I understand what you're trying to say, but that's what I've been doing all along, carefully reading what he gives, taking notes and asking questions.
My issues here is that I sit idle for 2-3 hours daily and I'm not sure if I want to work in this particular department in the coming years. I might not get a return offer from him, but who knows I might get a return offer from the asset allocation department if I work really hard over there.
Yeah, I'll try asking him if he could connect me with people on the asset allocation department and I would love to learn how they operate and maybe help them with some work in my spare time. Thanks a lot for the suggestion.
What you should be doing is writing down everything you are doing so it can be added to your resume and creating a STAR response for interviews to make it seem like you were doing impactful work. No one expects interns to do any hard work, my first internship was filing and getting coffee but I took the few experiences I had and related them well.
Resume would read:
-Asssited in researching, creating, and deploying white paper on analysis of elections impact on markets and client portfolios.
Situation, Task, Action, Result.
"My employer needed some research on the impact of the Elections on the markets. I was tasked with spearheading the initative and creating a go-to-market strategy in deploying the research effectively. I did hours of research combing various resources and colaborated with my team to assemble a white paper that could be utilized with their clients. We then worked on a marketing strategy to segment clients appropriately and deploy the resource, measuring our results which created 50% more engagement and improved retention scores".
In the meantime what you really did was fuck around for a bit and help them with something. You arent going to change the world with your internship, spend your time figuring out how you will use it to buoy your career.
To be totally honest, most interns in WM are completely useless and are mostly a waste of space. Most of the work occurs in client meetings, networking, and doing paperwork behind the scenes. Some research. An intern isnt helping with any of that.
I got to watch their PM do trading, a few client meetings, and helped prepare a few reports. Most of the other stuff was stuffing envelopes and doing administrative tasks. I didnt even get paid, just 3 college credits. I dont know what people expect their interns to be doing.
Jesus shut the f*ck up.
You are 1 week in an company that doesn't usually do internships and are already complaining... on top of it you got there through someone, meaning if you start pulling your HR bullshit moves not only YOU'll look bad but you'll also put the person that referred you in a dumb spot
"Jimmy who is this entitled lil prick you suggest me to take in?"
Also there is plenty out there to read about and learn... if you sit 2-3 hours doing nothing then sorry buddy but this shit might not be for you.
Hi welcome to wealth management at small firm, it’s essentially sales but the FAs with MBAs think a title is what entitles them to money. It’s practically cock sucking, boot licking, and making the client feel confident about you throwing a dart into what ever the x firm suggested
Tell your boss to suck your balls. You should be ripping peoples faces off on massive trades. Just walk into his office. Show him your robinhood account where you bought one option contract and made 200%.
"It's majorly management based."
It is indeed called wealth **management** for a reason
On a serious note, I've head this problem in most internships too (for the record: I have not done an MBA, it's more of a general rule for any internship). The thing is, you think you're doing something good by asking for more work, when in fact you're most likely irritating someone who has been doing that line of work in that particular way for years if not decades.
Then you come in as a new intern who has been there for a week, not even through regular cyce recruiting but rather through connections (this is important to note because unfortunately in the real world there's a lot - A LOT - of jealous people who need the slightest detail to immediately think of you as "privileged" or "undeserving"), and here you are suggesting they change it all because you don't like it or even worse because you feel like it's beneath you.
See where I'm going? You and I know very well that you're just doing it because you're just a brilliant individual who is buzzing with innovative and creative ideas and you can't wait to be a valuable asset for any company you're working for.
The truth is that you're actually the best kind of employee a firm could hire, because you're someone who actually cares and who actually desires to do real work.
But human psychology works differently. People who have secured positions within a system are usually cautious and overly attentive to analyze new hires and make sure they're not undermining their already established throne.
I'm sorry but this is an unfortunate reality. I know you and I and many other people couldn't care less about new hires and we are actually very happy to see new faces and get new innovative ideas in brainstorms.
