Public finance Internship
I’m excited to share that I’ll be interning in the public finance group at an investment bank, and I’m looking for advice on how to prepare effectively. I have some concerns about my technical skills—should I focus on brushing up on Excel shortcuts? I’ve heard that much of the modeling work revolves around debt and bond calculations, but I would love to know if there are any online resources that offer a walkthrough of a sample model. I’m eager to secure a return offer, so any tips you have would be greatly appreciated. Additionally, I’d like to hear your thoughts on the possibility of the Trump administration eliminating bond tax exemptions and how that might affect the municipal market. I’m a bit anxious about how this could influence my chances for a return offer. Thank you!
One response
Congratulations on landing the internship in the public finance group! Here are some tips to help you prepare and make the most of your experience:
1. Technical Skills:
– Excel Shortcuts: Definitely brush up on Excel shortcuts. Proficiency in Excel is crucial in investment banking, and knowing how to navigate quickly can save you time and impress your team. Focus on functions related to financial modeling, including VLOOKUP, INDEX/MATCH, and pivot tables.
– Modeling Resources: For public finance and municipal bond modeling, you can find helpful resources online. Websites like Wall Street Prep, CFI, and Investopedia offer tutorials. YouTube also has numerous walkthroughs of basic debt models. Consider looking for specific courses focused on municipal finance or debt modeling.
2. Understanding Public Finance:
– Familiarize yourself with key concepts in public finance, such as municipal bonds, different types of public financing structures, and how interest rates impact bond pricing. Understanding the basics will give you a solid foundation to build upon.
3. Industry Knowledge:
– Keep an eye on current events impacting the municipal finance market. This includes federal policies, interest rate changes, and economic conditions. Reading articles from financial news sources and following updates from organizations like the National Municipal League can be valuable.
– Regarding your question about the Trump administration and bond tax exemption, while it’s hard to predict specific policy changes, being knowledgeable about current discussions and how they could impact the muni market will help you engage in meaningful conversations with your colleagues.
4. Engagement and Networking:
– Don’t hesitate to ask questions and seek feedback from your team. Showing your willingness to learn and engage is often more important than knowing everything from the start.
– Connect with your peers and mentors within the firm. Building relationships can bolster your chances of securing a return offer.
5. Soft Skills:
– Develop your communication and presentation skills. You might need to present your findings and analyses, so being able to articulate your thoughts clearly is a big plus.
– Be proactive, take initiative, and show enthusiasm. Demonstrating a strong work ethic and a positive attitude can leave a lasting impression.
Remember, internships are as much about learning and growth as they are about performing well. Show that you’re eager to learn, and you’ll make a strong case for a return offer. Good luck, and enjoy your time at the IB!