On a day to day basis one has to research specific areas of a firm or industry, ready for a pitch. Further, one has to edit powerpoints and present the information researched in an appealing way to clients. Moreover, data collecting is a key part of the role, to lay the foundations necessary to build up a model for a specific firm. An independent intern project is also undertaken which forms part of the overall assessment.
The training week interns received before the internship laid the foundation of fundamental corporate finance knowledge which would be used throughout the summer, which ensured regardless of your degree everyone was on a level playing field. However, the learning curve was accelerated when starting on the desk. The ability to communicate effectively and manage ones time well was developed when tasked on multiple projects with competing deadlines. Also, attention to detail got sharper through the summer picking up on details which at the start would have been overlooked.
Yes, responsibility was given on group projects. For example, you would be set a task and given the right level of guidance to know what to do, but how you went about the task and how you managed your time along with the other tasks you had to complete was down to you. Further, on the internship project, the most responsibility was given - as this involved pitching a hypothetical deal to a senior banker, which you chose and had full autonomy on how you presented this and what was included.
A lot! Support and guidance were given in a self-learning environment through the training provider we had formal access to in the training week; access to this portal was available throughout the summer. The most support and guidance came from the team itself. Support and guidance took the form of team members sitting down with you and teaching you not only how to approach this particular task when you were unsure, but best practices that could be applied to similar tasks in the future. Everyone in my team was willing to support and guide me, even when they had their own deadlines which needed meeting.
Very welcoming and felt part of the team and the bank from day one. The company culture sparks innovation and collaboration, everyone is willing to work together and wins as a team. I felt like my contributions were valued and I was seen as an individual. The general atmosphere of the bank is one where everyone supports each other, everyone is willing to and constantly looking to learn and develop, and everyone works hard to deliver for the team and the bank's clients.
I immensely enjoyed my summer. Firstly, the summer confirmed that Corporate Finance is what I want to pursue a career in - as it showed me how deals are done, not just what the deal was which I had previously had exposure to through reading the FT etc. Further, the summer showed me my skillsets are best suited to investment banking and that I can have the greatest impact as an individual in this industry. Finally, it allowed me to interview the firm and confirm DB is the place for me.
If applying to DB, the key is to build up a range of experiences, whether formal experiences through other firms or through student societies at university. Doing this allows you to develop the skills needed to succeed in IBD at DB over time. For the cover letter and CV, these are the key things that will progress you to the next stage, along with having a passion for IBD and DB as a firm. For the interview, just be friendly and personable, as ultimately people hire people they can get along with - ensure that technicals are good at this stage as this is what has not been tested until this point. For the assessment centre, same advice applies as for the interview - just ensure can go to greater depth.
Internship (1-4 Months)
Central London and City