Investment banking internships

Investment Banking Internships: About, Criteria, Helpful Tips

Investment banking internships are the ideal starting point for any aspiring financial expert, as they provide an excellent opportunity to gain experience in finance and investments. So, if you’re looking to kick-start your career and gain invaluable experience in the financial services industry, you might have to consider one of these internship programs.

This article will provide a brief overview of investment banking internships, including their duties, salary, requirements, and more. Without further ado, let us talk about how to land an internship in this field.

What are Investment Banking Internships?

Investment banking internship programs are opportunities open to students and recent graduates in finance-related fields. They last for 10 to 12 weeks, providing an opportunity for participants to collaborate with experts, develop new skills, and gain knowledge relating to the financial services industry.

These programs will let you gain exposure to investment banking practices and products, including majority & minority recapitalizations and debt & equity financings.

Duties of investment banking interns

The job responsibilities of investment banking interns vary from company to company. However, their primary duties are to:

  • Create financial analyses.
  • Help team members with document creation.
  • Prepare board presentations, marketing documents, pitch materials, and other documentation.
  • Prepare marketing materials and anything else relating to transactions.
  • Develop contact databases.

Average Salary of Investment Banking Interns

Investment banking is one of the highest-paid internship programs worldwide, with an estimated hourly wage ranging from $43 to $69. So, you can expect to earn anything between $8,083 and $12,750 per month if you’re a full-time investment banking intern.

Eligibility Criteria for Investment Banking Internships

The requirements for investment banking intern jobs are as follows:

  • Must be a college/university student or fresh graduate whose discipline is finance, accounting, economics, business, or related. Also, your school must be an accredited higher education institution.
  • Have a CGPA of 3.0 or more
  • Must be willing to work full-time for about 40 hours a week
  • Readiness to start a career in the financial services industry

Required skills:

  • Impressive problem-solving, accounting, and finance skills
  • Top-notch analytical, research, and quantitative reasoning skills
  • High level of initiative and motivation
  • Ability to meet deadlines
  • Excellent interpersonal skills with the ability to maintain relationships
  • Strong attention to detail, teamwork, and multitasking skills
  • Superb communication skills
  • Proficiency in working with Microsoft Office programs

Documentation requirements:

  • The company’s filled-out internship application form
  • Unofficial transcript
  • Up-to-date resume

Top 10 Investment Banking Internships

There are countless internship programs for students and recent graduates looking to start a career in investment banking. Below are the most popular of them:

Tips on Landing an Investment Banking Internship

As investment banking internship programs are highly competitive, we recommend considering specific factors even before submitting your intern job application.

The following are some helpful tips to consider while planning to participate in an investment internship:

1. Meet up with the academic requirements.

Before applying for an investment banking intern role, you must first understand the requirements and work on satisfying them all.

2. Develop more relevant skills.

Aside from the academic requirements, skills like excellent communication and research are essential in internships. Therefore, you must demonstrate that you possess these necessary skills, a professional demeanour, and a solid work ethic while demonstrating the ability to work in a competitive and fast-paced industry.

3. Demonstrate the required qualities.

Investment banks seek interns with a strong knowledge of the financial markets. You must have all the personal attributes and potential required to participate in the internship program.

4. Research the employer’s organization.

We also advise you to make findings about the financial institution, bank, or company where you want to intern. Ensure you find out their vision, mission, and service areas.

5. Get genuine information from the company’s official website.

Most investment banks have career websites where you can find specific information about their internship opportunities. So, be sure to visit the website. You can also check out our website to help narrow down your search, as we have compiled many investment bank internships for your perusal.

Meanwhile, you can look for internship opportunities on online job listing sites like Indeed or Glassdoor.

6. Create a strong resume and a well-detailed cover letter.

Make sure your resume and cover letter highlight your skills and qualifications. Also, include any experience you have in the financial services industry, such as previous internships or volunteering work.

You will find resources that will help you know how to list your internships on your resume and craft an enticing cover letter.

7. Grow a network with the company’s staff via social media.

You can also reach out to contacts within the company. This could be former or current interns of the company or their employees. Building professional relationships with people in the industry will give you an edge over other applicants.

8. Prepare for your interview.

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

9. Follow up after your interview.

You must follow up with the company to ensure that they do not neglect your internship application. Following up on the company after sitting for your interview can be a way to fast-track your application and get you accepted for an internship.

Frequently Asked Questions

What does an investment banking internship do?

Investment banking internships train students and recent graduates and give them an opportunity to gain work experience, develop more skills, and build a professional network.

Do investment banking interns get paid?

Yes. Since investment banking internships are usually paid, you will most likely receive financial compensation for interning in this field. The amount will vary depending on some factors, like your employer and internship location.

How much does J.P. Morgan pay investment banking interns?

JP Morgan pays between $43 and $68 per hour to students and fresh graduates participating in their investment banking internship program.

Conclusion

Participating in an investment banking internship will be incredibly beneficial to your career, even though such opportunities are highly competitive. With proper preparation and a high level of motivation, you will get the most experience in the financial services industry and land an internship easily.

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