My internship at Deutsche Bank has flown by! At of the time of this article, I only have 3 weeks left before I head back to the world of student life. Here are some of the insights I have gained during my brief stint working in investment banking.
What are you doing at an investment bank?
My typical schedule:
9:00 am Get in and catch up on emails
9:30 am Work on debt analysis of a firm that might come to market
11:00 am Group meeting setting the agenda for the week
12:00 pm Create analysis on a sponsor’s top portfolio companies
2:00 pm Work on case study – all DB associates interns will do two them, one per rotation
4:00 pm Coffee chat with a member of the team
4:20 pm ~Think about leaving at 7 pm because the day has been slow so far~
4:30pm Team in Europe has questions about recent documents from live client deal; need to organize and read documents for the rest of the day
~Work non-stop to push request out
9:00 pm Perform checks and discover we still have another set of documents to review
12:00 am Leave work finally done
As you can see my schedule can be erratic. Learn to expect this every day.
How do teams work?
At an investment bank, you will recruit into an industry or product group. Within those groups, you will be assigned to small teams for each of the projects are you on. Some teams are just a few people, me, an analyst, and a director. For bigger deals, you will be teaming up with people across the world and across many different groups. I am currently on a deal with several people in Europe in addition to a chain of command in NYC.
What business school skills do you use on the job?
Weirdly enough a huge number of skills, including ones I didn’t expect. The most unexpected skill I use almost every day is competitive analysis which we were exposed to in several core classes. My work is currently 50% modeling and 50% PowerPoint presentations requiring me to use a wide number of skills I have gained from coursework as well as case competitions. I use the skills gained from corporate strategy, corporate finance, financial analysis, and debt markets on almost a daily basis. I have been asked to analyze barriers to entry for a company’s industry, forecast the cash flows, and understand the inputs of debt ratings in a single project. My experience from case competitions and presentations has also been instrumental in creating and giving effective presentations in front of senior audiences. Also a big shout out to Laura Maxwell at Accelerate, in helping me organize the goals of my internship.
How is networking after the internship gets started?
Networking opportunities happen on a daily basis. Full-time associates and analysts are always asking to get lunch or coffee with you as they try to get to know you. At Deutsche Bank, senior leadership has several formal sit down lunches where the intern class gets to know them. Finally, there are social events every week where you get to know other parts of the bank and your fellow interns.
How engaged are our alumni at Deutsche Bank?
The alumni at Deutsche Bank are engaged in my success at Deutsche Bank. They were incredibly helpful during the recruiting phase and during the internship as I navigate Deutsche Bank’s corporate culture. I speak with Tepper alumni on a daily basis because I have been placed on the same team and floor as several of them. Our school alumni also participate at company events often as speakers or even marching at the Pride Parade.
How supportive is Deutsche Bank for LGBTQ employees?
The support at Deutsche Bank for LGBTQ employees has been outstanding. Beyond the LGBTQ friendly policies, the pride float, and the rainbow Deutsche Bank symbol, I feel comfortable being out at Deutsche Bank. I feel like I can bring my whole self to work every day at Deutsche Bank. I am incredibly pleased with my decision to work at Deutsche Bank this summer and the learning experience has been world class.