Investment Banking Summer Analyst Review

The virtual experience was really good in spite of the many difficulties organizing it! I was able to learn quite a bit, first from the week-long online training, then from on-the-job work, and everyone was very friendly. No commute was a definite positive! A couple negatives however: no access to inside information limited the projects and work I was able to gain experience with, the internship at five weeks (with only 4 on the desk) was quite short, and working remotely could be quite isolating - I could go a good day without speaking to my colleagues, and I was only able to speak to them with video a couple times.

I felt very welcomed and supported by both the company as a whole and the team I worked with, and trusted with the work I did; however, this was highly limited by the type of work I could do, since we could only work on projects that used public information. I wish I had been able to contribute more of use. So while I felt valued, I was slightly dissatisfied with myself and what I could do for the company.

The first week of training was quite good for building the basic skill set for banking. My team also did a really good job with welcoming us and taking us through what they do regularly, as well as the necessary skills for the desk. Even though all of them were clearly very busy, they made the time to train us on what we needed to know, and always encouraged us to ask any questions we had.

They will definitely assist me quite a bit! I learned so much, even with the reduced time frame and online format of the internship: from desk-specific topics and skills (credit ratings, specific valuation, corporate finance advisory) to general banking knowledge (financial modeling, FactSet, PowerPoint and Excel skills, valuation). I also gained a much greater awareness of the financial sector as a whole, building my familiarity with financial terms, and learning how different areas of the bank interact and support each other.

Fairly short, but pretty well-structured! The first week of training was really useful, and having daily training sessions for interns on various topics was nice for feeling a bit less disconnected from others. Working remotely was a bit weird in terms of hours - in an office, when everyone working on the same project as you is gone and you are done with your portion for the time being, you can head home, but remotely you never know when something is going to come up, whether early in the morning or late at night.

Everyone I worked with was really friendly! On the other hand, not being in person really limited how much I could talk to them, and the lack of inside information meant I sometimes had very little to do outside of structuring my own learning and practice. And I think it would have been nice if a few more intern get-togethers had been organized. One suggestion for online networking events, especially if there are more than one presenters, split off into breakout rooms in Zoom for a slightly more personal and welcoming experience.

Citi clearly put a lot of thought and effort into reorganizing the internship to be virtual, which was really appreciated; from the week of online training delivered by FitchLearning to the many presentations and daily case study trainings. My team also took time to train me on what I would need to do specifically on the desk. Senior bankers made time to meet and speak with us interns. Still, everything was a bit limited by the remote format and the small breadth of work that we could get real experience with.

While I definitely got a taste of the type of work I would be doing, and some idea of the hours I can expect, I know this was nowhere close to what it would be like. Working on things beyond what is publicly available information would be a lot busier and a lot more urgent than what I experienced. I also didn't have to contend with the London commute or the level of formality and professionalism expected in a banking environment; nor did I get to experience the ease with which I could ask questions in person, or just grab coffee and interact with my colleagues, or the focused environment of the office.

In spite of being virtual, it gave a pretty good idea of company culture. Everyone was very friendly and supportive. Webinars with highly senior bankers gave a good taste of what the company's goals and values are. Events such as the coffee and networking with Pride or the Women in Banking panel also showed the culture of inclusivity Citi promotes. Finally, rigorous compliance training and frequent reminders of it clearly displayed Citi's aim of responsibility and sustainability in its banking practices.

Mixed; I learned a lot, and confirmed that this would be something I would be really interested in pursuing - I liked how active and fast-paced the work was, and found learning about investment banking and the financial world as a whole fascinating. I also really appreciated Citi's company culture, and would really like to work with them. However, my main concerns about the sustainability of the investment banking lifestyle for me, due to the virtual format and shortened length of the internship, remained unanswered.

Citi organized a buddy / mentor system for interns, so I was assigned an associate buddy on a different desk of the firm, and a senior banking buddy based in a different location. Both were very supportive and helpful, and encouraged me to reach out if I had any questions. Beyond that, however, it was a bit difficult to know who and how to network remotely, since a lot more organization had to occur beyond just going to grab coffee with someone when they're not otherwise occupied.

There really weren't that many, due to the remote format; while there were some "networking" events scheduled, these were closer to webinars with a Q&A session at the end. I would have really liked the opportunity to get to know the other interns and the members of my team a bit better; unfortunately, Zoom calls were limited in number for compliance and data security reasons. And very understandably, no social events could really be scheduled at all.

Citi organized presentations by the Roots, Pride, Disability and Military networks over the course of the internship, which gave some idea of activities employees can get involved in outside of work. Additionally, emails about things Citi has accomplished as a firm during this crisis / in general exemplified its aims of social inclusivity and sustainability. However, I think this would likely have been more complete and detailed had this been in person, especially since we would actually be able to see their activities in practice.

Absolutely! I think this is the best I could hope for out of a virtual work experience. Citi reorganized the internship very well for such a short amount of time. In spite of the many challenges putting it in place, I learned a lot, felt like I understood the company and the role a lot better than I did before, and was really glad to meet all of my colleagues. And I imagine in-person would be an even more valuable work experience!