November 15, 2013 by Lainey
What was your role as an intern?
My role as an Investment Banking Summer Analyst is marked both by the typical and atypical. Some of the common investment banking tasks I complete on a daily basis include Excel modeling for company valuation, creating content for firm pitchbooks or marketing presentations, and a large amount of research: both on the company and industry level. Other tasks I do uncommon to those often completed by investment banking interns include my drafting and executing of a sublease for the new Navidar office in Minneapolis, I receive work from and interact with my managing directors daily, and I also sit in on conference calls with CEOs almost every week.
Tell us about your intern experience.
My internship experience has been invaluable to the development of my future career plans while as an undergraduate. Not only have I gained a significant amount of technical abilities from performing company valuation, I have also increased my abilities of communication with my superiors and an extreme attention to detail. In fact, on one work project, the Navidar Q2 Quarterly Research Reports, I edited and revised my work more than 20 times. As I mentioned previously, I am able to interact with my superiors on a daily basis. My direct superior, a Navidar Vice President, has already had a career in both private equity and investment banking. My managing directors all had storied careers at banks such as Goldman Sachs, Morgan Stanley, UBS, Bear Stearns, Piper Jaffray, and SG Cowen. My training for my position was very much on my own, and self-directed. I have learned a lot thus far from my co-worker, a Navidar Associate. Very quickly I learned how to orient myself around Microsoft Excel, PowerPoint, Word, and finance-specific tools such as S&P Capital IQ and ThomsonOne.
How did you go about getting your internship?
Getting my internship was different from the “typical” investment banking process and interviews. I first sent my resume and cover letter to the HR department of Navidar through the McCombs Job Board.
What classes do you think were the most valuable in getting your internship?
Classes that were helpful in receiving my internship were ACC 311 and ACC 312, BA 324, and LEB 323.
What advice would you give to others as they search for an internship?
Be aggressive in searching out internships, and always follow-up. One of the ways I got my internship was expressing my interest to Navidar’s human resources department, and asking how I may follow-up further. My interest was relayed to the managers of the firm which helped during the interview process.
Can you describe how your interview went?
I was invited to have a phone interview, then after advancing past this round, I was invited into the Austin office for an in-person interview with the Vice President, and two Managing Directors. Almost all of my questions were “fit” in nature, that is, how I would fit into the firm and its culture. I would later learn I was the only intern offered the position out of 60 applicants.
What were the hardest questions they asked in your interview?
As mentioned before, I did not have many technical questions, instead, almost all questions were fit in nature. My only technical-ish questions were exactly what I knew about the career field of investment banking. The most difficult question I received was related to diversity, because I am involved with a diversity organization. The question was “How can colleges in the United States increase their enrollment of minority groups?”