Retsek
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Hey, I'm only 16 but I really want to get my head around high finance, don't want to go into to it blind. I know getting an internship is really good and it can lead to you getting a job, but I don't understand quite how it gets you the job, and lots of people are using terms like Summer/Spring internships and people talk about doing it grad and 1st year 3rd year etc.
Can someone give me a quick rough guide on it all so I can start understanding it better? Thanks!
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YoFadda
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A spring week internship is done in the first year of university (or second year of a four-year course). It's one week long and unpaid, except for Goldman Sachs where they do a two-week paid one . If you do exceptionally well on a spring week internship, you get fast tracked to a later interview stage for a summer internship or directly get an offer for a summer internship.

Summer internships are done in the penultimate year of university. They are around ten weeks long and you get paid. If you do well on this internship you get an offer for a graduate job after you finish university.
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username738914
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(Original post by YoFadda)
A spring week internship is done in the first year of university. It's one week long and unpaid, except for Goldman Sachs where they do a two-week paid one . If you do exceptionally well on a spring week internship, you get fast tracked to a later interview stage for a summer internship.

Summer internships are done in the second year. They are around ten weeks long and you get paid. If you do well on this internship you get an offer for a graduate job
1. Some banks give out offers not interview fast tracks

2. *Penultimate year or in some cases after final year

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YoFadda
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(Original post by Princepieman)
1. Some banks give out offers not interview fast tracks

2. *Penultimate year or in some cases after final year

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Sorry about that, I'll change my answer
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Retsek
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(Original post by Princepieman)
1. Some banks give out offers not interview fast tracks

2. *Penultimate year or in some cases after final year

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(Original post by YoFadda)
A spring week internship is done in the first year of university (or second year of a four-year course). It's one week long and unpaid, except for Goldman Sachs where they do a two-week paid one . If you do exceptionally well on a spring week internship, you get fast tracked to a later interview stage for a summer internship or directly get an offer for a summer internship.

Summer internships are done in the penultimate year of university. They are around ten weeks long and you get paid. If you do well on this internship you get an offer for a graduate job after you finish university.
So do they also go to uni during the 10 weeks?
What happens if you don't get fast tracked?
How do you do "good" during your internship?
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YoFadda
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(Original post by Retsek)
So do they also go to uni during the 10 weeks?
What happens if you don't get fast tracked?
How do you do "good" during your internship?
No, it happens during the holidays.
If they don't get fast tracked from a spring week, then that's it. You have to apply again separately for the summer internship. However, if you failed to get fast tracked from the summer internship, you can apply again next year for summer internships or for the graduate scheme.
To do good, you just need to be social, outgoing, make friends with the guys you're working with, do everything you're told to do and do it properly, don't make mistakes, just be good.
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Retsek
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(Original post by YoFadda)
No, it happens during the holidays.
If they don't get fast tracked from a spring week, then that's it. You have to apply again separately for the summer internship. However, if you failed to get fast tracked from the summer internship, you can apply again next year for summer internships or for the graduate scheme.
To do good, you just need to be social, outgoing, make friends with the guys you're working with, do everything you're told to do and do it properly, don't make mistakes, just be good.
Okay, where do people look for these jobs?
Is there any banks which are bad, that people don't tend to want to do an internship?
What do you do during an internship?
Sorry I've got so many questions :C
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bankingHQ
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(Original post by Retsek)
Okay, where do people look for these jobs?
Is there any banks which are bad, that people don't tend to want to do an internship?
What do you do during an internship?
Sorry I've got so many questions :C
1. It is fine not to know where you want to be now. You are only 16. People get a better idea of what they want to do as they get exposure to the industry through insight days, spring weeks and summer internships.

2. It is an incredibly competitive industry. People will be happy with any offer they get. It's a numbers game, the more applications you send the better the chance of you getting something.

3. Gain an insight into the everyday workings of the division you have applied for.
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Retsek
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(Original post by bankingHQ)
1. It is fine not to know where you want to be now. You are only 16. People get a better idea of what they want to do as they get exposure to the industry through insight days, spring weeks and summer internships.

2. It is an incredibly competitive industry. People will be happy with any offer they get. It's a numbers game, the more applications you send the better the chance of you getting something.

3. Gain an insight into the everyday workings of the division you have applied for.
Thanks again you're a great help!
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