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Summer Intern Pro-Tips and Pratfalls
 

TheKing's picture
O
 
Points)
 on 5/29/12 at 8:00pm
Summer Intern.jpg

Now that Memorial Day Weekend has come and gone, it’s about time for eager upper classmen to start their Summer Analyst stints. Having gone through a Summer Analyst program myself and having managed a number of SAs, both good and bad, I’d like to offer some advice to this year’s class of interns.

Without further ado, here are things to do and things to avoid if you want to end the summer with a job offer in-hand.

First, my top five to-dos:

1.) Always double-check your work: It doesn’t matter what you’re doing. Whether its spreading comps, putting together a DCF, or throwing logos on a slide, always double-check your work. You’ll earn a bad reputation fast if you make sloppy errors.

2.) Don’t be afraid to ask smart questions: No one expects SAs to know it all. In fact, it is anticipated that you’ll be relatively useless when you first start. You’re there to learn and prove yourself capable. Along the way, you’ll inevitably have lots of questions. But, be mindful, there are good and bad ways to ask questions. It’s important to always use the resources available to you to answer questions before going to an Analyst or Associate. If you can’t dig up the answer with some reasonable research, then you should feel comfortable asking a full-time peer. The last thing you want to do is pester a busy Analyst with questions you could’ve answered with 30 seconds of your own research.

3.) Know your role: Hard work and a good attitude go a long way towards getting an offer. You can have all the skills in the world and be a modeling whiz, but if you come off as a know-it-all jackass, you’re not getting an offer. Think of this as a summer-long version of the airport test given during interviews. If you get hired as a full-timer, you’re going to put in long hours and will spend a significant amount of your time with your team. If they think you’re a cocky asshole, you’re not going to last.

4.) Treat all of your work seriously, no matter how mundane and senseless it may seem: It doesn’t matter if you’ve been asked to put together a three statement model, dig for transaction comps, or compile a list of potential acquisition targets…treat all of your work seriously and put in your best effort on all of your tasks. Yes, some of your work will be more exciting than others, but you’re being judged on all of it. Plus, showing that you can crank on the boring stuff early on will enable you to work on more interesting projects later in the summer.

5.) Don’t be afraid to be a little social: If a group of Analysts are making a coffee run and invite you to join, go. If a VP invites you to pick up lunch with him, do it. It gives you an opportunity to get to know your colleagues on a lighter level and shows them that you’re not just a drone. You can only hurt yourself by consistently turning these things down. Plus, making small talk with folks of different ranks is an important skill, and some people are much better at this naturally than others.

Now that the hard stuff is done, here’s a quick list of five things to absolutely avoid doing during your term as an SA:

1.) Don’t complain about the job: No one likes a complainer, especially not the Analyst that’s sacrificed years off the end of his life since he started. Lots of the work will be mind numbing, but be sure to do it with a smile on your face.

2.) Get in on time and don’t duck out early: As simple as this should be, you’d be surprised at the number of interns who think it’s ok to come in late and leave early. Unfortunately, face time is a fact of life in banking. It’s no different for interns. Get in on time. Don’t leave early. Remember, it’s only 10 weeks of your life, you can handle it.

3.) Don’t abuse your privileges: So, your firm has a nice meal policy and free cabs after 8? Great. Take advantage but don’t go overboard. You don’t want to be ordering steaks from Sparks every night when everyone else is getting Energy Kitchen.

4.) Don’t wear a shirt with a contrasting collar: You are not an MD, you are a malleable piece of clay. Dress appropriately. People think this doesn’t happen, but I actually worked with an intern who wore the MD shirt. Literally everyone did a double take when they saw him. Not the right way to bring attention to yourself.

5.) Avoid political discussions: It’s best that people don’t know which way you swing when it comes to politics. The last thing you want to do is tout your views on the assault weapons ban when your Associate is a card carrying member of the NRA. Not a good look.

I’m sure there are some other tips out there, so feel free to post them below. If any current interns have questions, feel free to chime in as well.

Best of luck to everyone interning this summer.

Check out my WSO Blog
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Comments

WallStreetOasis.com's picture

great tips, thanks King.

EN
(Human, 12,072
 
Points)
 on 5/29/12 at 4:29pm

great tips, thanks King.

