Response 11

Graduating Year: 2008
Major: Finance, Accounting & Economics

What company did you intern with?
Citigroup

Where were you located?
New York

What was your position?
Investment Banking Financial Analyst (Health Care Group)

What were your basic responsibilities?
As interns, we were responsible for the same work as first–year analysts. I primarily worked with PowerPoint and Excel. My responsibilities included creating and updating PowerPoint slides, creating and formatting Excel documents, researching companies through their financial statements and websites, and doing various other tasks to support my deal team.

How many hours did you work per week?
Varied from 60 to 110 hours per week. Average of about 80 hours. I worked most weekends in addition to the weekdays.

Describe a typical day of work.
Arrive at work at 9:30 AM. In the morning, I generally either finished up work from last night, or talked to my deal teams to see how I could help them, as far as researching companies or doing some work in Excel and PowerPoint. For lunch, we often had HR speakers with catered food or else we would go out to a nearby restaurant with other interns and analysts. The afternoons were generally busy, as the Associates and Vice–Presidents would get back to you with work from the previous night or begin new projects. We ordered free dinner from a list of participating restaurants, and we would take an hour in a conference room to relax while eating. After dinner, the deal team leaders would specify what needed to be completed for tomorrow morning, and that would be the assignment the rest of the evening. It was rare to leave the office before 11 PM, as 12 AM and 1 AM were more common. After finishing for the night, I would check in with team if any were still at work, and then take a car home.

What did you like best about your internship?
It was very cool to be in the middle of a large financial services firm. Everyone was very intelligent and many of the more experienced employees talked to the major CEOs on a weekly basis. It was really operating on the pulse of an entire industry, Health Care specifically for me. You work on deals, propose acquisition opportunities to firms, and have a major impact on what actually happens with these companies. My best experience was working on an IPO bakeoff (pitch to get the company's IPO business) for a synthetic laser company. I also had an opportunity to attend several road show presentations for another IPO, assisting with the presentations to major institutional investors. It was great to apply what I had learned in classes to real–world situations.

What did you like least about your internship?
One major adjustment is the uncertainty of when you are leaving work each day. You would have no idea what time you would be in the office or if you had to work on a Saturday/Sunday until the last minute, making plans outside of the office very difficult. The hours were also frustrating at times, but only if you were in the office not adding value. I was completely fine working late if I was actually working. The times when I was hanging around waiting for someone to get back to me with work were very frustrating.

What did you think of the company as a whole?
I was impressed by Citigroup. It is such a global firm with over 300,000 employees worldwide, and many of my fellow interns had opportunities to work with companies in China, Japan, and the Middle East. The people were very down–to–earth and sincerely cared about you. Even when busy, the analysts would take the time to help you out and explain various tasks and concepts. It is such a large firm that there is also an opportunity to transfer divisions (i.e. Sales and Trading, Private Banking) and still stay within the firm.

Can you offer any tips for interviewing with this particular company?
After speaking to my interviewers, I learned that the most important factors to keep in mind are to be prepared, be yourself, and not get rattled. The finance interviewers will often try to intimidate you to see how you react under pressure, and the trick is to not let it affect you. You just have to be relaxed and not freak out if you don't the perfect answer each time.

Considering your experience, would you recommend this internship to other students?
For those students who are considering investment banking but unsure if this is the right choice, I will always recommend doing the internship. It is an opportunity to experience investment banking for ten weeks, instead of having to sign full–time and committing for two years. It is an excellent chance to determine if the work and lifestyle are a good fit for your own style. Citigroup in particular provided a great experience, as they have a well–developed internship program with over 100 interns within investment banking.