Got the internship - Now what?

After grinding it out for a full year, i finally landed my coveted summer internship in S&T. Current or past interns, what should I be doing now that I have a full year to prepare myself to both maximize my time at the bank as well as get the return?

Fairly straightforward question

4 Comments
 

Congratulations on landing the internship! Based on the most helpful WSO content, here’s how you can prepare over the next year to maximize your experience and secure a return offer in S&T:

1. Build Your Technical Knowledge

  • Understand the Products: Familiarize yourself with the products and markets your desk might cover. If you're on a rotational program, research the desks you're interested in and create a rough list of preferences.
  • Stay Updated: Follow market news daily (e.g., Bloomberg, WSJ, Financial Times) and understand how macroeconomic events impact markets.
  • Practice Technical Skills: Brush up on Excel and learn shortcuts specific to your bank’s version of Office. This will save you time and make you more efficient.
  • Learn Trading Concepts: Study basic trading strategies, risk management, and pricing models. Books like Options, Futures, and Other Derivatives by John Hull can be helpful.

2. Develop Soft Skills

  • Tell Your Story: Be able to articulate your “why S&T/why this product” story confidently. Practice it until you can deliver it in your sleep, as everyone from analysts to MDs will ask you this.
  • Communication is Key: Learn to communicate effectively and concisely. This is critical when interacting with senior traders or clients.
  • Collaborate: Focus on adding value to your desk rather than competing with other interns. A collaborative attitude will set you apart.

3. Prepare for the Internship Environment

  • Be Detail-Oriented: S&T requires precision. Mistakes can be costly, so practice being meticulous in your work.
  • Own Your Mistakes: If you mess up, own it, fix it quickly, and learn from it. This shows maturity and resilience.
  • Stay Positive: The environment can be intense, and not everyone will be nice. Keep a positive attitude and focus on your work.

4. Network Strategically

  • Build Relationships: Start networking with alumni or professionals in S&T. This can help you gain insights into the role and make a good impression before you even start.
  • Seek Mentors: Identify people who can guide you during your internship. They can provide valuable feedback and advocate for you when it’s time to decide on return offers.

5. Focus on Execution During the Internship

  • Be in Sync with Your Desk: Understand the desk’s goals and align your work to support them. This is crucial for being seen as a valuable team member.
  • Add Value: Look for ways to contribute beyond your assigned tasks. For example, create well-formatted, client-ready documents or take the initiative to solve problems.
  • Work Hard: Set your mind to being a top performer. This means observing, taking initiative, and working twice as hard as others.

6. Mental and Physical Preparation

  • Stay Healthy: The internship can be demanding, so focus on staying in good shape and eating well.
  • Balance Your Life: Enjoy your free time now, as you’ll have less of it during the internship.

By following these steps, you’ll position yourself as a standout intern and maximize your chances of securing a return offer. Good luck!

Sources: Getting an S&T Return Offer - A Survival Guide for Future Interns, How should I prepare to be a good intern?, Just got an IB offer, how do I prepare?, Preparing for an IB internship, What do sophomores usually do for internships?

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Most Helpful

Take the first 2-3 weeks and ask as many questions as possible. You get a solid month where people won't care if you're asking questions, but after that grace period some people get annoyed by it. Try to get closer to some of the seniors, they'll give better advice. Don't try to act like you've worked on the desk for years, so don't try to get on the "in crowd" early, like inside jokes, etc. Some interns do that and it always bugs the seniors. Start reading, and read a lot. Being well informed is great in this industry. One of the more odd ones that worked out is to get really good at strategy and fast reaction games. We had one person with extremely fast reaction times on the desk, and he could process a ton of crap really well in his head. Turns out he was a really good smash player. 

Other than all that, don't try to stress it too much. My advice to juniors generally follows the idea that they hired you for a reason, so have some level of confidence in yourself(and don't give them a reason to fire you). 

 

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