Summer 2022’s Top 10 Investment Banking Internships For Undergrads

Top 10 investment banking internships

3: Guggenheim Securities Summer Associate Internship Program

guggenheim securitiesVault score: 9.203

Academic level: Business school students, MBA candidates 

Compensation: Paid

Duration: 10 weeks

Vault ranked this internship #7 Best Internships for Finance and #7 for Best Internships for Compensation & Benefits.

About the internship: This is the second entry for Guggenheim internships on Vault’s list (see No. 8), though this one is for summer associates and more experienced candidates.  Summer associates are exposed to the day-to-day operations of key business units within the company while receiving mentorship, performance evaluations, networking opportunities, and a speaker series. Investment banking internship opportunities are available in New York and Houston.

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2: Evercore Advisory Summer Analyst and Summer Associate Program

evercoreVault score: 9.324

Academic level: Juniors, business school students 

Compensation: Paid

Duration: 10 weeks

Evercore is an elite independent investment banking advisory firm, employing more than 1,900 people and serving clients around the world from its numerous offices in North America, Europe, South America, and Asia. Vault ranked this internship #2 Best Internships for Finance and #6 for Best Internships for Employment Prospects.

About the internship: Interns work on a variety of assignments in acquisitions, restructurings, recapitalizations, divestitures, partnerships and joint ventures. Summer analysts typically work as part of small teams and as a result get a significant amount of exposure to senior bankers as well as clients. Eligible interns are invited to join the firm full-time after graduation. 

Responsibilities: 

  • Preparing for and attending client meetings
  • Financial modeling
  • Industry analysis
  • Due diligence and process management 
  • Execution of transactions 

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1: Financial Technology Partners Internship Program

financial technology partnersVault score: 9.402

Academic level: Juniors, business school students 

Compensation: Paid

Duration: 10 weeks

Based in San Francisco, Financial Technology Partners is the only investment banking firm focused exclusively on the financial technology sector. Vault ranked this internship #1 Best Internships for Finance and #2 for Best Internships for Compensations & Benefits.

About the internship: FinTech senior bankers work directly with interns to help students garner a deeper understanding of  financial modeling, valuation analysis, and strategic due diligence across M&A and capital raising transactions. The application process includes two rounds of interviews and requires professional references.

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METHODOLOGY

To create its top 10 internship lists, Firsthand surveyed more than 11,000 current and former interns about their programs. It evaluated those programs on a 10-point scale in a number of categories including:

  • Quality of Life (company culture, hours, work-life balance, flexibility)
  • Compensation & Benefits (pay structure, subsidized expenses, technology resources, office space, perks)
  • Interview Process (application process, requirements, number of interviews)
  • Career Development (including four separate ratings for training and mentoring, quality of assignments, real-life experience, networking opportunities)
  • Full-time Employment Prospects (opportunity to obtain a full-time job with this organization)
  • Diversity (including four separate ratings for diversity with respect to women, racial & ethnic minorities, LGBTQ+ individuals, and other underrepresented groups)

Relative weights were assigned based on what interns reported valuing the most in their programs, and overall scores were calculated with the following formula: 30 percent career development, 20 percent employment prospects, 20 percent quality of life, 20 percent compensation, 5 percent diversity, and 5 percent interview process. 2022 rankings were based on interviews conducted in summer 2021. 

You can see the full internship rankings here.

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