You’ve landed the internship of your dreams in investment banking, and now it’s time to make it count. Every move you make can either propel you towards a full-time offer or send you packing. We’ve got the inside scoop from Andrea Benson, Managing Director at Prospect Rock Partners, on what it takes to stand out from the crowd and leave a lasting impression on your colleagues.
Dress Like You Mean Business
In the world of investment banking, your appearance speaks volumes about your professionalism. Forget about your college wardrobe – it’s time to invest in a well-fitted suit in classic colors like navy or charcoal. Keep your shirts crisp, your ties subtle, and your shoes polished to a shine. And don’t even think about showing up with a five o’clock shadow – grooming is non-negotiable.
But it’s not just about what you wear; it’s also about what you don’t. Avoid casual attire like the plague, steer clear of flashy colors and patterns, and make sure everything fits like a glove. Remember, you’re there to make a name for yourself, not to win a fashion contest.
Master the Unwritten Rules
Investment banking is a world of its own, with its own set of rules that no one bothers to write down. If you want to make it out alive, you’ll need to learn them fast. First up: cell phone etiquette. Keep it on silent, keep it out of sight, and only check it during breaks. And if you even think about bringing it to a meeting with senior managers, you might as well pack your bags now.
When it comes to meetings and conference calls, come prepared and ready to impress. Have questions ready, take notes, and speak up when you have something valuable to add. And for the love of all that is holy, make sure your name is displayed correctly on conference calls – no one wants to hear from “iPhone User.”
Email and instant messaging are a minefield of potential faux pas. Double-check every recipient, proofread like your life depends on it, and keep things professional. And if you’re tempted to use an emoji or a gif, just don’t.
Finally, remember that your actions speak louder than words. Keep conversations appropriate, be mindful of your surroundings, and show up on time and ready to work. Take initiative, lend a helping hand, and keep a positive attitude, and you’ll be well on your way to making a name for yourself.
Network Like a Boss
Networking isn’t just about schmoozing at happy hour – it’s a critical skill that can make or break your career in investment banking. To do it right, you’ll need to craft a compelling story that showcases your skills and experiences, and learn to ask the right questions to show genuine interest in others.
But networking is a two-way street – you’ll need to bring something to the table too. Share your insights, make introductions, and offer support whenever you can. And don’t forget to follow up after events with personalized messages to keep those connections strong.
The Bottom Line Surviving your investment banking summer internship isn’t for the faint of heart – but if you’re reading this, you’ve already got what it takes. By dressing the part, navigating the unwritten rules, and networking like a pro, you’ll be well on your way to securing that coveted full-time offer. So take these tips from Andrea Benson, who knows a thing or two about what it takes to succeed in this industry, and show them what you’re made of – your future self will thank you.
Handle Feedback Like a Pro
Mistakes can happen, and feedback can be harsh. But how you handle criticism can make all the difference in your internship experience.
Picture this: you get a review that says, “Intern took the request and spent over 8 hours to complete when it should have taken no more than 30 minutes.” Ouch. So, where did you go wrong? Chances are, you didn’t ask enough questions to really get to the bottom of what was being asked of you.
To dodge this bullet, you’ve got to be proactive. Always ask how long a task should take, get crystal clear on every aspect of the request, figure out how it fits into the bigger picture of the deal, find out when you should touch base with your banker, and make sure you’re not neglecting any other urgent priorities. Don’t just retreat to your desk and hope for the best!
Here’s the kicker – it’s totally fine if you don’t have all the answers. In fact, you’re supposed to ask questions. By speaking up and really listening to the answers, you might just spare yourself from getting that cringe-worthy negative feedback.
Andrea Benson, Managing Director at Prospect Rock Partners, has drawn upon her extensive experience to create a slide presentation specifically for investment banking summer interns. With 13 years at Bank of America across Investment Banking, Human Resources, and Technology divisions, as well as her tenure as Global Head of Campus Recruiting at Morgan Stanley, Andrea has put together “Tips, Tricks & Rules of the Road for Investment Banking Summer Interns.” This presentation provides interns with actionable advice and insider tips to navigate the unwritten rules of investment banking, make a strong professional impression, and position themselves for full-time offers.
Key topics covered in the presentation include:
- Dressing for success in investment banking
- Mastering essential unwritten rules around communication, meetings, and conduct
- Proactive strategies for handling mistakes and harsh feedback
- Effective networking techniques to build relationships
- Going above and beyond to add value and secure a return offer
