Looking for a way to get your foot in the door of the finance industry? Here are a few things about finance internships that you probably wouldn’t have learned in school.
In the fast-paced world of finance in 2024, it is crucial to understand the pivotal role finance interns play within the industry, and the role that finance internships play in your career.
In this article, we will provide decode key details of a finance intern job description, the key finance intern skills you need to know and more. This will help you get a brief glimpse into the financial landscape, the significance of finance interns, and how internships can be a stepping stone for you career.
The Role of Finance Interns
The finance industry is ever evolving, adapting to technological advancements, economic fluctuations, and global market dynamics. In 2024, it remains a cornerstone of the global economy, offering a range of opportunities for young professionals.
Finance interns are crucial to many financial institutions. As an intern, you can offer fresh perspectives, energy, and a hunger to learn.
Finance intern job description usually entails responsibilities that offer hands-on experience and invaluable insights into the intricacies of the finance world. Internships aren’t about coffee runs and paperwork anymore; they are a transformative journey that can pave the way for a promising career in finance.
Let’s delve deeper into what a makes up a finance intern job description.
Finance Intern Job Description
Specific finance intern job description may vary depending on the specific company and department. But most finance intern job descriptions will comprise the following details.
Finance Intern Roles & Responsibilities
A finance intern’s duties and responsibilities usually include the tasks listed below:
Conducting research on financial markets and trends: This may involve gathering data from a variety of sources, such as news articles, financial reports, and economic data.
Analysing financial statements: This involves using financial ratios and other analytical tools to assess the financial health of a company or organisation.
Preparing financial reports: This may involve creating presentations, spreadsheets, or other documents that summarise financial data.
Assisting with budgeting and forecasting: This involves helping to develop plans for how money will be spent and earned in the future.
Executing trades: This may involve buying and selling stocks, bonds, or other financial assets.
Providing customer service: This may involve answering questions from clients or providing financial advice.
Networking with other professionals in the finance industry: This can be done by attending industry events, connecting with people on LinkedIn, or shadowing experienced professionals.
Finance Intern Skills
Finance interns are responsible for a variety of tasks, from data analysis to financial modelling. In order to be successful in this role, you’ll need to possess or learn key finance intern skills which are mentioned below:
Analytical Skills
You will need to be able to collect, analyse, and interpret data to make informed decisions. You should be able to identify trends, patterns and outliers in data sets, and be able to use statistical software to perform complex analyses.
Proficiency in Microsoft Office Suite
Microsoft Office Suite is commonly used the finance departments in businesses. As a finance intern, you should be proficient in using MS applications and MS Excel, in particular. You should be able to create and manipulate spreadsheets, presentations, and documents.
Communication Skills
You must learn to communicate effectively with a variety of people, including your supervisors, colleagues, and clients. You’ll also be required to write clear and concise reports and presentations.
Attention to Detail
Paying attention to detail is key for finance interns to avoid errors. You must carefully review financial statements and other documents for accuracy, and be able to identify and correct errors.
Problem-Solving Abilities
Finance interns need to be able to identify and solve problems. You should be able to think critically and creatively to come up with solutions.
These are just some of the skills that you will need as a finance intern to be successful in your role. If you are interested in pursuing a finance internship, it is important to start developing these finance intern skills early.
Finance Intern Salary
The average monthly finance intern salary range in India varies depending on the industry, experience, skills, company, and location. Here are some average monthly finance intern salary ranges you can expect across some popular industries:
| Industry | Average Monthly Salary |
| Investment banking | ₹30,000 – ₹50,000 |
| Asset management | ₹25,000 – ₹40,000 |
| Consulting | ₹20,000 – ₹35,000 |
| Banking | ₹15,000 – ₹25,000 |
| Insurance | ₹10,000 – ₹20,000 |
Here are some factors that can affect the finance intern salary in India:
Experience: Interns with more experience will typically earn more than those with less experience.
Skills: Interns with specialised skills, such as coding or data analysis, will also typically earn more.
Company: The size and reputation of the company also play a role in determining the salary of an intern. Interns at large, well-known companies typically earn more than those at small, lesser-known companies.
Location: The location of the internship can also affect the salary. Interns in major cities, such as Mumbai or Delhi, typically earn more than those in smaller cities.
Finance Intern Job Qualifications
The finance intern job qualifications in India vary depending on the specific role and company. However, some common finance intern job qualifications include:
Education: A bachelor’s degree in finance, accounting, economics, or a related field is typically required.
GPA: A minimum GPA of 3.0 is often required.
Experience: Prior experience in finance, such as through an internship or part-time job, is a plus.
Certifications and Training for a Finance Internship
There are a number of certifications and training programs that can help strengthen your candidacy for a finance internship. Some of the most popular certifications include:
Chartered Financial Analyst (CFA)
The CFA is the most prestigious certification in the finance industry. It is a three-part exam that tests your knowledge of financial analysis, valuation, and portfolio management.
Certified Public Accountant (CPA)
The CPA is a professional accounting certification that is required for many finance jobs. It tests your knowledge of accounting principles, auditing, and taxation.
Certified Financial Risk Manager (FRM)
The FRM is a certification for financial risk managers. It tests your knowledge of financial risk management, including derivatives, options, and futures.
Certified Treasury Professional (CTP)
The CTP is a certification for treasury professionals. It tests your knowledge of treasury operations, including cash management, investments, and risk management.
Certified Financial Planner (CFP)
The CFP is a certification for financial planners. It tests your knowledge of financial planning, including investment management, retirement planning, and estate planning.
In addition to certifications, there are also several training programs that can help you prepare for a finance internship. Some of the most popular training programs include:
Financial Modelling and Valuation Training: This program teaches you how to build financial models and value companies.
Investment Banking Training: This program teaches you the basics of investment banking, including mergers and acquisitions, underwriting, and financial analysis.
Corporate Finance Training: This program teaches you the basics of corporate finance, including budgeting, forecasting, and capital budgeting.
Risk Management Training: This program teaches you how to manage financial risk, including market risk, credit risk, and operational risk.
Financial Planning Training: This program teaches you how to create financial plans for individuals and families.
The certifications or training programs listed above will give you a good foundation in finance and make you a more competitive candidate for a finance internship.
FAQs on Finance Intern Job Description
Q1. What is a finance internship?
Ans: A finance internship is a temporary position in the finance industry that allows students or recent graduates to gain hands-on experience in the field.
Q2. What is a finance intern?
Ans: A finance intern is a student or recent graduate who is working in a finance-related role for a limited period of time.
Q3. What is the role of a finance trainee?
Ans: The role of a finance trainee can vary depending on the specific company and department, but some common duties and responsibilities include:
a. Conducting research on financial markets and trends
b. Analysing financial statements
c. Preparing financial reports
d. Assisting with budgeting and forecasting
e. Executing trades
f. Providing customer service
g. Networking with other professionals in the finance industry
Q4. What skills are required for finance intern?
Ans: Here are some key skills required for a finance intern:
a. Strong analytical and problem-solving skills
b. Excellent communication skills
c. Proficiency in Microsoft Excel and other financial software
d. Attention to detail
e. Ability to work independently and as part of a team
f. Strong interest in finance.
Q5. What qualifications are required for a finance intern?
Ans: Here are some of the qualifications required for a finance intern:
Education: A bachelor’s degree in finance, accounting, economics, or a related field is typically required.
GPA: A minimum GPA of 3.0 is often required.
Skills: Strong analytical, problem-solving, and communication skills are essential.
Experience: Prior experience in finance, such as through an internship or part-time job, is a plus.
You May Also Like :
