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#1 07-16-2008 05:28 PM

SoulWrangler
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Registered: 03-06-2008
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Summer Internships for Students

Coming from a student going transfering from a junior college (cost cutting measure) to a respectable public university in the fall, having to have figured out much of this on my own, Ill be the first to say that when interacting with friends interested in the business world or who are already there, I found myself initially at a loss when finding out about the competition between students for summer Internships. Its not only that these internships are hard to get, but the atmosphere surrounding many students have that Ive noticed had burned themselves out in High School for the purpose of getting into that big name college, then burn themselves out again trying to get that big Internship, then do it all over to get the big first job.

http://www.nytimes.com/2008/01/06/educa … html?fta=y

The time for securing internships is already running short. The career counseling center at Southern Methodist University in Dallas warns students on its Web site that recruitment for the most coveted 10 percent of internships starts 10 months in advance. And many of those, at places like Microsoft, Google, Disney and XM Radio, have filled their summer slots by New Year’s Day.

Competition is further heightened because applicants are increasingly qualified. At Ketchum, a New York public relations company, more than 600 students applied for 16 positions last summer, with predictable results.

“This year, for the first time, every candidate selected for this summer’s program came to Ketchum with previous internship experience under their belt,” says Allison Slotnick, a spokeswoman. “Where once strong academics and extracurricular activities could demonstrate one’s capabilities, a track record of professional internship experience is now necessary.”

Its times like these that I have to dislike myself for taking my parents advice so closely, and not having put more effort into stacking my resume. Also though, the possibility of joining the Marines for special forces/intel is looking more appealing all the time. Really, Goldman Sachs got ~10,000 applications in one of the few past years for its internships.

The days of spending your summers as a lifeguard are over if you want to have a good job in so many fields. Thoughts?

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#2 07-16-2008 05:32 PM

zukiphile
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Registered: 08-08-2003
Posts: 10325
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Re: Summer Internships for Students

SoulWrangler wrote:

The days of spending your summers as a lifeguard are over if you want to have a good job in so many fields. Thoughts?

Do you have a field in mind?


"Atheism - the religion devoted to the worship of one's own smug sense of superiority."   - Stephen Colbert

I may be wrong, and it's not important to me if I am.  - Unka Bart

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#3 07-16-2008 05:41 PM

SoulWrangler
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Re: Summer Internships for Students

Investment banking, risk management/advisory etc. Probably start off in operations or something similar, with the goal being to get a junior analyst position at a large investment bank out of college.

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#4 07-16-2008 05:54 PM

zukiphile
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Registered: 08-08-2003
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Re: Summer Internships for Students

You want to be Budd Fox?

Double Down may have answers for you.


"Atheism - the religion devoted to the worship of one's own smug sense of superiority."   - Stephen Colbert

I may be wrong, and it's not important to me if I am.  - Unka Bart

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#5 07-16-2008 06:02 PM

SoulWrangler
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Re: Summer Internships for Students

Zuk, you are the _illest_. Thank you. Ive come to think lowely of formal education as of the past while; now, marine special forces are coming to seem to be quite appealing. Seems like either that or starting my own business and dropping out of school may be the best options with the degredation of the value of degrees.

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#6 07-16-2008 06:16 PM

zukiphile
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Re: Summer Internships for Students

*Zuk returns from Urbandictionary.com*

SoulWrangler wrote:

Zuk, you are the _illest_.

Thanks.  That's very "street" of you.


