VAULT GUIDE TOTOP FInAncEInTERnSHIPS

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In THIS GUIDE:

• Company overviews and internship program descriptions

• Info on the qualifications and hiring process for each program

• Inside info on internship culture and training

• And much more!

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About Vault.com, Inc. Vault is the leading media company focused on careers. Vault delivers the most comprehensive online career resource at www.vault.com , which features thousands of company and university profiles, information on hundreds of occupations and industries, articles on a multitude of workplace topics, a network of message boards for professionals with over 2,200,000 posts and jobs-related video, blogs and research tools. Vault publishes more than 120 online and print books, from the best-selling Vault Guide to the Top 100 Law Firms to the Vault Guide to Schmoozing . The company’s clients include nearly 1,000 advertisers and recruiters, over 1,000 universities and graduate schools and over 7,000,000 consumers worldwide. Headquartered in New York, Vault was founded in 1996.

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Edited bythe Staff at Vault

®

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2011 EDITION2010 EDITIOn

VAULT GU

IDE TO TOP InTERn

SHIPS GET THE RUnDOwn On THE TOP InTERnSHIPS In FInAncE

AnD wHAT yOU nEED TO knOw bEFORE yOU APPLy.

Goldman Sachs is an equal opportunity employer. © The Goldman Sachs Group, Inc., 2011. All rights reserved.

A chance. An opportunity. A foot in the door. At Goldman Sachs, your first

job will give you more. You’ll gain access to unparalleled training programs.

Work alongside some of the smartest minds in the financial industry. And

gain hands-on experience that will serve you right now, and for years to come.

Learn how to make a lasting impression on your career at gs.com/careers

Lasting impression.First job.

Introduction

What is an internship?An internship is one of the best ways to test out a potential career or employer—a sort of trial run to see if a company or field suits you. Internships vary in length: they can last two weeks or a full year, though most tend to be around three months. Many take place over the summer, while others occur over the fall or spring semester, or a duration of your choosing. The majority of internships are full time, though plenty are part time.

Why do an internship?You might be tempted to opt for a job over an internship to earn money. There’s nothing wrong with that. But there’s more to learn, and gain, from doing an internship. For example, if you want to break into a field that’s tough to crack, like entertainment, advertising or politics, the very best way to get a full-time job in the field is through an internship. Not only will you learn the inner-workings of the industry and have great experience on your resume, but you’ll also meet plenty of contacts and potential mentors. Similarly, interning at a top company puts you on the fast track to getting a full-time offer from that firm—or one of its competitors!

If you’re reading this guide, you probably know that the job market is still grim. At the end of 2009, many economists predicted a jobless recovery, and that has generally proven to be the case. With a dearth of available jobs, the recession made the internship even more important to starting a career off right. Large companies are much more likely to hire you if you were an intern, not just someone off the street. Even if you don’t end up working for your internship employer, you’ll have gained some invaluable and hard-to-get experience. If you’re a recent or soon-to-be graduate, having some internship experience under your belt is crucial for your full-time job search.

Not surprisingly, interest in internships has reached unprecedented levels. In the most recent Vault survey of undergraduate career services, over 50 percent of all career centers told Vault that they’ve seen an increase in the number of students applying for internships. Due to budget cuts, new legislation on unpaid internships and other constraints, however, employers are ill-equipped to deal with the increase in applicants. Career centers have reported a decrease in the number of students who actually received an internship. More applicants and fewer positions mean that competition is steep, so students should visit their career centers early and often to review internship listings, get resume and cover letter advice and conduct mock interviews.

Who’s eligible for an internship?Internships aren’t just for students anymore. In Vault’s undergraduate internship recruitment survey, about 60 percent of undergraduate career centers reported an increase in the number of soon-to-be graduates accepting internships rather than full-time positions for after graduation. Internships are also a good way for professionals to transition to a different career path or to sneak into a competitive field.

Although it’s true that many programs require that interns be current students, many others accept (some exclusively) recent graduates and seasoned professionals. So, if your career isn’t getting off to as fast a start as you might like, or you are looking to change careers after a setback, take a look, you might be able to intern at a company that interests you—an ideal way to network your way into a full-time job.

But I need to get paid!Don’t think that doing an internship means giving up on pay all together. It’s true that many internships are unpaid or offer only academic credit. At the same time, these are often small, interesting organizations or companies in glamorous industries. But many other programs offer some kind of payment, from a stipend or travel allowance to a very generous salary or a scholarship for any remaining academic requirements. Others offer interesting perks, including travel and the chance to attend exclusive industry events.

