Photo: flickr: Francois Storr
Interning on Wall Street may be lucrative, but it is gruelling work. The competition is stiff, the hours, are long, and frankly, it’s rather thankless.For all those reasons, the Wall Street internship is very easy to screw up. And you do want your offer, don’t you? Yes you do.
So Business Insider is here to help. We asked our sources who have not only been interns, but also had their own interns share their thoughts on what makes a terrible Wall Street summer.
Consider this a “To NOT do list.”
If you want to be an analyst, you've got to put up with the hours. They're technically the lowest rung on the totem pole -- until the interns show up, that is -- so don't complain about 6 day work weeks or 14 hour days. There's no getting out of them anyway.
Drinking on weeknights may be a given in college, it may even be a given on Wall Street, but here's the difference -- on Wall Street you have to come into work the next day like it never happened. It's that simple.
As an intern, you're going to get asked to do a lot of boring stuff no matter who you are or where you come from. The new rule is: You're not above any task. Regardless of what you're doing, do it without complaint and as well as possible.
This is one of the single most embarrassing things you can do. Remember the Citi intern who sent around a detailed invitation to her birthday at the Ritz Carlton (complete with arrival times, gift and dress suggestions) and became a laughing stock at the bank? Yes, so do we, and that was 2006.
That said, wait to conduct your personal business at home.
You never know who can help you or put a good word in for you when offer time comes around. That said, meet anyone you can and be nice to everyone. You never know -- your boss's assistant might tell him what a nice young man or woman you are.
Listen, we understand you would like a day off to celebrate America, have beer, and sit by the pool. So does everyone else in the office. Sales and trading summers get lucky here because markets close, but for those of you on the IB path, you'll be working on comps and finalising presentations for whichever deal you're trying to close.
You'll be working long hours when you're a summer. So will the analyst and associate on your team. If you didn't have to stay the night, someone on your team probably did and is bleary eyed starring into an Excel doc. Offer to grab them some coffee. It'll give you the chance to get away from your desk, and give your team a reason to fight for you when full time offers are made.
Things get tricky when summer offers start coming out. Unless you're positive you want to commit to the bank that first offers, wait a bit -- many universities require employers wait until the last recruiting events end before setting deadlines to accept. If you do say yes, and suddenly get a second offer, you can get caught in limbo. rumours spread routinely of summers and first-years black listed by HR departments across the Street. Also, that non-compete agreement you signed when you took your offer can legally keep you out.
Awesome, you got your summer offer. Time to celebrate with the roommate? No. Nearly all summers are drug tested before starting and the worst way to finish your time in finance is by never getting a start.