Intern Diary: Here’s how I got to spend my summer at UBS
This summer I will be working with the general industrials team in the investment banking division of UBS. Having won the UBS investment banking challenge in 2011, I applied for, and was subsequently offered, an internship at the firm.
The challenge was a great opportunity to get a realistic and practical understanding of investment banking and the work that goes into advising clients on potential corporate transactions.
My team was also able to deliver our presentation to very senior people in the bank, who have a great insight into the types of issues clients face on a day-to-day basis. It was rewarding that these experienced professionals revealed a lot about how best to tailor advice to clients. Meeting many bankers at the Sydney office was also an enticing element of the investment competition for a WA-based student like me.
The challenge lived up to its name
More specifically, the challenge required perseverance and determination. It was difficult and took up a lot of my time. I needed to be committed to achieving the goals I set at the start. My modeling and presentation skills were consistently being tested and improved throughout the three stages of the competition.
Creating the best presentation we could, both visually and content-wise, involved a high degree of attention to detail, technical skills and constant reworking. But all of this work has paid off because I believe that the skills I gained are as relevant to a career in investment banking as what I learnt at university. Participating in the challenge also helped me identify that investment banking was the place for me.
Moreover, reaching the national finals meant I was guaranteed a first-round interview for the UBS internship program. The interview was conducted over the phone because I live interstate. I then attended an assessment centre in Sydney, which involved a number of interviews, group tasks and presentations.
What I want from my internship
I applied for an internship because I wanted to gain experience in, and exposure to, a wide variety of investment banking advisory work. I enjoy the personal, client-facing aspect of investment banking, as against the market-focused nature of sales and trading, so the choice was easy for me.
An internship also gives you a terrific understanding of how an investment bank works and exactly what investment bankers do. It’s a critical step in deciding whether you’re suited to and would enjoy a graduate position in the sector.
Over the summer I am hoping to gain exposure to both strategy and valuation work. I am looking to leverage the knowledge of those around me to learn as much as I can throughout the nine-week programme. Within the general industrials team, I hope to work on transactions in a number of different business areas, each with their own idiosyncratic drivers and business conditions.
Andrew Gale is a UBS IBD intern in Sydney. He is studying for a Bachelor of Law and Commerce at the University of Western Australia.
