Here are the 9 best internships at Wall Street banks
Internships are key to shaping your career path. They allow you to gain real world experience, and most importantly, let you test drive a company.
Good internships, however, are tough to get. It's especially intense on Wall Street, where thousands of applicants with stellar grades pour in each summer.
To make your life easier, Vault.com has surveyed more than 11,000 current and former interns to compile a list of best internships for 2017.
The respondents were asked to rate and review their own internship experiences based on various factors, such as compensation and meaningfulness of assignments. On a scale of 1 to 10, respondents rated their internship experiences in five main areas: interview process, quality of life, career development, compensation and benefits, and full-time employment prospects.
Vault then averaged the rating for each company and ranked them in order. Take a look at the 10 highest rated internships among investment banks:
9. Lazard Summer Analyst Internship ProgramReuters
Pros: "The people - everyone is willing to train and help you become great. We also had great exposure to the full teams, and the senior people."
Cons: "The internship was great, although the hours took some getting used to. That being said, I wouldn't have changed the experience."
Advice to potential interns: "I do think it comes down to not just culture or strength of the employer, but the combination of the two. You can end up with a great name, but not a great experience. Talk to as many people as you can, both employees and former interns/Analysts so you can get a true perspective on the experience you will have. You will learn more if you like the people you are with, but if you can like the people with whom you are staffed and you're doing meaningful work, it will be that much more rewarding."
8. Barclays Investment Bank (Americas) Front Office Summer Analyst and Associate ProgramsReuters
Pros: "The culture of the firm was top-notch. The HR department does a great job organizing events that help network interns with both senior and junior bankers across the firm."
Cons: "The work flow was very unpredictable. Sometimes I was incredibly busy; sometimes I was twiddling my thumbs."
Advice to potential interns: "In general, Barclays takes care of its interns. The summer experience can vary widely based on your group placement. Some groups have a fantastic culture; others are much more demanding. When thinking about group placement, find people in the bank you can trust to give you candid advice on which groups to preference and which groups to avoid."
7. Goldman Sachs Global Summer InternshipReuters
Pros: "Exposure to different roles within the division, culture of the workplace, access to senior level people, enjoyed getting to meet/spending time with everyone, very determined to find you a role within the firm. It was incredible that every intern was hired at the end of the summer, two of which in roles that they did not anticipate hiring for."
Cons: "Very little...only problem was that as an intern, you can do limited "real analyst work" in Sales & Trading since it requires certain licenses. This was not a surprise though."
Advice to Potential Interns: "Get to know everyone you can in the office, and attempt to create strong relationships with a few people. Once you do this, people will be willing to go out of their way to help create a position."
6. UBS Summer Internship ProgramReuters
Pros: "High level of MD attention, instant responsibility, deal flow."
Cons: "The hours were very long - due to deal flow."
Advice to potential interns: "UBS has placed itself in the perfect position to grow and benefit from market fundamentals. It is once of the few firms that understands how to manage its own balance sheet."
5. Bank of America Internship
Pros: "Networking events, co-workers, developing new skills, high pay, lots of learning and work."
Downers: "Final presentation."
Advice to potential interns: "There is a lot of technology within banks, and they shouldn't be discounted because they aren't strictly technical companies."
4. Robert W. Baird Internship ProgramGoogle Earth
Pros: "Flex scheduling, work environment, tasks trusted with networking opportunities"
Cons: "Lack of information given prior to start date."
Advice to potential interns: "Always talk to other associates and focus on doing the best no matter what the task is or how easy it may be."
3. William Blair Investment Banking ProgramGoogle Earth
Pros: "Work was very interesting and had impact on real M&A deals, people are patient, hardworking, and extremely smart."
Cons: "Work load was extremely volatile, was very unsure of how I was performing."
Advice to potential interns: "Take it if you can get it."
2. Perella Weinberg Partners Advisory Summer Internship ProgramReuters
Pros: "Learning the technical skills involved in investment banking, learning about various industries, seeing how management teams actually view certain industries and opportunities."
Cons: "The hours take time to get adjusted to. Once that adjustment is made it doesn't seem bad because the people at the firm are very smart and fun to work with and the content of the work takes the mind off of time."
Advice to potential interns: "Be thoughtful in what industry / what firm you want to work in. It's okay that you may not have worked in a certain industry before, but you need to speak with as many people as possible so you can get an idea of what your experience may be like. At the end of the day, it's just an internship, so don't be afraid to step outside of your comfort zone and try new things."
1. Evercore Advisory Summer Analyst and Summer Associate Program
Pros: "Significant roles on deal teams, opportunity to try multiple industries, summer associates seated together, outings to play golf and other outdoor activities, lunch and learns with senior leadership, mentorship programs."
Cons: "Generalist experience can vary."
Advice to potential interns: "Having talked to peers at other banks about their summer experiences, Evercore is by far the best internship on the Street."
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