The world of finance can seem like an intimidating place. Financial institutions often seem remote and distant if you don’t have any connections to that world. However, the world of finance is an exciting one and one that many people feel enticed about.
That’s why, if you want to get a job in finance, you need to start as quickly as possible and make sure that you stand out from other potential candidates.
The world of finance is attractive to a lot of people, and you will likely face competition from several different quarters. The best way to do this is by getting an internship with a financial institution.
You might be wondering, how on earth can you get such an internship? Surely it must be incredibly difficult? The truth is that it isn’t, and this article will tell you exactly how to get a finance internship.
Table of Contents
How To Get A Finance Internship – What Is A Finance Internship?
Before we get you started on getting your finance internship, let’s explain exactly what we mean by a finance internship.
A finance internship is an internship with a financial institution such as a bank or an NGO (aka a non-government organization, something like a think tank for example) or even potentially a government agency.
Internships are usually given out to those who are studying for a degree during the semester summer break. They are often unpaid due to the fact that internships are seen more as a means of getting students to interact with financial institutions and hopefully work for them in the future.
The idea is that whilst you might not get paid you will hopefully make contacts and if the bank or business likes you then you will be able to get a job with them in the future.
Now that we’ve explained what exactly a finance internship is, let’s move on to discussing what kind of finance internship you should apply for.
How To Get A Finance Internship – What Sort Of Internship Should You Apply For?
Deciding on what kind of finance internship you should apply for is slightly tricky. It depends on what kind of area of finance you want to get into.
For example, if you are interested in accounting and the world of financial accounting then you of course need to priorities getting an internship with a firm of accountants rather than an NGO or a bank.
Similarly, if you are more interested in high finance – the trading and selling of stocks and shares – then you need to ensure that you apply for an internship at a bank. It is also worth making sure that you know what kind of financial bank you want to have an internship with.
Some banks are more focused on ensuring that they deal with local matters whilst others, particularly larger banks like Barclays or Bank of America, are more concerned with balancing international as well as regional finance.
It is crucial when you are applying for a financial internship that you are certain before looking for internships that you know the specific area of the financial world you want to work in, or else you will find it difficult to get the internship you want.
Now we’ve explained exactly what kind of finance internships you can apply for, let’s turn to what kind of qualifications or experience you need to ensure that your finance internship application is successful.
How To Get A Finance Internship – What Kind Of Qualifications You Need
When you are applying for a finance internship, perhaps the most important thing that you need is to be either studying for a degree related to finance or to already have a degree related to economic studies.
The reason for this is that, because finance internships are so competitive, your prospective employers are keen to look out for a potential intern who already has a degree or is already studying for a degree in the area that they are interested in working in.
It makes sense from a company’s point of view that the person they are seeking to employ would be someone who would have experience in the financial world and be able to successfully work as an intern in such a business.
When you are writing your application resume to apply for a finance internship it is also worth ensuring that you focus on areas that can demonstrate that you have the necessary skills set to be a useful and competent intern for the financial company you are applying for.
Whilst you shouldn’t make it seem as if you are only concerned with the financial sector, it will be important to emphasise any extracurricular experience you have related to finance.
As applying to banks and NGOs is incredibly competitive it is important that you make sure you stand out and emphasizing areas in which you have experience working with the financial sector outside your degree will make it much more likely that you will get the internship you want than if you don’t have any such experience.
Why Getting A Finance Internship Is Important
Getting a finance internship is important because it can easily open doors that you previously didn’t think would be open for you.
If you want to get involved in the financial sector but come from a background that doesn’t have a great deal of connection to the financial sector, then by getting an internship you make it easier for yourself to get the opportunity to work in the environment of your dreams.
Ensuring that you get a finance internship will also mean that you have the experience of what it is really like to work in the financial sector. Many people feel as if they want to work in a particular sector but don’t know what it is really like until they have experienced it for themselves.
By getting a finance internship you will be able to crystallize your ambition and feel confident that the path you are taking is not only the right one for you but that you have a truly exciting and fulfilling career ahead of you.