A Guide to Five of the Top Finance Internships

When it comes to entering the world of finance, snagging the right internship can open up unparalleled opportunities. According to a 2016 Vault.com survey, approximately 75% of finance interns receive full-time offers after completing their program. This is not surprising considering the skills and opportunities one gains while working at certain companies. Internships are an opportunity for undergraduate and graduate students to apply the skills that they learn in the classroom to real-life projects before entering the workforce. An internship program also gives participants the opportunity to network, helping them grow roots in the industry early on.

The application cycle for finance internships typically runs from the beginning of August or September to the end of December, with interviews taking place in January or February. With deadlines approaching before you know it, let’s take a look at five of the top finance internships.

Goldman Sachs Global Summer Internship

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The Goldman Sachs Global Summer Internship is one of the most sought after finance internships in the world. The program ranked fifth on Value.com’s list of Most Prestigious Internships in 2019 and receives thousands of qualified applicants each year.

The eight to ten week program spans cities all across the U.S. including in Atlanta, Chicago, Los Angeles, New York, Washington, DC, and many more. The program breaks into two sections: the Analyst intern program for those in their second or third year of an undergraduate program and the Associate program for those in their second or penultimate year of an advanced degree program.

Oftentimes, with prestige comes pay. Goldman's programs are some of the highest paid internships in the United States, with interns making up to 16K in one summer!
Part of the appeal of applying to Goldman Sachs lies in the firm’s historic reputation for maintaining the best clients, the best talent, and the best profit margins. While Goldman Sachs’s prestige may catch applicants attention, the program itself is well worth the effort of applying.

Participants start by attending an orientation to learn about the company’s culture, benefits, and responsibilities of joining the team. Interns then work on different projects to get relevant experience in their division. One intern said they had the opportunity to work on multiple deals.

“I was on four deals, two of which were live. There are very few places in which you get that type of exposure. Additionally, the analysts and associates were incredibly thoughtful and ensured we, as interns, were set up for success.”
Interns at Goldman Sachs are also exposed to networking opportunities within a supportive environment. Many said the supportive culture at Goldman Sachs is what makes the program so valuable.

“I really love and respect the culture at Goldman Sachs where new ideas and questions are always welcomed and people are always willing to talk to and help each other. The firm has put in a lot of efforts to organize such an insightful and fulfilling internship...”
There are a number of perks available to interns at Goldman Sachs, such as company subsidized meals, transportation when one works overtime, access to museums (in the New York offices), and gym access.

Goldman Sachs takes "equal opportunity employer" to another level by placing a huge emphasis on diversity. Candidates whose backgrounds are underrepresented in the industry are particularly encouraged to apply.
Goldman Sachs recruits summer interns at select schools. Application deadlines may vary depending on school. If Goldman Sachs does not recruit at your school, the deadline is Nov. 29th.

👉 Read more about working for Goldman Sachs here
Evercore Advisory Summer Analyst & Associate Program

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Another one of the most respected financial institutions in the world, Evercore offers a world-class internship experience. In 2020, Vault.com named Evercore’s Analyst and Associate program the Best Internship for Compensation & Benefit, the Best Internship for Employment Prospects, and the Best Investment Bank Internship.

Uniquely, Evercore offers two different ten-week internship programs: the Generalist program and the Direct Hire program. The Generalist program -- only offered in New York -- is designed to give interns exposure to a diverse range of industries by allowing them to work with senior bankers on several different projects. One former intern, who said they worked on six deals on five different industry teams, said the broad experience was the best part of the program.

“This was a true generalist experience, and allowed me to get a sense not only for the culture of the firm, but for the nuances of the different groups with whom I might be working next year. I also got exposure to a broad range of transactions - private sell-sides, public sell-sides, strategic reorganizations, etc. Overall, I came out of this summer experience having learned a tremendous amount about the industry, and I left excited to come back again full-time.”
The Direct Hire program offers interns a more specialized experience by focusing in a particular industry. These opportunities are offered in Chicago, Houston, New York, Menlo Park, and Toronto.

Interns daily tasks include “preparing for and attending client meetings, financial modeling, industry analysis, due diligence and process management and execution of transactions.”

Participants work closely with full time employees, who welcome questions and collaboration, said one 2019 intern.

“Everyone I worked with really cared about my learning, and would sacrifice their own free time to teach me something rather than doing it faster themselves.”
Evercore’s 2021 Summer Analyst recruitment period is already closed. The application deadline for the all 2021 Summer Associate programs is Dec. 13th.

Morgan Stanley Summer Analyst & Associate Program

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In a promotional video, a former intern said at Morgan Stanley “you get all the, kind of, fast-pace, dynamic action of a start-up plus the stability and resources of a big company.” Its reputation for involving interns, while providing more than enough resources, is what sets it apart from others.

Ranked 12th on Vault.com’s Prestigious Internship List, the Morgan Stanley Summer Analyst and Associate Program receives thousands of applications each year. In 2018 alone, the firm received 100,000 applications for 1,000 intern positions.