But don’t give up on your dream internship if it’s unpaid, as there are other ways to get the financial support you need. Sometimes, organizations will make special arrangements for interns they particularly like even though the program is usually unpaid, such as housing assistance or a small stipend. Talk to the human resources department to learn about different options—and if they suggest a stipend at the end of the program, remember to work hard during the internship to earn it.

Colleges and universities also understand that taking an unpaid internship position may be impossible for some students. In our most recent survey, about half of career centers told Vault that they offer some kind of financial assistance for students taking low or unpaid positions, such as grants, fellowships, scholarships, financial aid or tuition reimbursement. In addition, even if you’re receiving academic credit from your school, you are still eligible for financial compensation, either from the employer or the school, itself. To learn about these opportunities, talk to your school’s career center—and remember, even if there isn’t a formal financial assistance program, it never hurts to ask!

Vault Guide to Top Finance Internships, 2011 Edition

Introduction

Tips for applying to internshipsLet’s say you’ve found an internship that interests you. The first thing you should do is follow all the instructions. Here’s a short checklist of things you need to do when applying for internships.

• Apply by the deadline. A few months before the deadline is even better—a small organization might just take the first qualified intern who applies.

• Follow the instructions! If you’re asked to provide a writing sample, don’t send your photo portfolio. If you’re asked to provide a reference, start canvassing your teachers and professors.

• Make sure your resume is up-to-date and thoroughly spell-checked. If you’ve never written a resume, go to your school’s career guidance center and ask for help. And ask an experienced professional or two whom you trust to review your resume. If you are applying for internships in different fields, you may need to have more than one version of your resume highlighting different experiences. Ensure that your most current contact information is on the resume.

• Don’t ignore the cover letter. Make a persuasive case in your cover letter, which should be tailored to each internship, that you really want to intern at the company. Do your research and be specific—and honest—about why the opportunity is right for you. Again, make sure you carefully proofread the cover letter. Let a trusted friend or teacher read it as well.

• Follow up. If you’re really interested in an internship, there’s nothing wrong with a quick call or email a few weeks after sending the application to let the organization know how interested you are. But don’t badger them with phone calls every day.

• Carpe diem. If you’re really want a particular internship, but your qualifications don’t match completely, apply anyway and show your passion. Many organizations would rather have an intern who is excited and motivated than one who just meets the qualifications on paper.

• Take experience over money. You can always earn money; however, the window of opportunity for internships isn’t open eternally. If you’re really broke and there aren’t any compensation options, consider taking a part-time job in order to work at the internship you really want.

Making the most of your internshipCongratulations! You’ve gotten the internship you want. Here are some tips to make the most of your experience.

• Be a happy camper. Even if you’re given work that you think is below you or not what you expected, do it and do it happily. A great attitude and a willingness to pitch in will impress your co-workers—and you might learn a lot more than you anticipated. Once you’ve proven your value, you may get projects and tasks more to your liking.

• Network, network, network. An internship is a great way to meet insiders in the industry of your choice. Don’t limit yourself to your immediate co-workers or supervisors. Introduce yourself to others at the organization. Ask them to spend some time talking with you about their jobs and careers. You’ll learn a lot about potential jobs and career paths, and potentially meet mentors, sponsors and friends who can help you in the future.

• Talk about your expectations for the internship with your contact or supervisor. This will help your internship employer know what you want to do and give you the sort of experience that you want from your internship.

• Don’t burn bridges. You will learn that in the working world everyone has something to offer. At your internship see everyone as a potential source of advice, contacts and career growth.

• Take full advantage of perks. If you’re given the opportunity to attend a lecture from the CEO or go to a conference, go. In addition, many programs organize social events for the intern class. Attend as many as you can; you’ll likely cross paths with your fellow interns again, and they may be in a position to help you or the other way around.

• Stay in touch. Make sure you get the contact information of everyone you’ve met at your internship and keep them posted on your career and educational progress.

A GuIde To ThIs GuIdeWondering how we’ve organized these internship entries? Well, read on. Here’s a handy guide to the information you need in your search for the perfect internship.

The BuzzA lighthearted look at first impressions of the employer and at what makes this particular internship different. It’s a great way to take a fast look at an internship and see if you’re interested in reading further.

Vault Guide to Top Finance Internships, 2011 Edition

Introduction

Vault Guide to Top Finance Internships, 2011 Edition

Introduction

If an internship program participated in the 2010 intern experience survey, we’ve included pull quotes from the intern responses in the Buzz section. It’s always best to hear about a program from the interns who survived it!

The statsIndustry(ies): The employer’s specialties. Some employers may be listed in multiple industries or concentrations.