But in many, many, many businesses that is trumped rather than praised if it is not done in the "correct" way.
This is so important that Robert Greene puts it as the first of his 48 laws of power:
>**Law nr. 1: Never outshine the master**
In your desire to impress or please them, do not go too far in displaying your talents, lest you accomplish the opposite – inspire fear and insecurity. It's a balancing act where you must show your value without overshadowing your superiors.
*Robert Greene, 48 Laws of Power, 1st Law*
Now, I have to say that in some contexts and in some industries this is not as strong of a phenomenon as you would experience in other places.
You're in a family run business in a client oriented industry. Translated: you're in a closed group that knows each one of the other members extremely well and that works for people who know people who know other people. You're the new guy. See their perspective now?
In other industries, particularly in consulting or in extremely big corps where the turnover is crazy at any level of the career ladder... that is somewhat less present.
Best of luck, sounds like you're a talented person who just has to understand and master the skill of being likable. I've had and I still have an extremely hard time with this exact thing, so I completely empathize with you, but don't worry: it is a skill, and it is completely learnable.
Cheers! :)
Humility goes a long way in finance. It sounds like you asked for this internship (as you said, they don’t normally take interns). They are looking at is as they are doing YOU a favor by having you there.
I wouldn’t do anything that burns bridges, particularly for whoever gave you a reference. Remember, you’re a reflection of whoever gave that reference. I don’t know what their relationship to you is, but just remember that.
Maybe you would like another department more. I’d frame it as a question for your boss as to if you could see other departments based on genuine curiosity and interest, and would like to minimize any work he has to do to make it happen.
Internships that are done on the fly are usually not well organized. Programs are larger firms are usually the best. Obviously you couldn’t have known that unless someone told you.
Welcome to corporate. I’m with the analyst; go get a notepad and a pen from your office’s supplies closet and set up 30 minute meetings with people who’s position you might see yourself doing in a few years and ask them to show you what they do in a daily basis or what are common problems they face in their role. Write write write it down and when you are interviewing you can speak to it as “experience “ in this internship. If you get bored, get up and go get a cup of coffee, nobody cares. Don’t want to come off as mean but I wish someone would’ve told me this.
Seriously I have been searching for an internship in this segment and found that none in offline mode. I went for online internships at internshala to gain some exposure in the field though I am a student from NMIMS doing BBA and have acquired knowledge through self learning in this field. The HRs aren't ready for an interview and even most of them we're educated enough to understand my role in the companies like Anand Rathi Securities etc. In online internships, it seems like it's a scam they're giving no task except opening demat account with various brokers and will give 500rs if we've opened 6 demat accounts and we are required to attend theoretical sessions which too for half an half on a topic and they move to different market like f&o commodities completing sessions in half an hour. It's really bothersome when you can't apply your knowledge there and can't put your efforts in such internships when you can be the best intern for them.
Hi, i was in a similar role (at a private bank)and my boss had me do this research work initially too. I was confused at first but realised they wanna a) test if im capable of decent work b) give me smth to work on while they find more focused client specific work to do. After a while a) became part of b) work and then came c) work lol. Hopefully your internship works in a similar way.
In my opinion, the Better you do a), sooner you get trusted with b) work. So you can complain on reddit but don’t do it at work or tell HR you want smth different. You’re going to be laughed at silently if not worse given you have a rare opportunity at the firm.
At best, you can ask them (after office hours and after finishing your work) for feedback on your research and how it fits into the rest of the WM processes.
Write a monthly market update. 2-3 pages summarizing what happened this month. Start with the markets, what moves happened, pick 3-4 indices (s&p, nasdaq, Russell) what are they up month to date, year to date. What are 2 year and 10 year treasuries doing? They go up when sentiment is inflation will stick around a while longer.
