8 Finance Internships for Freshmen in College (2022)

Advice for freshmen preparing for an internship in finance and the top roles currently accepting applications to give you a head start in your career path.

September 7, 2022

Investment banking and other finance jobs are getting more and more competitive. With that, the recruiting seasons may seem to be getting earlier each year. In order to gain a spot at a top-tier bank or fund, most students apply for internships starting their sophomore year in college for matriculation the following year. To get even more experience on a resume, ambitious students are now looking for internships starting their freshman year in college.

If you’re interested in a career in investment banking or something similar, check out our Career Hub for lots of free resources and guides. Here are a few articles to get you started:

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Advice for Freshmen in Finance

Because of the quantitative and technical demands of finance internships, most companies will not pay much attention to freshmen applicants. However, this time can be spent cultivating the required skills and experience to be a competitive applicant in the next few years. Here are six tips for freshmen who are hoping to eventually score an internship and career at a top-tier bank:

1. Fill in the gaps

Though you may not be actively recruiting for an IB internship, fill your resume with other experiences and accomplishments. For example, join finance clubs and position yourself for a leadership position. Take relevant courses and do well in them. Volunteer and pursue extracurricular activities that you enjoy. Get relevant work experience that will give you useful training and experiences to speak about in your personal story and in your “Why banking?” interview question.

2. Hustle during your sophomore year

Your sophomore year is when banks will actively be recruiting for junior internships. Make sure you are set up for success so when the time comes, you are polished and ready to nail your interviews. You should build your connections, gain valuable work + leadership experiences, practice your story, and know your technicals.

Getting a return offer after your junior internship will actively propel you as you begin your career in finance.

3. Build your quantitative skillset

Finance internships are heavily quantitative and students hoping to pursue a career in the industry will need to demonstrate mathematical abilities. By taking the right courses and practicing technical skills, you’ll be able to build a solid foundation. You don’t need to be a math major, but you do need to be good with numbers.

4. Know Excel

For anyone hoping to get into investment banking, Microsoft Excel is extremely important. Junior analysts and associates use Excel almost every day for return analyses, data mining, and more. Learning Excel while you’re a freshman means fewer late nights teaching yourself later on.

5. Read the news

To gain basic literacy in finance lingo, we recommend reading the news to understand how the markets are talked about. Newspapers like the Wall Street Journal are technical enough that you’ll be able to learn something, while basic enough to understand the gist. Many universities offer free subscriptions to these newspapers through the library, so check yours before paying for one.

6. Go local

If you’re set on completing some type of finance internship during your freshman year, ask around local banks, funds, or corporate offices to see if there are any positions available that haven’t been widely advertised. Usually, these places are less hesitant to hire freshmen and the jobs can be a good introduction to the world of finance. Also, having an experience already on your resume will make you that much more of a competitive applicant in the following years.

Best Summer Finance Internships for Freshmen (2022-2023)

With that being said, here are the top internships in finance for freshmen in college, so that you can give yourself a head start for a great career.

1. Transamerica

Role: Actuarial Internship (Summer 2023)

Qualifications:

  • Freshmen, Sophomores, and Juniors enrolled as full-time students
  • Majoring in Actuarial Science, Mathematics, or Statistics (ideally, not required)
  • Skilled in mathematics, analytics, and communication
  • Knowledge of MS Excel, R/Python (or similar), MS Access
  • Desire to work on a team and previous/current leadership experience

Salary: Unlisted

See the job post here.

2. McClatchy

Role: HBCU Internship Program

Qualifications:

  • Freshmen/Rising Sophomores interested in business, journalism, multimedia, marketing, HR, finance, IT, and more at an accredited Historically Black Colleges and Universities
  • Cumulative GPA of at least 3.0
  • Fits the three main criteria: (1) demonstrated interest in the media industry, (2) strong academic performance, and (3) volunteer/community involvement and/or extracurricular school activities

Salary: $15/hr.

See the job post here.

3. Podium

Role: Finance Intern

Qualifications:

  • Pursuing a BA/BS in Finance, Economics, or similar discipline
  • Able to work 24 hrs./week during the Winter/Spring semester
  • Experience with Excel
  • Demonstrated attention to detail, work ethic, and sense of urgency
  • Able to take initiative, work independently, and deliver results in a short timeline

Salary: Unlisted

See the job post here.

4. General Motors

Role: 2023 Summer Intern (Accounting)

Qualifications:

  • Pursuing a Bachelor’s degree in Finance, Business, Accounting, Economics, or a related field
  • Graduating between October 2023 and June 2024
  • Able to work 40 hrs./week during the summer
  • Demonstrated leadership in academics, extracurriculars, or service organizations
  • Knowledge of common financial tools (ROI, NPV, IRR, etc), Excel, and modeling/financial valuation
  • Able to work effectively on a team, problem solve, prioritize, multi-task, and fix data

Salary: $4,250/month (this is the median; wage is variable depending on class status and degree)

See the job post here.

5. American Express

Role: Campus Undergraduate National Bank Internship ( Summer 2023)

Qualifications:

  • Enrolled in a full-time Bachelor’s degree program with an expected graduation date between December 2023 and June 2024
  • Skilled in building relationships, taking initiative, thinking strategically as well as organization, product management, communication, and teamwork
  • Able to translate highly technical information into easily understandable terms

Salary: Unlisted

See the job post here.

6. Everest.Ltd

Role: Finance Development Intern

Qualifications:

  • Undergraduate student pursuing a Finance/BBA degree with an expected graduation date of 2023 or later
  • A minimum GPA of 3.0 (GPAs of 2.7 or higher will be considered)
  • Legally authorized to work in the United States

Salary: Unlisted

See the job post here.

7. Ohio National Financial Services

Role: Summer Internship

Qualifications:

  • Pursuing an undergraduate degree
  • Able to communicate effectively, achieve objectives and deliver results, make sound decisions, support the goals of the organization, and handle challenges with composure

Salary: $13/hr.

See the job post here.

8. Honeywell

Role: Future Finance Leaders Program (Summer 2023)

Qualifications:

  • Currently pursuing an undergraduate degree in Finance or Accounting at an accredited university/college
  • Expected to graduate between December 2023-May 2024 and start work full-time between January and July 2024
  • Minimum GPA of 3.0 (3.5 is preferred)
  • Skilled in Excel and Powerpoint, communication, and time management
  • Able to work in a challenging environment, take initiative, and multi-task

Salary: Unlisted

See the job post here.

Final Note

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