Exploring internship opportunities can be a challenging task and usually coincides with living in a new city, keeping up with studies and balancing a social life. I know I found juggling all these aspects tricky at the time, and in retrospect, would definitely encourage you to enjoy the moments and memories you have at university (the societies, sports, competitions, friends, laughs and even the valuable access to teachers and office hours).
Having said that, opening doors to a future career is important and doesn’t typically happen overnight, particularly in finance. Looking back on my own experience, I’ve shared some steps and ideas that might be helpful to you in navigating the early-stages of your career search: 1) Reflect, 2) Get organised, 3) Play the game efficiently, 4) Prep for the process and 5) Receive offers and rejections
- Reflect: Have a whole-hearted discussion with yourself. What’s your motivation for applying? Is it genuine? Why would you like an offer? Is it the best opportunity for you?
A few important questions to start with, which broadly fall under “Why do you want to do this particular internship?” Is it for an insight into the ways of an industry or a role? The reputation from a large institution? To build your network? Or a step towards a full-time career? If the latter, would you enjoy that career? If the full-time job and lifestyle doesn’t particularly excite you, maybe that internship isn’t the one for you.
And there’s 100s of opportunities (official and unofficial) across a number of exciting fields (consulting, engineering, civil service, law, teaching, academic research, corporates, sport, start-ups, university language courses and competitions). Focus on what’s right for you and your interests and less by what peers are doing. Time over the holidays goes quickly, be explorative but rigorous in how you want to spend it
2. Get organised
If you’re dead-set on a spring or summer internship, I would recommend getting organised early. The deadlines come around earlier and earlier each year and the process is highly competitive. Know what programmes are available, what the application process looks like (number of stages), when the deadlines are and any additional hustle that might help you stand out e.g. getting creative or networking. To get organised, I built a simple (but probably over-extensive…) excel list over the summer. Once created, prioritise your “top picks” and start to complete the core of your application, usually: CV, cover letter and building your personal network at the firm (career fairs, corporate events / dinners, LinkedIn)
3. Play the game efficiently and prepare in advance
It can really be a numbers game, with a generous tablespoon of luck. The application review process typically involves multiple people across each company (HR and various teams of university alumni), each with their own workloads and views. Apply to as many of the programmes that interest you as you can (without putting too much pressure on yourself or your studies) — it’s not the end of the world if you only apply to 1. Or if 7 of your friends have 6 offers each. There’s great value in trying out the process, having an up-to-date CV and thinking about the experiences that you have that exemplify your strengths. Try to make the steps as efficient as possible — a couple tricks I figured along the way:
- Build gradually over time (even 10 minutes a day tweaking your CV or reading the news or finding a new connection)
- Diversify your odds across opportunities, sectors and types of companies
- Fine-tune your CV with the support of your university careers team, family and friends
- Tailor your cover letter time-efficiently (plug and play to the extent that you can, few of these will be read)
- And the best one. Create a list of your application questions and answers as you go. It can just be a word document where you “Ctrl + C, Ctrl + V” (copy + paste) into before hitting “submit”. It’s also good to add short summary type-ups after each of your interviews — what went well, any tricky questions, what could you have answered better and how? This will be an immensely helpful time-saver and will allow you to refine and re-use answers in the future
4. What does the typical process look like?
- Core CV components: 1) Contact details, 2) education, 3) work experience, 4) interests, skills, extra curriculars, achievements
- 3 core questions for your cover letter (1 short paragraph each): Why the company, why the internship, why you?
- Motivational questions: Why the company, why the internship, why the division, why the role…
- Competency questions: Why you, what are your strengths / weaknesses, tell me about a time when…
- Aptitude tests: numerical, verbal, non-verbal, personality
- Video interview (pre-recorded): consists of motivational and competency questions. It’s important to practise your answers beforehand (even in the mirror). Look at the webcam (rather than the screen), bring energy and smile!
- Telephone interview: mostly motivational and competency questions. Be engaging and concise. Know your CV back to front. Practise your answers with someone beforehand. Bring energy, passion through your voice and a smile here too!
- Assessment centre: multiple interviews (motivational, competency, technical, financial), team exercises, numerical tests, case study presentations
5. Receiving rejections
Rejection can be tough, particularly when you’re passionate. Unfortunately it can form a big part of the internship journey. A great way to think about it is to focus on what you gained from the experience — was it the first application that you’ve ever done, is your CV better now than it was before, did you build a connection with someone at the company, was it a chance to practise your competency answers in real-time? All of this will make your next one much stronger. And there’s another 100 opportunities out there — so grab some fresh air, get out to do your favourite hobby and come back with a hot drink and a smile to get to the next opportunity
6. Accepting offers
Time over easter and summer is valuable, so be specific. Look ahead, map out how you want to best juggle your studies, time with family and friends, travel and internships. Can you attend 3 spring internships, or is 1 or 2 better? Are there any clashes? Is it just 1 internship that really interests you? If you had to pick 1, which would it be? It’s worth taking some time to think about these things — review and plan out before accepting. Equally, if you have an offer, be confident in communicating that offer with other opportunities that are nearing the final stages. It can be a great signal of your success in other processes and will help you manage conflicting timeframes. Remember your time is yours, so spend it how you want to and enjoy the moments that you have!
“Realise deeply that the present moment is all you ever have” — Eckhart Tolle
