Pros and Cons of internships abroad
Just to give you guys a short introduction, I am an international student in a semi-target school. As an international student, I am only allowed - throughout my 4 years of school - a maximum one year of working experience. Therefore, I have to choose my internships well so as to not strike out by my junior year.
One of my solutions is to do internships domestically in the spring and fall and internships abroad in the summer. This means that most domestic internships will not be full-time internships. Will that work against me come my senior year when I apply for FT positions? My concern is that, while most students gain the exposure and develop connections with the U.S offices, I will be interning abroad. Adding to the fact that I am an international student, will this put me at an disadvantage?
For users who have interned abroad, how was your experience and what are the benefits and cons would you say about your internships abroad? I am targeting Singapore and HK.
Any wso users with past experiences abroad wanna comment on this?
Anyone? Bump
Bump...
I am currently trying to make a lot of decisions in terms of what I can do in the next two years. As an international student, I know part-time CPT is unlimited so that maybe my chance to do more internships in the U.S. But I would still personally like to know the pros and cons of internships abroad. WSO users, please enlighten me.
Cons: BB and boutique foreign regional offices are quite small with only relatively few bankers in locations such as Geneva, Paris, Moscow, JBerg, HK/Sing, etc...Consequently, it is harder to break in for recruiting as SA classes are smaller. Also, these tend to be very tight nit cultures and if you don't match the personality of the senior/junior bankers, you won't last long.
How to get Fall internship abroad? (Originally Posted: 01/29/2014)
I am a sophomore, studying in London next Fall semester. This summer I am interning in PWM at a BB in nyc. How would I go about getting an internship in London next fall? I was thinking about contacting some alum from the school that I'm studying at, but other than that I'm not sure. Any help would be great.
You will be in London as a sophomore in college. Enjoy the shit out of it. I spent a summer there and now know my biggest mistake in college was not doing a full semester abroad. Go to class during the week, travel to different countries on the weekend, go out to the pubs as much as humanly possible, and have the best semester of your life. You're doing yourself an injustice if you do otherwise.
Just my 2 cents.
I will be a junior actually. Anyways, I appreciate your advice. Will consider that.
Unless you work unpaid under the table or are a European citizen, you will not get an internship in London. No firm will sponsor a junior year fall part-time internship. Don't 'consider' what CodeBlue says: do it. Anything else is insane.
What I would do to go abroad again...
I stayed in Camden when I was there. I'm a huge gambler so journeyed to Leicester Square almost every night. You'll have a blast and be sure to travel as much as possible. I'm not sure how many times that you've been to Europe, but you'll find getting around to be quite easy. Personally, I loved Interlaken, Switzerland if you're into extreme sports.
Don't get a job... you'll regret the memories you're missing out on.
Do u think an internship abroad experience is necessary? (Originally Posted: 08/13/2015)
How do u think about intern abroad, I really wanna know your opinion...
i think it is important, an internship provides you a opportunity to see the real world and help you to find what you are really interested in.
Sophomore Internship ABROAD (Originally Posted: 08/08/2013)
I may not get the opportunity to study abroad, but I really do want to do something overseas... I would find it awesome to intern at a bank overseas. Which banks offer this type of internship and what is the process like in order to intern overseas (personally, I would think that Dubai, London, Switzerland, Germany, or Banglore would be dope)... Visa, interview, selection, etc.
Most banks have internship abroad, (i mostly hear of asian cities: Hong Kong and Singapore) though they are usually limited to juniors
Which ones in hk or singapore are for juniors?
I know GS has it for IBD and S&T. I also know BAML has it for S&T. I am sure others would have similar programs. Applications/interviews are obviously earlier than rest.
Would you apply to the asia department or the USa department then ask for transfer?
I think CLSA has something similar for their HK office. Not sure if still going on
Does the overseas recruitment differ from the one in the US? How will the employee look at your experience overseas?
I would love to hear the same feedback.
For those who've had internships abroad (Originally Posted: 05/12/2014)
Hi everyone,
(read title) - Did you move to another city then start cold calling/emailing for positions or did you cold call/e-mail and made sure you had an opportunity before leaving your home city?
I ask because I want to try for a summer internship in a bigger city about 5 hours away from the one I live in now. The problem is that I'm afraid if I cold call/e-mail from here, then go there for interviews and get rejected I'll have to come all the way back or keep paying rent for wherever I'll end up staying there.
In your experiences, what's been the best approach for you guys? How should I go about getting an internship abroad?
Edit By the way, for cover letters, do you write an entirely new one when I applying for each different firm or do you have one that you edit a little each time?
