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.
great tips, thanks King.
yeah awesome post, and photo, well done
Your photo accurately depicts the first week of my SA...
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.
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.
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.
For those who don't know...this is the MD shirt:
http://www.neimanmarcus.com/p/Stefano-Ricci-Contrast-Collar-Striped-Dre…
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.
If that is he most complicated printer you had to fix during your SA stint, consider yourself lucky
don't forget a belt
blastoise giving fashion advice, homepage asap
i didn't even pack one forgot by accident :/
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.
yes you have to wear abelt wtf
I'm getting a little tired of blastoise not being a troll. This internship is really gettin to ya!
i have to be careful what i say internship lol
Great stuff, King. Heck, some people on the job full time could use this!
Thanks for posting. Any advice specific to Summer Associates?
I can only really comment on tips for Summer Associates from the perspective of someone who was a FT Analyst and worked with a couple Summer Associates. The best advice I can give is to not be big headed about being from a top MBA program. Your educational pedigree does not mean you're exempt from getting your hands dirty and digging in. Also, even if you're a top ranked Harvard MBA candidate, the Analyst with a year under his belt will run circles around you, so be mindful of that and don't act too self-important.
Honestly, so much of it really just comes down to humility. If you work hard and have a good nature, you should be ok. Just be prepared to work really, really hard.
Other people, specifically MBAs who've been through the Summer Associate process, can likely give you better feedback.
Wow I never heard about the contrasting collar shirt issue, I've been wearing it for almost 5 months... :( What about cufflinks? how come you didn't mention that?
Any tips to staying motivated for an unpaid freshman summer intern in BB PWM with no provided company perks whatsoever?
I don't get why the contrasting collar is only for higher-ups? I think it looks ridiculous in general but why is that a signal of a higher-up? Also $600 for a dress shirt is absurd...
Its the same as anything else expensive. Its not ridiculous if you can afford it and wear one every day of the year and that's where you want to spend you money.
While this may be good advice for the States, it's not applicable in the rest of the world. Other than that, sound advice!
No one cares if you wear cufflinks as far as I've ever seen. That's really a matter of personal preference. I almost never wear cufflinks, though it's in part because I find them to be a bit of a pain in the ass in the mornings.
I suppose the more general advice with regards to work attire would be to dress appropriately. So, if your group wears suits and ties every day, wear a suit and tie every day. If they do business casual, dress for business casual. If you've got a meeting to go to, dress appropriately.
don't be afraid to flirt a little with the lonely male analysts (me) if you're cute. helps keep me sane.
Do not, under any circumstances, carry the emotional baggage of your relationship with your boyfriend or girlfriend into the office.
Last summer, we had an intern who foolishly bet on having the Independence Day weekend free and had her boyfriend of THREE months fly in. She got staffed on a pretty hairy project that required some weekend work. Feeling the pressure from her boyfriend who was already flying in, she cried in front of her associate to get a few days off.
If you can't go 10 weeks without seeing a partner you're unsure of committing to, you don't have the emotional constitution to do this job.
f*ck the NRA
F*ck you!
I have never seen a single person wear a contrast collar shirt in my years on the street. Maybe it's just me, but those shirts went out of style like 30 years ago.
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