Location(s): The office(s) where the company accepts interns, by city and state, and sometimes by country.

Number of interns: How many intern positions the company fills per time of year, if applicable. For example, some employers may accept 20 interns in the summer, but only five in the fall and two in the spring. If not applicable, internships are listed as number per year.

Pay: The salary an intern will earn, if any. Academic credit may be offered for unpaid internships, and indeed some internships require that you receive academic (or college) credit. This section also lists any perks included in the internship—which can be anything from free T-shirts to subsidized housing.

Length of internship: The typical length of an internship. Sometimes internship length will vary depending on time of year.

Intern function(s): What interns do on the job. Internship responsibilities can vary a lot between departments, and intern roles may not be intuitive from the company’s industry.

The scoopA brief look at the employer, including its history, organization, current activities and notable accomplishments.

On the Job

A description of the internship program, including the departments accepting interns, details of intern responsibilities and any special intern activities or projects.

Getting hiredApply by: Deadlines for applications, including links to online application forms, if available. This section also lists any special application requirements, such as essays or letters of reference.

Qualifications: Requirements for interns, including year of school (and if the internship is open to high school students, college graduates, grad students and/or international applicants) and required major and GPA, if applicable.

Contact: Contact information for internships can be found in this section. We list a specific name whenever possible, as well as direct phone numbers and email addresses. If the employer has an internship section on its website, the address will be listed here.

The intern experience survey

Vault asked companies to distribute an intern experience survey to their interns in order to see what the programs were like from the participant’s point of view. The surveys were conducted anonymously and asked interns a range of questions, from what skills they gained to why they chose that program and whether they would recommend the internship to a friend. We received about 450 responses from interns at these ten companies and organizations. Each of these responses gave us a glimpse of what interning at these companies and organizations is really like. Many of the quotes in the Buzz section of profiles in this guide were excerpted from these surveys. You can read the full responses online at Vault.com.

If your organization sponsors an internship that you’d like us to cover, or if you’ve had an internship and want to tell the world about it, send us an email at internships@vault.com.

Vault Top 10 Internships MethodologyWithin these pages are the internships that represent top career opportunities that give students a chance to shine and flex their professional muscles. Vault’s Top 10 Internships are the ones we considered best all around.

Our editors recognize that there are many different kinds of internship programs, and each has its own unique benefits. So apart from the top all-around internships, we also selected the top 10 internships in 5 distinct categories: Finance, Nonprofit, Most Creative, Most Unusual Experiences, and Best Perks. The Top 10 Finance internships are those that best help participants break into the finance industry; the Top 10 Nonprofit internships are the programs that most socially minded; the Top 10 Creative/Liberal Arts internships are the best arts-related programs; the Top 10 Most Unusual Experiences internships provide the most unique experiences; and the Top 10 Best Perks offer the best benefits beyond the usual salary (anything from free housing to helicopter rides!). Here’s how the Vault editors made their (difficult) selection.

Vault Guide to Top Finance Internships, 2011 Edition

Introduction

4

Pay and perksBecause so many internships are unpaid, compensation definitely makes a difference. That doesn’t just mean cash, though: positions that offer interns housing, transportation and access to exclusive events are a huge plus as well.

on the jobThe more engaging hands-on work and mentorship opportunities a program offers, the better. So when picking the Top 10 candidates, we choose positions that will enable interns to take their experience out into the postgraduate world by giving them a taste of full-time experience as well as networking opportunities.

Looking forwardInternships are meant to prepare students and recent grads for the future, whether by allowing them to try out different industries or narrow their focus to one. Job placement—the offer rate to interns for full-time jobs—was a factor. Also important: what we call “resume radiance,” a line on the resume that will impress future employers. A big name on your resume can propel you forward in any industry, from investment banking to art curation, and these lists run the gamut.

vault top 10

FInance InternshIpsVault Guide to Top Finance Internships, 2011 Edition

vault top 10 Internships MethodologyWithin these pages are the internships that represent top career opportunities that give students a chance to shine and flex their professional muscles. Vault’s Top 10 Internships are the ones we considered best all around.

Our editors recognize that there are many different kinds of internship programs, and each has its own unique benefits. So apart from the top all-around internships, we also selected the top 10 internships in 5 distinct categories: Finance, Nonprofit, Most Creative, Most Unusual Experiences, and Best Perks. The Top 10 Finance internships are those that best help participants break into the finance industry; the Top 10 Nonprofit internships are the programs that most socially minded; the Top 10 Creative/Liberal Arts internships are the best arts-related programs; the Top 10 Most Unusual Experiences internships provide the most unique experiences; and the Top 10 Best Perks offer the best benefits beyond the usual salary (anything from free housing to helicopter rides!). Here’s how the Vault editors made their (difficult) selection.

