I was mainly working on the mathematical models that are used to generate economic scenarios so that the company can calculate things like asset allocation and capital ratios. My tasks as an intern involved everything from researching the new models in the mathematical literature, to adapting the maths to fit into the model framework, to finally implementing what I had found in the model and building toold that would effectively calibrate the models to fit with the market data.
The work was extremely interesting compared to other internships I've had in the past. The whole atmosphere throughout the company was very social and informal, and I was encouraged to socialise with the other interns and graduates, who were a genuinely fun and friendly group.
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The team were very friendly and helpful with the more technical aspects of the job, and I was made to feel involved right from the start.
I had regularly scheduled meetings with my supervisor where we discussed everything from how I was performing in the role to future career and qualification options. I felt like we had a lot in common and he would be a great guy to work for.
I think there was a good balance, so that there was always something for me to be getting on with but I didn't feel overwhelmed.
I could see how the work I was doing connected with that of the team as a whole, and consequently I felt like I was making a valuable contribution to the team rather than being given "intern tasks"
Since I graduated before starting my internship it obviously won't assist my degree studies, however I used a lot of the material I studied in my Maths and Statistics degree throughout the internship, and I feel like the work I've done this summer will greatly help me in my future career.
In my particular team the atmosphere was pretty quiet and studious. I think this was necessary as the team was trying to stay at the cutting edge of quantitative modelling, which is naturally a quite involved and academic discipline. I never felt like I couldn't approach anyone with questions, and it wasn't all work and no play!
I think given the fact that the internship shceme at M & G has only been running a few years, everything went very smoothly and there were plently of opportunities to get to know other interns and grads. There were after work drinks organised right at the start to get to meet as many people as possible, and the whole summer in general ran without a hitch.
I attended some of the internal training presentations, and all the interns were given a "fund management day", where we could get to know the industry better and learn about all of the aspects invloved.
I regularly met up with the other interns for lunch and after work for the occasional drink, and they were a very friendly bunch. I hope we all return to work together in the future!
Naturally being located in the city of London the prices are generally higher than in other areas of the UK, but I didn't find it too difficult to get by. The subsidised cafeteria served really good food and at very reasonable prices.
There are a lot of bars, pubs and clubs throughout London so whatever you like from your nightlife there are a plenty of places you will enjoy.
There were regular groups who went for after work sports, and within my team we met up a couple of times outside work to do activities or have a meal, which was excellent.