Comprehensive List of Internships for Freshmen

gangstabanka's picture
Rank: Orangutan | banana points 279

Just thought I would start a thread to compile a list of finance-related internships (PWM, IB, PE, HF) for first years in college. I understand that these opportunities are slim and elusive.. hence the thread.

Harvey & Co - Newport Beach, CA
Merrill Lynch PWM - almost any major city

Please feel free to add on!

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Comments (45)

Dec 19, 2017

Can confirm on Harvey & Co. It's a merchant bank but pretty decent experience for freshman and directly relatable.

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Dec 20, 2017

Guess this is why I can't find any internships

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Dec 20, 2017

probably because they don't come to you and you actually have to cold email yourself. do your own legwork.

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Dec 21, 2017

this would be a lot more viable if you narrowed it down to a specific region

Dec 23, 2017

Trying to make it as comprehensive as possible --- but I'm personally located in the greater Atlanta area.

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Dec 22, 2017

As a first year what are the chances of finding an internship now? Is it too late? Or has the process not started yet? Especially if you cold email.

Dec 22, 2017

Banks are done recruitment, try buy side and boutique shops

Dec 23, 2017

I live in a fairly large city and when speaking with Merrill Lynch pwm I was told that the only offices that actually take interns are the ones located in NYC and Chicago? Any thoughts on this? Would just getting a pwm gig at a no-name family type place be fine?

Dec 23, 2017

Depending on your city some BBs take unpaid interns

Dec 23, 2017

That brings up another question.. Does the name brand or responsibility/experience carry more weight in freshman internships?

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Dec 25, 2017

bump

Dec 25, 2017

There are definitely programs for sophomores, not really as many for freshman tho. Most freshman do something like PWM or something similar. You're not late at all i think you still have plenty of time actually to look around

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Dec 25, 2017

Honestly, no there aren't. Find a boutique and start emailing.

Dec 25, 2017

"prestigious"

Dec 25, 2017

No, there's nothing openly available unless you have family connections. You do have a shot at getting a PWM or boutique IB internship if your work hard on cold emailing. In any case, it isn't necessary for you to have a financial internship this summer.

Dec 25, 2017

Curious how you have "prestigious business school" and " I do not believe to necessarily be a target." in the same sentence? lol. Anyways just reach out to friends or family first who are in the industry. You might be able to get a small PE shop or boutique IBD internship. I think that's your best bet along with PWM. No clue whether or not you'd be paid though. Maybe for college credit?

Dec 25, 2017

What I meant was that the business school is prestigious, but the overall school is nothing that the Investment banks would ever look at.

Dec 25, 2017
undefined:

What I meant was that the business school is prestigious, but the overall school is nothing that the Investment banks would ever look at.

Are you subtly trolling the rest of the University of Pennsylvania or by "prestigious" do to mean something obtuse and purposefully misleading like "regionally prestigious" or "prestigious in my state?"

Dec 25, 2017

I mean consistently top ten undergraduate business school for a while and one of the top finance programs in the country.

Dec 25, 2017

top 10 b-school and top finance but isn't at least a semi-target? Sounds like you go to college with a big sports presence like alabama and you're trying to make it sound like it's getting disrespected.

Dec 25, 2017

He probably goes to PITT but says Wharton. lol

Dec 25, 2017

It's Kelley, but from what I've heard, it's not really on any IB radar, even with its Investment Banking Workshop.

Dec 25, 2017

Pretty sure they still send a decent amount of kids to ib. Reach out to alumni on linkedin but if you think the target kids at harvard get BB summer analyst as freshmen because of the school name it doesn't always work like that if at all.

Dec 25, 2017

Don't apply through the website if it says it is for a different grade level. Try to find people at the company you want to work at and reach out to them. Keep networking and try to find a place where you can informally apply.

Dec 25, 2017

Dude...no one does work for freshmen year internship; I don't care if you interned in NYC or Nome, Alaska. The point of the freshmen internship is you file papers and then "talk about what your group did" and make it sound like you were contributing. That said, Detroit would be better, but it won't make that much of a difference. Getting the internship freshmen year shows ambition and is a resume filler/conversational piece during interviews. I had a freshman internship and I use it to say "I like the people, but I really wanted to do...... because its more client focused/fast paced/ect." during interviews. The best part is when you say that and your interviewer is a person who was able to transfer from MO to FO and understands what you are talking about.

