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Finance Internships: Summer 2013 – A Look Back

The summer of 2013 marked a significant period for aspiring finance professionals. The job market, still recovering from the 2008 financial crisis, presented both challenges and opportunities for students seeking finance internships.

Investment banking internships remained highly competitive. Major firms like Goldman Sachs, Morgan Stanley, and JP Morgan Chase saw an influx of applications. These roles typically involved long hours and intense workloads, but offered invaluable exposure to deal structuring, financial modeling, and market analysis. Interns often supported analysts and associates in preparing pitch books, conducting due diligence, and assisting with live transactions. The compensation was attractive, reflecting the demanding nature of the work and the potential for a full-time offer upon graduation. Competition extended beyond GPA and university prestige; strong networking skills and demonstrated interest in finance were crucial.

Beyond investment banking, opportunities existed in other areas of finance. Corporate finance internships at Fortune 500 companies provided experience in budgeting, forecasting, financial reporting, and internal controls. These roles offered a more balanced work-life environment compared to investment banking. Asset management firms, including BlackRock and Fidelity, offered internships focused on portfolio management, investment research, and trading. These internships were popular among students interested in the buy-side of finance.

Smaller firms and boutique investment banks also provided valuable internship experiences. While the brand recognition might not have been as strong as the bulge bracket firms, these opportunities often offered more hands-on experience and direct mentorship from senior professionals. Interns at smaller firms could find themselves involved in a wider range of tasks and have a greater impact on the firm’s operations.

Securing a finance internship in 2013 required a proactive approach. Students began their search early, often in the fall of the previous year. Networking events, career fairs, and informational interviews were crucial for making connections and learning about different firms and roles. Strong resumes and cover letters were essential for getting past the initial screening process. Technical skills, such as proficiency in Excel and financial modeling, were highly valued. Interview preparation was key, with candidates expected to answer behavioral questions and demonstrate their understanding of financial concepts.

The summer 2013 internship experience laid the groundwork for many successful careers in finance. It provided students with practical skills, industry knowledge, and valuable professional networks. Although the economic landscape has shifted since then, the core principles of hard work, dedication, and strong academic performance remain essential for securing finance internships and launching a career in this dynamic field.

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