Students pursuing graduate degrees in Finance who want to put their theoretical knowledge to work in a real world work environments often choose finance internship opportunities that align with their future career goals. These internship positions are highly specialized and usually very competitive depending on the state of the job market so finance degree majors must thoroughly prepare early to obtain the best jobs. Before beginning their internship search, they often ask academic advisors or school career counselors what they should look for in a finance internship. Here are some characteristics of finance internship opportunities that help jump-start careers in finance.
Strong Emphasis Placed on Quantitative Analysis
Most financial related careers rely heavily on quantitative analytical skills for effective problem solving, and finance internships that give students opportunities to apply these skills in the workplace are especially beneficial. These positions typically have interns extracting and analyzing product or business unit data needed to conduct financial risk analysis and forecasting. These duties require candidates to understand which data points are important, the process for analyzing specific data elements and knowledge of how to interpret the results of their analysis. Challenging finance internships involve experienced mentors who often expect interns to follow through with logical recommendations and creative solutions to overcome any potential short falls identified.
Focused on Specialization Versus Generalized Multi-tasking
It is commonly understood that multi-tasking actually decreases productivity and not enhance it because the human brain is wired to only conduct one activity at a time. Internship environments that attempt to get student interns to work effectively on several unrelated financial activities at the same time are breeding grounds for failure. Students pursuing a Master of Finance degree, while arguably talented, should look for internship opportunities that allow them to focus on honing their skills in a particular finance specialization and not multi-tasking across several of them. This approach allows the intern to master processes, techniques, and tools that set them on the path of becoming subject matter experts instead of “jack of all trades but master of none.”
Introduction and Use of Industry Standard Analytical Tools
While information technology (IT) is generally subject to fast-moving changes, the industry standard business IT tools typically undergo less dramatic, periodic updates. Students who are introduced to these tools have opportunities to apply their use to real world issues usually without fear that the software will become obsolete within a year or two. While the business IT tools acquire new features, the basic applications generally stay the same making them worthwhile for student interns to learn for future employment opportunities.
Regular Demonstration of Communication Skills Among Stakeholders
In real world employment environments, the work products of technically talented workers get ignored when the workers are not able to effectively communicate their ideas among their colleagues and managers. An excellent finance internship sets interns up for future success by requiring them to regularly communicate their analytical output, financial reports and proposed solutions via written and verbal means. As the student workers become more comfortable with communicating their work, they often get better at the task especially when they receive constructive feedback from select mentors.
Conclusion
Students who have prepared themselves well with excellent academic achievements and active participation in related extracurricular, professional programs often get to choose among the best internships. With some guidance, they are able to identify which finance internship is actually the best for their skills and interests.
