Question: Is it important to get an internship in the investment banking industry before applying for a larger position?
Answer: Internships seem to be getting more and more important in the investment banking hiring process, but they are by no means necessary to finding work in the industry. This last statement is evidenced by the fact that many banks do not actually offer a formal internship. The typical internship takes place the summer before a candidate’s final year of schooling – undergraduate for analyst positions and MBA programs for associate candidates. For students who know that they want to try to enter investment banking, a summer internship is a great way to see the profession first-hand as well as to possibly earn an offer of full-time employment after graduation.
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