More than a clever way of gaining relevant practical knowledge of the function of a business, finance internships are also frequently identified as the best way to land a full-time job. They form an excellent opportunity to test out your theoretical skill sets, get insights to employer or career paths and extend your professional network. The specific attributes of internships, such as their duration, type, and whether or not they are paid, tend to vary. More than providing valuable and relevant experience, an internship extends your professional network, which may be one of the most valuable currencies in a modern working environment.
Positions within finance are divided between two distinct, yet highly interrelated functions, namely accounting and financial posts. Accounting positions are focused on collecting and recording the financial transactions of an organisation to the benefit of both internal and external stakeholders, while financial positions relate to the management of the financial operations of the firm. Relevant internship posts within these disciplines can differ vastly.
Tip: Make sure to do some research on what kind of tasks might await you in the field of finance! That knowledge will make it much easier for you to answer and ask questions in a job interview.
Being the world’s most powerful economic and military power, the United States has long been a popular destination if you are looking for internships within finance. The country’s gross domestic product accounts for nearly a quarter of the world total, whereas its military budget exceeds that of all the other Western countries put together.
The US is also home to some of the largest companies in the world, such as ABB, Abercrombie & Fitch, BAE Systems, Bank of America Merrill Lynch & Booz Allen Hamilton. Therefore, there are several internship opportunities in the finance field.
Boasting some of the most successful educational institutes globally (Harvard and Yale being just two of the most prominent examples), the country attracts the highest number of international students each year. A major challenge for most people wishing to work in the States is not finding a job, but obtaining a work visa. Figuring out what type of visa you are eligible for and working through all the rigid requirements is a task that takes quite a bit of time. 2 US universities are active partners in the Graduateland Network, the University of Wisconsin - Madison and the Leeds School of Business at the University of Colorado Boulder.
Tip: Be aware that the requirements for job applications in USA may be different from what you are used to. Check the points where you can adapt your CV, cover letter, and communication with employers to local standards.