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INTERN DIARY: The first week has gone badly

After applying vigorously to almost every investment bank with a website, I was lucky enough to get ten interviews, and a further four offers. I put this above-average success down to perfecting applications after applying rather haphazardly for spring weeks the year before. After evaluating my future prospects and importantly intern salary, I decided which offer to accept.

They say first impressions are made within the first thirty seconds. With that in mind I was the last intern to arrive, after failing to take into account the unpredictability of public transport! There is no such thing as fashionably late in investment banking. Luckily for me however, HR were as badly prepared as me and didn't notice me saunter into the room sneakily twenty minutes late.

Talking to interns from previous years, I knew how important it was to have a good circle of friends within the group of interns that you could share your ups and downs with - well mostly downs as an intern in investment banking (with the long hours and an impossibly boring and full workload)!

Although many people say they are surprised when they meet the other interns, after so many interviews I felt at home. Most of the others are from Harvard or Oxbridge; I'm, not, but this wasn't an issue. Looking back to the first day now, I find it amusing how rigid and reserved everyone was, considering even though I have only known them for a week (that is how much time I have spent with them already!), they are nothing like the people I met initially. So, I introduced myself to everyone, which although was somewhat awkward at points, was necessary. And I quickly made a mental list of those I thought would make good friends.

The first day and the next went relatively quickly. There were numerous presentations about the various business areas within the bank, and general admin tasks. My intern programme consisted of two rotations, and during my interview I was asked for preferences which I communicated to them. When we were given a sheet listing the desks we would be rotating on, I was therefore shocked: neither of the desks were one of my preferences, and the first desk was risk rather than front office markets (which was what I applied for).

How was this possible? I went and told HR straight away and was told they would look into it ASAP.

So Wednesday came, and HR said they were still looking into it, so I had no option but to go onto my assigned desk. Within about five minutes of arriving I was given a mammoth project to do. My attempted reasoning to the MD of the desk that I was not supposed to be there fell on deaf ears; the only sympathy I got was that as I did not have any prior training I would not have to complete the project in its entirety.

The reason for the hold up I found out was that the HR lady who runs the markets division was pregnant and only worked two days a week (my buddy told me she was on her fourth consecutive baby!) People are extremely closely bunched together on the trading floor and you can hear someone's conversations desks away, and I quickly found out that the almost everyone had their own bone to pick with the lady in question.

So I spent the next two days attempting to get on with the project I had been given and trying to work out where the hell to start! As well as doing my best to give evils to the HR lady anytime her gaze wondered in my direction, which proved hard as she only worked two days a week.

Now the week is over, I can't help thinking I should have taken one of my other three offers! Everyone else seems to be getting on okay, while I have been completely thrown into the deep end and there is nothing I can do seemingly. Hopefully a miracle will strike next week!

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AUTHORAnonymous Insider Comment
  • An
    Anonymous
    7 July 2010

    Make a good impression....thats all I got to say...rather than moan about it, show that you're adaptable to changing situations and being out of your depth and in an unfamiliar situation...this can only work in your favour....nevertheless, this could just be a test.

  • He
    HeyBro
    6 July 2010

    Come-On mate, do you really expect anyone would put anything else than "front office market" on his preference list? Then, they can't put everyone on the same desk so they have to choose and in that case, sadly, Harvard/Oxbridge will be first served because of the name...

  • Fr
    Frenchie
    6 July 2010

    I understand your frustration mate!The first three weeks of my S&T internship were spent on a desk which was way too technical for my level so I ended up doing work for other people so was no real start there.Then got put onto a nice desk but since I hadn't been kicked in the butt the first time around seeing as I couldn't do anything I messed up the second rotation.

    In brief my advice is do your best for your MD, ask questions around because risk is an important for of the bank. If you do well the HR lady will hopefully be grateful that you did so well on a desk you weren't meant to be on due to her mistake and you might be able to get your favourite desk the second time around!

    Keep your head up, stay aware, MANAGE EXPECTATIONS and balance your time well between working on your project, keeping up with news/market levels and asking questions. Why i say balance your time well is because I ended up focusing on projects way too much because everything is so fast paced but that was a mistake, so don't do what I did :-)

    Good luck!

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