Financial Representative Intern
General Interview Information
Interview Details
A little more research revealed that the internship description was quite a bit different than what I expected from a Top 10 Finance Internship. It was a front-loaded sales job. Interns work with financial reps and do everything they do to manage a client's money, which sound great until you realize that you have to recruit your own clients. This means that your internship is going to be spent asking friends and family members to meet with you while you and a rep pitch them life insurance, until you build a solid client base.
During the interview, the head financial rep pitched me softball finance questions regarding what I knew about risk management, along with basic stuff about ETFs, REITs, bonds, etc. but I soon hijacked the interview trying to figure out if there was any actual finance work to this internship. It appears that there is, to an extent. The head financial rep explained that the internship was about 25% case analysis, and 75% meeting with clients to explain your analysis and the financial solutions (i.e. Northwestern products) you suggest. Also, did I mention this is commission based?
I got the offer, which I declined. It just didn't seem like a good internship for a kid trying to break into IBD in the fall. I'd rather work unpaid at a boutique.
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