2/18/10

I will be joining as Summer Associate Intern in IBD of a bulge bracket bank. I would appreciate any advice you may have based on your experience to be a successful intern. How to convert my internship into an offer? any advice...

Comments (8)

Best Response
2/18/10

arrive first. leave last.

remember: last one to leave, first one to get the offer. obviously if you are a super slow worker and can't finish work on time this rule would not apply :)

have a positive attitude and DO NOT COMPLAIN even to associates. bear in mind that everybody you're working with has at one point been in your shoes. nobody is going to be sympathetic. be excited to be there, and casually/formally let them know you want the offer.

keep your mouth shut with regards to what you are working on. don't talk shit to your friends at the bar about some big deal you are involved with. we had a summer intern do this and was overhead by somebody at a different bank. he called the MD and told him that the intern was blabbing, and the client found out too. MD went fucking ballistic and the intern lost his job. remember, you are working with inside information and it is not a joke.

likewise, put all sensitive documents inside your desk drawers when you leave at night. clean desk policy will be in effect and there is punishment for people at my bank who disobey. again, insider trading/compliance issues are taken seriously.

be on time. be aware of your group's schedule and be diligent about driving work towards completion to meet deadlines.

take notes about everything so if your MD says "what happened on that call?" you can easily remind him.

double check work. attention to detail is probably the main criteria upon which you will be judged.

remember that every single person you interact with will have an impact on whether you get an offer. impress eople regardless of the department. the people at the bank who train you in excel, the people who organize events for your intern class, the recruiters, the ops people, the compliance guys, the admins.....follow up with everybody and make extra effort in front of everybody. this goes double for the analysts and associates in your group.

be on top of your game with all the silly stuff: make sure you have the correct documentation to get your security badge, know how to file an expense report, how to log into the various computer systems, write down passwords/user names, set up and use voicemail, learn how to get access to research reports, and who to talk to in the bank if you have questions.

imo your MD is going to be looking for someone that he can rely on and make his life easy. that means no-mistakes, positive attitude, and ability to work hard. even if it means figuring out how to use the color printer and/or some other stupid bs that your MD/VP/Associate doesn't have time for. do not wait for assignments, if you have free time approach your associates and see if they need assistance. be likable.

don't bug the shit out of people with thousands of questions. have a few important ones at once. don't lie or pretend to know something you don't know.

be confident but not cocky. have opinions, but defer decision making to superiors. look people in the eye. firm handshake. stand tall. smile. be respectful. they will wonder if you have what it takes to be trusted with client relationships.

be super responsive via chat, email, and phone. if someone emails me a request, i will send back a quick chat "i'm on it" and that gives them confidence that everything is under control.

eat lunch/get coffee with people. offer to order dinner, and get the order correct. be careful about how much you have to drink if you socialize. be fun, but don't get shitfaced.

read your Ks & Qs. familiarize yourself with your banks research on the companies in your sector. i recommend printing out the most recent K/Q and keeping it handy. Use little post-its to mark the IS, BS, SCF, etc for ultra quick reference. People will casually ask questions like "how much debt is on the BS" and it pays to be precise in your answer.

know how to use excel shortcuts. print them out and paste them on the wall of your cube.

your email will be monitored. don't ever send personal email from work. send personal email from your phone, discreetly. don't ever email models, pitch books, etc to your personal email

just some thoughts off the top of my head. i am sure there are better threads. congrats on your position.

FWIW i am a first year associate and had a successful internship. roughly 45% of my intern class received FT offers. it may be helpful to get an MD perspective on things, but i'm pretty sure all my advice will apply.

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2/18/10

There is an awesome thread on this. Do a search for Summer Analyst advice.

--------------------------------------------------------
"I do not think there is any other quality so essential to success of any kind as the quality of perseverance. It overcom

2/18/10

Monument Man has some great advice. Even I learned a couple there lol

2/18/10

I'm going to print that post and hang it on my cube.

2/18/10

Wow!

A monumental post...I think if you can be like that, well you are on the right track.

> I will add my personal favorite:

Even if you are still drunk from last night, go to work, eat some oatmeal, drink a couple of Redbull and pretend that you have a pollen allergy... And avoid close conversation...

2/18/10

Post of the week by Monument Man.

