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The benefits of an internship are vast. Often, you’ll have the opportunity to gain knowledge you won’t learn anywhere else before you graduate from college, giving you a real advantage when you official enter the professional world of investment banking. You can also demonstrate your skills in an environment that will be similar to those you work in once you do secure your place on the career ladder. Internships also improve self-confidence while giving you a chance to make critical business connections, and bring a strong value to your resume
But just because you understand the benefits of an internship, that doesn’t mean you understand which companies you should target with your resume. To help you decide which summer internship opportunities might be right for you, here are five of the top investment banks that are worth checking out.
Goldman Sachs has a strong reputation for doing right by their summer interns. Their ten-week summer program provides college students with the chance to dive into the day-to-day operations of this investment giant. This includes opportunities to participate in transactions being performed by the team they are supporting, as well as involvement in various forms of research and presentation preparation.
Every intern starts with a training program designed to familiarize you with the culture and workplace, as well as the benefits and responsibilities associated with being part of the Goldman Sachs team. Additionally, the pay rate offered to interns is considered highly competitive, making the potentially long hours easier to bear.
However, it is important to note that competition for these positions is high. In fact, in 2013, they received 17,000 applications just for the summer internship program.
JP Morgan is also known for creating a strong community upon which interns can rely during their time with the company. The nine-week Investment Banking Analyst Internship provides students the opportunity to learn fundamental skills they can carry forward into their professional careers.
Along with on-the-job training, interns get the benefit of working in product or industry groups with also gaining exposure to client and team interactions. Interns get the chance to participate in deals in progress as well as large transactions and can gain experience in areas like research and modeling, as well as the development of strong sales pitches.
Investment Banking Summer Analysts at Morgan Stanley get to assume the functions generally associated with a full-time analyst during the ten-week program. Interns are assigned to specific workgroups, allowing them access to a range of transactions. This helps improve financial analysis skills as well as those involved in executing deals.
Some training opportunities throughout the program include those run by various senior executives, providing access to some of the most influential people working in the investment banking industry. As with the other institutions on this list, compensation is generally considered strong based on the program requirements.
Bank of America
Bank of America brings on Investment Banking Summer Analysts as part of their paid internship program. Participating students receive competitive compensation while also being able to join one of a set of industry and product teams including, but not limited to, Consumer & Retail, Real Estate, and Mergers & Acquisitions.
The program takes place over the course of ten weeks and provides participants with a range of opportunities to grow their skills. Tasks can include complex financial modeling, company and industry research, presentation preparation, and the ability to work with a skilled team of investment-oriented professionals.
Internship opportunities with UBS give students a chance to learn how the business operates while being a contributing member of an established team. Additionally, earn participant is matched with a mentor to help provide additional insights into the company.
Those participating in the internship program will work alongside skilled investment professionals, providing access to high-level projects while they are encouraged to develop their skills.
Ultimately, any of these summer internships can provide students with a significant amount of experience in a relatively short time period. While maintaining the pace that is expected from every participant can be a challenge, for those truly interested in investment banking, there are few routes that will open these same number of professional doors like these.