I got an offer!! Now, I'm scared I'm over my head!! HELP?!
So I'm a non-target as it gets. I grinded to get this offer and now I'm really scared. I feel stupid meeting with the seniors in the office. I honestly have no idea what they are talking about half the time the other time I'll pick up a few keywords. How do I get ready for this internship? I need to learn as much as I can about fixed income, I wanna blow their socks off and show them they made the right call giving me this chance. I don't want to blow this opportunity. I feel everyone's expectations. It's killing me and that's why I can't turn to anyone in my life. so I'm here to ask you all, who have been on this mission. I don't think I'm very smart, I'm just hard working as fuck. and I hope that's enough. what can I do to learn and get better, and not come off as a complete idiot? I'm in a small office so my intern class is tiny so there isn't going to be much support from anyone.
Check out "Options, Futures, and Other Derivatives" by John C. Hull. It has proved really helpful to me, coming from a non-target, non-finance background.
Fantastic intro to derivatives and some related quantitative finance (things building up to the BSM like Brownian motion / stochastic processes, binomial trees, etc.) but perhaps a bit dense for someone just getting started. I would similarly recommend Fabozzi's Handbook of Fixed Income Securities on the fixed income side of things.
However, more useful to someone in your shoes may be the BIWS and Vault guides (you're their target audience), and/or Wall Street Prep courses. The former two can be found for free; the latter is a little pricey and harder to find for free but totally worth it in my opinion.
I completely agree with everyone's advice on not having to be an expert coming in and etc., but in case you wanted to do some reading anyway the above is where I'd start. Also extremely important is to read tons of markets starting now, and working knowledge of Excel is essential -- VBA and/or Python would be another added bonus.
Impostor Syndrome. That's what you have.
I have it too.
Most over-achievers have it.
Most people who always felt like they weren't prepared enough for the exam, then aced the exam, have it.
On one hand, feeling like you're not doing enough will push you to keep working.
But as you progress in your career, where you now have to client face and lead presentations, it might be an obstacle. But as an excel monkey behind doors, its a blessing.
Just remember, you're an intern. I don't mean that sarcastically, but no one expects anything from you. If you learn one thing during your internship, that's successful.
Take notes on everything Be calm, friendly, genuine, curious, interested & interesting Imagine how you are being perceived, put yourself in others shoes Do not be a suck-up blow hard
Don't be afraid to ask questions at appropriate moments. No one expects interns to know it all on day one. Most don't expect interns to know their ass from a hole in the ground on day one. They expect you to come in willing to work hard and learn. If someone uses a basic term you're not familiar with then just ask them what they mean. The only way this will get you into trouble is if you're asking the same question more than once. Take notes if you need.
You earned your spot. Keep up the hard work and you'll do well.
s&t is basically a networking internship. just be likeable and hardworking
First thing you need to do is to call all your friends and tell them to come get shit faced with you. Drink until you pass out and get laid. Figure it out tomorrow.
I manage our firm's summer analyst class, and I've never expected my interns to blow my socks off with their industry knowledge. In fact, it's my job as the one employing you for the internship to blow your socks off with my industry knowledge.
What I did expect from my interns was to always be ready for work, listen intently, have a great attitude, and work really hard.
In fact, I would highly recommend not showing-off like you're the smartest guy in the room. Truth be told that scenario doesn't even turn out well for smart people. Instead, I implore you to be a good student and work really hard. If you do you'll leave a great impression with everyone. Good luck with your internship!
Seconded. The most important thing is that you're keen and willing to learn. If you show that you care and put in the hours it will leave a better impression than memorizing a textbook.
While it's important to have a sound foundation as to "hit the ground running" people usually don't expect a kid to know the industry back to front.
Thanks so much for this! I will continue to read this every time I feel doubtful.
I have no advice but if it helps I’m in the exact same situation. Non-target, going into a small group, also in FI related, and never the smartest in a room but work my ass off... anyways you’re not alone, great advice above ^ let’s kill it.
lets get it!
That is a normal and healthy feeling to have, if you come in thinking "I got this" you will get rocked. No blowing socks off, just working hard, asking good questions, learning as much as you can.
The learning curve is steep, and you will learn to love that.
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