How do I Choose the Best Finance Internship?

Diane Goettel
Diane Goettel

Choosing the best finance internship means choosing an internship in the correct area of finance. One should choose an internship in a specialty that one is studying, or choose an internship in an area of finance where one would like to ultimately work. Also, choose a finance internship that offers the ability to make some good professional contacts and develop one's resume, that may lead to a job after graduation, and that offers some pay.

Landing an internship with a Wall Street firm is a prestigious opportunity.
Landing an internship with a Wall Street firm is a prestigious opportunity.

It is sometimes useful to take part in an internship that will offer insight into a part of one's intended field that one does not yet know much about. There are finance internships in the fields of insurance, accounting, securities, investments, and banking. When possible, it is also a benefit to be able to take part in an internship that offers either an hourly wage or a stipend. This is especially true for people who are interning instead of working a part-time job or a summer job.

Because investment banks often interact with foreign clients, it's helpful if a financial intern is fluent in a second language.
Because investment banks often interact with foreign clients, it's helpful if a financial intern is fluent in a second language.

It is also useful to search for a finance internship that could lead directly to an entry level position. There are a number of companies that groom interns in hopes of turning them into full-time employees once they complete their degrees. This is wonderful for students in their final years or final semesters of school. In order to find a finance internship that may turn into a full-time job, ask for recommendations from the career counseling center on campus and speak to other students who have already completed finance internships.

Recommendations are always a great way to begin a search for a finance internship. In addition to inquiring at the career counseling office, also ask professors. Sometimes professors have professional connections that they will use in order to help good students get internships. This is why it is best to ask for the recommendations or assistance of a professor with whom one has a good relationship. Academic advisers might also be able to offer advice and assistance for choosing the best finance internship.

Another reason why it is important to get recommendations and do some background research before beginning a finance internship is that some internships are far more edifying than others. While one student might learn a great deal during her finance internship, another might spend the entire summer or semester collecting lunch orders and making photocopies. While a certain amount of this type of work is part of most internships, the best finance internship is one that will also allow the intern to get a real inside look at the business and learn from that experience.

Diane Goettel
Diane Goettel

In addition to her work as a freelance writer for wiseGEEK, Diane is the executive editor of Black Lawrence Press, an independent publishing company based in upstate New York. She has also edited several anthologies, the e-newsletter Sapling, and The Adirondack Review. Diane has a B.A. from Sarah Lawrence College and an M.A. from Brooklyn College.

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