Prepping for summer/ imposter syndrome
Hi guys! Currently freaking out because I am realizing that the summer is coming up. While I smashed my interview and I had multiple interviews, I am super nervous because I have never taken a finance/accounting class before. I am taking a university seminar on IB, but is there literally anything I can do to prepare? Is it true that they will teach me everything I need to know on the job? Should I make an effort to memorize all of the formulas or trust that excel will have the functions built in?
Based on the most helpful WSO content, here’s what you need to know:
Excel Proficiency: While Excel has built-in functions, it's crucial to familiarize yourself with key formulas like VLOOKUP, HLOOKUP, INDEX MATCH, SUMIF, and IF statements. These are commonly used in financial modeling and will save you time during your internship. Practice shortcuts and formatting to improve efficiency.
Accounting Basics: Since you haven’t taken a finance or accounting class, brush up on the basics. Learn the structure of financial statements (Income Statement, Balance Sheet, and Cash Flow Statement) and understand key line items. This foundational knowledge will help you follow discussions and tasks more effectively.
Financial Modeling: Consider taking a crash course or using free resources like the WSO Free Financial Modeling Series. These lessons are taught by experienced professionals and can give you a head start on modeling techniques.
On-the-Job Learning: While they will teach you some things on the job, showing initiative and coming in with a basic understanding will set you apart. It’s better to be over-prepared than to rely solely on training.
Confidence and Imposter Syndrome: Remember, you earned this opportunity. Everyone starts somewhere, and it’s okay to feel nervous. Focus on learning and improving daily. Your willingness to ask questions and adapt will be noticed.
Networking and Mentorship: If possible, connect with someone who has interned at the same firm or in a similar role. They can provide insights into what to expect and how to prepare.
Taking these steps will help you feel more confident and prepared for your summer internship. Good luck—you’ve got this!
Sources: How to prepare for summer ASSOCIATE internship, Working In Big 4 Audit in London, Preparing for an IB internship, My Issues with Diversity Recruiting in Finance, To All Freshman and Sophomores
You will be fine. Google is your best friend. Check out a library if you don’t already have a Windows computer and learn how to navigate the OS and become comfortable with using Excel and PPT and that will put you ahead of 90% of the other SAs.
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