Did an internship in Frankfurt, Germany couple of years ago. Essentially started cold emailing/calling while i was still in school in Stuttgart. I wouldnt suggest moving until you have a job as its kind of unnecessary. No one will be scared off that you dont live in the city yet, they know youll move if they offer. As far as cover letters go i wrote a bunch of templates depending on the team i would be supporting and just tweaked them as needed. Id recommend doing something like that just because having read cover letters you can definitely tell when its just a stock template and people are cranking them out. Nice to read one that people might put even 2 extra minutes into.
Cold call and email.
I see...In regards to my cover letter. I'll look for templates online. As of right now I only have one.
I've been calling people like crazy all day today with little to no luck.
Ahhh man this is tough and I haven't even started invesment banking yet!! haha..
I might have to start looking at other cities too.
Thanks for the help guys. I'll be sure to annoy the forum with more questions should any arise lol.
Another note on this. Just my experience, but i found cold calling to be pretty much useless as no one would actually pickup, return calls, or actually talk to me when i got through. Might just be Germany but i found cold emailing to be a lot more useful. Im guessing that its less obvious that they arent doing actual work if they just write an email vs. having an MD or other associate/VP walk by and over hear them doing something not work related.
Pretty much just trying to get across that you might need to to alter your cold email/call strategy based on country or perceived work culture to make it more effective. I found apply for jobs in foreign countries to be more of a culture shock than actually living and going to school there.
What happens with me is, I call the secretary of firms who almost always puts me through the branch manager or provides their email. The manager hardly ever picks up, I leave a message and follow up or e-mail.
But I agree, I find e-mailing to be a tad bit more responsive. I've got little to show on my resume at the moment so I have to try to convince them best I can based on basically no provable credentials (haha.. :|)
Do you guys actually call the MDs? I'd feel like a bother. I've only ever spoken to one, he was kind, but very intimidating. He gave me a chance but after that I decided to start on the strategy I outlined about above. I'm going to try to start informational interviews soon too. Whatever works...
Hey by the way, if anyone's got any more strategies on how to go about getting an internship I'm all ears.
How do you acquire a summer international internship? (Originally Posted: 07/05/2015)
Edited.
Where are you from? If in Europe, start your career in Europe. If in US, start your career in US. If in Asia, start your career in Asia. ... Most BBs have structured international rotation programmes for when you've earned your stripes.
Problem is that in my area, finance is pretty small in comparison to the above 3. For instance, a bank might take at most 10 interns for the summer making it very difficult. Where as if I look elsewhere, I will have more spots but the competition will be undeniably stiffer.
Internships overseas (Originally Posted: 11/30/2012)
I'm an undergrad looking to get into management consulting, and I'm wondering what is the best way to use my two summers I have left as an undergrad. I did get an internship for this upcoming summer at one of the largest healthcare consulting firms in the world overseas, and I think it would be a great experience. However, I don't know how overseas experience is valued at large consulting firms here. Would I be better off staying domestically and working somewhere?
Thanks
yo..anybody?
If the firm is equally well-known domestically, then overseas is fine.
International Business Internships (Originally Posted: 12/01/2010)
Suggestions for internships for International Business?
Can you be more vague?
bump
-Investment banking (I'd advise internationally, you don't want to do an international internship in the country you live) -Consulting (I'd advise internationally, you don't want to do an international internship in the country you live) -Private equity (I'd advise internationally, you don't want to do an international internship in the country you live) -Hedge fund (I'd advise internationally, you don't want to do an international internship in the country you live)
...
In all seriousness, though, what type of industry are you interested in? Or is there a specific goal you're working towards?
International Internships? - Offer at a BB in India (Originally Posted: 02/25/2013)
I have an offer for a BB in India within the Securities division. I am likely going to take it, but I just wanted to see what the consensus was on international internships; are they viewed with as much prestige? I'm assuming it's largely the bank's name that counts.
I read that if you're planning on going to India to go 2-3 weeks early to let your immune system build up since you're likely to get sick when you first get there, is that true?
yea its always good to get a BB name on there. and the int'l experience always gives a great diverse experience and something to talk about.
Foreign internships? (Originally Posted: 08/01/2008)
im just a rising sophomore, but i just have a few questions. how competitive are internships in investment banking for BB's and MM's in london/paris area? from what i understand london is a bigger center for finance, but there are opportunities in paris.
thanks!
gfdgfd
well i guess i meant not just internships but more like a 2-3 year analyst role?
from what i see in other threads it seems that BB's would rather hire local, equally qualified talent for A&A positions.
