To summers hitting the desks Monday v2

Any new tips that could helpful is greatly appreciated. Some input on what to expect from your experience...

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Comments (50)

May 31, 2018

Control what you can, remain positive no matter how boring the staffing may be, ask questions, speak with confidence and identify the good and bad apples early.

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May 31, 2018

Can you elaborate more on identifying the good and bad apples?

Funniest
Jun 2, 2018

Check for bruises around the skin/peel. Bruising makes the fruit more susceptible to infection.

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Jun 3, 2018

lmao!

Jun 1, 2018
  1. Be humble
  2. Always listen and wait for the other person to finish speaking
  3. Ask questions, but not questions that could be resolved with google
  4. When in doubt, ask the analyst before the associate, etc.
  5. Dont spin your wheels, if you cant figure it out on your own ask the appropriate person
  6. Learn - you won't know much no matter your background or team. Learn, ask questions, review old / precedent materials.
  7. Focus on making friends with the analysts / other interns
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May 31, 2018

There are analyst/associates that appreciate summers and help them learn the different facets of the job. Then there are the analyst/associates that insist on making your life miserable and pride themselves on insulting you in front of others. I witnessed a SA at my bank get yelled at everyday by a 3rd year who wanted a different intern in his group. Just be aware of the various actors.

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May 31, 2018

Thank you.

Do you have any tips for the training week?

May 31, 2018

Find the kids in your group and befriend them. If you don't come from a finance background pay close attention - if you do come from a finance background - be prepared to be bored.

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May 31, 2018

What if you are the only Summer Analyst in the group?

Jun 1, 2018

Cancel all of your weekend plans this summer.

Go For Chambers

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Jun 1, 2018

Aight. Any other tips for those who will be the sole Summer Analyst in their group?

Jun 1, 2018

Embrace it. I was the sole intern with a group at one point and it was amazing. I worked my ass off, but I got to see every good project and got to really get close with the junior bankers in the group. In order to succeed, you need to:

  • Be a very good communicator and be able to quickly and confidently articulate your capacity and what other stuff you have. You may not have a staffer, and everyone will want to dump on you since there are no other interns to share the load.
  • Be confident. Obviously don't be cocky but in order to do well, you need them to start seeing you as a first year and not an intern. So act like you belong, do the little things that help you fit in, and go above and beyond to show that you get them, their culture, and their work.
  • Be a tank. You're going to get your shit fucked up with work, but you need to just take it and continue to always ask if you can help out in other ways. I got on an awesome live deal that summer because despite being busy, I asked to help out with something shitty for that deal, did a great job, and got a VPs attention. You have to always have that extra bit of capacity and that nitrous boost available for when the important shit comes up, which means you need to be able to handle a lot of work without burning out. Key to that is being mentally tough, trying to work out and eat as well as possible, and being hungry. Can't teach the first and third, but hopefully you have them.

Good luck! Again, see this is an extraordinary opportunity, not some shitty thing. Being the only intern is awesome if you do it right.

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Jun 1, 2018

I was the sole intern in my group years ago, it's the best case scenario IMO because you're the only person being evaluated and you know that as long as you do a good job you'll get an offer.

Jun 1, 2018

Yeah but I am afraid that I will not know how I am performing compared to other Summer Analysts or whether I am meeting their expectations or not.

Jun 1, 2018

If they keep giving you more work, and you don't get corrected on making the same mistakes twice, you should be in good shape.

Jun 1, 2018

What Prescott said is accurate. Just have a good attitude, keep asking questions, and be proactive on stuff - if you have nothing to do, ask to sit by an analyst and watch them work, or ask if they have a good model that they suggest for you to look through for example.

Jun 1, 2018

Did that pussy Jared keep you on hold long? I eat that motherfuckers lunch every day

"He was an idiot! He was a bouncer who got his Series 7" - Josh Brown

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May 31, 2018

Top 3 suggestions:

1) Don't fuck up the same thing more than once
2) Be likeable / positive (don't complain)
3) Go to all the social events you are invited to

Your experience will vary depending on the bank, group, and your team so hard to give categorical advice on what to expect there. I would just mentally prepare to be in the office 9am to midnight four days a week (I was able to leave between 7 and 8 a few of my Fridays) and coming in the on weekends.

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May 31, 2018

also...don't be a "bro"....be friendly, be likable....be eagar to do work....don't think anything is above you...its not a frat house....be a professional....and friendly to everybody.

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May 31, 2018

Do your supervisors expect you to come in without them saying anything? Or is there like a dialogue that usually takes place before the weekend?

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Jun 4, 2018

You'll know if/when you have to come in on the weekends based on the analysts/associates you are working with.

Jun 1, 2018

Good advice on planning to be there relatively early and staying late - If you aren't busy try and find something to help with / be proactive. I always respected (and ultimately vouched for) the interns who appeared positive, friendly and down to earth.