"Atheism - the religion devoted to the worship of one's own smug sense of superiority."   - Stephen Colbert

I may be wrong, and it's not important to me if I am.  - Unka Bart

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#7 07-16-2008 07:28 PM

Double Down
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From: Daley's fiefdom
Registered: 07-18-2003
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Re: Summer Internships for Students

SoulWrangler wrote:

Investment banking, risk management/advisory etc. Probably start off in operations or something similar, with the goal being to get a junior analyst position at a large investment bank out of college.

if you want front-office or an analyst job, do not start in ops.  you'll get pigeon holed and never get out.

where you went to school, your GPA and your SAT will determine whether you get into a good IB, intern or otherwise.  your extra-curiculars and your ability to sell yourself is critical.  some internships pay, some don't and the opportunity is the reward.  if you really want to IB you must start as an intern and work every hour you can.  if you get picked up as an associate expect 100+ hrs a week with an expectation you'll start work on your MBA in 2 years.  the top shops (GS) get all the top guys from the top IVY's.  your major won't matter as much as your demonstrated ability to think and be flexible.

you'll be overworked with a good possibility of burning out.  but, if you make it to an IB analyst role (post MBA) you'll be making mid six figures, and still working 100+ hrs.  the directors etc... all salary and bonus out in the millions, and continue to work 100+ hrs.  the reason these guys succeed is because they love the work or are workaholics.  their work is their life.

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#8 07-16-2008 09:02 PM

Jesus Is My Pilot
Official Zit of Jesus' Ass
From: ATL
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Re: Summer Internships for Students

SoulWrangler wrote:

Investment banking, risk management/advisory etc. Probably start off in operations or something similar, with the goal being to get a junior analyst position at a large investment bank out of college.

What are your reasons for wanting these positions?


What no person has a right to is to delude others into the belief that faith is something of no great significance, or that it is an easy matter, whereas it is the greatest and most difficult of all things - Kierkegaard

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#9 07-16-2008 09:13 PM

zukiphile
Grim counsellor
Registered: 08-08-2003
Posts: 10325
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Re: Summer Internships for Students

Jesus Is My Pilot wrote:

What are your reasons for wanting these positions?

?

http://www.imdb.com/media/rm2614794496/ … lideshow=1


"Atheism - the religion devoted to the worship of one's own smug sense of superiority."   - Stephen Colbert

I may be wrong, and it's not important to me if I am.  - Unka Bart

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#10 07-16-2008 09:50 PM

JRoyC07
In disgusted awe
From: NH
Registered: 03-03-2008
Posts: 147
Karma: 14

Re: Summer Internships for Students

I'm also a business major, concentrating in accounting and finance. This year I took an internship working for a project manager at a nuke plant (see nuke thread). Although my job isnt really related to my intended career-path, I definitely feel it's been valuable.

My academic advisor for my fall semester had an internship at edit:Morgan Stanley. He said that not only was he one of the only people there from a public school, but that he was only one of about half who were actually business majors. Most he said were the kids/nephews/kids of golfing buddies of higher ups in the company. If you can get an internship at one of those firms, awesome. But its as much to to with who you know as any aptitude/ambition you have.

I also want to do analyst work when I graduate, but I plan on applying to Fidelity and some smaller mutuals (Pax World Funds) for my future internships, where I feel I will be able to earn my job offer. I wouldnt be too dissapointed If you dont get an internship at one of the prestigous companies (Bear Stearns interships are still probably tough to get), just make sure you learn as much as you can, wherever you end up.

The biggest thing IMO to get out of an internship is a real knowledge of how the company actually works. Sounds obvious, but just from what I learned this summer I have become a much better applicant. 14 bucks an hour is pretty nice also.

Good luck.

Last edited by JRoyC07 (07-16-2008 09:56 PM)

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#11 07-17-2008 12:31 PM

Jesus Is My Pilot
Official Zit of Jesus' Ass
From: ATL
Registered: 04-05-2004
Posts: 3444
Karma: -383

Re: Summer Internships for Students

zukiphile wrote:

Jesus Is My Pilot wrote:

What are your reasons for wanting these positions?

?

http://www.imdb.com/media/rm2614794496/ … lideshow=1

I don't go to bed with no whore, and I don't wake up with no whore. That's how I live with myself. I don't know how you do it.


What no person has a right to is to delude others into the belief that faith is something of no great significance, or that it is an easy matter, whereas it is the greatest and most difficult of all things - Kierkegaard

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