By  Fri Dec 6, 2013

The Best Banking and Finance Internships for 2014

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We recently wrote about the best banks to work for in America, which spurned us to think about the best and most lucrative financial and banking internships in the U.S.

According to Glassdoor, a jobs and career community, after analyzing its millions of company reviews and job listings, there are quite a few leading financial corporations that are actively hiring interns, whom they treat very well, we might add!

The data includes company ratings and reviews from real interns, as well as average monthly base pay and title. We took a sample of the companies in several financial sectors, such as accounting and banking. Here are the top companies with great reputations that are actively hiring interns:

PwC

Field Title Compensation
Professional Services Firm Many different intern positions $4,140.80 (amounts averaged)

FSA Intern: “I worked at PwC as an intern for less than a year. Pros — great exposure to financial services; there isn’t a whole lot of places where you’ll be exposed to as many different industries as PwC. Great team-based setting where you’ll be mentored by very smart people. Open door policies where interns can just a pop into a manager or director’s office for a chat. Can’t complain about the pay. Cons — long hours, but then again everyone should’ve known when they signed up for a Big Four firm.”

KPMG

Field Title Compensation
Professional Services Firm Intern $3,729

ITA Intern: “I have been working at KPMG as an intern for less than a year. Pros — good starting pay, unrivaled experience (2 years here is like 6 years anywhere else), and great benefits and PTO if you need to take a vacation. Cons — heavier workloads (you will balance several project at one time) and a lot of required travel (sometimes you will travel across the country and sometimes you will stay in your state, but you will be at a client company 90% of the time).

JPMorgan Chase

Field Title Compensation
Banking and Financial Services Holding Company Intern $4,042

Equity Research Intern: “I worked at JPMorgan Chase as an intern for less than a year. Pros — friendly and motivating people, challenging but fulfilling projects, and great training program (gives you all the training needed to do well on the job). Cons — the only downside I can think of is the long hours… but that is expected and the benefits greatly outweigh the extra hours spend in the office.”

Scottrade

Field Title Compensation
Privately Owned American Discount Retail Brokerage Firm Branch intern, Intern $1,864, $1,715

Intern: “I have been working at Scottrade as an intern for less than a year. Pros — state-of-the-art facilities and well-run departments. Great training and development site. Headquarters has a good and cheap cafeteria, a gym, dry cleaners, and a beautiful pond. Everything you need to succeed is available at any time. Many locations allow casual dress. Managers are very flexible. Software and employee resources are customized for your convenience. Cons — it has a very corporate feel, meetings and such are procedural and seem bureaucratic. Days start early — on the West Coast the stock market opens early so work starts at 6 AM. On the east coast work can still begin as early as 7, but the days are still only 8 hours.” 

*Other companies in the 20 highest-rated companies hiring interns include UBS Financial Services, Ernst & Young, Merrill Lynch, and Deloitte.

Glassdoor is not the only professional company that collected data. Vault, a provider of information and solutions for professionals and students who are pursuing and managing high-level careers, also came out with a study.

The organization surveyed thousands of former and current interns about their internship programs in banking and finance. The experiences are rated in five areas: quality of life, compensation and benefits, interview process, career development, and full-time employment prospects. Here are their statistics on the best specific finance internships to look out for in 2014.

Vault Ranking of Specific Internships to Look For in 2014

Company Field No. of Interns Compensation Duration
Evercore Partners Independent Investment Banking Advisory Firm 35-40 Paid 10 weeks
Northwestern Mutual US Financial Services Mutual Organization 3,400 $2,000 semester stipend, plus commissions that can reach $5,000/semester 14 weeks - one year
Houlihan Lokey Independent Advisory-Focused Global Investment Bank 51-100 Paid 6-12 weeks
PwC (Advance Internship Experience) Multinational Professional Services Firm More than 100 Paid 6-12 weeks
Capital One U.S.-Based Bank Holding Company 50-100 Paid 6-12 weeks
Deloitte Largest Professional Services Network in the World More than 100 Paid 6-12 weeks
KPMG One of the Largest Professional Services Companies in the World More than 100 Paid 6-12 weeks
Perella Weinberg Partners Independent Globally Owned Global Financial Services Firm 21-50 Paid 6-12 weeks
Liberty Mutual American Diversified Global Insurer More than 100 Paid 6-12 weeks

So, what do you think of the most lucrative financial internships to watch out for in the new year? Leave us your comments below!

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What to Expect From a Financial Internship

 

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