Winter investment banking internships are highly coveted roles for students looking to break into the competitive field of investment banking. Landing a winter internship is seen as the most promising path to securing a full-time offer from a top bank. However, the application process is fierce with thousands of candidates vying for limited spots. Succeeding requires extensive preparation, networking, and interview skills. This article will provide key insights on how to make yourself stand out and maximize your chances of landing an investment banking winter internship offer.
Perfect your technical skills through modeling courses and certifications
Taking financial and valuation modeling courses is essential preparation for investment banking technical interviews and day-to-day work. Prospective candidates should master Excel, DCF, LBO, M&A models through training programs like Breaking Into Wall Street. Earning certifications like CFA Level 1 also signals technical competence. Banks assess modeling skills rigorously during interviews, so dedicated practice is a must.
Start networking early by attending info sessions and leveraging alumni connections
Networking is crucial because many banks fill internship spots through referrals before formal recruitment begins. Attend bank info sessions, coffee chats, conferences and other networking events. Reach out to alumni at your target banks through LinkedIn and campus alumni clubs. Networking is a long game, so start building relationships early.
Craft a compelling resume by quantifying achievements and tailoring to each bank
Your resume must convey why you’re a strong candidate through quantifiable achievements like P&L impact, deal/project size, ranking/awards earned. Research each bank’s culture and priorities when customizing your resume, and work resume reviews into your networking conversations. Resumes are gateways to interviews, so make yours polished and targeted.
Prepare thoroughly for technical and fit interviews
Extensive interview prep is essential. For technicals, practice modeling tests and stock pitches. For fit interviews, refine your story using the STAR method highlighting leadership, teamwork, overcoming challenges. Mock interviews help identify gaps. Show passion for finance and convince interviewers you’ll contribute and fit in.
Apply broadly and maximize chances by being flexible with location
Applying broadly to multiple banks in different regions improves your odds given the low acceptance rates. Be open to working in various office locations as an intern, which expands options. If you get interviews at competitive banks like Goldman or Morgan Stanley, do cases repetitively until they become second nature.
Getting an investment banking winter internship takes immense preparation through self-study, networking and resume building. Mastering technical skills, crafting tailored resumes, acing interviews and applying widely give candidates the best chance of securing these competitive but potentially career-making roles.