GUEST COMMENT: What you should be doing NOW to prepare for your summer internship at an investment bank
Summer internships are nearly upon us. Given you're already losing much of your summer vacation to the City, preparing for the internship may seem an unnecessary hassle. But it's worth it, particularly if you want to convert your internship into an offer.
Contrary to what banks will tell you, the training programmes for internships can be poor. The more you do now to get ahead of the game, the better.
May I therefore politely suggest that you:
Read what has been sent to you
If your firm has given you books or pre-internship material - READ IT! Talk to your friends and see what other firms are giving out pre-internship. Copy their material and read that too. Be proactive about finding out what you'll need to know.
Familiarize yourself with Excel and PowerPoint
Make sure you have memorized every single short cut key.....I'm joking!
Just make sure you know the basics and you know how to drive your way round fluently -if you don't have to spend a week learning basic Excel shortcuts, it will give you an advantage.
Read the papers
Continue to read the FT and keep abreast of current affairs and goings on in the market.
I'm not suggesting you religiously read the FT cover to cover every day but make sure you are skimming the main sections and are gaining a good picture. Your primary focus should be the money and investing section. Read the front page, 'Moving the Market', and any article on currencies or commodities. Keep your eye on the themes.
Know the numbers
Make sure you know the key numbers. FTSE, Eurostoxx, The S&P 500, The Dow Jones, Oil, Gold, USD, GBP, JPY, EUR.
I'm not saying you need to know the EXACT number every day but the levels are important.
Gather intelligence
The most constructive way to prepare for an internship is intelligence gathering - work out how the internship operates, which desks you may be placed on, how the group operates.
Try to find out the name of the most influential person on each desk. Remember, it's the
senior person who will bid to hire you. Do all your ground work with the desk and impress the big dog when it really counts.
Go shopping
Make sure you have appropriate attire. Interns are often inappropriately dressed. It is always better to err on the side of smartness.
The author is a front office employee at a major US investment bank in London.
