Top Finance Internships: Making Your Summer Count
Are you seeking a great way to gain experience in finance? Internships are a great way to build your resume and cover letter while learning essential skills. Many top finance internships are available, and they offer invaluable experience that will give you an edge over other job prospects. Whether you’re interested in banking, financial planning, or accounting, there is an internship that can provide hands-on experience and help you land the job of your dreams.
Overview of Finance Internships
A finance internship is a program companies, nonprofits, and even government organizations provide to possible interns. Interns can work part-time or full-time. Finance internships usually last one to four months, but some can last for a year. The duration of the training is generally agreed upon by both the intern and the company in the early process. A finance internship aims to get acquainted with the financial industry.
What does a finance intern do?
The duties of a finance intern include the following;
- They generate and analyze financial reports
- Interns take notes during meetings, prepare statements and assist with research and data entry.
- A finance intern also performs administrative work while shadowing finance department members as they perform their duties.
Benefits of finance internship
There are numerous benefits to gaining a finance internship. Here are a few of the benefits of enrolling in a finance internship:
#1. Gain work knowledge and increase marketability
Though academic certificates say a lot about your work ethic and abilities, employers will prefer candidates with relevant experience.
#2. Gain valuable recommendations
Your internship supervisor has seen your talents and abilities and is an excellent reference for future jobs. Other people you work closely with at your internship can also be references for your future job hunt.
#3. You will meet people with similar interests.
Finance internships introduce you to students or recent graduates who share your passion for the industry, which certainly helps your career and social life.
#5. Internahip Increases confidence
Even if you had a job before or during university, you probably didn’t know the day-to-day experience of working in finance until your first internship. When you decide to intern, you’ll first experience working in the office environment, interacting with supervisors, colleagues, and stakeholders, and handling customers. All of this could be beneficial when boosting your career.
Top 5 Finance Internships
Here are the top 5 finance internships;
#1. Goldman Sachs Internship
The Goldman Sachs Internship is a summer or off-cycle internship for undergraduates and graduates in various fields who want to build a career in financial services. It allows participants to gain practical experience working with leading professionals and experts. Thus, they learn the skills and techniques to succeed in this area. Applicants can apply for two major programs: the Summer Analyst Program and the Summer Associate Program. Applications for these programs are open in the summer and run till November 20. It is a twelve-week program that offers enough experience to interns.
#2. J.P. Morgan Internship
JP Morgan has consistently been ranked as one of the top banks regarding assets under management. As of 2019, they had over $2.6 trillion in assets under their control. Their financial products are used by clients worldwide, including governments, corporations, pension funds, and high-net-worth individuals.
During the Summer, JP Morgan gives students and new graduates a taste of what it’s like to work in the financial industry. The programs allow the interns to gain valuable insights into finance while gaining work experience and networking opportunities. In addition, the company also has access to talented individuals who may be interested in joining their team down the line.
#3. Morgan Stanley
Morgan Stanley Internship is a 10-week intensive program available to undergraduate and postgraduate students who wish to pursue a career in financial institutions. But on the contrary, only students with a minimum grade point average of 3.00 to 3.49 GPA are eligible to apply.
Similarly, the students who wish to work as interns at Morgan Stanley must apply to either the summer analyst internships available during the summer or the off-cycle internships that run throughout the year. Despite being competitive, Morgan Stanley hires about 1500 interns every year, according to the information on the website.
#4. Berkshire Hathaway Internships
Berkshire Hathaway, a multinational conglomerate holding company led by legendary investor Warren Buffett, is one of the world’s largest and most respected companies. With a strong reputation for integrity, innovation, and success, Berkshire Hathaway offers a unique opportunity for young professionals to gain valuable experience and build their careers through its internship program.
Students interested in growing businesses and joining a strategy-driven team may look into Berkshire Hathaway’s internship possibilities. Accounting/finance, actuarial science, claim operation, marketing, IT systems/programming, legal, and underwriting internships are available at the company. Undergraduate students with at least one year of schooling are encouraged to apply. Berkshire Hathaway Homestate Companies provide all training.
#5. BlackRock Internship
Finance and investment experts once described BlackRock as ‘the No. 1 asset manager worldwide’, and this is just putting it mildly. It is one of America’s three most potent index fund managers, rightly known as The Big Three.
BlackRock offers investment advice to individuals, corporate bodies, and governments. The organization is one of the most respected asset managers in the world. The organization helps its clients make critical financial decisions by investing in lucrative projects to ensure financial security. BlackRock has its headquarters in New York, with branches worldwide, and up to 20000 staff. As a result, its internship program is highly competitive and much sought-after by undergraduates and young school leavers.
Frequently Asked Questions
Do finance interns get paid?
Finance interns can be paid or unpaid. If you’ll get paid and how much depends on your previous experience (if any), skills, year in school (whether you’re an undergraduate, graduate, or an MBA student), type of position, employer, and location.
The average finance internship salary in the US is among the highest across different sectors. Financial interns in the US get paid around $18 per hour. A survey by CashNetUSA in 2022 disclosed that there are over 50,000 internship vacancies across the US across several sectors.
What Is the Most Prestigious Finance Internship?
According to a Firsthand survey of 11,400 interns, Goldman Sachs offers the most prestigious finance internship. In 2022, the firm received a record 236,000 applications, 14% higher than the previous year.
How long do the BlackRock Internship programs last?
The internship programs offered by Blackrock Inc. are tenable for eight to ten weeks, depending on the agenda. While BlackRock’s MBA Summer Associate Program lasts ten weeks, its Summer Analyst Program runs for only eight weeks.
Conclusion
Finance is a good choice for students who want to start a finance career. Above all, Finance Internships give the required experience, finance skills, and mentorships that can help start your career at greater heights. So what else is holding you back? If nothing, Apply Now!
