An internship is a wonderful way to get acquainted with the industry you’re going to work for after graduation.
In this guide, I am going to cover and share a complete resource to find and apply for finance internships in India. You’ll be learning the following modules:
An internship is a short-term position in a company, typically taken to ‘test waters’, as in a student is able to judge his/her suitability in the chosen industry.
An internship usually happens in summer vacations or while studying, and each intern is paid a stipend (optional) for their contribution.
A survey by the National Association of Colleges and Employers (NACE) shows that graduates with internship experience are valued highly by prospective employers, and their employment rate is higher, of course.
This is but a single survey. There’re scores of others proving the same point.
As a finance intern, your job profile will be clerical in nature.
You have to sit with investment advisors to learn client negotiation, with brokers to learn security selling and order execution, you have to maintain records, do data entry, follow portfolio and audits, handle data maintenance and more.
For instance, you’ll be asked to contact customers and update their system data, review current account and share approved information with the customer.
Sometimes interns are asked to handle short-term projects.
Completing the projects to satisfaction will reflect nicely on your resume and get you good references.
Experience as an intern is invaluable.
A stipend is not mandatory. You’re usually paid below Rs. 20000 for full-time internships jobs in India.
However, many companies don’t pay stipends. So, should you avoid these companies?
Never! Of course, unless you need financial support desperately, there is no point in leaving unpaid internships.
Finance is a competitive field and hence, unpaid internship opportunities are more. Even so, you do get experience and understand if finance is genuinely for you.
While evaluating an internship opportunity, you must think through these factors:
These four factors will help a lot.
We will see two factors here.
Finding a finance internship is easy. You can search for job resource sites like LetsIntern.com, Monster.com, Shine.com, Internshala.com and more.
If you’re looking for the best hands-on experience in Finance through summer finance internship and internship jobs, here’s your ready “go-to” resource.
This is a list of companies hiring finance interns. We aren’t claiming any internship opening at the time of reading this post.
You should enquire with them through their business website or job portals like LetsIntern.com and Naukri.com.
Below is the list of companies from cities like Mumbai, Chennai, Gurgaon, Hyderabad, Bengaluru, Noida, and Thane.
This is an incomplete list. You can find the complete and updated list of all companies and corporations working in the banking and the financial services industry here.
Bookmark this link, check them out and send your internship profile.
Alternatively, view this list of updated and available finance internships for 2020.
This is a tricky zone. Most internship seekers fail in making the right impression with their application. The application, ideally, consists of these things:
The 2nd and 3rd points are problem areas.
Every job application should include a cover letter unless the advertisement clearly states not to include one.
The purpose of a cover letter is to give the employer information about your skills and experience which can’t be explained in resume.
If you don’t have that, like in this case, the cover letter acts as an introduction. Check out the cover letter below.
You will notice how the applicant shares her knowledge and expresses interest in working for the organization. Use it as an example of your cover letter.
An interviewer won’t devote more than a minute scanning a resume. You have to make the best impact. Here are two resume samples.
Resume sample - without finance internship experience
Resume sample – with some internship experience
Moving on, here are some resume writing tips to secure a finance internship.
Lastly, don’t send out the same cover letter to every employer. Tweak it depending on the internship requirements.
This is the last step.
Finance internship interview questions are tough to crack because most probably, this is the first interview of your life.
Consider yourself lucky if shortlisted for interview.
Here are some questions to expect your way and some tips to answer them.
Mirror practice these questions. Perhaps you’re expecting answers to these questions but no one can offer that.
You have to create your own. Whatever you say, just make sure you don’t babble and deviate from the question.
If you notice, these questions have nothing to do about finance or your finance skills because they know that you lack experience.
What the interviewer will try to assess is your personality and character, your common sense and logical skills.
Be prepared very well and dress your best!
Not only in India, try to seek an internship position abroad too. Since you won’t be visiting the foreign lands, all communication will be done through emails.
You’ve already learned about writing a resume and cover letter. You can also easily search for finance internship opportunities abroad.
Apart from that, you need to follow these tips:
Start at least 6 months in advance – searching, short-listing companies and concerned person contact email – and keep track of openings.
Don’t get disheartened with not finding the ‘right’ internship opportunity or not at all.
The internship isn’t mandatory to get a finance job yet!
We hope the guide will help you in getting the right internship opening.