Seeking Guidance on Gaining finance Internships: How to Secure Your First Opportunity (UK)
Hey everyone!
As we enter March, I find myself in my penultimate year of a three-year BA program at a prestigious UK university, studying a rigorous STEM subject. I’m feeling a bit lost regarding internships and am worried that I’ve missed the chance to get my foot in the door in finance.
Unfortunately, I didn’t secure a spring internship last year, and without connections in the finance industry, I missed out on gaining relevant experience during my first summer. This year, I applied for several spring and summer finance internships, but none made it past the CV screening phase. I do have the option to pursue an integrated master’s, which might allow me to try for summer positions again next year, but this comes with its own risks and costs.
So, my main question is: how can I land that first experience in finance to help me break into the field?
I have excellent grades and a strong work ethic, and I’m currently focused on working at a search fund, along with a likely opportunity at a commercial bank, since it’s somewhat related. Ultimately, I’m aiming for a career in asset management and am eager to find any way to gain direct experience, even if it means taking on unpaid work.
If there are any professionals here who have navigated similar situations, I would greatly appreciate hearing about your journeys, especially in today’s challenging job market. Thank you!
One response
It’s completely understandable to feel lost in the internship search, especially in a competitive field like finance. But don’t worry—there are paths forward, and your situation is not uncommon. Here are some strategies you might consider to break into finance:
Networking: This is arguably one of the most effective ways to get your foot in the door. Reach out to alumni from your university who are in finance, attend industry events, and join finance-related clubs or societies. Many internships are filled through referrals, so building connections could provide you with leads and insider advice.
Informational Interviews: Request informational interviews with professionals in the industry. This not only helps you gain insights but also establishes relationships that might lead to internship opportunities down the line.
Tailoring Your CV and Cover Letter: Make sure your application materials highlight relevant skills and experiences, even if they aren’t strictly finance-related. Emphasize your analytical capabilities from your STEM background and showcase any projects that involved financial modeling, data analysis, or problem-solving.
Seek Relevant Experience: If you’re interested in asset management, consider roles that could bolster your understanding of the field. This could include internships in investment clubs or managing portfolios for student organizations. Additionally, roles at commercial banks or search funds can provide valuable skills that transfer to asset management.
Online Courses and Certifications: Consider taking online courses or gaining certifications that could bolster your resume, like CFA Level 1, financial modeling courses, or relevant finance MOOCs. This demonstrates your commitment to the field and can make you stand out.
Stay Flexible: Your willingness to take on unpaid work can be a great way to gain experience. Look for internships at smaller firms or startups, where you might have the opportunity to learn a lot more than at a larger organization.
Leveraging University Resources: Many universities have career services that can help you with resume reviews or mock interviews. They may also have internship listings or connections with companies.
Consider Integrated Masters Strategically: If you do decide to pursue the integrated master’s, use that extra time to continue building your network and applying for internships. Having another year can also allow you to refine your focus and find opportunities that align with your career goals.
Lastly, remember that persistence is key. Many people face similar hurdles when starting out, and your stellar grades and work ethic are significant assets that will pay off in time. Keep pushing forward and exploring various avenues, and don’t hesitate to reach out to others who can guide you along the way. Good luck!