The finance world is ever-evolving. Over the last few decades, the role of a financial analyst has evolved and gained more popularity. Today, so many people from different walks of life seek financial advice and services.
This is why many people like you are seeking to study finance and get a finance internship. With an internship, you add practical experience to your classroom knowledge. This helps to develop your skillset and improve service delivery.
If you have been looking for how to get a finance internship with no breakthrough, this post was written for you. We will provide answers to the most common questions regarding this topic. Let’s dive straight in.
What is a Good Finance Internship?
A good internship affords you the opportunity to build upon the knowledge that you gained in class. Usually, at least half of the internship program focuses on professional duties such as project management and analysis. This is not to say that you won’t engage in some grunt work such as fetching lunch and making photocopies.
The average working hours overall for an intern are between 200 hours and 400 hours. Why that long? It is because finance firms look out for quite an amount of experience when hiring. They expect that you must have interned for a considerable number of hours to gain certain experience.
Many students going for internships look forward to getting paid. However, many firms don’t pay so well or wouldn’t pay you for an internship, except the affluent ones. If you are finding it difficult to get a paid internship, you may want to go for an unpaid one. Your consolation will be the networking opportunities and working experience that you will gain.
This brings us to the question, what is a good finance internship? Here are a few signs to look out for:
- There will be an internship coordinator that is focused on managing interns.
- The company has a written blueprint for interns where it explains its goals and policies for this program.
- The emphasis is on challenging work instead of menial work.
- Networking opportunities abound.
- Access to previous interns to find out about their experience.
Asides from these factors, you can also watch out for a few personal factors. In the end, a good finance internship is relative. It depends on what you hope to achieve at the end of the internship program.
How to Get a Finance Internship?
Getting a finance internship isn’t as daunting as everyone makes it seem. You may have even tried to apply for a few and have been rejected and you are wondering why. It is possible that you are missing out on some key factors. In this section, we will show you what you should do to get a finance internship.
It is impossible to get a finance internship, or any kind of internship at all, without first getting an education. By education, we mean college education. This means that if you are not already a college student, you must first apply to and get enrolled at a college.
Here, you will learn the basics of finance, financial analysis, and how to handle key financial processes. Employers lookout for individuals with a bachelor’s degree in finance. Some of them may be open to individuals with other finance-related qualifications.
Develop key finance skills
Asides from getting financial education, you must also develop key finance skills. A good way to do this is to become a member of finance-related student clubs. You can also attend finance seminars and mix with people who are ahead of you in this field.
Be proactive. Set up a trading account to test your skills frequently. Participate in as many stock pitch competitions as you can while in school. Doing all of this helps you to sharpen your finance skills. It also ensures that you gain sufficient practical knowledge to be considered for a finance internship.
Put your resume together
The more loaded your resume is, the higher your chance of landing a good internship. It may even be the difference between getting a paid internship and an unpaid one.
Find out the best resume format for applying for finance internships. Then, put together your qualifications and finance skills in the resume.
One common mistake with submitting resumes to firms is using the “one-style-suits-all” format. You need to tailor your resume to suit the company that you are applying to. This means that while the resume may have similar content, the design and language may be slightly different for each company.
Submit your application
When it comes to applying for finance internships, the earlier you start applying, the better. Some folks start to apply as early as their freshman year.
Technology has made it easier. Now, you can make use of job sites and LinkedIn to find companies and submit your applications. You can also employ other social media platforms like Twitter and Facebook to find opportunities. Send in a cover letter along with your resume to as many companies as you can.
What Skills do I Learn During a Finance Internship?
As we have mentioned earlier, finance internships help to build on the knowledge you gained in class. Better still, you will be applying theoretical knowledge to practical situations. Here are some of the professional skills that you should gain during a finance internship:
- Financial analysis
- Financial modeling
- Microsoft Excel
- Financial reporting
- SAP (Systems Applications and Products)
Benefits of Getting a Finance Internship
What do you get from a finance internship? Here are some of the benefits that you will enjoy:
- Valued financial and industry knowledge.
- Understanding of company culture.
- Development of professional skills.
- Growth of personal network.
- Increased confidence.
By now, you must know how to get a finance internship. We have also answered some important questions regarding finance internships. If you have other questions, you can drop them in the comments section.Kindly Like my Page