Pay and perks

Because so many internships are unpaid, compensation definitely makes a difference. That doesn’t just mean cash, though: positions that offer interns housing, transportation and access to exclusive events are a huge plus as well.

On the job

The more engaging hands-on work and mentorship opportunities a program offers, the better. So when picking the Top 10 candidates, we choose positions that will enable interns to take their experience out into the postgraduate world by giving them a taste of full-time experience as well as networking opportunities.

This year, we also took into account the responses of the intern experience survey. In it, interns rated their program, including training and orientation, networking opportunities, camaraderie within the intern class and access to upper management. Their responses gave us an inside look at what interning is really like.

Looking forward

Internships are meant to prepare students and recent grads for the future, whether by allowing them to try out different industries or narrow their focus to one. Job placement—the offer rate to interns for full-time jobs—was a factor. Also important: what we call “resume radiance,” a line on the resume that will impress future employers. A big name on your resume can propel you forward in any industry, from investment banking to curating, and these lists run the gamut.

Top 10 Finance inTernships • 2011

AT&T Financial Leadership Program

Blackstone Group

Credit Suisse

Deutsche Bank

Goldman Sachs

J.P. Morgan’s Investment Bank

Lazard

Morgan Stanley

Northwestern Mutual Financial Network

UBS Investment Bank

AT&T FINANCIAL LEADERSHIP PROGRAM

THE STATSIndustries: Broadcast and Cable, Science, Research, Technology, TelecomLocations: San Antonio, TX (HQ); Atlanta, GA; Dallas, TX; San Ramon, CA; Pleasanton, CA; Hoffman Estates, IL; Bedminster, NJ; Morristown, NJ; additional locations across the United StatesNumber of interns: Summer: 10Pay: PaidLength of internship: Summer: 12 weeksIntern functions: Accounting, Finance

THE SCOOPAT&T—one of the world’s leading telecommunications companies—traces its roots all the way back to the invention of the telephone by Alexander Graham Bell. Though best known for its publication of the Yellow Pages, its offerings include IP-based business communications services, high-speed internet access and voice services. AT&T employs more than 294,000 people and serves an estimated 78.2 million customers in the United States alone.

ON THE JOBInterns are assigned to one of AT&T’s finance areas and receive feedback from their management team while working toward established objectives. At the end of the internship, their performance is reviewed by their supervisors and those deemed suitable are asked to interview for full-time employment. About 50 percent are offered positions upon graduation.

GETTING HIREDApply by: January to March. Check with your school’s career services office to see if AT&T recruits on your campus. Applicants may also apply online at www.att.jobs/campusconnect.com.

Qualifications: Open to first-year MBA students with a cumulative GPA of at least 3.5. Applicants should have more than three years of work experience and be majoring in finance, accounting, economics or business administration. Non-U.S. citizens are eligible.

Contact: www.att.jobs/campusconnect

SURVEY SAYS

introduction to the work that is done in both the telecom industry and

THE BUZZ

Vault Guide to Top Finance Internships, 2011 Edition

Internship Profiles: AT&T Financial Leadership Program

THE BLACKSTONE GROUP

THE STATSIndustry: Financial ServicesLocations: New York, NY (HQ); Boston, MA; Atlanta, GA; Houston, TX; Dallas, TX; Los Angeles, CA; Menlo Park, CA; San Francisco, CA; Chicago, IL; London; Hong Kong; Tokyo; MumbaiNumber of interns: Varies depending on market performance and firm’s expected growthPay: Paid, competitive salaryLength of internship: Summer: 10 weeksIntern function: Finance

THE SCOOPFounded in 1985 with $400,000 in seed capital, The Blackstone Group is a leading global alternative asset manager and provider of financial advisory services. Its businesses include the management of private equity funds, real estate opportunity funds, hedge funds, funds of funds, debt funds, collateralized loan obligation vehicles and closed end mutual funds. The Blackstone Group also provides various financial advisory services that include mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services.

ON THE JOBBecause Blackstone has a relatively small number of professional staff members, interns take on many of the responsibilities that full-time analysts and associates assume. The small number of employees affords interns the opportunity to participate in many aspects of projects, often working on a number of assignments at one time.

GETTING HIREDApply by: Check online to find Blackstone’s recruiting schedule. If Blackstone does not visit your school, send in an application, resume and cover letter online by late November.

