Summer Internship in Boston?

Hi everyone,

I'm a first-semester finance and accounting major at a non-target state school in Massachusetts and I'm interested in firms that offer full-time summer internships to people in my situation. I'm mostly interested in PE and IB (obviously), but I'm more than open to experiencing different avenues within the industry (real estate, M&A, etc.). I am a 22 year old who transferred into finance from civil engineering and finding that I did not like the industry after completing two internships in Cambridge.

Any advice on the topic is appreciated.

Thank you for reading,
Nate

 

Many of the boutiques don't advertise summer analyst positions on their websites. This doesn't mean they don't accept temporary work from students or others looking to get some i-banking experience. I'd highly recommend you send your cover letter and resume their way, regardless of what the website says. Given your hit rate will likely be very low, I suggest you blast it off to as many places as you can find. I can't promise it will work, but if you've got a good resume, you should score some responses.

Also, some of the smaller places won't pay you, or they will pay you a marginal stipend. You may have to accept this in order to get experience.

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Best Response
CompBanker:
Many of the boutiques don't advertise summer analyst positions on their websites. This doesn't mean they don't accept temporary work from students or others looking to get some i-banking experience. I'd highly recommend you send your cover letter and resume their way, regardless of what the website says. Given your hit rate will likely be very low, I suggest you blast it off to as many places as you can find. I can't promise it will work, but if you've got a good resume, you should score some responses.

Also, some of the smaller places won't pay you, or they will pay you a marginal stipend. You may have to accept this in order to get experience.

I've seen my roommate send out incredibly unsuccessful mail merges before. Make sure you follow-up with the places you apply to by phone. While this may take some time, it's the best way to maximize your opportunities.
 

[quote=XPJ]http://lmgtfy.com/?q=finance+internships+in+Boston[/quote]

Not appropriate here.

To answer the original question, yes you can probably do this, but I am assuming you are not a citizen? That will, of course, make things difficult. Might be better off being unpaid and/or off the books to avoid this issue... In terms of actually finding an internship, obviously aim for smaller shops, and be persistent. For example, you see a company that has employee listings and a general line. First email the general line, give them a few days, call the main line, ask about internships, if they say no then start emailing VPs (one at a time, not simultaneously), space things out a little - give each step a few days. This gives you 5 or 6 opportunities to tell your story per shop, and you should be able to find hundreds of shops in Boston. Somebody will agree to talk to you. Just have a good story. I would say you might have the most luck in an IM shop.

 

I can speak only for hours in certain groups, particularly for Fidelity, SS, and John Hancock. Most of those as far as i know are your typical 40 hour weeks, maybe a little more. Pay at those three for interns are all under street ($14-20/hr) and SS's only subsidiary worth working at is SSgA, or State Street Global Advisors (i had a offer from there around ~$15 for some portfolio analysis/optimization). I'd imagine the pay at BNY and RBC is higher, but I'm honestly not sure.

Ultimately, as their pay is around the same range, don't worry about pay and hours and just pick the best opportunity that opens up the most doors for junior year recruiting. It's about the pay later...not now.

Note: Take everything with a grain of salt as I'm only a student your year in Boston.

 

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