A Wharton I-Banking Intern Made $25K A Month!

Undergraduate students at McIntire at a job fair

MORE THAN HALF OF WHARTON INTERNS WORKED IN FINANCE

Although the vast majority of Wharton interns–53.3%–got internships in finance, some 15% went into consulting and 14.2% gained summer jobs in tech firms. The school said that more of its students interned in marketing roles during 2016 (10.8% as opposed to 7.8% in 2015), as well as information technology (7.3% as opposed to 3.8%). Fewer students pursued opportunities in private equity (4.5% as opposed to 7.2% in 2015) and trading (1.7% as opposed to 2.5%).

Obviously, these breakdowns often reflect on a school’s perceived strengths and location. At Olin, students pursued a much wider range of internship opportunities, with only 37% going into finance. Still, it was the most popular sector for the St. Louis-based school, just as it was at UVA’s McIntire where 50% of the summer interns landed jobs in finance last year.

Ar Ross, 47.2% of the internships were in financial services, with 16.4% in consulting and and 6.3% in technology. Manufacturing accounted for 7% of the summer jobs, consumer packaged goods, 5.9%, and retail, 4.9%. Only 1.4% of Ross undergrads did their internships in healthcare last year, the same percentage who landed summer gigs in media, entertainment or sports.

HOW AND WHEN UNDERGRADS LAND THEIR SUMMER OPPORTUNITIES

How and when undergrads get a summer internship varies by industry. In Wharton’s latest report, the school tracks this info for three key industries: finance, consulting and technology. In finance, for example, some 57% of the students reporting getting their internship offers before December for the following summer (see below), and most of those jobs were achieved with help from the school’s career services office (37%) or were gotten by the students themselves (30%) after the directly applied for the positions.

These numbers shift dramatically, however, when it comes to other industries. In consulting, for example, only 11% of the students were offerred internship before December, but 64% of those jobs were found through Wharton’s career office with only 11% landing their opportunities by applying directly for them. For internships at tech firms, meantime, some 41% of the students reported getting their offers before December. The vast majority of those opportunities were gotten by students (50%) who applied directly for the summer jobs. Only 12% were found through Wharton’s career office.

FINANCE INTERNSHIPS AT WHARTON

Source: Wharton internship employment report for 2016