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AndyLouis's picture

yeah awesome post, and photo,

 
Points)
 on 5/29/12 at 4:30pm

yeah awesome post, and photo, well done

WSO's COO (Chief Operating Orangutan) | My story | Connect with me on Linkedin.

2013 WSO Conference

professionalmonkey's picture

Your photo accurately depicts

PE
 
Points)
 on 5/29/12 at 4:37pm

Your photo accurately depicts the first week of my SA...

JohnAnthony7's picture

Great post. Appreciate you

(Baboon, 152
 
Points)
 on 5/29/12 at 4:39pm

Great post. Appreciate you taking the time to share. Will be starting my SA stint next week in a markets related role. Any tips on how to hit the ground running? As my start date is approaching I guess my only worry is making a good first impression and what to expect out of the first week or 2 until I get the hang of things. Any specific suggestions here? Thanks again.

anaxi's picture

Be nice to everyone including

(Orangutan, 318
 
Points)
 on 5/29/12 at 4:45pm

Be nice to everyone including secretaries and admins. If you have a desk near a high traffic area, say Goodmorning to people when they walk in.

Your first week a lot of people will introduce themselves to you- write their names down and maybe a bullet or two. Knowing people's names and who they are from the beginning will pay huge dividends because they will likely remember your name too when its time to give out offers.

WSO Writer | View my blog

TheKing's picture

For those who don't

O
 
Points)
 on 5/29/12 at 4:57pm

For those who don't know...this is the MD shirt:

http://www.neimanmarcus.com/p/Stefano-Ricci-Contra...

Don't wear this as an intern. Hell, I wouldn't even wear it as an Analyst or Associate. It'll just make you look like a fool.

Also, anaxi is totally on point, be nice to EVERYONE and try and know a little bit about everyone you meet so you can build a rapport. Don't be weird about it, just try and take an interest in people and be pleasant.

If an admin doesn't like you, it could come back to haunt you.

Check out my WSO Blog

Old Grand-Dad's picture

anaxi: Your first week a lot

IB
 
Points)
 on 5/29/12 at 4:58pm
anaxi:

Your first week a lot of people will introduce themselves to you- write their names down and maybe a bullet or two. Knowing people's names and who they are from the beginning will pay huge dividends because they will likely remember your name too when its time to give out offers.

This might seem like a no brainer, but when you meet so many people it can be really easy to go through the motions of introductions without trying to learn who people are. I'm sure you remember meeting people in college where every first conversation is essentially the same. Stay engaged and make an effort to get to know people.

PTS's picture

If that is he most

IB
 
Points)
 on 5/29/12 at 5:00pm

If that is he most complicated printer you had to fix during your SA stint, consider yourself lucky

TheKing's picture

JohnAnthony7: Great post.

O
 
Points)
 on 5/29/12 at 5:06pm
JohnAnthony7:

Great post. Appreciate you taking the time to share. Will be starting my SA stint next week in a markets related role. Any tips on how to hit the ground running? As my start date is approaching I guess my only worry is making a good first impression and what to expect out of the first week or 2 until I get the hang of things. Any specific suggestions here? Thanks again.

Beyond the list above, just really being ready to bust your ass and put in a ton of work. People appreciate someone who's willing to work hard and have a good attitude. Some of the work will be awful, but a good attitude and generally high quality work is key. Obviously errors will happen from time to time, but you'll want to try your best to avoid careless mistakes. So, work hard, check your work, and be pleasant to work with. The hours will take a toll, so you've gotta be conscious of your attitude when you're running on little sleep.

Check out my WSO Blog

Mr. Hansen's picture

Old Grand-Dad: anaxi: Your

(Gorilla, 519
 
Points)
 on 5/29/12 at 5:12pm
Old Grand-Dad:
anaxi:

Your first week a lot of people will introduce themselves to you- write their names down and maybe a bullet or two. Knowing people's names and who they are from the beginning will pay huge dividends because they will likely remember your name too when its time to give out offers.

This might seem like a no brainer, but when you meet so many people it can be really easy to go through the motions of introductions without trying to learn who people are. I'm sure you remember meeting people in college where every first conversation is essentially the same. Stay engaged and make an effort to get to know people.

