Help designing a startup finance internship
Hi all,
Currently a sophomore applying to 2025 IB/PE internships. Was just offered a 2024 internship at a startup (who just recently raised their series A). The CEO told me to send a list of things I'd like to work on and things I'm interested in (they are rebuilding their finance department, so there is not much structure for what I'd be doing).
I'm curious if anyone has some advice on some tangible things I can say that would be interesting/good for building a skill set and resume (targeting IB)
Any advice would be great; feel pretty out of my depth here
Based on the most helpful WSO content, crafting a meaningful internship experience at a startup, especially when targeting future Investment Banking (IB) or Private Equity (PE) roles, involves focusing on tasks that build relevant skills and demonstrate your ability to add value in a finance context. Here are some suggestions:
Financial Modeling and Analysis: Express interest in working on financial models for the startup. This could involve forecasting revenues, expenses, and cash flows. Highlight your eagerness to learn and apply financial modeling techniques, as this skill is crucial in IB and PE roles.
Market and Competitor Analysis: Offer to conduct market research and competitor analysis. Understanding the market landscape and how the startup positions itself can provide valuable insights. This experience can showcase your analytical skills and ability to derive strategic insights, both valuable in IB.
Fundraising and Capital Structure: Since the startup recently raised their Series A, showing interest in the fundraising process or exploring future fundraising strategies could be beneficial. Understanding different financing options and capital structure decisions is directly relevant to IB and PE.
Budgeting and Financial Planning: Propose to assist in budgeting and financial planning efforts. This can involve working with different departments to forecast future financial needs and helping to create a budget that aligns with the startup's strategic goals.
Due Diligence and Transaction Support: Although more common in later-stage companies, if there are any opportunities to assist in due diligence processes for potential partnerships, acquisitions, or further fundraising, express your interest. This experience is highly relevant to IB and PE.
Creating Financial Dashboards and Reports: Offer to help in developing financial dashboards or reports that provide insights into the startup's financial health. This can involve using Excel or financial reporting software. It's a great way to demonstrate your technical skills and understanding of key financial metrics.
Participate in Strategic Meetings: If possible, ask to sit in on strategic meetings related to finance or business development. This will give you a broader perspective on how financial decisions are made and how they impact the overall strategy of the company.
Remember, the key is to be proactive and seek out projects that not only interest you but also align with the skill set required in investment banking. Demonstrating initiative, the ability to learn quickly, and contributing to meaningful projects will make your internship experience stand out when applying for IB/PE internships in 2025.
Sources: https://www.wallstreetoasis.com/forum/venture-capital/internship-at-startup?customgpt=1, Q&A: 5 Things you can do to help convert your internship to an offer in Consulting, What can I do from home to help my chances for an internship next year?, Preparing for an IB internship, Non-Target Recruiting Guide Part I: Resume and Networking
Actually great Q.
1. congrats on the gig
To answer the question,
CEO would likely want you to figure out where they can make improvements in their business,
If it's SAAS, try to re-build their model, and identify places where they could optimize, or monetize better. He/she will definitely have thought about it before, but they'll be pumped to see you've learned their business, and might be able to bring fresh ideas.
Tell em you want to optimize for customer acquisition, build a model based on what you THINK their CAC is, and build out a channel model that you think they could reduce CAC with.
Maybe there's a different demo/market segment they could go after, and you want to build around that...
Ideas for ya.
In addition to the above, doing ARPU/ACV/CAC/NRR analysis based on cohort, customer type and product could be a big value add to identify the most profitable segments or types of customers.
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