click to close
help
edit

Forums
Finance

Summer Internship Archived From: Finance

  • Text Only
  • Search this Topic »
  • switch to 'Classic' view
  • Page :
  • 1
alert mods    

I have been looking for a summer internship for 4 months, but I have not been able to get one. I have been told by multiple financial firms that I was the top candidate, but because I was a sophmore, they decided to choose someone else. I am going this week for summer, and I really want to get a job that has something to do with finance asap. Any recommendations on how to get one?

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

alert mods    

edited.

alert mods    

1) Do a search, there is a thread that gives extensive insight into getting a financial internship. You'll find in there that most financial firms, if not all, don't hire sophomores for their internship programs.
2) You are a little late to the process. Jan/Feb is usually the beginning of internship recruitment. Second round of interviews is in March and offers go out around now.
3) This is a really tough market. Thousands of people are getting laid off in finance. You're going to have a much harder time this time around than any other time.

Given that, I would recommend that you follow the advice given in the internship thread. Last time this was discussed, there were a number of recruiters posting on the thread also. And network like crazy. But chances are you won't get anything in formal internship programs at finance firms so I would look into working in the finance field at smaller firms.

Also, it would help get this thread taken seriously if you correct the typo in the subject line.

alert mods    

You're looking for an internship in ancient Mesopotamia?

alert mods    

At this point, it's likely too late in the game for any paying jobs to be available. Start approaching nonprofits and try for local/state government. You might not get something that's directly related to finance, but any experience you gain from one of these entities even in a tangentially related area probably would not go to waste. Also consider trying to do research with a professor related to your field of interest.

alert mods    

1. Job market is very tought righ now, esp. for finance.

2. Being a sophomore does not help either. Juniors get a preference, becaues they are graduating next year, and the internship is more like an extended interview.

3. What school are you attending? That might have something to do with it too. What city are you in, and where are you looking for internships.

4. You might want to downgrade your expectations and do something else.

5. From the description you have provided, it is not clear what type of job you are looking for. "Financial firm" can mean anything: depositary institution, investment bank, insurance company, tax company, consulting company w/ an M&A arm, you name it. Care to provide more detail?

6. All those firms that say you are the top candidate. You can make them put up or shut up. If you are savvy, you can directly ask them: would you consider me for an internship next year? I know next year is about one-and-a-half century in the future as far as the state of the financial markets is concerned, but you can still get some mileage out of "you are our top candidate". Get the phone numbers of hiring managers, HR, and rank-and-file employees. Call them at the end of the summer, call them in the fall. Don't pressure them to give you an internship next time (except perhaps for asking them once as I mentioned earlier). But keep in touch, so to speak. If they are really interested, they will do their part to keep in touch with you and maybe give you a stronger consideration than someone else in one year's time.

alert mods    

I go to FSU, and I am looking for an internship in the Tampa St. Petersburg area. Right now I am waiting to hear back from the Tampa Bay Bucs on Monday or Tuesday for a marketing internship position, but i am not optimistic. I am also working on a summer financial internship with a local hospital, and one with Salomon Smith Barney. We'll see how that works out this week. I go home for the summer on Thursday, so I am desperately looking.

There are two places who told me i was the top candidate, but i was too young. One of them said something about working for them over winter break, which I am going to keep in touch about. And the other one I am almost definitely going to work for next summer.

I am looking for anything right now, unpaid is not a problem, I just want to work for a reputable financial firm

alert mods    

I would imagine that some government office in Tallahassee could use an unpaid intern in some economics/finance-related field. See if any of the legislature's committees are looking for help. Start making some phone calls. I really think that's your best option. You might want to consult with your school's career services office to see if they can provide any help.

Realistically, you're probably not going to get a job in industry at this point. You're not far enough along in your education, your school isn't elite, and it's really late in the game. Some experience in a somewhat-related area is better than no experience at all.

Also, have you considered looking outside of Florida? DC is the place to be for summer interns!

alert mods    

get a job as lifeguard, bring you laptop and surf finance forum on FW

alert mods    

FW Genius said:get a job as lifeguard, bring you laptop and surf finance forum on FW

I am speechless..

alert mods    

tenniseddo said: ... and one with Salomon Smith Barney.Ask them if all you will be doing is cold calling ALL day. I've heard great stories.

alert mods    

tenniseddo said:There are two places who told me i was the top candidate, but i was too young.

You are kidding, right? "Too young" can not be used to decline you a job offer. Perhaps their wording was different. Or else, we should page codename47

tenniseddo said:One of them said something about working for them over winter break, which I am going to keep in touch about. And the other one I am almost definitely going to work for next summer.

That' great.

tenniseddo said:I just want to work for a reputable financial firm

What's a reputable financial firm? If you are looking to work for the local broker (Merrill, Smith Barney, etc), that's not going to get you far. You will be making photocopies, answering the phone, and fixing the copy machine.

Some of the better quality jobs might be less advertized. City or county tax or accounting office? Maybe the accounting / audit / corporate finance department of a small or medium corporation? You might get a much better experience in one of those than the Smith Barney broker.

To the rest of FWF members: why is OP getting negative feedback?

alert mods    

tolamapS said:why is op getting negative feedback?

He already had a thread last month. Text. I also don't buy that there aren't any internships. Starting in January there were tons available and I got interviews for several, and got multiple offers. I'm in finance as well, and I sort of drifted over to an internship with a great company in property-casualty because it seemed like there was a ton of hands-on work, and I really liked the people who interviewed me, who I'd be working with. I'd love to have an internship with an investment bank (which is what I think you want), but I know several people who had them and they said: "You can't really do anything, so we basically got paid to just go to work everyday and do random things and only got to experience how things worked from seeing it, not from doing it."

Sophomore status doesn't mean much. There are plenty of people who get great internships sophomore year. Review your resume, do a mock interview with your school's career services, make sure you know a lot about the company, know answers to the most asked interview questions (these were 80% of my interview questions, like strengths, weaknesses, etc.), ask them plenty of questions to get them talking about themselves and the internship, smile and be enthusiastic, and send thank you letters after. If you master those, you'll beat out 98% of the candidates and you will get an internship, regardless of year.

alert mods    

Have you checked with the banks operating in your area?

alert mods    

tolamapS said:

What's a reputable financial firm? If you are looking to work for the local broker (Merrill, Smith Barney, etc), that's not going to get you far. You will be making photocopies, answering the phone, and fixing the copy machine.


you forgot to mention: making coffee

alert mods    

tolamapS said:tenniseddo said:There are two places who told me i was the top candidate, but i was too young.

You are kidding, right? "Too young" can not be used to decline you a job offer. Perhaps their wording was different. Or else, we should page codename47

You would actually be quite incorrect about that. Age discrimination is perfectly legal for anyone under 40, whether it's too old or too young. Age discrimination is only illegal to those forty and older. And even then, you can discriminate against someone who is too young, as long as it's in favor of someone older.

 Close

Sign Me In
Nickname: 
Password: 
Remember My Login Information:

Forget your login information?

Not Already A Member?
Sign Up Now!



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.