You are trying to secure a job so do all you can to put yourself in a good position.

Jun 1, 2018

Any other tips on trying to become a good team member who adds or brings value to the team?

Jun 1, 2018

Figuring out how to utilize an intern is difficult sometimes. You don't know this kid, or how capable they are, and therefore what you can trust them with.

Do whatever you can to build credibility and inspire confidence on every project. And without being annoying, demonstrate that the easy things you are given to start with were in fact easy.

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Jun 1, 2018

How do you know what needs doing / your working hours? Contract says 9-5 (and i know this to be BS in practice when in the role) but how does this get confirmed eg time in the office and time to leave etc Does the manager tell you or HR staffer or do you need to instigate it? I dont want to be the one to bring up the conversation of my working hours; in fear of looking like a pussy and also uncommitted to the role.

Jun 3, 2018

9-5? Are you in the wrong forum?

It's actually pretty easy to figure out timing as a summer intern - you get there earlier than everyone and you leave the latest.

Be excellent to each other, and party on, dudes.
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Jun 5, 2018

Currently interning in PE. Wouldn't say leaving the latest makes sense if it's not required. No point in staying for facetime in my group, but I guess it may be different in IB.

Jun 5, 2018

It's different - you are trying to learn a lot over a very short period of time (10 weeks) so the more time you can put in, the better. Also gives you a realistic view of what working there full-time would be like if you put in the same amount of hours as the full-time analysts. What I am saying is, even if you're allowed to leave earlier, it may not be in your best interests to do so.

Be excellent to each other, and party on, dudes.
Jun 1, 2018

It is very unlikely that you know something that the analyst does not. Do not try to prove them wrong

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Jun 1, 2018

How often would the senior people try to raddle new SA/interns? How would one handle the situation given their abuse have no effect on the intern, even boring at times? Do you give them their satisfaction or just keep ignoring them?

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Jun 1, 2018

No matter what, the most important part of the job is undoubtedly satisfying the whimsical emotional impulses that drive the sadism of your bosses.

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Jun 1, 2018
Duc-Ho:

How often would the senior people try to raddle new SA/interns? How would one handle the situation given their abuse have no effect on the intern, even boring at times? Do you give them their satisfaction or just keep ignoring them?

Don't make comments like this either.

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Jun 1, 2018

If a keyboard flies towards your head from an enraged MD, just suck it up and take the hit. Not worth dodging it and making him/her angrier.

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Jun 1, 2018

Disagree. You need to pretend that you tried to dodge it, but take the hit nonetheless. This makes it more satisfying for your boss.

When Russel Crowe was an MD at my bank, SAs knew how to do their job...

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Jun 1, 2018

Should an intern seek out a 'mentor' from another group? Should one also go for coffee chats with other group(s) he may have an interest in or will that look bad on me?

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Jun 1, 2018

Go easy Thursday nights. Above all, DO NOT ARRIVE LATE. Ever. They won't really remember the work you do because your tasks will be pretty basic and easy. They will, however, remember the time you showed up late looking hungover af

Most Helpful
Jun 1, 2018

I did three BB and EB banking internships because I was just that asshole so here are some tips. None are particularly new or different than what's on here a gazillion times, but they're still not easy and I can't even begin to count the number of kids who fuck these up every summer.

  1. Put in the hours, even just for the facetime. Don't be the guy trying to weasel their way out on Thursday night when the full-times are getting stuffed. They will resent you and see you as nothing more than an entitled intern. That being said, don't let people know you're there for that reason or you'll come across as a brownnose. Find some useful shit to do, even if it's taking on extra boring work.
  2. Offer to help out, but within reason. Know your capacity and never offer if you can't follow through. Quickest thing to get you dinged is if you commit to getting something done for a busy junior banker and don't get it done and leave them swinging in the wind.
  3. Be a culture guy. I don't care where you are, every group prioritizes culture above almost everything else. Unless you're top 5 in your class at Wharton and are gonna model better than any full-time, whether you'd be a good guy to work with is the most important piece of information bankers use to figure out if you're worth a full-time. So go to the events, make jokes (gauge the group / bank tolerance for these though), and generally have a friendly disposition. Don't just be a yes man, because we all bitch in banking, but keep your complaining low key and in line with the full-times. Spend a week watching and then make your moves to integrate with the guys.
  4. Don't try and big dick people. I don't care if your dad is fucking Jamie Dimon, don't act like. Don't show up day one with your Gucci loafers and Jaeger watch thinking you're a dealmaker talking about all the guys your daddy knows. Don't try and name-drop your senior MD mentor at the firm or anything like that. Keep your connections back pocket. Trust me, everyone knows who you are and where you come from. Hell, half of them are probably from similar backgrounds. But they respect you if you don't act like it. Banking internships are a lot like pledging. The little shit who thinks his older brother entitles him to get it easy is the one who reveals themselves most needing of some "education."
  5. Don't be a cuck though. Bankers who make it have that secret killer instinct. They act humble as per above, but they know they're a fucking shark. You need to have that boost and that little bit of sicko there. Act humble, but don't be meek and submissive. Stand up for yourself, be confident, be direct, and act like you belong. Finding the balance between being both humble and confident is the hardest part so don't take it lightly.
  6. Going off that point, act like everything you do is being watched. It is. Banking is like gossip girl and people spend too much time in close proximity not to talk. People say shit and people will notice how you act, what you do, where are you are. Don't let that freak you out but be cognizant of it all the time. Especially at the social events / when you drink with colleagues. I can't tell you the number of kids I've seen fuck themselves a few beers in. Don't be those kids. You're better than that. You're a fucking investment banker so act like it.
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Jun 8, 2018

