Trying to get into investment banking? It sounds intense, because it is, but getting an internship is your best shot at breaking into the investment banking industry. Whether you’re just starting college or already thinking ahead to next summer, this guide will walk you through everything in a very easy-to-understand way. These internships are super competitive, often considered the golden ticket if you’re thinking about a career in finance.
So, what exactly is an investment banking internship? It’s a chance to work at a big bank or financial firm (think Goldman Sachs, Morgan Stanley, JPMorgan, etc.) and get real experience doing full-time bankers’ work, like helping companies raise money, researching markets, and building financial models.
Getting one of these internships takes more than just sending your resume and hoping for the best. It might feel a bit intimidating at first, but don’t stress; this guide breaks it all down step by step in a way that helps.
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Benefits of Doing an Investment Banking Internship
If you’re serious about a career in finance, this is how you get your foot in the door to opening more opportunities in the future. Here’s what you’ll get out of it:
- See What It’s Really Like: You’ll figure out if the fast-paced finance world is for you. As you will be expected to do work on things like building finance models, checking out markets, and digging into real deals.
- Make Connections: One of the best parts of an internship is that you’ll be working alongside experienced folks, analysts, associates, and maybe even some top-level managers. Further, these connections can be super helpful when you’re trying to land a full-time job.
- Boost Your Resume: Having a banking internship screams, “I’m serious.” Your resume needs to be clean, sharp, and to the point. Include any finance-related courses, leadership roles, school clubs, or side projects you’ve done. If you don’t have any finance experience yet, show that you’re motivated and willing to learn.
- Job Offers: Most investment banks utilize internships as a pipeline for full-time recruitment. Doing well in your internship can mean a job offer, avoiding the hassle of job searching once you graduate.
- Learn a Ton: From Excel to presentations, you’ll pick up serious skills.
How to Get an Internship in Investment Banking?
Getting into investment banking isn’t easy, but it’s definitely possible if you plan right. The trick is to be smart about how you apply.
Apply Intentionally
First things first, don’t just throw your resume at every bank and hope for the best. Be strategic.
Go local
If you live near a smaller city or a regional office, start there. Everyone wants to be on Wall Street, but not everyone’s thinking about that satellite office in Charlotte or Dallas. Your chances might be way better in those spots.
Cast a wide net
Don’t only chase the big-name investment banks. There are a lot of smaller boutique firms, private equity shops, venture capital places, and even consulting roles that can give you solid experience and help you get your foot in the door.
Quality over quantity
Sure, some people send out 100+ applications. But that only works if each one is sharp and tailored. A thoughtful, specific application will always beat a generic resume blast.
Customise every time
Don’t send the same version to every bank. Mention the company by name, the role, and why it interests you. That little extra effort shows, especially to recruiters.
Highlight your skills
They’re looking for more than just finance knowledge. Show that you can work on a team, communicate well, and think on your feet.
Internship Application Timeline
Let’s walk through how the internship process usually plays out during each year of college. Don’t worry if it feels overwhelming at first, but the key is to start early, stay focused and keep moving forward.
Freshman Year
This is your time to lay the groundwork. Start getting involved, join clubs, get to know your professors, talk to upperclassmen, and if you can, take on part-time jobs, volunteer work, or even internships. These early moves might not seem huge, but they can boost your resume later.
Also, keep an eye out for early insight or diversity programs. These are sometimes called pre-internships or student leadership programs, and they’re designed to give freshmen and sophomores a taste of what different industries are like. Some of these applications open as early as fall, so don’t wait too long to look into them.
Sophomore Year
This is when things start getting real, especially if you’re aiming for investment banking. A lot of banks open up internship applications a full year (or more!) before the actual start date. Most applications go live between January and March, and they’re usually reviewed on a rolling basis. Translation: The earlier you apply, the better your shot.
If your application makes the cut, you’ll likely be invited to a first-round interview. This could be a pre-recorded virtual interview (like HireVue) or a live phone or video call with a recruiter. Either way, it’s your chance to show them what you’ve got.
Sophomore Summer and Junior Year
Next comes the Superday, the final round of interviews. These usually happen on a weekend and include multiple back-to-back interviews, often with a mix of employees across levels. Some banks run Superdays every few weeks; smaller firms might only host one or two per year.
After that, it’s time to wait. Some offers are made right away during Superday, while others might take weeks (or months). If you get the offer, congrats! That’s a huge step.
If you don’t, it’s not the end of the road. Take a moment to reflect. If possible, ask for feedback.
Best Companies for Investment Banking Internship
Let’s talk about where you can actually apply. Everyone knows the big-name companies, but they’re not your only option. Here’s a quick breakdown of the best places to go, depending on what kind of work you like, where you want to live, and what your long-term goals are.
The Big Investment Banks (aka Bulge Bracket Banks):
These are the famous ones everyone’s heard of. If you want name recognition and lots of resources, these are a solid bet.
One of the most sought-after internships, and one of the hardest to get. Expect fierce competition, but also major exposure and name recognition on your resume.
A global powerhouse with plenty of roles across divisions. Just remember: you can only apply to three positions per year, so make each one count.
Known for its strong training programs and global reach, opening doors in finance, consulting, or even tech.
A top pick for students looking to get serious finance experience with a strong support system.
Great for those interested in international markets or who want to work with global clients.
- Barclays, Credit Suisse, Deutsche Bank, UBS
These names carry weight worldwide. They’re ideal if you’re looking for global exposure and fast-paced roles.
The Mid-Tier and Boutique Firms (Hidden Gems)
Don’t sleep on these; they offer hands-on experience, tight-knit teams, and sometimes, quicker paths to promotion.
- Lazard, Evercore, Moelis & Company
Elite boutique firms that focus on high-end advisory work. You’ll work closely with senior bankers and get a front-row seat to big deals.
- Houlihan Lokey, Jefferies, Guggenheim Partners
Mid-sized players known for solid mentorship, great deal flow, and a more personal work environment.
- PJT Partners, Perella Weinberg Partners, Greenhill
Smaller firms, but huge on learning. You’ll probably be doing real work, not just fetching coffee or building pitch decks.
More Than Just Banks
Interning in finance doesn’t have to mean investment banking only. These companies offer solid alternatives that still land you in competitive roles later.
- Private Equity & Venture Capital
Firms like Blackstone, KKR, Carlyle Group, and Sequoia Capital offer internships that are just as intense and just as rewarding.
- Consulting Firms
Think McKinsey, Bain, BCG. They don’t do banking, but the skills overlap, and the exit opportunities are strong.
- Fintech & Asset Management
BlackRock, Bridgewater, Citadel, and even newer fintech startups give you a different kind of finance experience, still valuable, still respected.
How Rostrum can Help you in Getting an Internship
Personalised Mentorship
Get paired with experienced mentors from leading industries who help you identify the right internship opportunities based on your goals and strengths.
CV and Cover Letter Support
Our experts work with you to craft compelling CVs and tailored cover letters that align with specific internship roles and make you stand out to recruiters.
Application Strategy
We help you build a smart application roadmap—selecting companies, tracking deadlines, and customizing submissions for maximum impact.
Interview Preparation
Master your interviews with mock sessions, industry-specific questions, and actionable feedback from professionals who’ve been on both sides of the table.
Assessment Centre Training
Prepare for aptitude tests, group exercises, and case interviews with targeted resources and simulations.
Networking and Insights
Gain insider knowledge through our mentor network—get tips on approaching firms, building connections, and understanding workplace expectations.
