Tips for Prospective Finance Internship Applicants
- Spend Time on Your Cover Letter
- Don’t Underestimate the Skills You Have Gained in Prior Positions
- Do Your Research on the Firm
- Attend as Many Industry Events as Possible
- Be Ready For Your Interview
A finance internship is just one way for graduates to get their foot in the door when it comes to the highly-competitive and sometimes cutthroat financial industry. With the right educational background and positive attitude, it is possible for college students to eliminate their ‘starving student’ title and earn a title in finance with one of the top firms in the nation.
Related Resource: 50 Best Online Master of Finance Degree Programs
The only issue with interning in a finance-related field is that competition will always be fierce. According to CNBC, competition is highest for the Wall Street interns who average a monthly salary of $3,466. There are experienced accountants and other professionals seeking the top-paying positions with the most respected firms. So too, there are well-trained students looking to intern at these firms for experience to put on their resumes. Here area few tips to help you land a coveted finance internship.
Spend Time on Your Cover Letter
One of the most ignored pieces of an employment application today is the cover letter. Granted, in some industries, the cover letter isn’t extremely important. The recruiter is more focused on looking at professional experience. Since interns want to land a role without professional experience, spending time tailoring a cover letter is imperative.
A cover letter should be professional with personality. It should include company-specific information and a bit of a background on the applicant’s strengths. It’s best for all applicants to write a new cover letter each time they apply.
Don’t Underestimate the Skills You Have Gained in Prior Positions
College students aren’t always lucky enough to only attend school. A majority of students either have to earn part-time wages while in college or they have worked while attending high school. Just because a past position was not in finance doesn’t mean that the skills attained can’t be used during an internship.
When working in food service or retail employees gain the ability to multi-task and think in a customer-centric way. A skill set becomes more expansive as an employee starts to learn more functions. By evaluating what skills were needed in a role, applicants can highlight the professional skill set they can bring to the role.
Do Your Research on the Firm
A cover letter should include specific information as to why the applicant would like to work for the firm. This is what will get someone’s application attention. Doing research on a firm and how they are performing is great. It’s also wise to learn about company values and missions. These are pieces of knowledge interviewers will ask about.
Attend as Many Industry Events as Possible
Would-be interns might not have much professional financial experience but they can still immerse themselves in the industry to gain knowledge and network. It is good to be proactive and attend industry events. Attendees at campus events may speak to recruiters here and attendance can even be listed on a resume.
Be Ready For Your Interview
Obviously, the most important part of the application process is the interview. First, applicants must get the recruiters’ attention with a well-structured cover letter and resume. Next, applicants display their positive vibes and their personality in the face-to-face interview.
Applicants must be ready to bring their ‘A’ game to interviews. They should be well-groomed and presentable. They should also be prepared to answer hard-hitting questions about financial companies and why they chose their major. Perhaps the most difficult thing to do is ask the recruiter questions. However, this is important as it shows the applicant is a forward-thinker and engaged.
Conclusion
The idea of battling for a finance internship during or after completing a degree program is intimidating. There may be many other good students who walked the line with you and want the same finance internship opportunities. But when prospective interns are prepared the odds or landing that spot are much greater.
Related Resources:
