Freshman Internships

Jobs in the finance and business sector are some of the most competitive positions in the job market. This is because finance and business jobs lead to making unique relationships, the pay is great, and you have a wide range of exit opportunities to transition somewhere else after a few years of working in the finance or business industry.

The best way to get a stellar finance or business job is by having an internship from that company the summer before. Unfortunately, it’s infrequent (nearly impossible) to achieve a stellar finance internship at a top firm with no connections as a freshman. It’s usually more common to find internships with smaller or less competitive companies to meet people and garner the right skill set before entering a highly competitive company. 

If you’re reading this as a freshman or younger, you still have much time to prepare for trying to get an excellent job in these sectors. The best thing you can do right now is to intern and build relationships with people in the industry you desire.

Doing a finance or business internship as a freshman can set you apart for your entire recruitment process to whichever industry you aspire to join. As a freshman in college, it isn’t easy to find a company that’s willing to hire you. However, there are some ways you can significantly improve your chances of earning an internship as a freshman.

Video Breakdown: Land an Internship with No Experience

Are you a freshman in college with little to no work experience? Don't worry, we've all been there and know how hard it can be to land an internship for your first college summer. Consider watching this walk through of the 6 easy steps you can take to land an internship as a freshman.

Three Ways to Stand Out

Following each of these pieces of advice will enable you to stand out to recruiters and can significantly help you earn an internship.

Network: networking is making connections and building relationships. 

Networking is one of the most crucial things you should do to get an internship. Knowing the right people inside a firm can boost your chances of getting an interview, which can lead to an internship. When recruiters decide who should get an interview, having someone vouch for you in that room can make you stand out above the rest.

How To Network In 5 Steps

#1 Decide Whom You Want to Approach

• This could be someone who has a similar job to what you might see yourself doing in the future.
• This could be someone from a company you’re interested in working for in the future.
• Ask a couple of individuals, and when someone says yes, move on to the next step.

#2 Prepare For The Meeting

• This is the time to prepare your personal introduction (which is a 30 - 60 second pitch entailing who you are, what you do/have done, and your interests/passions).

#3 Have The Meeting, And Ask Questions to Learn and Understand

You’re driving the meeting and should ask fantastic and impressive questions.

Examples: 

• What skills helped you reach the position you have now?
• What’s one piece of advice you would give to yourself when you were my age?
• What attributes does someone need to have to be really successful in this industry?
• Where do you see the industry moving in the next five years?

#4 Conclude The Meeting

• Say thank you for your time.
• Ask them for two references you can coffee chat.

#5 Send a Thank You Note

• Make sure to send a follow up thank you note after your conversation.
• Try to send a physical thank you note if possible (more of a personal touch), otherwise be sure to at least send a thank you email.
• Try to avoid generic thank you email templates and instead try to reference some actual points brought up in the conversation.

It's A Numbers Game

The more people you meet with and have meaningful conversations with, the greater chances you have to make a solid impression which can lead to that person vouching for you come recruitment season for an internship. Don’t have four coffee chats with recruiters from two companies and expect that the conversations went phenomenal. In other words, don’t put your eggs into one or two baskets. Try to diversify with whom you discuss and continue finding new people.

It would be best if you used LinkedIn to keep track of and in touch with all the people you have met in your recruitment journey. Also, you shouldn't ask the people you meet for an internship the first time you meet them.

Set Yourself Apart

Find ways to make your application and resume stand out when competing to get the internship you desire. There are several ways to make an application stand out. Here are some examples:

• Learn to speak a language.
• Enroll in a course to boost your skill set (Career Principles offers several courses such as Excel, PowerPoint, and the Complete Valuation and Finance Course).
• Learn a coding language.
• Join career-specific clubs (for example finance or business clubs).
• Be a course/teaching assistant for a class.

Once you do one or more of these tasks of setting yourself apart, then craft a stellar resume including the skills and experiences you have that set you apart from other candidates. Career Principles offers an incredible free resume article that you can use to build your own resume. 

If you get an interview with a company, this is the time for you to shine! Start by studying Goldman Sachs Interview Questions and conduct interview preparation with your friends to polish your behavioral and technical answers. 

In conclusion, remember the three pillars of success to follow are network, the numbers game, and setting yourself apart.

Additional Resources

If you want to learn more about the recruiting process, Career Principles is the place for you! There are dozens of articles, and several courses available that you can use to build a strong foundation for your career.