Investment banking internships are an important part of a career in finance, and they can offer an excellent start for anyone aspiring to the industry. Whether you’re in a graduate program or already in the workforce, an internship can open doors to a future in the industry. But before you start applying for internships, it’s important to understand the compensation landscape of investment banking internships. With a little research, you can land a well-paying internship.
The first thing to know about investment banking internships is that they require a certain level of commitment. You’ll need to be available to work around the clock, have a deep interest in investments, and have an interpersonal fit with the other interns. Although this may seem like a tall order, it’s true that if you’re passionate about this field, it’s possible to earn a great deal during an internship. The goal of an internship is to gain valuable experience and network with industry professionals. In addition, it also builds a sequence of work experience that you can use for networking and interviewing purposes. Often, analysts and associates who work with summer interns have significant clout in the industry and can recommend candidates to the bank.
As a result, top investment banks are paying their interns more money than ever. In fact, some of the largest firms in the world are paying their interns up to $16,000 per month.