Landing a Wall Street internship in New York City requires outstanding academic performance, a strong resume, a network in the financial community, and persistence. Candidates should start building relationships and a solid curriculum early on and choose a course in conjunction with the specific financial industry they want to pursue. Professionalism and persistence are key.
Given New York’s position in the global financial community, landing an internship on Wall Street is a competitive process that often requires outstanding academic performance in a related field, a strong resume, a network in the financial community, and persistence. The competitive nature of an internship on Wall Street means that almost every available position will have multiple applications. Landing an internship is a process that starts with the candidate knowing the industry segment they want to pursue and therefore knowing which companies to target. The process can begin two years before enrollment, choosing the right course when entering college or university.
New York City is the financial center of the United States and, along with London, among the financial centers of the world. Wall Street is an actual street in the financial district of downtown New York City, but it is also a general term used as a name for the broader financial industry in New York City, including banks, investment banks, stock exchanges, rating services, and government oversight agencies.
Many of these finance companies offer competitive internship programs. Prospective applicants will want to choose a course in conjunction with the specific financial industry they wish to major in. Grades are important, and an average of 3.0 on a 4.0 scale is typically considered at the very least a serious Wall Street internship candidate. Applicants generally apply after their sophomore or sophomore year of college, and because of the competition, many find it prudent to start as early as possible and have two chances at a program.
Work experience may be limited for a college-age candidate; however, a solid curriculum can be built by properly selecting courses in the faculty, attending related seminars and workshops, joining appropriate academic or professional societies, and developing relationships with mentors. It is equally important to build a network of contacts in the financial community, and this process can coincide with curriculum building activities.
Candidates can begin by building relationships with faculty and professionals in their college or university communities. Family and friends are also a typical source for building a network. Business networking sites, which are the professional equivalent of social networking sites, can also help people meet.
Professionalism and persistence are the ultimate requirements to apply for an internship on Wall Street. Ensure that your resume and all application materials meet current professional standards, which means they must live up to the job applications that the company offering the internship is receiving. Since college sophomores, juniors, and seniors often apply, starting early and persisting can help the candidate. Patiently build the average, curriculum, and grade grid needed to build the strongest application suite possible.
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