*********************************
"The American father is never seen in London. He passes his life entirely in Wall Street and communicates with his family once a month by means of a telegram in cipher." - Oscar Wilde

In reply to gamenumbers
8/6/11

Hi
I am summer Associate intern at a Bulge Bracket Bank. I am more than half way through my internship. I feel i was slow in the beginning since I was from a non finance background but I feel I picked up well. I feel mostly I did everything you have listed in your post.....showed enthusiasm and motivation, worked really late hours, volunteered on projects reached out to associates for feedback. I would say I made some small mistakes but I don't think I made anything like a huge mistake. In my internship I worked mostly with analysts and associates and one MD.
However I noticed that this week my manager would give most of the projects to the other Associate intern who initially for the first 3 -4 weeks would leave very early like 10 or 11 never came on weekends, did not volunteer for work (we are both from non finance background) I just happened to see the staffing list for projects on his desk (I am not sure how did he get it) and saw that he has been assigned on 3-4 projects whereas I have been assigned on just one small project and all the projects he has are with very very senior people where as mine are again mostly with associates. Also my review with my staffer was very dry and not much appreciation. Am I correct to infer that I would not be getting an offer. If so what do you think I did wrong. Please help as to what can I do now and do you think decisions have been made or are made at the end

Thanks

remember: last one to leave, first one to get the offer. obviously if you are a super slow worker and can't finish work on time this rule would not apply :)

have a positive attitude and DO NOT COMPLAIN even to associates. bear in mind that everybody you're working with has at one point been in your shoes. nobody is going to be sympathetic. be excited to be there, and casually/formally let them know you want the offer.

keep your mouth shut with regards to what you are working on. don't talk shit to your friends at the bar about some big deal you are involved with. we had a summer intern do this and was overhead by somebody at a different bank. he called the MD and told him that the intern was blabbing, and the client found out too. MD went fucking ballistic and the intern lost his job. remember, you are working with inside information and it is not a joke.

likewise, put all sensitive documents inside your desk drawers when you leave at night. clean desk policy will be in effect and there is punishment for people at my bank who disobey. again, insider trading/compliance issues are taken seriously.

be on time. be aware of your group's schedule and be diligent about driving work towards completion to meet deadlines.

take notes about everything so if your MD says "what happened on that call?" you can easily remind him.

double check work. attention to detail is probably the main criteria upon which you will be judged.

remember that every single person you interact with will have an impact on whether you get an offer. impress eople regardless of the department. the people at the bank who train you in excel, the people who organize events for your intern class, the recruiters, the ops people, the compliance guys, the admins.....follow up with everybody and make extra effort in front of everybody. this goes double for the analysts and associates in your group.

be on top of your game with all the silly stuff: make sure you have the correct documentation to get your security badge, know how to file an expense report, how to log into the various computer systems, write down passwords/user names, set up and use voicemail, learn how to get access to research reports, and who to talk to in the bank if you have questions.

imo your MD is going to be looking for someone that he can rely on and make his life easy. that means no-mistakes, positive attitude, and ability to work hard. even if it means figuring out how to use the color printer and/or some other stupid bs that your MD/VP/Associate doesn't have time for. do not wait for assignments, if you have free time approach your associates and see if they need assistance. be likable.

don't bug the shit out of people with thousands of questions. have a few important ones at once. don't lie or pretend to know something you don't know.

be confident but not cocky. have opinions, but defer decision making to superiors. look people in the eye. firm handshake. stand tall. smile. be respectful. they will wonder if you have what it takes to be trusted with client relationships.

be super responsive via chat, email, and phone. if someone emails me a request, i will send back a quick chat "i'm on it" and that gives them confidence that everything is under control.

eat lunch/get coffee with people. offer to order dinner, and get the order correct. be careful about how much you have to drink if you socialize. be fun, but don't get shitfaced.

read your Ks & Qs. familiarize yourself with your banks research on the companies in your sector. i recommend printing out the most recent K/Q and keeping it handy. Use little post-its to mark the IS, BS, SCF, etc for ultra quick reference. People will casually ask questions like "how much debt is on the BS" and it pays to be precise in your answer.

know how to use excel shortcuts. print them out and paste them on the wall of your cube.

your email will be monitored. don't ever send personal email from work. send personal email from your phone, discreetly. don't ever email models, pitch books, etc to your personal email

just some thoughts off the top of my head. i am sure there are better threads. congrats on your position.

FWIW i am a first year associate and had a successful internship. roughly 45% of my intern class received FT offers. it may be helpful to get an MD perspective on things, but i'm pretty sure all my advice will apply.[/quote]

8/6/11

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