How can I find internship opportunities as a freshman?
How can I find internship opportunities as a freshman?
Finance
Finance is an robust and rewarding career path that plays a crucial role in the global economy. It encompasses a wide range of opportunities, from investment banking and asset management to financial analysis and corporate finance. Professionals in this field help individuals and organizations make informed financial decisions, manage risk, and optimize their resources.
Timelines
01.
January to June of application year
Research business schools to figure out the ones that align with goals, begin GMAT (Graduate Management Admission Test) or GRE (Graduate Record Examinations) preparation
02.
June to August of application year
Take the GMAT or GRE, create list of business schools to apply to, enhance resume and draft essays, reach out to recommenders (likely direct supervisor and/or other higher-ups in place of employment)
03.
September to October of application year (Round 1)
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Finalize essays, fill out and submit applications to business schools (likely Round 1), prepare for interviews
04.
October to November of application year
Take business school interviews
05.
November to December of application year
Notification date for round 1 applicants
Postgraduate Education
Postgraduate Employment
01.
Freshman Year
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Engage in relevant extracurricular activities, such as finance, hedge fund, or business clubs to start building knowledge in the field and technical skills. If applicable, apply for diversity or early career programs offered at larger companies for the upcoming summer.
02.
Sophomore Year
In the fall, connect with professionals in finance—preferably alumni from your college—who can later refer you during the application process. Attend networking events and information sessions happening on campus and online. Use this time to learn more about the different sub-sectors of finance and the day-to-day life of analysts in different firms. Also begin technical interview preparation, learning the three core financial statements and various multiples examined when comparing companies. Also apply for sophomore summer internships in the fall. In the spring, focus on applying for junior summer internships and, if needed, more sophomore summer internships.
03.
Junior Year (Summer)​
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During junior summer, focus on internship performance. Return offers for full-time positions are common for well-performing individuals. Thus, it is essential to demonstrate a strong work ethic and good teamwork skills. Also, continue to network within the company and with other professionals.
04.
Senior Year
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If needed, apply for full-time positions highlighting past experience on resume and applications.
Industry Description
The finance industry is a critical sector that encompasses a broad range of businesses and services focused on managing money, investments, and financial instruments. It plays a vital role in the global economy by facilitating the flow of capital, enabling wealth creation, and managing financial risks. The finance industry is divided into several key segments, including banking, investment, insurance, and financial planning. These segments provide various services, such as lending, investing, asset management, risk management, and advisory services. Financial institutions range from large multinational banks to small, specialized advisory firms.
Career Possibilities
Private Equity
This sub-sector refers to investment firms that acquire equity ownership in private companies or take public companies private. These firms raise capital from institutional investors and high-net-worth individuals to fund their acquisitions. The primary goal is to improve the value of the companies they invest in through various strategic initiatives and eventually sell their stakes at a profit.
Investment Banking
This sub-sector encompasses a range of financial services provided to corporations, governments, and other institutions. These services include underwriting new debt and equity securities, facilitating mergers and acquisitions, offering advisory services, and providing market-making and trading of derivatives and equity securities.
Hedge Fund
This sub-sector refers to alternative investment vehicles that pool capital from accredited investors and employ a variety of strategies to earn active returns for their investors. These strategies can include leveraging, short selling, and derivatives trading, with the aim of generating high returns regardless of market conditions.