Finance Internships: It does not matter what career you choose to follow in your life money is a humungous part of it. For some money is a necessity for some it’s a purpose. Money is in most cases the end product of whatever job you choose to do. Finance is in itself the job of dealing with money. Finance is a broad term used to describe various activities associated with banking, leverage or debt, credit, capital markets, and investments. The most important concept of finance is something you have heard everyone speak, ‘Time is Money’, although very repetitive in the finance industry the quote holds priority in every finance-related situation.
The three main subcategories in which finance field can be divided are-
- Personal
- Corporate
- Public
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List of Most Demanding Finance Internships 2022
The most sought-after careers in Finance industry are –
- Risk Management
- Commercial Banking
- Investment Banking
- Corporate Financing
Risk Management: Finance Internships #1
Eligibility: To be properly in the business of risk managing one must have a finance background, students who have completed or are pursuing commerce-related streams are preferred, one must also have a few key skills which are useful in this line, like being analytical, having good communication skills, being proficient in maths, etc.
Job Details: As a risk manager, you are in charge of coming up with financial, safety and security risks for a company or organization, you also have to find ways to reduce those risks through decisive planning and problem-solving. Risk managers are also in charge of research tasks such as risk assessment for current company affairs or risk evaluation, which evaluates the company’s handling of risks in the past. Risk managers must also be able to present their findings and research to their clients in a way that’s compatible and comfortable for the company administration to understand and implement.
Commercial Banking: Finance Internships #2
Eligibility: A commercial background is preferred, students with or pursing a commerce-related degree are preferred over others, Commercial bankers should be good at developing interpersonal relationships with customers as it is the most essential part of the job. They also should have good problem-solving skills.
Job Details: Commercial banking internship can be divided into two parts small banks and larger banks. In smaller banks commercial bankers may manage a variety of responsibilities, such as extending loans to clients, offering financial services products to clients or managing cash balances. In larger banks although, commercial bankers tend to be more specialized, working in one specific area.
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Investment Banking: Finance Internships #3
Eligibility: A commercial background is preferred, students with or pursing a commerce-related degree are preferred over others, investment banking is a very competitive field, tenacity is the important skill required in this business. Having good persuasion skills helps largely too.
Job Details: If you have seen ‘The Wolf of Wall Street’ movie then you know what an investment banker does but still, for information. An investment bankers job description can include a wide range of duties. Investment bankers to help their clients raise money in capital markets by issuing debt or selling equity in the companies. Other job duties may include assisting clients with mergers and acquisitions (M&As) and advising them on unique and persuasive investment opportunities such as derivatives.
Corporate Financing: Finance Internships #4
Eligibility: A commercial background is preferred, students with or pursing a commerce-related degree are preferred over others, one must have good analytical skills, should be attentive, should have the ability to multitask, should have good oral and written communication skills.
Job Details: Corporate financers have to evaluate a company’s current financial status, as well as forecast what that company’s finances will look like in the future. They have to give senior management regular financial and operations reports and assist with budgeting, planning and financial reporting at the departmental and individual project levels. Corporate financers also have to explore and analyse potential investments for their companies and present their findings to corporate executives.
Stipend Concerned
One can get anywhere around Rs.5,000 to Rs.10,000 per month. It is important to note that the different types of Finance related internships don’t bring the change in the stipend provided by them, but rather it is the company at which you choose to work, the bigger and renowned the company is, the bigger the stipend provided by them is.
Finance Internships: Frequently Asked Questions (FAQs)
- Can a student outside the commerce department apply for a finance internships?
Yes. But the selection of such a student is very rare, but at the end of the day it is the knowledge which is demanded, if you have the required knowledge in the given field then you can get selected.
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- Can finance internships be done from home?
Yes and no. Some finance internships can be driven from home, but for some the physical communication is essential.
- Are finance internships difficult?
To be successful in finance you require tenacity, concentration, and an intuitive mind. The difficulty is a parameter that we set ourselves, if you are determined then it would not be difficult for you.