Morgan Stanley does its best to get interns involved with work. Participants in the program will have the opportunity to contribute to a team as a fully-functioning member, work on live transactions, and create their own project. One intern said:

“A great place to work. Management is helpful and willing to teach, while the Financial Advisors are all intelligent and offer numerous opportunities to develop your knowledge of wealth management.”
Due to the coronavirus pandemic, Morgan Stanley moved their 2020 summer internships to a shortened online format, like many internship programs. Despite this, each work day remained a jammed pack experience for interns.

According to Efinancialcareers.com, interns were still prompted to participate in an introductory training and information sessions meant to teach them about the divisions at Morgan Stanley and how the firm works. After about two weeks, interns worked on different projects and business-development work within their respective teams.

Moving the program online created other issues for participants, specifically, for low-income participants who lodged complaints about accessibility. Many said they may not have the equipment necessary for a remote internship.

Morgan Stanley’s response to the situation points to their unique culture of support and dedication to creating the best internship program possible, regardless of circumstances. The firm made sure participants had adequate resources. Efinancialcareers.com reported that participants were given an iPhone XR, a computer monitor, a headset, a keyboard, and a mouse. In addition, interns also received a relocation package even if they were not relocating.

Application deadlines vary, but most summer positions are Nov. 8th.

Lazard Summer Analyst & Associate Program

Image Credit: Lazard's Twitter, linked here
As a company, Lazard does its best to differentiate itself from other large banking firms. In fact, their website says the experience at Lazard is “distinctly different” because new interns are highly visible and have countless opportunities for collaboration, even with senior employees.

“We will challenge you to be your best, because we view you as a future leader of the firm. For the right kind of person, the opportunities at Lazard are endless.”
The Lazard Summer Analyst and Summer Associate Program offers four different internship positions in Financial Advisory, Asset Management, Middle Market Advisory, and Corporate Finance.

As mentioned above, Lazard is all about giving interns a meaningful and substantial work experience. According to their website, day-to-day responsibilities for financial advisory interns include financial analysis and modeling, company and industry research, participating in the development of client presentations, and interactions with senior bankers and clients.

Reviews of the program from past participants are stellar. One past intern from the New York office said the active role was a pro of the program.

“The best aspect of the internship was the amount of responsibility that I was given from the day I hit the desk. I worked directly with co-workers across the entire hierarchy of my group, made real contributions on live transactions and attended multiple client meetings.”
Another aspect of the program that in many ways sets it apart from other top financial internship programs is the work-life balance. Many interns pointed out in reviews on Vault.com that the work hours, while long, are not any more than they need to be.

“I'm working less than most of my friends at different banks, both on weekends and during the week. The senior members of the team don't ask for needless turns of the work, but when they do ask you for something it matters,” said a 2019 Intern.
Application deadlines vary by position, school, and location. Keep an eye on your university's job search platform, or set up job alerts to keep tabs on the company.

J.P. Morgan Chase Programs (Numerous)

Image Credit: JP Morgan website, linked here
J.P. Morgan Chase is a giant in the financial services industry. As the largest bank in the United States, it prides itself on doing “first-class business in a first-class way.” This not only guides the way they treat customers, but also how colleagues treat one another. Unsurprisingly, this principle also influences the way their top internship program runs.

The firm's ten to twelve week internship program was ranked as the 9th Most Prestigious Internship by Vault.com. The program has positions in a number of specific areas including corporate and investment banking and asset management. Each position’s specifics vary, but include some type of on-the-job experience, training, and work towards career progression.

For example, the Global Finance & Business Management Analyst Program is ten weeks in length. During the program, participants gain experience by working on a team and completing various tasks, like preparing external reporting, gathering internal and external data, and financial planning or budgeting.

In terms of training, these participants have a one day training along, supplemental events, and programs like speaker series, mentors, and other methods of professional development. According to their website, many of these analysts are offered full-time positions after completing the program.

One former intern that worked in Dallas, Texas said that the work environment was rather supportive.

“Management was helpful with any questions on a daily basis and instilled a productive work environment. Company occasionally provided social events for the employees to network and create a sense of community.” Indeed.com Dallas 2019
J.P. Morgan, like many other top finance firms, showcased its ability to adapt amid the coronavirus pandemic. In April of this year, the firm pushed back the start date of its internship program, which had more than 3,000 participants. Later that same month, the firm pushed all internships to an online format.

Application deadlines vary by school and program. Understand which role you want to apply for and plan accordingly.
Honorable Mention Finance Internships
While the five internship programs above stand out within the finance industry, there are many prestigious internship programs that look great on a resume and lead to fulfilling full-time jobs.

Here a list of ten more top finance internships, in no particular order:

Northwestern Mutual Financial Network​ (view)
Blackstone Group​ (view)
Credit Suisse​ (view)
Captial One​ (view)
Bank of America​ (view)
Deutsche Bank​ (view)
Barclays Investment Bank (Americas) (view)
William Blair Investment Banking Program​ (view)
Perella Weinberg Partners Advisory Summer Internship Program​ (view)
Baird (view)​
If you're interested in the accounting/finance realm but don't think you'll excel in a financial analyst role, don't worry. Many of these companies offer internships in risk management, supply chain, operations, human resources, and other traditional business roles. Some even offer rotational programs, where you can try out a variety of roles.

For more information on other positions at these financial institutions, check out their websites, or talk to your University career office.
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