IBC takes six to eight interns annually and has interns during the fall, spring and summer. There is no stipend, but college credit may be arranged. Interns assist IBC staff with research projects, monitor government activities in countries of interest and provide background information on certain countries for clients.
Applicants must be college juniors or seniors or graduate students majoring in economics, political science or business. Cumulative GPAs should be 3.5 or above. Previous experience is helpful, although not required. Applications should include a college transcript, writing samples, a cover letter and two letters of reference. There is no formal deadline.
Ruder Finn &Rotman, Inc. (RF&R)
New York, NY
RF&R is a large independent public relations agency. It has offices in New York, Chicago, Washington, Los Angeles and Toronto with international partners in Canada, Europe and Japan. The firm serves corporations, foreign institutions and governments and nonprofit organizations.
RF&R takes 27 interns a year, 9 each during the fall, spring and summer. Interns work full-time at the New York office and receive a salary of $250 a week. Interns may have an opportunity to write press releases and "pitch letters," develop media lists and contacts, conduct research, participate in planning and coordinate special events and press conferences. Interns attend training sessions on different aspects of public relations such as international business, product promotion, tourism promotion, government relations, sports marketing, broadcast communications, and design. Although interns are not sent abroad, they might work with overseas clients. RF&R views the internship as a training ground for entry-level public relations professionals and has hired 90% of its former interns.
The internship is very competitive: about 200 applications are received for each session. Applicants may be undergraduate or graduate students majoring in the liberal arts disciplines, such as English, political science, and languages or law, advertising or business management, or professionals interested in changing careers. Knowledge of a foreign language can be useful, as can previous experience in public relations and a demonstrated interest and ability in communications. Applicants should send a resume and request an application at least two months prior to the application deadline. In addition to taking a writing test, which is included with the application, applicants must arrange for an interview during which they will be asked to analyze a public relations case study. The deadlines are April 1 for the summer program, June 15 for the fall program and November 1 for the spring.
International Finance/Banking
Chase Manhattan Bank
New York, NY
Chase is divided into three core businesses: global banking, national banking and consumer banking. With operations in over 100 countries, the corporation offers a comprehensive range of financial services to corporations, individuals, financial institutions and governments around the world.
Chase offers 20 summer internships each year to MBA candidates between their first and second years and 26 internships to undergraduate students between their junior and senior years. The 10-week program integrates interns into business teams or projects that involve analysis of financial data and writing reports. Weekly seminars are planned with the officers in the bank. All positions are salaried.
Occasionally there are internships in international departments in domestic branches. There are also a few positions available in offices abroad. Candidates for the latter positions should have at least two years experience working or living in the country for which they apply and have good command of the language of that country.
Graduate interns are recruited on business-school campuses around the country.
The First Boston Corporation
New York, NY
First Boston is an international investment bank with headquarters in New York City. It provides clients with access to world financial markets, executes securities transactions, manages and participates in private- and public-security offerings, and advises its clients on a broad range of financial matters.
First Boston hires 40 to 50 MBA candidates between their first and second years to serve as interns each summer. Although there may be a few openings in international departments, most interns work in the departments of public and corporate finance and sales and trading. Interns support the professional staff in projects requiring quantitative analysis skills and are paid a competitive salary.
First Boston seeks students with a well-rounded background and some financial experience. Preference is given to interns with two to five years experience in investment banking. Interns are recruited from business schools throughout the country, and resumes with cover letters are accepted from October through February.
First National Bank of Chicago
Chicago, IL
First National Bank of Chicago is part of First Chicago Corporation, a diversified financial institution with international offices in 35 cities around the world. Among its many activities, the corporation offers institutional investment management, international banking and leasing, merchant banking, real estate, corporate, personal banking and venture capital services. It takes both undergraduates and MBA students as summer interns. Interns are salaried and work in the Chicago area.
Candidates must demonstrate ability in and knowledge of banking and finance. The bank recruits all of its graduate interns at 16 business schools around the country and does not accept outside resumes.
A dozen internships are available for undergraduate students between their junior and senior years who have an interest in banking and finance. Although no previous banking experience is required, it is necessary to have good communications and analytical skills. Former interns are often recruited for full-time positions after graduation.
National Westminster Bank U.S.A. (Nat West)
New York, NY
Nat West is a New York-based American bank. Its international group serves the international banking needs of American firms as well as foreign governments, banks and corporations. It has regional offices in Chicago, Denver, Los Angeles and San Francisco; international offices are in London, Hong Kong and Rio de Janeiro.
Nat West has an informal summer internship program for both under- graduate and graduate students. Of the 10 to 15 students hired each summer, 2 or 3 are placed in an international division within the bank. Interns are hired for specific projects and are given challenging assignments. In the international department, such assignments may include country risk analyses, data analyses and writing briefs.
Undergraduates are hired during the summer following their junior year; MBA candidates are hired for the summer between their first and second years. For those interns hired for the international department, a second language is helpful but not necessary; French and Spanish are the most useful. No financial work experience is necessary, but it can be beneficial in the selection process. However, previous course work in finance and quantitative skills is essential.
Salomon Brothers, Inc.
New York, NY
Salomon Brothers is a New York-based investment banking firm. Its activities include securities underwriting, international investments, real estate financing and a wide variety of other financial research operations. The company maintains branch offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San Francisco, Tokyo and London.
Salomon Brothers hires interns between their first and second years of work toward an MBA. Twenty interns are hired each summer for the six branches in the U.S. Most are hired for sales and trading or corporate finance, but there are occasional openings in international securities.
Interns in this department are not sent abroad to work, however. Salomon Brothers pays interns a competitive salary. Interns are not hired to work on specific projects. After undergoing a one-week orientation, they are encouraged to explore a wide variety of projects and types of work within their department. Former interns are often hired for permanent positions.
Most interns are selected through a campus-recruitment process. Salomon Brothers interviews potential candidates at 25 to 30 top U.S. business schools.
