The art of internship in investment banking

The summer interns arrived and they returned to the office. Yesterday, 505 interns started at JPMorgan’s EMEA offices. Last week, 550 interns began at Morgan Stanley in Asia. Interns in banking in the United States began earlier this month.

As already noted, this year’s traineeships could potentially be more difficult to convert into full-time positions than last year’s, especially for people in investment banking divisions, where revenue for 2022 seems challenging.

If you want a job offer at the end of the internship, then you have to play the game extremely well. We talked to successful interns from previous years. This is their advice …

1. Become an experienced user of Excel and PowerPoint

You will use a lot of Excel and PowerPoint and you will not be able to get fully acquainted with them during the training, says a successful market intern.

2. Multitasking

“If there was one thing I needed to learn to do quickly during my internship, it was multitasking,” said a former intern in the investment banking department. Multitasking is his most valuable skill, he added. Another intern pointed out that short tasks can be easily edited if you are not used to juggling and dealing with fast deadlines.

3. Network

“The network needs to be very productive,” said a sales and trade analyst at a North American bank. Last year, networking was virtual. This year, coffee chats are back in fashion. You may need to work online outside of your team. “Take time to connect with other teams and people outside your immediate circle,” said a visiting analyst at a Japanese bank. “This is one of the most important things you need to do during the program if you want to maximize your chances of getting a return offer.”

5. Ask meaningful questions

Another incoming analyst at a Japanese bank said he also arranged for brief conversations with analysts and associates from other teams. “The key for me was to always ask meaningful questions,” he says. “I prepared for these calls by researching and reviewing their LinkedIn profiles to make a good impression.”

7. Never complain about the hours

Trainees from previous years warn you not to work as hard as you can. “Work as long as possible and as hard as possible,” said one intern, who said he worked regularly until 11 pm in the second half of his internship.

8. Start work early

“I had no idea how much more work I could do if I started my morning an hour before I entered. This was key for me to be able to achieve everything and connect during the time saved, ”says a successful intern at JPMorgan.

9. Go to events

“Although interns are not required to attend many of the events, I have tried to attend most, if not all. You learn so much about the company and have the added opportunity to interact with older people, ”says the JPM intern. Eric Sim, a former UBS MD who has become a career coach, agrees: “Too many interns don’t think dinners and drinks on the team are important,” he said.

Click here to create an eFinancialCareers account. Become visible to tenants hiring for the best jobs in technology and finance.

Do you have a confidential story, advice or comment that you want to share? Contact: [email protected] first. Whatsapp / Signal / Telegram are also available (Telegram: @SarahButcher)

Be with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these people may be asleep or away from their desks, so it may take a while for your comment to appear. Eventually it will happen – unless it is offensive or defamatory (in which case it will not happen.)

Photo by Liao Je Wei on Unsplash

Leave a Comment

Your email address will not be published.