If you are doing an internship in a investment bank in the United States, which one to choose? Firsthand.co, a career consultancy, surveyed over 11,400 current and former interns over the summer of 2022 to derive the best internships in various industries.
Examine first-hand internships for quality of life, compensation, interviews, career development, job prospects and diversity to produce the ranking. Overall, banks rank high on compensation, no surprises – although overall in the survey it was a clean sweep for Infosys in every category.
We’ve taken the top investment banking rankings and broken them down to see where last year’s interns enjoyed themselves the most and improved the most.
1. FT Partners Internship
FT Partners, the fintech boutique, is offering a ten-week internship program starting in June. “Work directly for senior bankers” at the San Francisco-based boutique firm, although you can also complete the internship in New York. Firsthand estimates that 21 to 50 interns are taken in a year. “The application process includes three rounds of interviews and requires a CV, transcript and college entrance exam results,” the company says.
FT Partners ranked first for the quality of assignments, training and overall career development among banks, and performed strongly compared to other sectors.
2. Evercore Internship
Another ten week internship in Chicago, New York, Houston, Menlo Park and Toronto. Evercore is a large boutique, and one former intern told Firsthand that the internship offered “access to a strong network and a great work culture,” although another said deal flow was limited during the internship. program.
Evercore was the strongest in job prospects and mentorship, as well as a good ranking.
3. Harris Williams Internship
Harris Williams, the private investment bank, takes 10 to 20 graduates for its summer internship in Boston, Minneapolis, Richmond and San Francisco, which lasts ten weeks. Analyst and associate level internships are offered. Graduates of the program rated it highly in terms of pay and benefits, although they found it lacking in networking and mentorship opportunities.
Harris Williams ranked highly for pay, as well as quality of assignments.
4. William Blair Internship
Located in Chicago, New York, Charlotte, Boston, Atlanta, or San Francisco, the ten-week William Blair Boutique Internship is open to analyst and partner the roles. It hosts 50 to 100 interns a year, and an intern from previous years said that “the junior bankers are great mentors and offer a mix of [responsibilities].” Another complained that ‘there were times when I didn’t have much to do’.
William Blair ranked well in terms of pay and job prospects, but not in other categories.
6. Solomon Partners Internship
Based in Chicago and New York, private boutique Solomon Partners welcomes students for ten weeks of the summer, with applications being reviewed on a rolling basis until June 31.st. The program ranked reasonably well for job prospects and compensation.
7. Guggenheim (Associate Internship)
The associate program at New York-based investment bank Guggenheim ranked seventh on the list, with alumni praising the pay, interaction with live offers and social experiences. But others criticized the “lack of diversity” and noted that “cross-office staffing makes collaboration difficult.”
The Guggenheim Associate Program ranked well for compensation, but not for other categories.
8. Lazard Internship
Lazard’s analyst and associate summer internships have been praised by interns for “the opportunities to broaden skills and learn on the desk,” as well as the pay. One, however, said he wanted “more networking opportunities between summer analysts/associates and full-time analysts/associates”, as well as a desire for “more modelization”.
Lazard ranked highly for compensation, but not in any other category.
9. Guggenheim (Internship analyst)
Guggenheim’s second appearance on the list was less complimented than their associate internship, with interns lamenting the hours, despite saying “that’s what comes with the job”, as well as that supervisors weren’t “not always clear about expectations and comments”. Positive comments were generally the same as for the associate level, with another noting exposure to senior management.
The analyst program did not rank high in any category.
10. Houlihan Lokey Internship
Houlihan Lokey was the last bank represented on the list. The ten-week summer program was called “unbeatable” by one intern, another praising the “multiple opportunities to learn technical skills and network with people”. Others criticized the work-life balance and noted that “the training could have been a little more tailored”, while noting that the salary was “very generous”. It did not rank well in any category.
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