You probably already know that a finance internship at a top firm can put you on the fast track toward a future career in finance by building up your résumé as well as your network. But, which are the top companies for finance internships and what sets them apart from their competitors? Here’s a list of some of the top companies, based on data from Vault and Universum, as well as information on the particulars of each finance internship.
1. AT&T Financial Leadership Program Summer Internship
Why it made the list: Included in Vault’s top 50 internship for several years; 99th most attractive company for US business students (Universum 2015)
Duration: 10-12 weeks
Locations: Texas, Georgia, New Jersey, California
Number of MBA internships available: 19
Who they are looking for: First-year MBAs with at least three years of work experience as well as a degree focus in accounting, business administration, economics or finance.
Internship experience: The FLP summer internship provides MBAs with challenging high-exposure internship experiences across AT&T, including areas such as investor relations, treasury, and corporate financial planning & analysis. The FLP experience also includes orientation, mentors, executive lunches, facility tours, and social events.
Opportunities for advancement: High-performing interns are considered AT&T’s full-time Financial Leadership Program, a three-year leadership development and rotational program across several different departments as well as other full-time positions within the company.
What a past intern has to say: Jennifer Tseng, a 2015 Duke Fuqua MBA graduate describes her 2014 AT&T MBA internship experience as “exhilarating”. Tseng’s finance internship took place right after AT&T’s acquisition of DirecTV. “As a finance intern, I was engaged in exciting discussions around the acquisition every day, while being exposed to leadership within the mobility business,” she states. Tseng went on to become a full-time FLP participant and continues to enjoy her experience at AT&T.
2. Wells Fargo Summer Internship Program
Why it made the list: 29th most attractive employer by US business students (Universum 2015)
Locations: Charlotte, New York, San Francisco, Houston and Los Angeles
Who they are looking for: In addition to having an interest in the financial services industry and experience working in a team environment, candidates must demonstrate leadership, critical thinking, communications and project management skills.
Where they recruit: Information sessions held on college campuses throughout the US. Wells Fargo also has partnerships with MBA-related organizations such as including the National Black MBA Association, National Society of Hispanic MBAs, Reaching Out MBA, Asian MBA, and MBA Veterans, and has a presence at their conferences and career expos, where recruiters actively source MBA candidates for internship programs.
Internship experience: According to a company spokesperson, “[Wells Fargo is a] company that cares about people, where teamwork is valued and rewarded, where how the work gets done is just as important as the work getting done.” Wells Fargo’s MBA internship programs are designed to complement lessons MBAs learn in their classes and put them into direct contact with senior leadership.
One of Wells Fargo’s MBA internships, the Wells Fargo Investment Banking Summer Associate Program gives interns the opportunity to explore what it’s like to be a Wells Fargo Securities associate in either investment banking or sales and trading. Interns get to structure and execute transactions, perform research and analysis, prepare client materials and participate in client meetings alongside senior management.
For more information about MBA hiring at Wells Fargo, read the TopMBA interview with Lance LaVergne, Wells Fargo’s senior vice president and head of the Enterprise Talent Acquisitions and Strategy Practice Group.
Opportunities for advancement: A Wells Fargo spokesperson told TopMBA that the company’s MBA internships allow the company to determine what a future role and placement might be. When there is alignment between an intern’s skills and the needs of the business, it is typical for him or her to return to Wells Fargo as a full-time employee.
3. Fidelity Investments Financial Leadership Program
Why it made the list: Ranked 85th most attractive company for US business (Universum 2015)
Duration: 10 weeks
Who it’s for: First-year MBAs
Internship experience: Fidelity Investments’Financial Leadership Program gives MBAs the opportunity to become an integral part of the team and contribute to one of Fidelity’s businesses. Interns work directly with company leadership and participate in development activities.
Opportunities for advancement: Based on their performance, summer interns may be offered a full-time position in Fidelity’s two-year Financial Leadership Program post-MBA.
What a past intern has to say: David Wakefield, Fidelity Investment’s vice president of strategy, planning and analytics, has been working with the company since 2004 and was once a participant in the Financial Leadership program. Wakefield says, “[The program gave me] a hands-on opportunity to experience working on different parts of the business during my MBA program. There was also a formal curriculum as a supplement to the practical work, so I was able to connect what I was doing to the company’s business goals.”
4. Citi MBA Internships
Why it made the list: Ranked 89th most attractive company by US business students (Universum 2015)
Duration: 10 weeks
Location: New York, Los Angeles, San Francisco, Chicago and Houston
Who it’s for: First-year MBAs
Recruitment process: Internship candidates are recruited on business school campuses in the fall and interviewed in January and February.
Internship experience: Citi’s MBA interns participate in hands-on work alongside analysts and associates. According to Courtney Storz, Citi’s head of North America Graduate Recruitment and Program Management, "Citi's programs give interns the opportunity to have a real impact while doing real work, and many of them return as full-time analysts and associates following graduation."
Want to know more about MBA job opportunities at Citi? Read TopMBA’s recruiter interview with Courtney Storz.
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