Most Prestigious Finance Internships

Every year, top financial firms attract thousands of applicants for internship roles. For summer 2023, Goldman Sachs reported 260,000 intern applications, a record for the company. With an acceptance rate of roughly 1.0%, the company accepted 2,970 globally.

For those pursuing a career in finance, an internship at the top banking and investment firms is highly competitive given the opportunity to break into a high-paying field. Interns at top firms can earn anywhere from $10,000 (in commercial banking) to $35,000 (at a hedge fund) or even more over a 10-week period. Interns at 16 top Wall Street firms saw their pay jump 19% in 2023, according to Levels.fyi, which analyzes user-submitted compensation data. And landing a job as a full-time junior banker can pay up to $130,000 in the first year.

From J.P. Morgan to Citigroup, internships at the world’s largest financial firms provide the opportunity to conduct research and financial analysis and gain hands-on experience in the field. Here are some of the most prestigious finance internships for 2024, based on a survey of thousands of interns from Firsthand, a career services platform.

1. Goldman Sachs

• Location: North America, Europe, Asia
• Length of internship: Six to 12 weeks
• Duties performed: It varies across departments. For the Summer Analyst Program in the Investment Banking department, responsibilities include assisting bankers in developing pitchbooks and mergers and acquisitions. In Equities, interns help facilitate large-scale equity, foreign currency, commodities, and fixed-income transactions. 
• Qualifications: Undergraduate students who have completed their first or second year in a finance-related degree
  

2. Morgan Stanley

• Location: North America, Europe, Asia, Brazil, United Arab Emirates
• Length of internship: 10 weeks
• Duties performed: It varies based on the program. The Investment Banking Analyst Program may include analyzing and comparing financial performance, presenting research, participation in financing and mergers and acquisitions, as well as liaising for the team and other departments.
• Qualifications: Undergraduate students who have completed their second or third year of study

3. JP Morgan

• Location: Global
• Length of internship: Nine to 10 weeks
• Duties performed: It varies across internship programs. For the Investment Banking Analyst program, responsibilities include financial modeling and valuation, along with gaining experience in client deals and transactions in leveraged buyouts and capital markets advisory.
• Qualifications: It varies based on the program. For some, undergraduate students who have completed their first three years of study. If enrolled in a master's degree, the internship must be pursued within two years of a bachelor's degree.

4. BlackRock

• Location: Americas, Europe, Asia
• Length of internship: Eight to nine and a half weeks
• Duties performed: It varies by program. For the Summer Analyst Program, interns conduct day-to-day activities pertinent to their teams. In addition, applicants may apply to two other opportunities in the field, such as portfolio analytics or internal audit.
• Qualifications: Undergraduate students who have completed their second or third year of study or master’s degree students that are graduating within one to two years
  

5. Berkshire Hathaway

• Location: United States
• Length of internship: Unknown
• Duties performed: While little is known about specific internship duties, Berkshire Hathaway offers intern opportunities across accounting/finance, actuarial science, claim operation, marketing, IT systems/programming, legal, and underwriting departments.
• Qualifications: Undergraduates who have completed at least one year of schooling

6. Bank of America

• Location: United States, Canada, Europe, Middle East, Africa, Asia Pacific, Latin America
• Length of internship: Varies
• Duties performed: It varies across programs. For the Advisor Development Summer Analyst Program, responsibilities include client engagement, portfolio review, and client research. Experience may also include supporting the team across projects in operations, sales, and product research.
• Qualifications: Students who are currently enrolled in an undergraduate or advanced degree

7. American Express

• Location: United States, United Kingdom
• Length of internship: Nine weeks
• Duties performed: Through the Sophomore Finance Internship, candidates are placed in one of the firm’s finance functional organizations. Here, interns work on a project where they are paired with a mentor and core analytical skills are applied for the project's progress and completion.
• Qualifications: Undergraduate students that have completed their second year of study. There are also 10-week programs for undergrads entering their final year of study and for first-year MBA students.
  

8. Deutsche Bank

• Location: United States, Europe, Asia Pacific
• Length of internship: Nine to 10 weeks
• Duties performed: It varies by program. The Seasonal Investment Banking Internship includes financial analysis, market research, sector analysis, financial modeling, and pitch presentations.
• Qualifications: Undergraduate students who have completed their third year of study across any field of discipline

9. Citigroup

• Location: United States, Canada, Puerto Rico, Europe, Middle East, Asia Pacific, Latin America, Africa
• Length of internship: 10 to 12 weeks
• Duties performed: It varies by program. The Investment Banking, Summer Analyst Program includes experience in mergers and acquisitions, divestitures, underwriting, and financial restructuring. It may also include financial analysis and the distribution of debt, equity, and derivative securities.
• Qualifications: Undergraduates that have completed second year of study across any field of discipline

Other Notable Finance Intern Programs

In addition to the above programs, the following financial firms offer noteworthy internship opportunities:

Blackstone Group

• Location: United States, Europe, Japan, Singapore, United Kingdom
• Length of internship: 10 weeks
• Duties performed: It varies by program. Summer Analysts in the BlackStone Finance Leadership Development Program may forecast and report detailed firm P&L and capital metrics financials to senior management. Other duties may include creating analytics, profit models, and working with investor relations.
• Qualifications: Undergraduate students who are completing their third year of study

Lazard

• Location: Austin, Boston, Charlotte, Chicago, Houston, Los Angeles, Minneapolis, New York, San Francisco
• Length of internship: Nine weeks
• Duties performed: For the Summer Analyst Program, candidates conduct industry research and financial analysis, along with assisting in the development of client presentations.
• Qualifications: Undergraduates who have completed their third year of study. Those in a final year of a masters program can also apply.

The Bottom Line

According to the National Association of Colleges and Employers, when companies are choosing between equally qualified job candidates, having had an internship—with the hiring company or another firm—is the top deciding factor for a candidate to be hired. Not only is landing an internship at a reputable firm an excellent way to get started in investment banking, it also provides on-the-job experience that prospective employers will be looking for.

While the application process is cutthroat, securing an internship position is a prime opportunity to gain insight from senior bankers, learn technical skills, and progress to a full-time position. For many of the most coveted financial firms, an internship is a surefire way to transition into an entry-level role.