Bank of england summmer internship for IB roles next year
As far as I know, the Bank of England is the only first-year summer internship (it's 6 weeks and paid) and receives like 1000-2000 apps for about 10-15 first-year places.
Would this be seen as desirable to UK banks for summer internships next year (perhaps over spring weeks) despite obviously not being in the same field/sector
I did the BoE summer internship (as well as three spring weeks) in my first year of undergrad, then was an IB (M&A) SA the next year. Never really talked about it that much at interview, but definitely looks good on the CV. Thing is it means you spend 2 whole summers in a row working (and then if you convert you tend to start early in the summer so you don’t get that summer either). No regrets but was a bit boring. Anyhow ask any questions you might have.
Hi, thanks so much for the reply, I have a fair few questions about the internship
So somehow I pretty much messed up spring week applications and I have no spring week offers (yet), and only one spring week interview. How good would the BoE internship be as like a replacement for this, would it maybe make the application stand out compared to spring weeks?
Also, I heard from a lot of older years that it's the most competitive first-year internship there is, like is this actually true and did you feel like it was, and if so, do recruiters from IB also recognise this and see it as impressive? Sorry about all the IB related questions ahaha, just trying to see what my chances realistically would be for next summer, given I now have this internship
Personally I think 1 IB spring week + the BoE internship on your CV should be fine when applying to summers. You might want to find some other IB finance-y spring weeks/experience programs to do (eg. asset management) which will pad things out but it’s not a big deal. No spring weeks is probably when it gets a bit difficult bc it’s hard to prove you were focused on IB from the beginning.
In regards to how recruiters perceive the BoE internship... think it varies bank by bank depending on who’s looking at applications (eg. 22-yr English-grad recruiter vs someone with more knowledge of finance). Don’t think it’s perceived badly by anyone, but there’s not necessarily a golden halo around it just because it’s apparently hard to get. At the later stages of applications (2nd and 3rd round interviews) it’s more can you talk about the experience and what you learnt from it.
Hi! Do you mind me asking what the application process was for the BoE internship?
Can’t really remember (and it might have changed as was a while back) but there was a HireVue at some point and a superday at the end. Don’t think I did a phone interview.
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Even if you don't get in it's not the ONLY internship aimed at first year students. It's just the most well known /structured one.
I think it's the only one related to economics/finance that is constructed as being for first years in particular
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BoE IMO as it’s more prestigious but am probably biased lol.
You’ll probably learn more useful things for actually doing the job at KPMG.
Any summer internship is good, don’t sweat it.
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