Finance Internships in 2014: A Glimpse into a Recovering Market

The year 2014 marked a significant period in the post-financial crisis recovery, and this resurgence heavily influenced the landscape of finance internships. Banks and financial institutions, still cautious but increasingly optimistic, began to ramp up their internship programs, offering valuable opportunities to aspiring financial professionals.

Key Trends

Several key trends characterized the finance internship scene in 2014:

• Increased Competition: With the economy improving, more students pursued finance careers, leading to intense competition for available internships. Strong academic records, relevant extracurricular activities (finance clubs, investment societies), and demonstrated leadership skills were crucial for standing out.
• Focus on Risk Management and Compliance: The regulatory landscape following the crisis heightened the demand for interns in risk management and compliance departments. These roles provided exposure to the intricacies of regulatory frameworks and risk assessment methodologies.
• Rise of FinTech: While still in its early stages, the FinTech sector began to attract attention. A few forward-thinking companies offered internships focused on applying technology to financial services, such as payment processing, lending, and investment management. This was a nascent area, but a sign of things to come.
• Investment Banking Still King: Investment banking internships remained highly coveted, despite the demanding workload and intense pressure. These roles provided invaluable experience in mergers and acquisitions, equity and debt financing, and financial modeling.
• Opportunities in Asset Management: Asset management firms, including hedge funds, mutual funds, and private equity firms, offered internships focused on investment research, portfolio management, and trading. These internships often required strong analytical and quantitative skills.

Common Internship Roles

Typical internship roles available in 2014 included:

• Investment Banking Analyst Intern: Supporting senior bankers in financial analysis, due diligence, and deal execution.
• Sales & Trading Intern: Assisting traders and sales professionals with market research, order execution, and client communication.
• Risk Management Intern: Monitoring and assessing financial risks, developing risk models, and ensuring compliance with regulations.
• Wealth Management Intern: Supporting financial advisors in client relationship management, financial planning, and investment recommendations.
• Corporate Finance Intern: Assisting with financial planning, budgeting, and analysis for internal corporate functions.

Looking Back

A 2014 finance internship provided a solid foundation for a career in the industry. The lessons learned, the networks established, and the practical experience gained were invaluable. The recovery was underway, and these internships played a significant role in shaping the next generation of finance professionals.