Qualifications: Summer analyst: open to rising college seniors. Summer associate: open to rising second-year MBA students. Blackstone seeks to hire individuals who are highly motivated, intelligent, and have demonstrated excellence in prior endeavors. In addition, strong analytical, quantitative and communication skills, a demonstrated ability to write effectively and a desire to work in a team environment, often under pressure, are required. Prior investment banking experience and a basic knowledge of accounting and finance is desirable.

Contact: www.blackstone.com

THE BUZZ

Vault Guide to Top Finance Internships, 2011 Edition

Internship Profiles: The Blackstone Group

CREDIT SUISSE GROUP

THE STATSIndustry: Financial ServicesLocations: Zurich (HQ); New York, NY; London; Tokyo; Hong Kong; numerous other branches throughout North America and across the worldNumber of interns: VariesPay: Paid, competitive salaryLength of internship: Summer: 10 to 14 weeksIntern function: Finance

THE SCOOPFounded in Zurich in 1856, the Credit Suisse Group contains the three divisions of Credit Suisse: private banking, investment banking and asset management. The Credit Suisse private banking division provides private banking services to high-net-worth individuals through wealth management products and services. The Credit Suisse investment banking division is a leading global investment bank serving institutional, corporate and government clients. The Credit Suisse asset management division is a leading global asset manager focusing on institutional, mutual fund and private client investors, providing investment products and portfolio advice in the Americas, Asia Pacific and Europe. Despite a rocky beginning in 2008, Credit Suisse has been able to weather the economic storm, thanks to its healthy cash reserves that protect it from any long-term damage from the market’s vacillations.

ON THE JOBCredit Suisse investment banking offers a variety of summer associate positions for MBA and PhD students, and summer analyst positions for undergraduates. The summer programs are intended to attract top talent and ultimately for participants to join the firm full time. There is a wide variety of specialties available to summer analysts and associates. See the company website for details about individual programs.

GETTING HIREDApply by: Credit Suisse accepts applications online from September to February. Undergraduate and graduate students should check with their on-campus career services center for information about Credit Suisse campus visits and the application process.

Qualifications: Ideal applicants are highly motivated and creative individuals who have demonstrated academic achievement, specifically in finance and accounting. Check the website for details, as qualifications vary by position.

Contact:www.credit-suisse.com/careers/campus_recruiting/en

SURVEY SAYS 84% of Credit Suisse interns said they chose the internship program because of its prestige.

“The application process was fair and thorough.” “This internship has confirmed that banking is the career for me.” “I prepared presentations, marketing materials and memoranda for board meetings, investor presentations and internal committees.”

“The opportunities are endless as long as you show that you are capable.”

THE BUZZ

Vault Guide to Top Finance Internships, 2011 Edition

Internship Profiles: Credit Suisse Group

DEUTSCHE BANK

THE STATSIndustry: Financial ServicesLocations: Frankfurt (HQ); London; New York, NY; Hong Kong; various locations worldwideNumber of interns: VariesPay: Paid, competitive salaryLength of internship: Eight to 10 weeksIntern functions: Asset Management, Global Banking, Global Markets, Group Technology and Operations, Human Resources, Private Wealth Management, Legal, Risk and Capital, Finance

THE SCOOPFounded in Germany in 1870, Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. Deutsche Bank offers financial services throughout the world, employing over 77,000 people all around the world.

ON THE JOBDeutsche Bank offers analyst and associate internship positions in a variety of divisions. Analyst interns can work in finance, asset management, private wealth management, global banking, global markets, human resources, operations, legal, risk and capital (which encapsulates legal, risk management, compliance and treasury), group technology and operations. Associate interns work in asset management, global banking or global markets.

GETTING HIREDApply by: Applications are generally accepted November through February until the programs are filled. Interviews take place from January to March. All applications are available online and candidates are asked to review the various opportunities prior to applying, as each candidate is allowed to submit only one application.

Qualifications: Internship positions are available for rising college seniors and MBA students who have completed their first year. Non-U.S. citizens are eligible. Please visit www.db.com/careers for more information on global graduate opportunities.

Contact: www.db.com/careers

SURVEY SAYS “I performed regression analysis on various securities in order to determine proper hedging tactics, created charts, graphs and models displaying various statistical data and analyzed and forecasted future trends.”

“I had to manage my time and hold myself accountable in order to efficiently and effectively complete assignments.”

“This experience left no doubt in my mind that working on Wall Street is what I want to do.”

THE BUZZ

Vault Guide to Top Finance Internships, 2011 Edition

Internship Profiles: Deutsche Bank.

GOLDMAN, SACHS & CO.

