about how to land an internship in this field.

What is investment banking?

Investment banking is a financial service that is divided into two main divisions: corporate finance and sales & trading. Generally, this industry assists companies, governments, organizations, and other large institutions with issuing and underwriting new securities and making markets in securities.

They also provide financial advice to companies on mergers and acquisitions and other corporate finance services. Their primary role is to act as an intermediary in capital markets transactions, like helping companies to raise money by issuing debt or equity and assisting investors in buying and selling investments. This type of banking also manages large portfolios of investments for their clients, including stocks, bonds, mutual funds, and other securities.

List of investment banks that hosts internships and their internship programs

• Bank of America
• Barclays
• BMO Capital Markets
• Citigroup
• Evercore partners
• Deutsche Bank
• Goldman Sachs
• JP Morgan Chase
• HSBC
• Wells Fargo

Tips on how to get an internship in investment banks

Getting an internship in an investment bank as an undergraduate or graduate student can be very exciting and a great way to launch your career and gain valuable experience in the financial services industry, but you must follow these tips.

Possess the necessary academic requirements.

So, to get an internship in an investment bank, you must first understand the requirements and qualifications necessary for the position.

Have the required skills.

Aside from the educational requirements, skills like excellent communication and research matter incredibly in internships. Therefore, you must demonstrate that you have these necessary skills, a professional demeanor, and a solid work ethic; while demonstrating the ability to work in a competitive and fast-paced industry such as this one.

Demonstrate the desired qualities.

In addition, most investment banks seek candidates with a strong knowledge of the financial markets, and economics, a strong understanding of mathematics and statistics, and accounting. It is not an industry that demands random qualifications or academic backgrounds. The investment bank industry internship programs are always specific and strict in their demands.

Desire and research the right bank

To apply for an investment bank internship, it is vital to research the different investment banks and find out which offers internships. As we know, these banks do not host internships simultaneously and ensure that your preferred bank has an internship in a location favorable to you.

Find the company’s website.

Many investment banks have career websites specifically for internships, so be sure to check those out. You can check out our website to help narrow your search; we have compiled many investment bank internships for your perusal. Meanwhile, you can also look for internships through online job listing sites like Indeed or Glassdoor.

Build a robust resume and a well-detailed cover letter.

Say you have identified the banks that offer internships; the next step is to create a fine resume and cover letter highlighting your skills and qualifications. It is also a fine idea to include any experience you have in the financial services industry, such as internships, part-time or volunteer work. You will find resources that will help you know how to list your internships on your resume and craft a great cover letter.

Networking

While carrying out other application processes, you must also ensure that you reach out to contacts within the bank. This could be former interns of the bank or current and former employees. Building relationships with people in the industry can be invaluable and will give you an edge over other applicants.

Prepare for interview

Make sure you are well-prepared for any interviews that you may have with the bank. Do some major research on the company beforehand and prepare yourself mentally. Here is a guide to help you prepare for your internship interview.

Follow up after your interview.

Acing the interview is almost the last step to winning your dream program, but it is truly not the last step. You must follow up with the bank and ensure your application is not shoved aside. Following up on the company after sitting for your interview can be a way to fast-track your application and get you admitted to the internship program.

Conclusion

Getting an internship in an investment bank can be a competitive process. Still, with proper preparation and dedication, gaining experience in the financial services industry can be an invaluable opportunity.