"You're a fucking investment banker so act like it" - awesome dude. Agreed, you are the top tier of society so be a man and scoff at the peasants who order the cheaper beer at happy hour.

I never would have thought to work hard and not be cocky at an internship, this was excellent advice. I'll pass this on to kids looking for banking internships.

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Jun 8, 2018

That's a pretty pathetic attempt to roast me. Take a lap and give it another go.

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Jun 12, 2018

harvest ched brah ur a scrub brah

Jun 1, 2018

Lots of things come to mind but top would be:
- Always look for the big picture. When given any task, ask what the context is and what it will be used for. This switches your mindset from pure processing to actually thinking about what the end goal is. It will also help you learn faster and enjoy the work more. Wish I figured that out my first day on the job
- Have a good attitude. Don't complain, don't be on your phone
- Ask if you can help out before you leave for the day
- Print your work and come up with a checklist of signing off on it before you pass it on (i.e check numbers first, then text, then footnotes, then consistency with other pages, etc etc.)

Best of luck. You all are in for a ride

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Jun 1, 2018

Work smart, not hard. Don't procrastinate. Keep your head low. Always ask if you can do extra work.

What concert costs 45 cents? 50 Cent feat. Nickelback.

Jun 1, 2018

Be hyper cautious about starting - or even participating in - bullpen conversations about analyst exit options, your friend who is interning at a more prestigious firm, or anything else along those lines.
Most of the people you'll be working with (associate on up) are or aspire to be career bankers, and while they understand that's not the path for everyone, they do expect you to give your all to the job for the two years you have it.

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Jun 2, 2018

-FILO - (First in, Last out) - it's a respect thing. Get in before your team and leave once all the analysts make their way out. It seems pointless but you have to put the time in and it certainly does not go unnoticed.
-Ask questions. I was under the impression that I was supposed to know a ton when I started as a SA, but its the exact opposite. Majority of the people you work with want to teach you about the business and are more than happy to walk you through different concepts.
-Network: Odds are you wont end up on the same desk you interned on for the next 10 years so you want to build your network at your firm and learn about the other teams/divisions. Same thing goes for the rest of your SA class. Get to know your class because ~75% of them will end up in the FT class and you want to have a network.
-Fit: In my opinion, 3/4 of the SA evaluations are for fit. If you can land the gig, odds are you're competent enough to figure out the finance concepts and the rest of the question is do they want to hang out with you. As mentioned above, you don't have to be a "bro" just be normal and have social skills, really not that hard. The more your desk/team likes you, the more they will pull for you when offers are going out.

These are the main things that stand out to me when I think back to being a SA last summer and ultimately got me an offer.

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Jun 3, 2018

Don't become a fu##ing Managing Intern - I met interns who were trying to manage their peers, interns trying to pitch companies to MDs to originate deals (!!!!!!), interns setting up training sessions to "train" their peers, interns dressing as VPs, interns offering always "great pieces of advice" when not needed.. this is the greatest mistake - be humble, rise your hand when you don't know something or when there are things to do or they are looking for a volunteer

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Jun 3, 2018

.

Jun 3, 2018

1) Attitude - I'll always take the kid who needs a few more Excel/PPT reps but doesn't complain once during the summer over the rock-star Excel guru who rolls his eyes whenever he gets 1 hr of busy work.

2) Make a good first impression - unfortunately they matter and can't be changed.

3) Attention to detail - print out your work before sending, double-check your emails, etc. Mistakes will happen and are expected, but multiple careless mistakes will hurt your reputation.

4) Best piece of advice I can give - make the life of the people above you / on your team easier. Manage the call log, send out meeting invites, offer to open that 6am call the day after Independence Day...etc. These small tasks always exist and someone has to do them. If the analyst/associate don't have to deal with them and trust you to handle them as the summer progresses, you're in a good spot.

If your existence makes my life easier, I'm going to bat for you when offers are being decided.

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Jun 8, 2018

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Jun 9, 2018
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