Internships in Finance/Economics (thinking of doing a gap year)

Career Opportunities & Internships
1

<p>Ok guys, I really need your advice here:</p>

<p>I'm graduating if all goes well in August/September with a Bachelor degree in Economics. </p>

<p>I wanted to directly start my master degree in Finance (or Finance and Economics) abroad this fall but due to the fact that I had to postpone 1 mandatory exam I had to take, at least for now, to August, and that I still have to do my degree paper (50-70 pages or so) and I haven't done any applications yet for any universites (I don't even know which one I want to go to yet...), I won't be able to start a master degree in fall 2012. </p>

<p>I've missed quite a few deadlines for some top universities and I don't want to not go to one because I missed the deadline, I'd rather take a year off, get experience or something and go back to great school in fall 2013. </p>

<p>I could start a master degree at my current swiss uni but I don't want that, I want to go to a better university that has more international exposure and prestige in the finance/economics world. I also want to move out of this country so staying here and doing my master here will most surely result in me being a crappy manager in some regional bank. Again I could eventually do a master at my current uni but in the grand scheme of things, that's not what i want to do.</p>

<p>So now I don't know what I'm going to be doing for a year or half a year; I could start a degree in January; I know there are some universities that have a january intake option.</p>

<p>I'm thinking of using this time to do an internship (even 2 or 3). I have never done an intership and I was thinking this is the perfect time. A guy from Credit Suisse, who came to give a conference at our uni some months ago, said that we should try and do a few internships, at least 2, before we finish our master degree and step into the real world. So this would be ideal IMO, I'll get experience, make contacts for later in life, and will be able to take a year "off" from studying. What do you think?</p>

<p>With all the commercial banks, investment banks, central banks, financial institutions, capital equity firms, private banks, hedge funds, brokerages in the world, I must be able to find an intership somewhere between fall 2012 and fall 2013, maybe even 2, for example: one that lasts 3 months, the other 6 months. I'm willing to go abroad to do an internship and that's really what I would like, in the US preferably! it would be great to find an internship in either NY, Chicago, SF, Boston, LA, London, Paris, Frankfurt, Toronto,...</p>

<p>Is it hard to find internships in finance? Where should I start looking? On the banks' websites? seach engines? There's so many options to chose from.</p>

<p>I don't have a CV done yet, I'm guessing that's the first thing I should be doing...</p>

<p>Or should I do something completely different like ,for a year, go to some school that offers a one year program in finance or something to prepare me somehow for master degree?</p>

<p>Or should I do something else? jesus christ i have no freaking idea.</p>

<p>I'm really lost here guys and i'm freaking out, fall 2012 is soon here and I have no idea what I'm gonna do.</p>

2

<p>bump</p>

<p>I forgot to mention I’m Swiss and I am attending a Swiss university.</p>

3

<p>The difficulty in getting a finance internship depends on what kind you’re going for. I suppose the top tier is hedge funds, investment banking, and private equity. You’ll really need to be accomplished academically (as in high gpa, very good school) or have lots of work experience already under your belt to get into these. Many end up in private equity after doing investment banking. </p>

<p>There’s other options like corporate finance, private wealth management, and equity research that you’ll likely have a better shot at. Also, there are mid-market or small-market investment banks that tend to specialize more than the bulge-brackets and tend to be easier to get a job at. You’ll still have to have strong credentials and network effectively though.</p>

<p>If I were in your position, I would work for a few years first. Just having an internship (or two) along with a master’s won’t be as beneficial as you think. Once you get that full-time offer, chances are you’ll still be doing the same level work as other entry-level graduates with just a bachelor’s. You may even price yourself out of the market by having a master’s compared to these other people if the employer feels as though he’ll have to pay you more. And even if that doesn’t happen, what would the return on investment of your master’s have been? 0. </p>

<p>If you do actual work for a few years, you’ll have a better idea what industry/part of that industry you want to be in and what educational credentials are needed to help you further your career. It would also make you a stronger applicant in the eyes of top schools, say like LSE and their economics and finance degree, which is highly competitive to get into.</p>