CAMPUS CHRONICLER: The absolute most important thing about the first week of your internship

Almost every internship has one thing in common, regardless of division or type or bank, they all have at least one week of classroom based training. With most internships starting next week and the week after, (with the exception of JP Morgan's programme which has already begun), it is imperative to know the most important thing to take away from this week.

Most banks' training is basic and aims to do no more than to give all the interns a foundation level of knowledge to ensure no-one is severely disadvantaged. The notable exception is Goldman Sachs' programme, which has two weeks of classroom based training and is very intense, giving its interns a high level overview of each asset class and product type.

If the classroom training is just a formality, is the first week a waste of time? Not at all. The first week is important, but not necessarily in the way that you think.

The first week is all about networking. There are three types of people you will need to network with, 1) Members of the business i.e. bankers, 2) HR i.e. the recruiters, 3) Fellow interns.

Fellow interns are the most important in my opinion. Your intern class is going to be the next generation of bankers. They will end up scattered across a vast range of companies all around the world. It is more likely that you will form a strong bond of friendship with them as opposed to the members of the business and HR.

Furthermore, having a good group of interns to share your ups and downs, and the experience in general is very important, as an internship (and lunchtime) can get quite lonely at times. The first week is the easiest time to make friends, when everyone is still getting to know one-another. It becomes much harder later.

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Networking with members of the business is also vital, not only in terms of increasing the chances of converting your internship into a graduate offer (their feedback is crucial in making any decision), but also in terms of future job prospects. Bankers move around frequently, and if you have an existing relationship with them, they will be much more likely to consider you for available positions.

So while you need to listen to the lessons during the first week, also make sure you come away with a stack of business cards, new friends and contact details. If you don't, it will have been a failure - no matter how well you know how to price a bond.