Internship selection step 2: Online application

Vague answers to application form questions are a key stumbling block.

The online form is a lengthy beast that begins with questions about your exam results and ends with opportunities to write several paragraphs on why you want to work for that particular bank, in that particular area, and the last time you demonstrated certain skills, eg leadership, teamworking.

In combination with the CV and covering letter, the online application form eliminates nearly 80% of people applying for investment banking internships.

There are two main reasons banks reject people at this stage: exam results and vagueness. Although most banks say exam results are not a reason for rejection per se, the reality is that most of them receive ample applications from students with three A grades at A level and a forecast 2.1 or 1st in their degree. If you have three Cs and are on track for a 2.2, your chances of success are therefore slim.

Vagueness on application forms typically relates to answers to the open ended questions about leadership skills, team working, or overcoming challenges to achieve a goal. Here you will need to offer very specific answers. "Find a good personal example, and follow it through," advises Joanne Scott, head of graduate recruitment at Morgan Stanley. She adds: "You need to say exactly what you did, what your contribution was and what you learned from it." Helen Bostock, head of graduate marketing at JP Morgan says applicants stand out in these sections if they can reference an exciting extra-curricular activity: teamwork during skydiving, for example.