<p>I'm an upcoming junior in college that is interested in investment banking. I plan on applying for summer internships throughout the year at both big investment banks and some middle markets. Basically, I was wondering the steps I should take to prepare myself for landing a good summer internship in between my junior and senior year since it will be my last summer before entering the workplace. I realize how competitive i-banking is, and could use some advice from those that have gotten internships before, etc.</p>
<p>How much knowledge should I have about financial markets and finance in general before going into interviews? What sort of things can i read or study to increase my chances of standing out in an interview?</p>
<p>In terms of what you need to know, this all depends on your major - if you are a finance/accounting major, you should definitely be comfortable with valuation, financial statements, etc - if, however, you are a non-business major, you should be focused on more of the fit questions, but still have at least a basic understand of the financial statements - just so that you aren’t stumped by the most basic “walk me through the 3 financial statements” questions.</p>
<p>Next, in terms of next steps, you want to reach out to your alumni database and start networking as much as you can - of course, the better the school the attend - non vs semi vs target - the more alumni connections you will be able to make and utilize. Beyond that, you want to make sure you’ve got a solid resume and cover letter to showcase your skills. </p>
<p>Beyond that, while IB is your ultimate goal, don’t become entirely fixated on BB IB for SA opps - Don’t forget about MM and boutique shops or even other relevant fields such as S&T, consulting, boutique P/E, etc. Keep your options open and of course cast a wide net in terms of applications and networking.</p>