Advice on finding internships abroad? (Originally Posted: 01/01/2013)
I'll be abroad for the spring and I wanted to find an internship during the semester. It's in Rio de Janeiro and I have no idea how to start. I'm keeping my eye on my school's career listings but no luck so far.
I'd love any advice or tips on how I should approach this. Thank you!
Just to clarify, are you are looking for an internship that is in Rio de Janeiro, or will you be in Rio de Janiero while you will be looking for an internship back home?
If you can speak Portuguese then you have an unreal advantage. Try applying for BTG Pactual.
Sorry guys for the confusion. I'm currently in the US looking for internships in Rio for the spring. Also, I can't speak Portuguese at all... so I'm not sure what kind of companies or even how to find these opportunities.
Start googling for "[firm type] [name of city]" and variations on that. Do Linkedin searches (or the local equivalent if there is on) for peeps in your sector.
Google local firms. Many of the company websites have a management page with contact info. Contact any analysts, associates, or directors and present yourself along with what skills you have. Ask for any available opportunities. This has worked for me multiple times.
Junior Year Summer Internship Abroad (Originally Posted: 07/29/2011)
Is it possible to do your junior year internship somewhere like China (or abroad in general) without knowing the language? I know this sounds kinda hopeful but are there ibanking or sales/ trading and the like internships abroad that require only English?
I may be wrong, but I think if you want to go abroad (especially asia), S&T is a good field to go for. You could also do IB or S&T in London
you can go abroad to major finacial centres - Hong Kong, London, may be even Singapore where you won't need any languages apart from English
Most major banks require fluency in the language of the country you are considering and will generally conduct the interviews in that language. I had to cancel an interview with the Tokyo office of a firm because I speak no Japanese and the language requirement was not on the application (not sure why I even got an interview as I didn't say I spoke the language on my resume...)
That said I did receive an offer from a U.S. firm (consulting) to work in Asia, so it is possible. Ended up taking a BB here instead. One of my coworkers did Beijing last summer and hated it though so you may want to reconsider.
Overseas Southeast Asia Internship (Originally Posted: 01/28/2012)
Hi everyone, I'm currently a sophomore in college at second-tier target school. I may have an opportunity for a summer internship overseas in Southeast Asia at JPM out of a connection. I'm from the States but have family there; however, I have no intent to work there and just want the experience. If I'm applying for internships my junior year, do you think this will look good on my resume and it could possibly get me an interview? Or will people see that there was no official application process. Thanks alot for your time and consideration.
... nobody cares about whether you go through an official application process. They'll look at your resume, see JPM + overseas experience, and be all like... "Cool beans. Might be worth taking a look at this one."
TL;DR? Go for it.
EDIT: On a side note - you might want to reconsider your decision not to work there. Assuming that you only speak English (at business-level proficiency), Southeast Asia probably has the best prospects for potential bankers. The BRIC countries need you to speak (P)R(preferably H, I'm guessing)C, and the US & EU are kinda in the middle of a huge shithole right now, with activity not likely to pick up significantly for quite a while.
Sent you a PM.
Internships while abroad (Originally Posted: 09/19/2010)
Here's my situation:
I'm a junior from Fordham University (NYC) spending two semesters at the University of Int'l Business and Economics in Beijing, China. I am trying to secure an internship here for the spring semester, but am unsure of how to go about this - I have limited contacts on this continent. Any suggestions?
Additionally, I want to intern for a top bank or consulting firm in NYC this summer. I'm wondering if anyone has ever secured an internship from abroad, what's the best way to approach this?
I already have one fortune 500 and a small investment firm on my resume. I'm wondering what the best way to proceed is. Thanks for your help.
What level is your Chinese? If it's at least decent I'm guessing you'll be able to find something, there's a lot of internships in finance over here (they pay little or nothing, but i'm guessing that's not a priority)... many of the firms need people to help polish their investment memos and presentation materials (they are full of fluent english speakers, but very low on native speakers who can really write professionally). There are a lot of Beijing expat websites - they are covered in apartment and internship listings... you might want to look at those.
Is that school in the university district or is it downtown? If it's all the way in haidian it might be tough for you, because that far from the CBD and also from the financial street... there are a lot of cool tech companies over there handing out internships though... I know Lenovo takes like ten trillion per semester, I worked there during the semester while i was abroad here
For the summer, it's hard to secure top jobs from over here, but possible... I interviewed w/ MBB while i was studying here for a job back in the US. If I were you I'd consider an internship at a big bank in either HK, Shanghai or Beijing for the summer afterwords. I know that UBS offers specialized summer internship programs in Beijing - another kid in my study abroad program a few years back did that - and pretty much all the banks have internships in HK... plus HK is fucking PYMP (though it's hot as balls in the summer).
