How do you get an internship in investment banking?

I'm interested in investment banking and I've heard that you need to have completed an internship in order to get a position after college. Is this true? If so, how do you get an internship like that? When should I start looking for an internship?

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Asked Jul 09 '12 at 14:47

Jackson T. Boston, MA

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Jared Chung Founder at CareerVillage.org
Boston, MA Nonprofit management Last updated Jul 09 '12 at 14:49

Internships are definitely important for iBanking jobs. Usually you want to have an investment banking internship after sophomore and junior years of college. Banks come onto college campuses to recruit for internships in the late fall or mid-winter. When you get to college, ask your on-campus career office what the timing was like last year, to get an idea of what the timing will be like this year. You should look at some of the job placements from last year to get an idea of what is required. Usually those requirements are: high GPA, previous work experience of some kind (e.g., other internships), and a proven interest in finance (e.g., a club or two). Once you get an interview, you'll need to practice a lot for the interviews (they're usually very challenging), but that's getting onto a different question.

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Lisa Cuesta Product Specialist at Google
San Francisco Bay Area Internet Last updated Mar 05 at 15:48

To add to the answer above, reach out to upperclassmen who have had internships at the companies you are interested in. Schedule an informational interview to talk about their experience, firm culture, leadership, and - most importantly - how to get the job. Upperclassmen are also the ones who return to campus and select who is interviewed for an internship or full time position, so these relationships are not to be undervalued.

Also make yourself and your interest in the firm known - attend the informational sessions, participate in any on-campus events or competitions the firms have, apply for an externship (or shadowing full time employees there for a day or two), look for opportunities to connect with these firms as much as possible. At the end of the day, if you are just submitting a resume that looks the same as everyone else's and no one in the room knows and can represent you, you are less likely to get an interview.

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