Dec 25, 2017

So it would be filing paperwork and basically shadowing some people who do the real work? That's about all I could expect I guess.

Dec 25, 2017
jrt336:

So it would be filing paperwork and basically shadowing some people who do the real work? That's about all I could expect I guess.

Basically yeah. but I mean as long as you are personable and work hard you could request to do additional work. That work might be data entry or maybe looking at numbers. I worked in credit risk and had monitor if there was a breach of margin in the account. If there was a breach I made note of the account and told the guy which ones he needed to call/look at.....its slightly better than filing paperwork, but it's not exactly something meaningful. A lot of the time I felt like I was doing nothing/busy work to make it seem like I was doing something helpful. You forget it takes training to do all this stuff and most guys have way to much work to teach you how to do these simple tasks since they can do them themselves a lot of fast.....Just get the name on the resume and look for something big in sophomore year after you have more classes and "life" experience under your belt.

Dec 25, 2017
jrt336:

So it would be filing paperwork and basically shadowing some people who do the real work? That's about all I could expect I guess.

You could definitely do research work over the summer in your major. That would probably be the best option. The next best would be some sort of summer job. The guy who hires you for your sophomore year internship will want to see that you've held down a steady job in the past and won't flake out on him.

Dec 25, 2017

Would it be better to work somewhere like Bank of America, because it's a BB, than somewhere that's not, like Schwab?

Dec 25, 2017

Of course, if you can get it that is.

Dec 25, 2017

Haha yes. I live in the suburbs which at one point was the 3rd richest county in the country. I'm sure it's fallen, but there is still money here.

Dec 25, 2017

ESL Class

Dec 25, 2017

He's got one grammatical error, get off his dick.

Dec 25, 2017

BB PWM are a dime a dozen, but a lot of us have went up that track. Note that you will learn next to nothing though. It will be printing and filing. By law you cannot even get on the phone with clients. And a lot of these are unpaid so you go in on your own nickel.

Dec 25, 2017
ivoteforthatguy:

BB PWM are a dime a dozen, but a lot of us have went up that track. Note that you will learn next to nothing though. It will be printing and filing. By law you cannot even get on the phone with clients. And a lot of these are unpaid so you go in on your own nickel.

Not always true.
If you do end up doing PWM, focus on making processes more efficient (learn how to use macros [general and microsoft] and excel spreadsheets). Definitely useful for IB. Also, you can propose to try to find business development prospects for you FAs if they do some of that stuff - finding information is very relevant to banking.

Dec 25, 2017
euroazn:
ivoteforthatguy:

BB PWM are a dime a dozen, but a lot of us have went up that track. Note that you will learn next to nothing though. It will be printing and filing. By law you cannot even get on the phone with clients. And a lot of these are unpaid so you go in on your own nickel.

Not always true.
If you do end up doing PWM, focus on making processes more efficient (learn how to use macros [general and microsoft] and excel spreadsheets). Definitely useful for IB. Also, you can propose to try to find business development prospects for you FAs if they do some of that stuff - finding information is very relevant to banking.

YMMV according to your FA.

Dec 25, 2017
ivoteforthatguy:
euroazn:
ivoteforthatguy:

BB PWM are a dime a dozen, but a lot of us have went up that track. Note that you will learn next to nothing though. It will be printing and filing. By law you cannot even get on the phone with clients. And a lot of these are unpaid so you go in on your own nickel.

Not always true.
If you do end up doing PWM, focus on making processes more efficient (learn how to use macros [general and microsoft] and excel spreadsheets). Definitely useful for IB. Also, you can propose to try to find business development prospects for you FAs if they do some of that stuff - finding information is very relevant to banking.

YMMV according to your FA.

That's very true - hence I said "not always." Sometimes you do pure grunt work rather than semi-grunt work.

Dec 25, 2017
Dec 25, 2017