Table of Contents
The Finance Internship Program is open to undergraduate and graduate students. The objective of the training is to offer candidates the opportunity to improve their skills and experience in researching topics relevant to the economies of Latin America and the Caribbean.
Interns play a crucial role as they contribute to the execution of the Organization’s substantive work. They engage in economic analysis focusing on trade, international finance, and development. Responsibilities include doing research, collecting and analyzing data, creating charts and graphs, writing reports, maintaining databases, assisting in the distribution of documents, producing daily news reviews, participating in conferences and seminars, preparing briefing notes, and helping in administrative tasks.
What Makes a Successful Internship for a College Finance Special?
Doing the Job, you Were Traine to Do
A great internship depends on the field you enter, such as investment banking or accounting. But overall, being busy using the skills you’ve learned and developed in the classroom defines the best internship experiences. In addition, the NACE study reports that interns pay 42% of their working hours on professional tasks (analysis and project management) and only 25% on non-essential work, such as filing data or ordering lunch for full-time staff. So if you’re spending almost half of your time on a challenging and rewarding career, your finance internship is on the right track.
How Many Hours?
College interns who work at banks, brokerages and other financial services firms should aim for 200-400 hours during their internship. Why? Because that’s what hiring companies are looking for in terms of on-the-job intern experience.
What Salary Can you Expect?
A paid internship means compensating for about half the Salary (and without benefits) of a starting salary for a similar job. Also, be aware of what you are doing and where you are doing it. For example, according to Indeed com, a job placement site, the median salary for an internship in Fresh York City at an investment bank is $41,000. So while you shouldn’t necessarily judge an internship on the amount of the paycheck, if you’re earning $25,000 or $30,000 (or more) for the entire training, you’re on the right track.
Signs of a Good Internship Program
College graduates and students wondering what other elements comprise a rewarding internship experience should look for the following items:
- A direct internship coordinator whose full-time Job remains managing interns
- A written company plan that explains your policy toward interns and your goals in your internship program; you shouldn’t have to ask. The company should give you a
- emphasis on challenging work, not psychological.
- Opportunities to network and learn from employees and management at regular meetings, seminars, company dinners and training sessions
- A chance to speak with former interns at the financial services company to gain their perspective on the internship experience
What steps should your income to ensure an excellent financial internship? Receiving a decent internship at a bank, insurance company, or other financial services company is all about preparation. On that note, cross these items off your checklist first:
Check Your Status Online
The unemployment line is fill with resumes from college grads who didn’t take to business to assess their online reputation. Money management firms are, above all, cautious about who they bring on board to help manage client money. Most prominent Wall Street banks and investment firms insist on a background check, and most likely a drug test, to make sure you’re fit to represent the company to the public.
That’s why it’s a good idea to quickly and thoroughly cleanse your online persona. For example, beware of risky images on Facebook or inappropriate comments on Twitter. Financial services companies will be on the lookout for what they see as risky behaviour; avoid it and remove any examples of such behaviour online before interviewing with a money management team.
Use Technology to your Advantage
Write a blog on financial and investment matters, host a podcast on stock risk or the state of the US mortgage market, or start an investment club (or at least join one). Financial firms love internal candidates who delve into the money management industry in ways that go beyond pure academics. Those are the ones that land good internships and suitable job offers.
Start your Network File
Once you land an internship, start archiving the names and contact details of the professionals you meet for your training. It could remain the contact who helped you win the internship, the broker or analyst assigned to help, or your company-specific internship coordinator. Everything can be helpful when it comes to pushing, and you are looking for a job offer.
Above all, be sure to write personalized thank-you notes to all the professionals who have helped you. Civility and good behaviours count for a lot on Wall Street and the financial industry. They can even mean the difference between leveraging an internship for career benefits or not.
While most paid internships are generally more rewarding in terms of experience and can take you further in your career than unpaid internships, you’re better off if you can get any internships at all. The value of networking and experience goes a long way, whether you’re earning a salary or not.