Non-Finance Internships as Experience Before I-Banking?

Career Opportunities & Internships Investment Banking
1

<p>As a freshman it's been incredibly hard to find a finance related internship without having personal questions, so I was wondering if people had ideas for some other things that might be equally as beneficial (or at least somewhat beneficial) during this first summer? </p>

<p>Currently I'm looking at the following:
- White House Internship
- Think Tanks
- US Treasury
- teaching English in China</p>

<p>Are there any of these that stick out in your view as providing me with a great background which would allow me to be competitive going for Investment Banking stuff after my sophomore year? Also, would you guys have any other suggestions? </p>

<p>Thanks!</p>

2

<p>All four of those appear to be great options for your freshman summer. Keep in mind it is actually very tough to be competitive for IB until your junior summer - but definitely go with the one out of those four that you like best and try your best for IB sophomore year (and if you can’t get IB, try to do something more finance related than one of the above opportunities). From a surface perspective, it seems the Treasury or a think tank would be my decision.</p>

3

<p>Try PWM. They’re relatively easy to land, even for a freshman.</p>

4

<p>^^ What is PWM? Thanks!</p>

5

<p>private wealth management i’d guess</p>

6

<p>^ It is Private Wealth Management, although I’ve had difficulty just finding positions to apply to. Would you happen to have any recommendations, or just a process of going about finding PWM jobs to apply to? Do I just search around a bank’s website, or do I email a couple asking if they have positions open for PWM? </p>

<p>I looked around a lot earlier when people were still accepting applications (Jan-Feb), but I feel as though a lot of those opportunities are starting to close.</p>

7

<p>Try all the Morgan Stanley Smith Barney branches around your area. Cold call them, email them, etc. That’s what I did my freshman year.</p>

8

<p>^ Thanks, I’ll definitely be sure to get on it tomorrow. Just wondering, did you have any luck with that?</p>

9

<p>Yup. Otherwise, I wouldn’t recommend it to other people. Helps with the sophomore internship search too.</p>

10

<p>Does anyone know how Operations positions are normally viewed? I know that PWM is seen as providing a lot of skills that be translational to later finance positions, but how are things within the firm that are non-finance related such as compliance and operations viewed?</p>

11

<p>Compliance and operations are back office, and thus not viewed as highly as PWM (PWM is far from deified, but it’s not shabby for a fresh or soph internships).</p>

12

<p>the places you’re looking at are fine…most people I know in banking took classes or traveled their freshman year</p>

13

<p>All those positions sound really interesting. Enjoy your freshman summer and come out with a good “story” to tell. It’ll do you well to appear like a well-rounded person with a personality and interesting work experience under your belt.</p>

14

<p>Thanks a lot for your advice everyone, it has truly been useful.</p>

15

<p>How about interning in a Senator’s office? One on the Senate Finance Committee.</p>