Introduction
Los Angeles, the entertainment capital of the world, is also a thriving hub for finance and business. With a bustling financial sector and major corporations headquartered in the city, it’s no wonder that finance internships in Los Angeles are highly sought after by ambitious students. This comprehensive guide will provide you with everything you need to know about securing a finance internship in Los Angeles, from the industries available to the application process and tips for success.
Thriving Industries for Finance Internships
Los Angeles offers a diverse range of industries for finance internships, including:
- Investment Banking: Los Angeles is home to many investment banking firms, including J.P. Morgan, Goldman Sachs, and Bank of America Merrill Lynch. Internships in this sector provide exposure to mergers and acquisitions, capital markets, and underwriting.
- Private Equity: The city has a growing private equity scene, with firms such as Carlyle Group, Blackstone, and KKR establishing offices in Los Angeles. Interns gain experience in private equity investing, due diligence, and portfolio management.
- Real Estate Finance: Los Angeles’ sprawling real estate market attracts firms such as CBRE, Cushman & Wakefield, and Jones Lang LaSalle. Interns in this industry work on real estate investment analysis, loan origination, and asset management.
- Commercial Banking: Wells Fargo, U.S. Bank, and City National Bank have significant operations in Los Angeles. Commercial banking internships offer hands-on experience in lending, credit analysis, and relationship management.
- FinTech: The city is emerging as a hub for financial technology (FinTech). Internships at companies like Stripe, Square, and PayPal provide insights into the latest innovations in banking, payments, and investment management.
The Application Process
The application process for finance internships in Los Angeles is highly competitive. To increase your chances of success, follow these steps:
- Research: Identify the companies you’re interested in and learn about their internship programs.
- Network: Attend industry events, connect with professionals on LinkedIn, and reach out to alumni for networking opportunities.
- Resume and Cover Letter: Tailor your resume and cover letter to each specific internship you apply for. Highlight your relevant skills, experiences, and why you’re a suitable candidate.
- Interviews: Prepare thoroughly for phone and in-person interviews by practicing common questions related to finance, accounting, and the company.
- Follow-Up: After submitting your application, follow up with the hiring manager to express your continued interest and inquire about the status of your application.
Tips for Success
- Apply Early: Los Angeles internship applications open as early as September. Don’t wait until the last minute to submit your application.
- Excel Academically: Maintain a strong GPA, especially in finance and accounting courses.
- Develop Skills: Gain practical experience through part-time jobs, research assistantships, or club involvement.
- Show Enthusiasm: Demonstrate your passion for finance by actively participating in finance-related clubs, attending industry events, and reading industry publications.
- Be Persistent: Don’t be discouraged if you don’t get your first choice internship. Keep applying and networking until you land one.
Common Mistakes to Avoid
- Lack of Preparation: Failure to prepare for the application process or interviews can cost you an opportunity.
- Overselling Experience: Don’t exaggerate your skills or experience on your resume or during interviews.
- Poor Communication: Ineffective communication, both verbal and written, can hinder your chances of success.
- Neglecting Follow-Up: Failing to follow up after submitting your application or interviews shows lack of interest and professionalism.
- Unprofessional Conduct: Inappropriate behavior or attire during the application process or interviews can leave a negative impression.
Conclusion
Securing a finance internship in Los Angeles is a challenging but rewarding experience. By following the tips and advice outlined in this guide, you can increase your chances of success and launch a promising career in the financial industry. Remember, persistence, preparation, and professionalism are key to achieving your goals.