The following video is borrowed from our BusinessTraining.com platform and was originally recorded for our financial analyst training program. Obtaining an internship in financial analysis can be difficult but if you are lucky enough to get one then it can be very rewarding and a good way to start your financial analysis career. In this video, you will hear some strategies for obtaining a financial analysis internship.
Video Transcript/Summary: The strategies and tips provided within this video module include:
- The career of a financial analyst can be rewarding, which is why it is such a competitive space to get into. In order to set yourself apart, you should consider (i) identifying and contacting a list of potential employers, (ii) make up a project to demonstrate your value to a potential employer, (iii) gain as much specialised knowledge about the industry as possible and (iv) consider working for free.
- Identify 30 different potential employers that you want to work for. Set up a spreadsheet with ideally 25 of the 30 being locally based so you can visit these firms face-to-face. Whilst email and phone are great for recurring contact and for reaching those employers farther afield, nothing beats face-to-face meetings. Gather the phone, email and physical address of each employer and track the development of the relationship and any feedback you receive, in the spreadsheet.
- Make up a project. Even if an employer outlines that they are not offering an internship, ask them if you can run through a project you think would be beneficial for their company. A competitive analysis report, whether it be based on what other financials firms are doing or what software systems are being used, are typically well received.
- Gain as much specialised knowledge as possible, through reading books, blogs, websites, newsletters and other publications. Also consider earning a financial analyst designation or certification, such as the financial analyst specialist program, which can be found on the Financial Training website. This enables you to speak the language used in the industry. It also highlights that you are passionate about the industry and have spent both time and energy in educating yourself.
- Consider working for free. Whilst some are immediately turned off by this, you can approach an employer that is not hiring and agree to work for free for a period of time. By working hard, an employer should recognise the benefits you bring to the firm and might agree to hire you on a more permanent basis.
I hope that this video has provided you with some useful tips and strategies for getting an internship in financial analysis.
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