Performing (very) well as a Summer Analyst
Hey guys,
hope everyone's doing well.
I have been offered a summer internship in a BB starting in June.
I just wanted to have your opinions, and pieces of advice on the meaning of "performing well" during that time..
How were the summer interns you liked the most in your team.. what did you like about them ..
Would appreciate any feedback, as this is my dream job, and I'm hoping to make a long career out of it.
Thank you guys, wish you all a great day!
There are stark differences between summer analysts at GS/MS/JPM and the other shops. For this reason, it is essential that you undertake some tasks that wouldn't be required at less prestigious banks. The following tasks are essential (in my experience) if you are aiming for a return offer:
1) Assuming this is a summer stint, offer to break in your superior's flip flops for his autumn vacation. If you are unlucky enough to have different shoe sizes then I'm afraid you might get dinged...
2) Wear a Hermes tie. (This is a given)
3) Laugh at non-target kids in back-office. This is a ritual that every non-target must experience and why not start now.
4) Brag to your non-banking friends about your late night free cabs. I know a target kid (think Wharton/Yale/HBS) who got dinged because he didn't do this. He was interning at a BB (think GS/MS/JPM/Jefferies)
Good luck at your stint in GS/MS/JPM and remember that your duties at GS/MS/JPM are different to every other intern at other banks.
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Seriously. Don't ask stupid questions without at least trying to find the answer for yourself first. You will piss everyone off that way. However, most people will generally be more than happy to help you if you've made an honest effort to help yourself.
Do a good job.
Oh yeah, and don't tell anyone -- at least not the analysts or associates -- that banking is your "dream job."
Sorry guys I didn't mean to brag about it or anything, honestly .. The reason why I thought I should mention it is because I see it all the time on WSO, but now I realize there was no point in doing so and I apologize for that .. even though the answer was very funny, I'll just take that off the post, to leave room for serious comments ..
Be nice. Help out when possible and offer to help out. Get to know people on the desk. Well. This goes from the people mentoring you to anyone on the floor/office (MDs, VPs, and anyone below. Be known and well liked (probably the most important thing). Make sure people know you and think about you positively, so when it comes time to being made an offer... And if not, so that you'll get a good reference. Or if you decide you don't want to do banking, that you'll have good references...
This is general advice for any intern, really.
Good Luck
When people tell you to go home, even if the rest of the group is there, check in with any senior-ish people first and go home. It's not a trap.
Pretend like you really care about even the most tedious of tasks. Maximize effort when others are watching.
Accuracy is much more important than speed. Learn how to check your work. Ask questions if there's something you don't understand, never guess.
There are plenty of famous threads on WSO about how to get a return offer, things SAs do that are looked upon favorably, etc where the OP goes in depth and would be more helpful than advice people give in passing.
But here is one piece of knowledge I can drop on you resonating with mrb87:
Don't just simply ask questions and waste people's time when you could've spent 10 minutes on Google or through the IBD section of this forum and search for more resources than you'd probably read. No associate or analyst wants to answer the questions of a clueless SA who can't do a little amount of due diligence him/herself.
Smile. Show energy. Be proactive. Look sharp in the morning. Tie your tie perfectly, don't miss a spot shaving, wear a decent suit / shirt / tie, and comb your hair before you go. Show up early, and be consistent. You need to be in at 9:00? Show up at precisely 8:30am every. single. day.... Even if you go out the night before and you are extremely hung over. Show up looking sharp (as mentioned above) at exactly 8:30am. Fucking smile.
Be fast at your work, but also make sure you are thorough. My opinion, it is better to be accurate than fast. But, if you can do both, more power to you. Check everything several times, and print it out before your final glance. Don't make stupid mistakes, and make sure to CC everyone on your deal team. Effective communication is important.
Get close with an Analyst or two, and ask for feedback throughout your stint so you are aware of your shortcomings and strengths. Know yourself, and know where your faults lie. You will make mistakes. Show that you understood where your mistake was made, and try 120% to make sure it will never happen again. Ask for feedback from your Analyst friend. Repeat.
Organize your email efficiently, and make sure you don't EVER miss an email. Respond to your emails almost immediately, even if you are taking a shit and playing brickbreaker on your BlackBerry. Organize by projects, and never delete an email. Keep your inbox short, and make sure it is cleaned throughout the day. Fucking smile.
Keep your emails short, concise, and to the point. Don't write someone four paragraphs about something I can explain in one. Take notes on every call, even if you are not asked to do so.
Version control. Save your models or other important files as different versions every time a major change is made (v01, v02, v03,... vF). If something changes and you saved over an early version where your Analyst / Associate / whomever needs to go back for, you are screwed.
Show positive energy. I cant stress this enough. Make it look like you are enjoying the work, even if you are not. Be diligent, be respectful, be proactive, and be intelligent. Fucking smile.
The rest will come if you follow the above.
http://www.wallstreetoasis.com/blog/convert-your-summer-internship-into…
FYI
Thank you guys! Will do my best!