This is my first semester taking the language, so I'm a bit limited in terms of trying to find an English only internship. I'll have to look into the UBS program, I didn't realize they offered one. Thanks for the heads up.
I've been talking to a Senior VP at JP Morgan I know and she has told me a skype interview is possible, but we shall see what come out of that.
There are a few postings on the job site of WSO that I'm in the process of applying for. I've also been looking at BCG and just met a guy at a bar over the weekend from The Economist. I'll have to check out Lenovo as well. I think any difficulties that arise trying to find a job will be well worth it for spending a year here. Was such the case for you?
http://jobs.echinacities.com/?gclid=CK6dj-K_k6QCFQEdbgod726oJA
hey sean,
hope you're loving life in china. it's cirincione, it's funny i'm right about to post a forum with questions about study abroad and interviewing and i ran across yours. good luck this year!
Yeah... I was lucky and my abroad program helped me find the internship at lenovo, but plenty of the other kids in my year were more resourceful and found stuff at other cool firms through their own efforts (I was kind of interested in Lenovo at the time since they had just bought the PC line from IBM - so i figured I'd be complacent and take what was handed to me)
The Economist would be sweet dude - clearly a very prestigious publication. I feel like that would stick out nicely on an resume. I have a friend who is an assistant for for another pimp ass magazine here in his spare time and it's pretty legit...
Yeah, I want to take this semester to really focus in on the language and explore the city; and try to make contacts. Then intern next semester and possibly the summer here. Thanks for the advice man. What firm do you work at? Are you enjoying working in the PRC?
PE Internship while abroad (Originally Posted: 01/26/2011)
Can I work here at all on my Visa (paid/unpaid)
Appreciate any real feedback.
you're not being greedy looking for experience while abroad - but money/pay is probably going to be hard. I'm not positive on this, but my gut tells me you cannot work for pay on your student visa.
A few years back I did an internship in Beijing while I was studying abroad there --- technically I was not allowed to receive pay and it had to be arranged through my university (since I was on a student visa). Some firms may be willing to slip you some cash under the table - but not likely.
10 hours a week?? Not sure a firm would agree to this.
With your BB experience as a sophomore, I'd say having some overseas PE internship won't really affect you one way or another. Regardless, it's probably not legally possible anyways.
I'm studying in Italy and I might know which listing you're looking at, since I used one some weeks ago to look for a PE internship, similar situation to yours.
I'm pretty knowleadgeble on PE in italy and the type of funds that are active here, if you need anything drop me a pm.
Do you know if we are allowed to work on the visa here?
If you are in florence i envy you... i studied there my soph. year and absolutely loved it. Don't get an internship just get wasted every single day and take naps at 2 p.m. to get ready for the night at Americano or Central Park.
Like IntPymp said, you have to look at your specific visa (prob student visa) and see what it allows. Also, some EU countries require work permits as well, which is a horribly long and drawn-out bureaucratic process. If you want to do this, your best bet is to set up an informal arrangement with the firm and probably receive no pay/pay under the table. Another option is to ask your study abroad program if they grant credit for internships, which could be much easier depending on your program. They may also have relationships with local firms.
I would also add that, although you seem to have plenty of free time, you should think for a second about the commitment you're making. Maybe it's a fantastic experience, or maybe a month down the road, you show up with a Chianti-induced hangover and regret the day you made the decision.
Damn, i am almost tempted to buy SB's to give to you just for making a Chianti reference.........almost.
Yeah bro, apparently 5,000 American kids here with 43 university programs? Unreal. I don't party that much but this week has already been unreal, if it weren't for the day-long orientation stuff all week I'd probably be napping like a boss.
Alright, I'll talk to the administrators tomorrow and see what the deal is. I'm not sure if any of the firms would be willing to do something under the table but I'll ask when I email next.
Ya Florence is just an American college campus inserted into Italy. Italians hate you there cause everyone just gets completely wasted all day and all night. I am a huge BSer and convinced my italian teacher that we needed to go to "Shot Cafe" and order in Italian because it would really reflect our understanding of italian....until i just said "Un Patron senor".
SB for Chianti! Which reminds me, I've been meaning to make a wine-specific post. It will probably be on French wine and will have nothing to do with Wall Street.
