Learn about investment banking from interviews with summer interns at Goldman Sachs, Morgan Stanley, and J.P. Morgan. Topics include the appeal of investment banking, protected Saturdays for work-life balance, importance of communication, differences between banks in interviews, choosing Goldman Sachs for exposure to finance and M&A, tips for getting into banking at the MBA level, and personal and career growth.
When preparing for banking interviews, it is crucial to be organized and take the early coffee chats seriously, building a team of supportive peers who can help you prepare and offer feedback is beneficial.
Interning at these top bulge-bracket banks provides unique benefits, such as wide exposure to finance with opportunities to work on various product groups and sub-verticals, a global reach and extensive exposure to different teams, and a generalist program where interns have the chance to work across different teams, gaining exposure to diverse products and industries.
Deep dives
Preparing for Banking Interviews and Tips
When preparing for banking interviews, it is crucial to be organized and take the early coffee chats seriously. Don't underestimate the importance of making a good first impression as every interaction is evaluative. Building a team of supportive peers who can help you prepare and offer feedback is beneficial. Additionally, don't be afraid to be authentic and sincere during the recruiting process. Showcasing your genuine personality and interests can make a difference and foster connections with bankers. Lastly, be curious, stay informed about current events, and nurture your hobbies as they can add depth to your conversations and make you a more well-rounded individual.
Benefits of Interning at Goldman Sachs, JP Morgan, and Morgan Stanley
Interning at these top bulge-bracket banks provides unique benefits. Goldman Sachs offers wide exposure to finance with opportunities to work on various product groups and sub-verticals. The culture can be described as grindy and face-time oriented but also rewarding. JP Morgan provides a global reach, extensive exposure to different teams, and valuable mentorship opportunities. The bank emphasizes being proactive in seeking feedback and offers protected Fridays and Saturdays to maintain work-life balance. Morgan Stanley offers a generalist program where interns have the chance to work across different teams, gaining exposure to diverse products and industries. The bank has a respectful culture that values communication and considers employee needs. Protected Saturdays and weekends are not provided, but employee relationships and transparency contribute to a positive work environment.
Insights from Banking Internships
During their banking internships, the interviewees gained valuable skills and experiences. They had the opportunity to work on live deal transactions, including M&A and business development pitches. Responsibilities included assisting with client decks, conducting industry research, and performing valuations. Interns had to manage their time effectively and prioritize tasks due to the fast-paced environment. They also developed important professional skills such as attention to detail, relationship management, and being intentional with time. Feedback played a significant role in their growth, particularly for technical aspects and communication skills. The workload was predominantly focused on PowerPoint, Excel, and industry-client meetings, depending on the team and group.
Advice for Personal and Professional Development
When reflecting on their personal and professional journeys, the interviewees shared valuable advice. They emphasized the importance of nurturing hobbies and interests outside of work, as it contributes to being a well-rounded individual. Traveling, trying new experiences, and broadening one's horizons were encouraged during college years. Developing good communication and self-reflective skills, such as seeking feedback and being curious, were highlighted. Taking risks, being authentic, and connecting with others in a genuine manner were also mentioned as pivotal aspects of personal and professional growth. Finally, the interviewees underscored the significance of being organized, approaching practical tasks diligently, and building strong peer networks.
Learn about the world of investment banking from an interview with 3 Wharton MBA classmates who summer interned at Goldman Sachs, Morgan Stanley, and J.P. Morgan.
🔎Disclaimer🔎 This is for educational purposes only. Some of the links above are affiliate links, meaning that at no additional cost to you, I may earn a commission if you click through and make a purchase.
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