Seeking Guidance on Securing My First finance Internship in the UK
As March rolls around, I find myself in my penultimate year of a three-year BA program at a top target university in the UK, studying a challenging STEM subject. I feel a bit lost regarding internships, as I think I may have missed the opportunity to gain valuable experience in finance and I’m unsure of how to navigate my next steps.
Last year, I didn’t secure any spring internships, and I lack connections in the finance industry to help me gain relevant experience during my first summer. I’ve applied to numerous spring and summer high finance internship positions this year, yet none made it past the CV screening stage. I have the option to pursue an integrated master’s program, which could allow me to apply for summer internships again next year, but it does come with added costs and risks.
So, my question is: How can I secure that first experience in finance that will help me get my foot in the door?
I maintain excellent grades and have a strong work ethic. Currently, my goal is to work at a search fund and potentially a commercial bank, which I believe I could achieve as it’s somewhat related to my interests. However, my ultimate aspiration is to break into asset management, and I’m eager to explore any opportunities—even unpaid ones—that could provide me with direct experience in the field.
If there are any professionals on this forum who have faced similar challenges, I would love to hear about your career journey, especially in this competitive job market. Any insights or advice would be greatly appreciated!
One response
It’s completely understandable to feel lost when it comes to securing your first finance internship, especially given the competitive nature of the industry. Here are some steps and strategies that might help you gain that crucial experience and increase your chances of landing an internship in asset management:
Network Actively: Reach out to alumni from your university who are in finance roles. LinkedIn can be a powerful tool for this. Personal connections can lead to opportunities that aren’t publicly advertised. Attend career fairs, finance-related events, and networking evenings hosted by your university or professional organizations.
Informational Interviews: Schedule informational interviews with professionals in asset management or related fields. This will help you gain insights into the industry, and they might be aware of internships or opportunities you could explore.
Consider Relevant Experience: While waiting for finance-specific opportunities, don’t underestimate the value of related experiences. Roles in commercial banking or even internships in consulting, Accounting, or analytics can build transferable skills and demonstrate your commitment to finance.
Skill Development: Enhance your skill set by taking online courses in areas like financial modeling, data analysis, or investment strategies. Websites like Coursera, edX, or even specific finance platforms can provide valuable credentials and show your initiative.
Engage in Campus Activities: Join finance-related societies, investment clubs, or student organizations. These experiences can not only help you network but also provide practical learning opportunities that make you more attractive to employers.
Unpaid or Part-Time Work: Don’t shy away from internship opportunities that are unpaid or short-term, especially with smaller firms or start-ups. They can provide exposure to the industry and possibly lead to paid opportunities down the line.
Tailor Your CV and Cover Letter: Spend time refining your CV and tailoring your cover letter for each application. Highlight relevant courses, projects, or experiences that can demonstrate your interest in finance and asset management specifically.
Follow the Markets: Stay updated with market trends and investment news. Engaging in discussions about current events in finance and demonstrating your knowledge during interviews can set you apart.
Consider Your Options: Since you mentioned the possibility of doing an integrated master’s program, weigh the pros and cons. If you believe it will enhance your employability and give you additional networking opportunities, it might be worth it.
Stay Resilient: The job market can be tough, and rejection is part of the journey. Keep refining your approach and applying for opportunities, and don’t hesitate to ask for feedback on your applications.
Many professionals have faced similar pathways and uncertainties at the start of their careers. Remember, persistence is key. Good luck on your journey into finance!