Finance Internships: Summer 2011

The summer of 2011 saw a continued recovery in the financial sector, albeit a cautious one, after the turbulence of the 2008 financial crisis. For students seeking finance internships, this translated into a moderately competitive landscape with opportunities available across a range of specializations and firm sizes.

Investment banking remained a coveted destination, with bulge bracket firms like Goldman Sachs, Morgan Stanley, and JPMorgan Chase offering highly structured and demanding internship programs. These programs often involved rotations through different departments, such as mergers and acquisitions (M&A), sales and trading, and equity research. The aim was to provide interns with a broad understanding of the investment banking landscape and a taste of different career paths.

Beyond the bulge brackets, boutique investment banks and advisory firms also offered valuable internship experiences. These smaller firms often provided more hands-on involvement in live deals and greater exposure to senior management. While compensation might have been lower compared to larger firms, the learning curve could be steeper and the opportunity to make a significant impact greater.

Asset management firms, including giants like BlackRock and Fidelity, offered internships in portfolio management, investment research, and trading. These internships provided exposure to different asset classes, investment strategies, and risk management techniques. The emphasis was often on fundamental analysis, financial modeling, and understanding market dynamics.

Commercial banking offered a different perspective on the financial world, with internships focused on lending, credit analysis, and relationship management. Banks like Bank of America and Wells Fargo offered programs that allowed interns to work with businesses of various sizes, helping them access capital and manage their finances.

Beyond traditional finance roles, opportunities also existed in corporate finance departments of large companies. These internships provided exposure to financial planning, budgeting, forecasting, and capital allocation decisions within a non-financial setting. This could be a valuable experience for students interested in applying their finance skills in a broader business context.

The application process for finance internships in 2011 was typically rigorous, involving online applications, resume screenings, and multiple rounds of interviews, including behavioral and technical assessments. Strong academic performance, relevant coursework (e.g., finance, accounting, economics), and extracurricular activities demonstrating leadership and teamwork were highly valued. Networking events and career fairs played a crucial role in connecting students with potential employers.

Overall, the summer of 2011 offered a diverse range of finance internship opportunities. Successful candidates demonstrated a strong work ethic, analytical skills, and a genuine passion for the financial industry. The experience gained during these internships often proved invaluable in launching successful careers in finance.