THE STATSIndustries: Financial Services, Investment Banking, Investment ManagementLocations: New York, NY; Atlanta, GA; Boston, MA; Chicago, IL; Dallas, TX; Houston, TX; Jersey City, NJ; Los Angeles, CA; Miami, FL; Salt Lake City, UT; San Francisco, CA; Seattle, WA; London; Hong Kong; Tokyo; Bangalore; Beijing; Singapore; Seoul; Taipei; Shanghai; Moscow; Mumbai; Sao Paulo; Frankfurt; Calgary; Toronto.Number of interns: Varies, about 1,500 globallyPay: Paid, competitive salary; access to gym, day off to volunteer with nonprofit organizationsLength of internship: Summer:10 to 12 weeksIntern functions: Accounting, Finance, Human Resources, Law, Operations, Research, Sales

THE SCOOPFounded in 1869, Goldman, Sachs & Co. is a bank holding company and global investment banking, securities and investment management firm. The company provides a variety of services to a diversified client base, which includes corporations, institutional investors, governments, nonprofit organizations and individuals.

Goldman Sachs employs approximately 32,500 people in 20 countries, including offices in New York, London, Frankfurt, Tokyo and Hong Kong. In the midst of the escalating financial crisis in 2008, Goldman Sachs transitioned from an investment bank to a bank holding company. Goldman Sachs has been named one of Fortune magazine’s “100 Best Companies to Work For” every year since 1984. Goldman Sachs continues to fare better than its competitors posting $45.2 billion in net revenue for 2009.

ON THE JOBGoldman, Sachs & Co. interns do much of the same work as entry-level employees, from investment banking to investment management, sales and trading to research and financial analysis. The firm also provides scholarships and MBA fellowships to students from traditionally underrepresented groups in Europe and the Americas. Goldman Sachs aims to convert a large portion of interns to full-time employees after graduation.

GETTING HIREDApply by: Goldman, Sachs & Co. recruits on campus at select universities, so check with your school’s career center. If Goldman Sachs does not visit your campus, apply online by January. Online applications will only be accepted if the firm does not recruit at your school. The company interviews potential interns in the late winter/early spring. Visit the Goldman Sachs career website for application deadlines for different locations. Students must submit their resume, education history, exam results, work experience and other related information, as well as a personal statement about motivations for applying to Goldman Sachs.

Qualifications: Open to college juniors and first-year MBA students. Select regions offer internships to college sophomores. All majors are encouraged to apply, but students should show a keen interest in financial services and maintain a strong GPA. Throughout the interviewing process, Goldman, Sachs & Co. looks for individuals who can balance competition and teamwork, intensity and integrity, intellectual curiosity and leadership potential.

Contact: www.gs.com/careers

SURVEY SAYS The two most popular reasons for taking an internship at Goldman Sachs were prestige and career advancement in one’s chosen industry.

Interns ranked “access to upper management and other experienced professionals” a whopping 9.6 out of 10.

“I did real work, like an analyst.” “Several projects were client-requested, which made my job extremely interesting. It made the processing very rewarding knowing that I was providing direct value to the client.”

“I am very excited to return. I found the work very interesting and the firm did a great job of facilitating my professional development.”

Vault Guide to Top Finance Internships, 2011 Edition

Internship Profiles: Goldman, Sachs & Co.

THE BUZZ

J.P. MORGAN’S INVESTMENT BANK

THE STATSIndustry: Investment BankingLocations: New York, NY (HQ); more than 60 countries worldwideNumber of interns: Summer: approx. 350 (undergrad, MBA and PhD)Pay: Paid, competitive salary and incentive bonus; corporate discounts, discounts on gym memberships and cultural institutions, overtime meals, car service, BlackBerrys for the summer, housing stipend, round-trip travel to internship locationLength of internship: Summer: nine to 10 weeksIntern functions: Investment Banking, Research, IB Risk, Sales and Trading

THE SCOOPJ.P. Morgan is one of the world’s leading investment banks. Founded in 1799, J.P. Morgan offers its clients a range of financial services, including strategic advice, capital raising, restructuring, risk management and research. In 2008, the firm acquired Bear Stearns & Co. for $236 million and acted as lead left bookrunner on Visa’s $19.7 billion IPO, making it the largest IPO ever completed in the United States and the second-largest worldwide. In 2009, J.P. Morgan advised on several of the largest M&A deals in the world and reported a net income of $1.9 billion in the third quarter alone.

