Had an intern with Econ major with a US uni, work with us as a remotely and engaging with the team in Asia mostly through Slack/Zoom. Worked really hard on a early stage startup investment analysis while also managing time zone issues.
She came in with little experience around VC style investment research experience. When she concluded the internship, she left with clarity and conviction that she really wanted to get into buyside investment research. Long story short, she eventually ended up joining a major PE on the infrastructure investment and considers this internship as a key learning experience which gave her the career clarity.
I believe, while it does not fully replace an in office internship experience where you socialize with colleagues and get in person guidance from seniors, with all communication tools readily available, an opportunity to intern remotely could be similarly effective - all it requires is dedication from the intern and cooperation from the team that you intern with.
What's been you experience with a virtual internship?
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Virtual internships can indeed be highly effective when approached with the right mindset and support system. Based on the most helpful WSO content, here are some key takeaways and insights about virtual internships:
Communication is Key: Regularly engaging with your team through tools like Slack, Zoom, or email is crucial. Interns should proactively communicate with analysts, associates, or VPs whenever they receive a staffing or need clarification on tasks.
Dedication and Initiative: Interns who dedicate time to understanding their tasks, even with minimal prior experience, can excel. For example, spending 30-60 minutes trying to solve a problem before seeking help demonstrates initiative and problem-solving skills.
Skill Development: Virtual internships can provide significant learning opportunities. Tasks like early-stage investment analysis, due diligence, or building pitchbooks allow interns to develop technical skills and gain clarity about their career goals.
Challenges and Adaptability: While virtual internships lack the in-person networking and guidance of office settings, they teach adaptability. Managing time zones, navigating virtual tools, and maintaining focus in a remote environment are valuable skills.
Team Cooperation: The effectiveness of a virtual internship also depends on the team's willingness to engage with and support the intern. Providing clear instructions, feedback, and opportunities to work on meaningful projects can make a significant difference.
Career Impact: Many interns find that virtual internships provide clarity about their career aspirations. As highlighted in your example, the experience can be a stepping stone to prestigious roles in PE, VC, or other buyside opportunities.
Ultimately, while virtual internships may not fully replicate the in-office experience, they can be equally impactful with dedication from the intern and active support from the team.
Sources: How the hell are return offer candidates going to be assessed this summer?, FT: Wall Street banks explore option of ‘virtual internships’, Advice on how to perform well during a virtual summer internship, How are your virtual REPE internships going so far?
In finance I feel you don't really need to be in person to make an impact. During my remote finance internship, I was able to automate a lot of processes for other employees remotely, develop skills, and perform extensive research for my managers. btw I'm a US econ major, do you mind telling me how I can apply for the internship you're talking about? I've worked with tech startups in the past and am interested in early stage investment analysis
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