If you're provided with a name/phone extension list, highlight all the people you met and try to put a face to the name.

blastoise's picture

don't forget a belt

O
 
Points)
 on 5/29/12 at 5:39pm

don't forget a belt

George87's picture

All of the above + here's

IB
 
Points)
 on 5/29/12 at 6:10pm

All of the above + here's another quick tip which will make you easier to remember. I can't recall where I read it/picked it up but the book/paper said to find a problem in the office, and fix it! As an intern, i fixed one of the broken printers and also helped figure out what was wrong with the office shredder.

AndyLouis's picture

blastoise: don't forget a

 
Points)
 on 5/29/12 at 6:53pm
blastoise:

don't forget a belt

blastoise giving fashion advice, homepage asap

WSO's COO (Chief Operating Orangutan) | My story | Connect with me on Linkedin.

2013 WSO Conference

blastoise's picture

AndyLouis: blastoise: don't

O
 
Points)
 on 5/29/12 at 6:53pm
AndyLouis:
blastoise:

don't forget a belt

blastoise giving fashion advice, homepage asap

i didn't even pack one forgot by accident :/

AndyLouis's picture

blastoise: AndyLouis: bla

 
Points)
 on 5/29/12 at 7:05pm
blastoise:
AndyLouis:
blastoise:

don't forget a belt

blastoise giving fashion advice, homepage asap

i didn't even pack one forgot by accident :/

but trolltoise, you bring up a good point - does one HAVE to wear a belt if your pants fit fine?

WSO's COO (Chief Operating Orangutan) | My story | Connect with me on Linkedin.

2013 WSO Conference

blastoise's picture

yes you have to wear abelt

O
 
Points)
 on 5/29/12 at 7:17pm
professionalmonkey's picture

I'm getting a little tired of

PE
 
Points)
 on 5/29/12 at 7:18pm
In The Flesh's picture

Great stuff, King. Heck, some

HF
(Neanderthal, 2,809
 
Points)
 on 5/29/12 at 7:26pm

Head of Metal Website: www.headofmetal.com

https://twitter.com/headofmetal2012

stradler050's picture

Thanks for posting. Any

 
Points)
 on 5/29/12 at 7:43pm
TheKing's picture

I can only really comment on

O
 
Points)
 on 5/29/12 at 8:30pm

Check out my WSO Blog

a27wang's picture

Wow I never heard about the

 
Points)
 on 5/29/12 at 8:52pm
blackjack21's picture

Any tips to staying motivated

(Orangutan, 268
 
Points)
 on 5/29/12 at 9:25pm

http://sportstanker.blogspot.com/

helpmepleasethx's picture

I don't get why the

(Gorilla, 524
 
Points)
 on 5/29/12 at 10:07pm
Azimut's picture

TheKing: 4.) Don’t wear a

(Monkey, 58
 
Points)
 on 5/29/12 at 10:37pm
Conan Sobroen's picture

helpmepleasethx: I don't get

(Baboon, 141
 
Points)
 on 5/29/12 at 11:11pm

"Now watch this drive." -W.

TheKing's picture

No one cares if you wear

O
 
Points)
 on 5/29/12 at 11:13pm

Check out my WSO Blog

guts's picture

don't be afraid to flirt a

IB
 
Points)
 on 5/29/12 at 11:36pm
whateverittakes's picture

Do not, under any

IB
(King Kong, 1,056
 
Points)
 on 5/30/12 at 4:09am
DrizzyDrake's picture

f*ck the NRA

 
Points)
 on 5/30/12 at 10:42am
professionalmonkey's picture

DrizzyDrake: f*ck the

PE
 
Points)
 on 5/30/12 at 5:28pm
gamenumbers's picture

I have never seen a single

IB
(Gorilla, 678
 
Points)
 on 5/30/12 at 9:39pm
CoochieMane's picture

Awesome and helpful

 
Points)
 on 6/1/12 at 9:47am
blastoise's picture

professionalmonkey: I'm

O
 
Points)
 on 6/1/12 at 7:17pm
TonyPerkis's picture

make sure you act confident

AM
(King Kong, 1,575
 
Points)
 on 6/5/12 at 11:05am

I eat success for breakfast...with skim milk

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