Finance Internships Summer 2014

Summer 2014 proved to be a competitive landscape for finance internships, reflecting the recovering economy and renewed interest in financial careers following the 2008 crisis. Opportunities spanned a wide range of financial sectors, from investment banking and asset management to corporate finance and commercial banking. The internship experience aimed to provide students with real-world exposure and the chance to apply academic knowledge to practical scenarios. Investment banking internships were particularly sought-after, attracting top students vying for coveted roles at bulge-bracket firms like Goldman Sachs, Morgan Stanley, and JP Morgan Chase. These internships offered an intense, demanding environment, with interns typically assisting analysts and associates on live deals, conducting market research, building financial models, and preparing pitch books. The workload was often heavy, requiring long hours and a strong commitment, but provided invaluable experience in M&A, capital markets, and other core investment banking functions. Asset management firms also offered a diverse range of internships, focused on portfolio management, research analysis, and trading. Interns might have supported portfolio managers by researching specific industries or companies, assisting with the development of investment strategies, and monitoring portfolio performance. These roles generally provided a more balanced work-life dynamic compared to investment banking, while still offering valuable insights into the financial markets. Companies like BlackRock, Fidelity, and PIMCO were popular choices for students interested in this sector. Corporate finance internships provided a different perspective, allowing students to gain experience within the finance departments of non-financial companies. These roles focused on financial planning and analysis (FP&A), budgeting, forecasting, and capital allocation. Interns might have been involved in preparing financial reports, analyzing financial data, and supporting strategic decision-making. Companies like General Electric, Proctor & Gamble, and large technology firms actively recruited for these positions. Commercial banking internships offered exposure to lending, credit analysis, and relationship management. Interns typically worked alongside commercial bankers, assisting with credit assessments, loan documentation, and client interactions. This experience provided a solid foundation in understanding credit risk and the role of banks in supporting businesses. Major banks like Bank of America and Wells Fargo offered a significant number of these internships. Securing a finance internship in 2014 required a strong academic record, relevant coursework (finance, accounting, economics), strong quantitative skills, and excellent communication abilities. Networking, attending career fairs, and tailoring resumes and cover letters to specific roles were crucial for success. Many companies utilized rigorous interview processes, including technical questions, case studies, and behavioral assessments to identify top candidates. A successful internship often served as a springboard for a full-time job offer after graduation, making these summer experiences highly valuable for students pursuing a career in finance. The competition reflected the recovering job market and heightened awareness of the value of early practical experience in a competitive field.