Follow
Finance students attending both undergraduate and graduate school programs have unprecedented opportunities to try out finance careers before they officially enter the work force through the various types of finance internships available to them. Since the finance degree programs at most reputable universities closely follow the needs of the financial services industry, it makes sense that there would be a possible internship for every finance area covered within a program’s curriculum. Students whose interests were piqued while taking certain finance subjects can search for internship positions that allow them to conduct supervised work activities with often well known firms. According to Forbes, most of these short term positions are paid ones which is an added bonus to the career enhancing work experience that these students and recent graduates hope to gain. Here are some popular finance internships available to students, the qualities that make internship candidates attractive to employers and the typical length of finance internships.
Investment Banking Internship
One of the most sought after positions in the world of finance is that of the investment banker. The job is both challenging and lucrative to those business professionals who excel in the position. Since many finance undergraduate and advanced degree holders believe that they want to begin careers in investment banking, internships for the job are some of the most competitive of all offered within the field of finance. The good news for those who can land investment banking internships is that a large percentage of the interns are offered permanent positions with the banks after they demonstrate their talents during the internship period. Some of the investment banking intern activities include financial data modeling and preparation for client meetings for acquisitions, mergers and corporate restructuring activities. These internships are usually about 10 to 12 weeks in length.
Information Technology Finance Internship
A lessor known finance intern position is the information technology (IT) finance internship. IT has become an integral part of today’s business environment, and the financial services sector is no exception. Computing systems facilitate efficient financial transactions, market research and analytical data modeling. Most IT finance jobs focus on developing and maintaining the computing systems used within the financial services sector. IT finance internships partner finance students and recent graduates with mentors who supervise their work on application design, development and support. They also specialize in securing IT financial services networks and web based platforms. These internships are usually conducted for about two months during the summer break.
Financial Analyst Internship
Financial services firms are reluctant to hire newly minted finance graduates without any work experience in the sector. That is why aspiring financial analysts are especially eager to obtain internships for this position at well known financial institutions. Interns support junior financial analysts in gathering data about markets and using the data to help detect trends for investment and risk management efforts. The financial analyst interns must demonstrate quick and efficient problem solving skills as well as good written and verbal communication abilities needed to report their findings.
Related Resource: Auditor
Conclusion
Almost nothing beats actual work experience to determine if a career is the right fit before investing a lot of time no matter how great a degree program’s curriculum happens to be. However, students must realize that the best opportunities with top financial services firms reflect the actual tone of the job market in that obtaining one is an extremely competitive process. If a student does not get their top internship choice, all is not lost because there are usually a number of other types of finance internships available.