ON THE JOBInterns go through three to five days of orientation and formal training. During the program, they receive on-the-job training and gain experience by working on similar projects as full-time analysts and associates. Interns are assigned both a junior and senior mentor to guide them throughout the internship. The program also provides networking opportunities with senior management through social events and other functions. A majority of interns are hired as full-time analysts and associates. J.P. Morgan also offers scholarships and hosts special events, such as the Launching Leaders Scholarship and the Winning Women and Proud to Be events.

GETTING HIREDApply by: Deadlines vary by school. Visit your school’s career center to see if J.P. Morgan recruits on your campus. If the firm does not visit your school, apply online from December 15th to January 15th. An interview is required.

Qualifications: Candidates from all majors are welcome to apply. Rising college sophomores, juniors and seniors are hired for the summer analyst program. First-year MBAs and PhDs are hired for the summer associate program.

Contact: jpmorgan.com/careers

THE BUZZ

Vault Guide to Top Finance Internships, 2011 Edition

Internship Profiles: J.P. Morgan’s Investment Bank

LAZARD

THE STATSIndustries: Financial Services, Investment BankingLocations: New York, NY; Boston, MA; Washington, DC; Chicago, IL; Houston, TX; Los Angeles, CA; San Francisco, CANumber of interns: Summer: 30 to 35Pay: Paid, $1,500 a week; relocation stipendLength of internship: Summer analysts: eight to 10 weeks; Summer associates: 10 to 12 weeksIntern function: Finance

THE SCOOPFounded in New Orleans in 1848, Lazard now operates with principal offices in New York, Paris and London and 39 branches in North America, Europe, Asia, Australia, Central America and South America. The firm provides financial services to corporations, partnerships, institutions, governments and high-net-worth individuals around the world. The firm focuses principally on two business segments: financial advisory (which includes its mergers and acquisitions and financial restructuring practices) and asset management.

ON THE JOBSummer analysts participate in an ongoing training program comprised of classes taught by senior Lazard bankers. Day-to-day activities for summer associates vary according to each associate’s prior experience and skills, but are equivalent to those of a full-time associate. In addition to client-related assignments, summer associates are encouraged to explore the firm and become acquainted with their colleagues via both formal and informal mentoring. The firm considers its summer analysts and associates the primary source for full-time candidates, typically offering positions to about 80 percent of the class.

GETTING HIREDApply by: Summer analysts: early January. Summer associates: December. A cover letter is required.

Qualifications: Summer analyst: open to rising college seniors with an interest in finance; Summer associate: open to current MBA students, though applicants entering their final years of a JD or JD/MBA degree are also considered. Applicants must have strong quantitative experience and solid oral and written communication skills. Though not required, previous investment banking experience is a benefit. Non-U.S. citizens are eligible.

Contact: Anna WoodwardLazard Ltd30 Rockefeller PlazaNew York, NY 10020Email: analystrecruiting@lazard.com or associaterecruiting@lazard.com

THE BUZZ

Vault Guide to Top Finance Internships, 2011 Edition

Internship Profiles: Lazard

MORGAN STANLEY

THE STATSIndustry: Financial ServicesLocations: New York, NY (HQ); over 600 offices worldwideNumber of interns: VariesPay: Paid, competitive salaryLength of internship: Summer: 10 weeks; Co-op program (IT): three or four monthsIntern functions: Finance, Human Resources, Real Estate, Research, Technology

THE SCOOPSince a merger in 1997, Morgan Stanley has combined the capital of two American financial firms: Dean Witter (the San Francisco firm founded in 1924) and Morgan Stanley (established in New York in 1935). The company provides numerous investment portfolio opportunities to individual clients, including stocks, bonds, mutual funds, annuities, insurance, managed futures, UITs, and credit and lending services. In response to the mounting financial crisis in 2008, Morgan Stanley changed its status from an investment bank to a bank holding company.

ON THE JOBMorgan Stanley offers 10-week summer internships to both undergraduate and graduate students. Analyst and associate positions are available in a variety of fields, including finance, corporate treasury, financial control group, strategy and execution, global capital markets, human resources, investment banking, real estate, investment management, asset management, merchant banking, infrastructure, private equity, operations, risk management, sales and trading, technology and wealth management. The investment banking sector also offers the sophomore rotational program (SRP), which provides rising college juniors with a first-year analyst “buddy” to guide them as they rotate every two or three weeks to a different aspect of the investment banking business. SRP analysts who demonstrate the ability to succeed in I-banking will be offered a position as an analyst for after their junior year.

GETTING HIREDApply by: Apply online. Check with your school’s career center to see if Morgan Stanley recruits on your campus.

