How hard is it to get an internship on Wall Street?

Flickr / Nazareth College Getting an internship with a large Wall Street firm is notoriously difficult. This year, Morgan Stanley accepted only 1.1\% of applicants for its summer internship program. Similarly, Goldman Sachs only took about 2\% of applicants in 2013.

How do I prepare for a Wall Street internship?

16 ways to crush your summer internship on Wall Street

1. Establish yourself as a go-to person.
2. Work on your communications skills.
3. Learn to work with a team.
4. Learn to use Excel.
5. Don’t waste your time with unnecessary research.
6. Use online prep materials.
7. Learn to use the Bloomberg terminal.
8. Be confident.

What should I wear to a Wall Street internship?

Dear New Wall Street Interns: This Is How You Should Dress

• Know your audience. Mohammad Jangda.
• Stick to the basics.
• Remember not all offices require suits.
• Don’t go cheap on the shoes.
• Avoid bit loafers like the plague.
• Do not wear suspenders.
• French cuff shirts should be worn with a jacket.
• Don’t go too formal.

What do IB interns do?

In the internship, you assist full-time Analysts and Associates with everything imaginable, ranging from menial tasks such as ordering food and coffee to tasks that require slightly more thought, such as presentations, financial modeling, and deal analysis.

Can you intern on Wall Street?

Even if that’s somewhat of a stretch, it’s true summer internships on Wall Street are a key pathway to finding full-time employment at investment banks. Successful interns at top firms during the summer before their senior year can expect to walk away with an offer letter for a job that often pays upwards of $100,000.

Do traders wear suits?

As the other answer indicates, those traders who need to meet with clients will dress somewhat more formally. A few traders of my acquaintance will wear a traditional suit and tie when appearing on CNBC, etc.

What do female investment bankers wear?

1. The Most Important Business Professional Attire for Women: The Suits. A skirt suit is considered to be the most business formal attire for women, but pantsuits or suits with a dress and blazer are other options. If you do opt for pants, hem them for the type of shoe you plan to wear (flats versus heels).

Is a Wall Street internship right for You?

Many firms hire from their intern pool, and even if you end up working somewhere else after college, a successful internship will give you an edge in the hiring process, along with a better understanding of the world you’re hoping to enter. Determine which type of Wall Street job is best suited for you based on your personality and skills.

What degree do you need to work on Wall Street?

Typically, you’ll need at least a bachelor’s degree in a business or math-related major to work on Wall Street. Generally speaking, the most sought-after skills on Wall Street today focus on data science, technology, and risk management. Investment banking is still one of the most tried-and-true routes to Wall Street riches.

How do I get a job on Wall Street after college?

Call companies and send out resumes. Take advantage of resume and job search tools such as LinkedIn. If you are still in college, apply for Wall Street or general finance internships. If you have graduated and cannot secure a front office, entry-level Wall Street job, consider applying for a support position.

How do I get a job on a Wall Street firm trading desk?

The easiest way to get access to a Wall Street firm trading desk is to reach out to an investment bank. Obviously, it helps if you’re at a feeder school to get a foot in the door, but you still have to prove yourself once you’re there. Begin applying for summer trading internships at the major investment banks as soon as they put the call out.