"I ate his liver with some fava beans and a nice Chianti"
Yep. Just got back in from another night, saw WAY too many stupid kids doing stupid things and perpetuating a stupid image. I want to travel every weekend if this is how sloppy it is here.
Florence is awesome. Don't worry about an internship - just network in your spare time so you can pick something up at a boutique/small firm when you get back. And make sure you hit up Rome, it's one hell of a city
Rome isn't that great. It's absurdly touristy, instead of Florence's long-term American presence it's a bunch of day-visitors and that gets old real quick. Not even a weekend trip, a long day trip's enough.
Running next to the Arno and dodging crack needles was the high point of my life.... Fuck i am soooo jealous of you being in Firenze.
Foreign Summer Internship (Originally Posted: 01/16/2011)
I'm wondering if anyone has any good resources in terms of finding a summer internship overseas, either in london or china (really anywhere outside the united states that would separate myself from the throngs of grads looking to go to wall street). I'm a junior at Bucknell, Economics major with a focus in finance. Any suggestions would be appreciated. Looking primarily at investment banks/wealth management firms/hedge funds.
Thanks!
Do you have any family overseas? Last summer, I convinced my uncle to let me work in his company's finance department (His company is a large manufacturer in South Asia). At the time, they were trying to acquire some smaller companies...I'm hoping that will give me some sort of an edge in interviews. Anyway, try reaching out to family and friends and see if they can hook you up with something. Personally, I'd say to not limit yourself to just IB, WM, and HF positions....see if you can get any kind of exposure in a finance role and go from there.
Yeah, utilizing overseas family connections is the most efficient and effective method to landing an internship abroad.
yeah, my father does business with someone involved with a HF in london...i forwarded him my resume and told me i'd be a great candidate because "summers are slow". which is what concerned me. I don't want to spend a summer getting coffee for people. yes, i understand these are the duties that come with the "intern" position, but if there were some sort of online source or some type of program that i may not have heard of, it might give me a better scope of whats out there. Ideally i'd like to be in China...
on another note...I took a look at this "AnEx Advantage" summer program that WSO is advertising...has anyone heard anything about/experienced/recommend it?
its all about networking. cold e-mail alums and ask them how they broke in, get them on the phone and ask them to pass your resume around. you're not gonna find a website with loads of china internships.
there are placement programs that you can pay for, but they're a bit pricey and personally i would never pay for any internship
I know someone who places kids in internships in China at a charge (he also arranges housing for the summer, a local cell phone etc...). It's a consulting firm called "marco polo internships"... not sure if their website is up yet.
PM me if you're interested and I'll give u his contact.
What are the language requirements for interns in countries like Spain, Switzerland, Sweden, etc. Can you work any of those places with just English and medium-advanced Spanish (not fluent)?
I was able to land two internships in two different countries with no personal connections. Words of advice: 1.) reach out to family/friend connections first [obviously], 2.) stay away from large companies (BB), 3.) start networking NOW, and 4.)if you don't come from money, start saving ( if your lucky enough to get an internship, 9 times out of 10 they won't be paying you [I was compensated with a living stipend]).
Personally, I would take your Dad's friend's offer in a heart beat. I would think your an idiot otherwise, sorry no offense here, but think how many well qualified candidates in London would jump at that offer.
Also, I have come across organizations that do act as an "internship headhunters" in foreign countries, I personally don't know anyone that has used them, but think they are a waste of money. You will have more success and better results if you did your own internship search.
He's actually right^^^^ Take an offer from a hedge fund in london... it doesn't really matter if they're busy or not. You will have worked at a hedge fund in london.
I don't think you can survive with "a little Chinese" in a professional environment when you are working with a boutique kind of company.
You sound very similar to the GI2C people here on the board. It's funny how you "invaded" it.
Could you maybe give a ballpark figure of your income?
The article sunbeam shared was published by "China-Job-Central" who has been exclusively advertising for a company called GI2C, so I would take everything with a grain of salt
Internship Abroad? (Originally Posted: 10/25/2012)
I was approached a few weeks ago with the opportunity to intern abroad, specifically in London. I would be going through a program that guarantees an internship in finance and they also take care of meals and housing. The cost is about $9,500 for 8 weeks and includes everything I mentioned above and a few extra perks. This will be my first internship and I know that interning abroad will be great experience but was wondering if any of you have done something similar? Is the experience abroad worth the cost of an unpaid internship?
this could either be a scam or a worthwhile opportunity but we have no way of knowing given the information provided. is this through a study abroad program at school? if it were me, i'd be very skeptical of an internship that i'd have to pay for, unless it's unpaid and credit has to be paid for, which never costs ~10k
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