Agree with everything @LehmanMeHangin is saying. Great advice. To me, the most important thing is to give every single task the same level of carefulness, attention to detail and enthusiasm. That's fucking hard when you're being asked to tick numbers at 5 AM on a 100 page pitch and you feel like you haven't slept in a week, but in there somewhere, one of those numbers is wrong. Find it. That will earn you respect and make the analysts know that he can trust you with more important things. Remember, everything that you are asked to do, the analyst would have had to do himself if it wasn't for you.
Make sure everything you hand over is nicely formatted and learn the bank's formatting standards quickly. Make sure everyone can find and interpret every backup you make, even to that chart on p. 12 in the appendix no one cares about.
If you do make a mistake, make sure to be upfront about it. No one will be mad (after all, you're a SA) and the fix may be easier than you think. You don't know everything and you aren't expected to, but people need to be able to trust you.
That being said, never ask for things twice. If you don't understand something, drill down until you do so you won't have to be explained a second or third time.
Be friendly, cool, and offer your help, then you'll be fine.
Thank you very much, those are great pieces of advise, will do my best and stick to them.
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In decreasing order of importance:
1) Interact well with senior people and go for as many coffees / lunches as possible with different people with influence 2) Make sure your work is as error free as possible. Before sending anything off to be reviewed print it off and read through every single page with a highlighter / pen to sense-check calculations, formatting, spelling, grammar etc. 3) If you have a question, spend 10 minutes Googling first and then go to the analyst. Don't waste his time with questions easily answered on the internet but at the same time don't spend hours working out something which could be answered in 10 seconds and don't go making up your own workarounds. 4) Don't do anything stupid. 5) Don't dress like a moron. Normal grey / blue suit with white / blue shirts, tie, good quality shoes etc. 6) Be good at financial modelling (this is definitely the least important).
Never ceases to amaze me, the number of people who CHOOSE to respond to a thread they find irritating or a "waste of their time." You do realize that no one is FORCING you to read or respond to this thread other than yourself. So, if you're miffed or think you've had your time wasted, it's nobody's fault but your own.
The ironing is delicious
I'll give you something that I don't see mentioned too often:
Make sure you annotate everything you do and highlight things you aren't sure about. That means writing out in notes of some sort how you got your numbers and how you did stuff. From the perspective of an analyst/associate, it's much easier to read what you wrote you did than for them to essential just do the work themselves to check your stuff. Also, if you highlight what you don't know, people will trust you more and know what you are giving them is legit because they know you will let them know if you're not 100% certain on something. Don't overdo this, but as an SA last summer I found this incredibly helpful and I think it really made me stand out from the other interns.
Not often said but think through any assignment that you are handed.
For example, if you're told to complete a particular slide that involves an excel graph or two, ask yourself what is the purpose of the deck and what information has already been included, as well as the information that your slide is trying to convey.
It is easier to catch your own mistakes (like incorrect labels on X/Y axis) if you understand what is going on.
Sense check. Source in comments. Save on group/team shared folder. Never your hard drive. Map all the local printers. Know where the print room is. Be social and fun.
Advice on how to do well during internship (Originally Posted: 04/19/2008)
Hi all,
I ran a search and noticed that most threads here ask for advice on how to land an internship but nothing about how to do well once you land the summer gig. So for those who've done an internship, what are some general advice that you have for us newbies?
Possible topics:
1) How to stay awake and perform optimally assuming 80+ hours a week 2) Preparations before the internship (technicals?) 3) Hints on interacting with your MD and teammates 4) What kind of contacts to develop along the way 5) Or anything else you feel like talking about
Thanks for your advice!!
also very interested in hearing advice...i would assume the basics with working hard etc, but as a newbie also..looking for some good inside info =)
but I'm too lazy to re-type/summarize here.
I think there was also a lot of discussion on this topic recently in the forums, so check that out as well.
There was a thread titled "What to do and not to do as an SA" or something along those lines that was great. I cannot find it for the life of me though. If someone stumbles across it, please link it to this thread?
Thanks!
Got it:
http://www.wallstreetoasis.com/forums/the-dos-and-donts-for-summer-anal…
there's also something on mergersandacqusitions.com about SAs i remember, pretty good article
Run a search on "summer" there are about a half dozen threads on this.
How do you absolutely outperform during SA internship? (Originally Posted: 06/15/2013)
Hi guys,
Currently at a reputable firm with MDs that have a strong connection to guys at BBs/Boutiques as a sophomore (going into junior year).
The MDs have in the past gotten interns into those places, but apparently only interns that were highly valued and impressed them. Only 2 out of 10 interns were recommended in the past 4-5 years.
The job isn't exactly IBD, but buyside, so my question is how do I impress the hell out of the guys? Ever heard of how kids actually do it at their SA BB stint?
Study during free time? Coffee with the guys? Stay super late to get more work? Much appreciate any thoughts
Not make stupid mistakes like you did in your title....
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Stay up late with all analysts and associates. Ask good questions. Do great with technicals: valuation.
This made me laugh
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