Qualifications: Summer analyst: open to rising college seniors; SRP program: open to rising college juniors; Summer associate: open to MBA students. Morgan Stanley looks for applicants from all majors who have a strong interest in business or finance. See the website for various requirements for specific departments.

Contact:www.morganstanley.com/about/careers/recruiting/apply.html

THE BUZZ

Vault Guide to Top Finance Internships, 2011 Edition

Internship Profiles: Morgan Stanley

NORTHWESTERN MUTUAL FINANCIAL NETWORK

THE STATSIndustries: Financial Services, InsuranceLocations: NationwideNumber of interns: Annual: 1,000 to 1,500Pay: Commission; additional stipends and incentives availableLength of internship: One semester through college graduationIntern functions: Finance, Sales

THE SCOOPNorthwestern Mutual Financial Network provides personalized financial services and offers inventive solutions for individuals’ insurance and financial needs. Its success relies on the capacity of its sales force to build relationships with clients independently. The internship program began in 1967 to provide students with an opportunity to work as independent financial representatives while still in school.

ON THE JOBInterns’ main objectives are to identify target markets, pursue and attain clients, and maintain client relationships. Interns receive substantive training, during which they become familiarized with Northwestern Mutual’s products, sales methods, policies and procedures. All interns must prepare for and pass a state licensing exam. Interns work with a mentor initially, until they are capable and confident enough to work independently. At that point, they are able to contact clients directly—something no other finance internship program can offer! About 33 percent of interns are offered full-time positions upon graduation.

GETTING HIREDApply by: Rolling. Apply online or contact a recruiter for details.

Qualifications: Open to current college students.

Contact: The Northwestern Mutual Life Insurance Company720 East Wisconsin AvenueMilwaukee, WI 53202-4797Phone: (414) 271-1444Email: resume@northwesternmutual.comwww.nmfn.com

THE BUZZ

Vault Guide to Top Finance Internships, 2011 Edition

Internship Profiles: Northwestern Mutual Financial Network

UBS INVESTMENT BANK

THE STATSIndustries: Financial Services, Investment Banking, Investment Management, Asset ManagementLocations: Stamford, CT (U.S. HQ); Chicago, IL; Houston, TX; Los Angeles, CA; New York, NY; San Francisco, CA; Jersey City, NJ; Boston, MANumber of interns: Annual: about 270Pay: Paid, varies with experienceLength of internship: Summer: 10 weeks; Spring: 10 weeks (operations only)Intern functions: Finance, Human Resources, Law, Management, Sales, Technology

THE SCOOPTracing its roots back as far as 1747, UBS is a leading financial firm and one of the world’s largest managers of private wealth assets. UBS provides a range of services to institutional investors, intermediaries, banks, insurance companies, corporations, sovereign governments, supranational organizations and private investors. Things did not look good for UBS in early 2008, when the firm reported write downs in the billions of dollars. In October 2008, the Swiss government gave UBS $5.35 billion in capital, taking a 9 percent stake in the bank. Things started looking up in 2009, when the Swiss government sold their stake in the company at a large profit. The 2010 fiscal reports continue to be encouraging as UBS strengthens.

ON THE JOBUBS Investment Bank offers positions to undergrad and MBA students in multiple U.S. offices. Positions are available in compliance, equities (sales and trading and research), finance, fixed income (sales and trading and debt capital markets), IT, investment banking, legal, wealth management, operations and risk. Interns are assigned dedicated mentors who guides and supports them over the course of the summer. Throughout summer, each business group incorporates business-specific training, development opportunities, networking and social events into its program. Historically, about 75 percent of the intern class get offered full-time positions upon graduation.

GETTING HIRED Apply by: Varies. Apply through your school’s career center. If UBS does not recruit at your school, apply online. Check the website below for specific deadlines and application requirements.

Qualifications: Open to rising college seniors and MBA students who have completed their first year. A major in engineering, the physical sciences, finance, computer science, math or economics is preferred. Applicants should be able to demonstrate outstanding academic and extracurricular achievement, possess strong analytical, quantitative and interpersonal skills, and be enthusiastic about and committed to working in the financial services industry.

Contact:www.ubs.com/graduates

SURVEY SAYS 88% of respondents said their internship at UBS was either very helpful or instrumental for their future career.

72% of interns received a full-time offer from UBS in 2010 “I was treated like a full time associate and assigned responsibilities accordingly.”

“Now I know that I am on the right career path and this is an industry in which I can enjoy what I do, challenge myself and grow professionally.”

“The internship was extremely stimulating because the people at UBS are concerned about your growth.”

THE BUZZ

Vault Guide to Top Finance Internships, 2011 Edition

Internship Profiles: UBS Investment Bank