What is expected of Interns?
My question is what does a summer analyst actually do and what is expected of them, considering their actual skills and knowledge is so limited?
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Don't know much about what junior SAs do but as a sophomore SA, I can share what I'm going through:
Analyst don't expect you to handle advanced models, but will expect you to execute administrative task quickly. You will have to work on multiple accounts at the same time, so you have to manage, prioritize tasks and deliver them accordingly to deadlines. If analysts instruct you over some tasks, listen and take not if need be, don't ask them again when they're doing their work. If you demonstrate reliability in administrative tasks, you will get to do some technical tasks and could be guided by analyst on financial modeling.
Yeah I'm a sophomore at a small LevFin group and they usually don't even let the full time analysts touch complicated models unless there is a manpower shortage which was a bit unusual. From my experience I was also given plenty of admin tasks (organizing files, due diligence, reviewing sell-side CIMs for potential borrowers) and writing some of the credit memos for internal approval.
What you are actually expected to perform as a junior SA has just been unclear to me, especially as people here are almost obsessing over "financial modeling", which seems to me to not even be expected of SAs coming in. Thanks for the response, I'm just trying to reconcile the reality as I've experienced it versus the plenty of SAs who brag about performing modeling as if they were a full time hire.
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