No spring internship? No offer? No worries
Spring internships in banks. Like a freshly born lamb, they’re confusing, but somewhat exciting and delicious, in a tempting way. Still on the fence as to needing one? We’ve got you covered. Looking to apply to one? We’ve got you covered. Looking for them? We’ve got you covered.
But let’s assume you have a spring internship that you definitely are going to – what now? How do you plan for it, and what do you if you can’t convert it into a summer analyst position?
We spoke to Victoria McLean and Nuno Reis to find tips on navigating the tumultuous terra incognita that is the spring internship.
Victoria is the CEO of CityCV, an international careers consultancy, and Nuno is a former trader (and physics PhD) who now works as a career coach. Both are based in London.
Okay, you didn’t attend but you want a summer role – now what?
At many banks, a spring internship will lead to a summer internship and a summer internship will lead to full time graduate offer. If you don't have the spring internship, you're therefore out of the loop.
What do you do about that (aside from creating a profile on eFinancialCareers)?
“Make a list of all the potential companies you could summer at, and send them your CV with a covering letter that is specific to them, explaining why you'd be an asset to their team over the summer and why you want to work for them,” Victoria says.
If you know anyone in banking (maybe through alumni networks), now is the time to hit them up. “In the case that someone doesn't get a spring internship, they rely on those contacts to help them in the summer,” Nuno says – and Victoria agrees. “If you have a network of contacts in the industry, contact them all,” she says.
What if you attended a spring internship and didn't get a summer offer?
Well, it’s not the end of the world, really. There are plenty of reasons you didn’t get an offer. Some banks don't convert spring interns. Others only have a limited number of internships to give out to candidates.
“You should ask for constructive feedback and then work on any weaknesses the company feels you may have - think of it as a learning experience,” Victoria says. “Then, apply for summer roles elsewhere.”
Your hypothetical network should start helping you at this stage – because you are kind of back to square one, except you’re not; you have a spring internship on your CV! And that counts for a lot. Use it to broaden your network further.
Have a confidential story, tip, or comment you’d like to share? Contact: Zeno.Toulon@efinancialcareers.com in the first instance.
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