Competition that as it is in the banking industry, students should regard and pursue internships as highly and significantly as one might their first employment position, both in preparation and effort to obtain the internship and in the following execution of one’s internship duties. Failure to do either could have dire consequences on one’s career potential.

Competition for employee advancement is just as fierce in the industry as initial job attainment. While training programs are provided, employers do not wait until after all new hires have completed their training to begin assessing their value and potential. Expect competition for your next move up to begin on your very first day at the firm… and be prepared to put your best effort forward to “wow” them with performance.

This holds true for interns as well. Your evaluation and future will begin on your first day and students would be wise to reflect upon that. While your school has a nurturing and supportive culture interested in helping you develop professionally and personally, your internship is, for all intensive purposes, your first firm position. While the firm knows you must be “shown” the job, the added degree of nurture and openness to follow up explanation that the student is accustomed to may be absent.

Do as much as possible prior to your first day to prepare for your internship requirements. Know the types of duties that will be expected and understand the types of skills that may be required. This will allow for preparatory effort on your part to help you hit the ground running when your internship starts. For example, if you know you will be working extensively in analysis with Excel and/or generating presentations in PowerPoint, study up on pivot tables and sensitivity analysis in Excel or consider attending a workshop in PowerPoint.

In school, you are told when something must be learned… but in the business world, the best time to learn something is always before it is needed. Stay mindful of these factors and you help position yourself for a more promising career start and future.

By Neil R. Palmquist CM&AA, CEPA
October 8, 2008