BlackRock
Internship Review - Analyst - Portfolio Management Group
Internship Details
- Job Title:
Analyst - Portfolio Management Group - Start Date:
2009 - Length:
Internship (1-4 Months) - Location:
London, Central London and City - Salary:
More than £24,000 - Roles:
Banking/Finance - Reviewer's Course:
Economics and Management - Reviewer's University:
Oxford, University of - Review Date:
January 2010
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Ratings & Comments
- Role Description
During two five-week placements, I was to gain the most possible exposure to the financial markets. As well as attending meetings, projects I was set included a detailed analysis and projection of the housebuilding industry, focussing on the UK and selected emerging markets. A considerable amount of time is also dedicated to a team-based portfolio management simulation, which runs across the ten-weeks.
- 1. To what extent did you enjoy your work placement or internship?
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Rated 9/10
The internship was certainly challenging, but being pushed was enjoyable. With only a small intake, the experience is far more personal and flexible than I have found at other companies - this does mean, however, there is a particular need for you to find your own opportunities, methods and means to impress while you are there.
- 2. To what extent did you feel valued by your colleagues?
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Rated 8/10
In asset management, experience is very important, so your opinions as an intern are somewhat constrained by your exposure being counted in days, rather than years. However, people are very encouraging for you to come up with your own ideas and will genuinely take them on board when they are well thought out - the research you do is real and could lead to substantial investments from your team if you get it right.
- 3. To what extent were you given support and guidance by management?
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Rated 9/10
To an extent you have to seek support if you want it - people will typically assume you're fine unless you ask. However, when you do, the support is excellent. Colleagues are generous with their time, even those in very senior positions, as well as those younger employees, for whom internships are fresher memories. You will find that a surprising number of BlackRock employees joined the firm having done an internship there, so are typically knowledgeable and sympathetic.
- 4. How busy were you on a daily basis?
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Rated 9/10
You're as busy as you want to be, really. Within equities portfolio management, you'll have big research/presentations to do, which you can put lots and lots of effort into....or not. Same goes for the Portfolio Challenge. At the same time, when you're not doing your own work, people are keen for you to get exposure to the markets and the full-time role, so there are always company meetings, analyst presentations and conference calls to keep you busy.
If you want to do things well, you'll be consistently busy while you're at work...not stressfully so, but enough to keep you stimulated. However, the culture is such that long hours are not going to impress....it's drummed into you that you probably shouldn't ever be in the office after 6pm (and no weekends).
- 5. How much responsibility were you given during your placement?
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Rated 9/10
Partly due to the nature of asset management, there isn't really much 'grunt work' to be done by analysts. Therefore, the work/research you do is real and needs to be thorough - you have the opportunity to truly influence multi-million pound investments, so, while mistakes are expected and tolerated, you have a responsibility to put your arguments forward as thoroughly as possible.
- 6. To what extent did/will the skills you developed, and training you received, assist you in your degree studies and beyond?
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Rated 7/10
I'll take the question as asking to what extent my internship experience helped me in my degree/life...
I had just finished my degree when I took this internship, so not really relevant personally. However, for others and 'life', your arguments will be challenged by some very clever and experienced people while you're on the placement, which is hardening. You're forced into forming arguments well and defending them, which is a useful skill. You'll also find yourself very much abreast of goings on in the markets and business at the time.
- 7. What was the general atmosphere in your office?
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Rated 8/10
The atmosphere is professional, but people enjoy their jobs and have a good time while they're there. Probably due to everyone keeping all their evenings and weekends, people are interesting in terms of what they get up to outside work.
- 8. How well organised was the overall work placement or internship set up?
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Rated 9/10
Considering the small intake of interns, considerable effort was put into the management of the placement. The firm really drums this into (and it seems genuine) in that BlackRock truly values the internship process and takes it seriously.
- 9. In terms of personal training and development, to what extent did the company invest in you?
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Rated 9/10
While not all interns will end up at the firm full-time, BlackRock treats you as if you'll be there forever. There's a lot of investment in you to get genuine exposure to the markets and the firm.
- 10. What were the perks on your work placement?
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- Subsidised Canteen
- Company Parties/Events
Rated 7/10
- 11. How appealing are future employment prospects within the organisation?
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Rated 10/10
Was lucky enough to get a job, joining in Portfolio Managament Group (Equities). It really seems like an excellent opportunity, which I'm grateful for. One thing to note, however, is that in asset management (probably BlackRock in particular, as well), careers are considered more long term than in other financial industries. By this, I mean that graduates are taken on not with a shelf-life of 1/2/3/4 years, but 10. Though you'll need to perform when you're there, of course, I like the more stable employment prospects.
- 12. Was there a good social scene amongst any fellow placement students/colleagues?
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Rated 7/10
The other interns were all really friendly, but with only 13 of us (I think) across all divisions, a difference experience to the classes of 100-200 you might find at some of the big investment banks etc. The social scene is there though, if you want it.
- 13. What was the cost of living and socialising in the area you worked in?
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Rated 5/10
Well, it's the City of London, so it's not going to be cheap. I commuted in from home (Essex) though, so slightly different for me.
- 14. What was the Nightlife like in the area you worked?
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Rated 7/10
You probably don't want to go out in the City itself, apart from drinks after work etc, but you're nearby Old Street, Shoreditch, Borough and Brick Lane areas which are fun. There's always the Leicester Square, Regent Street options too, if that's your thing.
- 15. Were there many opportunities to get involved in activities outside of work?
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Rated 8/10
Got invited to the BlackRock vs Deutsche Bank annual tennis match....unfortunately my tennis skills weren't quite up to it. The firm also took us interns to their box in Wembley Stadium to watch football, which was a great experience. We also had a day of charity work - Changing-Rooms-style painting and decorating.
- In addition to these questions, is there any extra information you would like to leave about your experiences on your work placement that other students may be interested in?
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Hopefully the above comments give you most of the information.
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