The Flourishing Finance Hub of Chicago Top Finance Companies Offering Internships in Chicago How to Secure a Finance Internship in Chicago Perks and Benefits of Finance Internships in Chicago Salary Expectations for Finance Interns in Chicago Time Commitment and Application Deadlines

Finance Internships Chicago: A Comprehensive Guide to Secure Your Dream Role

Chicago, a vibrant metropolis on the shores of Lake Michigan, is renowned as a global financial center. With a robust economy and a plethora of Fortune 500 companies headquartered in the city, Chicago offers an abundance of opportunities for finance internships.

According to the U.S. Bureau of Labor Statistics, the finance and insurance sector in Chicago employs over 220,000 individuals. The city’s thriving financial landscape provides interns with invaluable hands-on experience and exposure to the industry’s latest trends and practices.

Types of Finance Internships in Chicago

Investment Banking

Investment banking internships offer students the chance to work on mergers and acquisitions, capital markets, and other high-stakes financial transactions. Interns gain insights into financial modeling, valuation, and due diligence.

Equity Research

Equity research internships provide students with experience in analyzing and valuing companies for potential investments. Interns conduct industry research, build financial models, and generate investment recommendations.

Sales and Trading

Sales and trading internships allow students to learn about the fast-paced world of securities trading. Interns develop skills in order execution, risk management, and client relations.

Asset Management

Asset management internships offer students the opportunity to assist in managing investment portfolios for clients. Interns learn about portfolio construction, asset allocation, and risk management.

Corporate Finance

Corporate finance internships provide students with experience in financial planning and analysis for corporations. Interns assist in project evaluation, capital budgeting, and financial statement analysis.

• Bank of America: Over 2,000 finance interns hired annually
• Citigroup: 500+ finance internships available each year
• JPMorgan Chase: Chicago office hires over 350 finance interns
• Wells Fargo: Finance internships offered in various areas, including investment banking and commercial banking
• Goldman Sachs: Highly competitive internship program with a strong focus on investment banking

Build Your Resume and Network

• Join relevant finance clubs and organizations
• Volunteer with non-profits or community service organizations
• Attend career fairs and networking events
• Seek out mentors in the finance industry

Excel in Academics

• Maintain a high GPA in core finance courses
• Participate in finance-related competitions and case studies
• Consider pursuing a Master’s degree in Finance or a related field

Enhance Your Technical Skills

• Master financial modeling software, such as Excel and Bloomberg
• Develop strong analytical and problem-solving abilities
• Stay updated on current events and financial news

• Competitive compensation and benefits
• Mentorship and guidance from industry professionals
• Hands-on experience in real-world financial transactions
• Opportunity to build a network of contacts
• Exposure to the latest industry trends and practices

According to Glassdoor, the average annual salary for a finance intern in Chicago is approximately $40,000. Top-tier investment banking and financial firms offer higher salaries, ranging from $50,000 to $70,000 for interns.

Most finance internships in Chicago are full-time and typically last for 10-12 weeks during the summer months. Application deadlines vary by company, but most fall between September and December for Summer internships and April and May for Fall internships.

Additional Tips for Finance Interns in Chicago

• Embrace the opportunity: Make the most of your internship experience by being proactive and taking on new challenges.
• Build relationships: Establish strong relationships with your fellow interns, supervisors, and colleagues.
• Seek feedback: Regularly request feedback from your supervisors to improve your performance and demonstrate your commitment to growth.
• Leverage your experience: Use your internship experience to enhance your resume, prepare for future job applications, and make connections in the industry.

Common Mistakes to Avoid

• Not researching companies thoroughly before applying for internships
• Sending generic applications that lack personalization
• Failing to follow application instructions carefully
• Underestimating the importance of networking
• Accepting offers without considering all available options

Pros and Cons of Finance Internships in Chicago

Pros:

• Strong financial hub with numerous opportunities
• High-paying internships with competitive benefits
• Mentorship and guidance from experienced professionals
• Excellent networking opportunities

Cons:

• Competitive application process
• Long hours and demanding workload during internships
• Limited availability of internships in niche areas
• High cost of living in Chicago

Table: Top Finance Companies Offering Internships in Chicago

Table: Salary Expectations for Finance Interns in Chicago

Table: Time Commitment and Application Deadlines for Finance Internships in Chicago

Table: Pros and Cons of Finance Internships in Chicago

By following these tips and leveraging the resources available in Chicago’s vibrant finance community, you can increase your chances of securing a fulfilling and rewarding finance internship experience.