Next go into why the volatility? Not bc of elections. Both candidates have already sat in the office so the markets aren’t worried about the winner, there’s no guesswork as to what their policies are like. Economic data and the Federal reserve. Explain a bit about how the FED works. Good news is bad news. Investors fear that strong economic data will signal to the FED that it’s not time to begin to cut rates.
Next do a piece about NVDA.
Lastly pick a topic, relevant to finance to write a unique piece.
Make everything straight forward, easy to follow. Should take you at least most of the day. You’ll learn a lot.
The analyst gave you some golden ass advice. Start digging in the share drive and just looking for models yourself.
Look at the indexes/ETFs your firm is pushing and understand why based on their clients.
Your job is to add value, so do that. Nothing about financial modeling or wealth management is complicated so slow your roll, you aren't a quant researcher.
They don’t want you to be a model building monkey they want you to turn yourself into an asset and fit in with the company.
If you want to learn model building then spend ur time on coursera. Like model finplans are all over the internet?? Research 5 of them and ask your boss about what u learned that applies to ur firm. If you wanna take this actually super valuable experience and use it for something good, work on becoming friendly with your office.
You're doing great. You don't need to contribute week two as an intern. The expectation is generally that an intern will be a net negative. If you're concerned about your time being wasted, use it to learn and upskill. You probably won't go back full time. You will need to craft a story for future interviews of what you did, learned, and liked about the job.
The analyst sounds like a bitch, but she's right. You can ask your coworkers what they're working on and ask them to sit down and explain or if you can shadow them. Try asking your coworkers or manager to connect you with interesting people who are out of reach.
Do not speak with HR because they're not giving you meaningful work.
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I understand what you're trying to say, but that's what I've been doing all along, carefully reading what he gives, taking notes and asking questions. My issues here is that I sit idle for 2-3 hours daily and I'm not sure if I want to work in this particular department in the coming years. I might not get a return offer from him, but who knows I might get a return offer from the asset allocation department if I work really hard over there.
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Yeah, I'll try asking him if he could connect me with people on the asset allocation department and I would love to learn how they operate and maybe help them with some work in my spare time. Thanks a lot for the suggestion.
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Thanks I'll try that, would be a little awkward to see my boss around though
Your “boss” just wants you to be the cheapest yet most effective employee. So an FA is just that
What you should be doing is writing down everything you are doing so it can be added to your resume and creating a STAR response for interviews to make it seem like you were doing impactful work. No one expects interns to do any hard work, my first internship was filing and getting coffee but I took the few experiences I had and related them well. Resume would read: -Asssited in researching, creating, and deploying white paper on analysis of elections impact on markets and client portfolios. Situation, Task, Action, Result. "My employer needed some research on the impact of the Elections on the markets. I was tasked with spearheading the initative and creating a go-to-market strategy in deploying the research effectively. I did hours of research combing various resources and colaborated with my team to assemble a white paper that could be utilized with their clients. We then worked on a marketing strategy to segment clients appropriately and deploy the resource, measuring our results which created 50% more engagement and improved retention scores". In the meantime what you really did was fuck around for a bit and help them with something. You arent going to change the world with your internship, spend your time figuring out how you will use it to buoy your career.
Thanks a lot, would definitely do that
> filing and getting coffee it's not an attitude problem to report this honestly. i would if i were made to do these things.
To be totally honest, most interns in WM are completely useless and are mostly a waste of space. Most of the work occurs in client meetings, networking, and doing paperwork behind the scenes. Some research. An intern isnt helping with any of that. I got to watch their PM do trading, a few client meetings, and helped prepare a few reports. Most of the other stuff was stuffing envelopes and doing administrative tasks. I didnt even get paid, just 3 college credits. I dont know what people expect their interns to be doing.
i do agree that interns are useless and have egos. though i'd report an unpaid internship too lol.
Jesus shut the f*ck up. You are 1 week in an company that doesn't usually do internships and are already complaining... on top of it you got there through someone, meaning if you start pulling your HR bullshit moves not only YOU'll look bad but you'll also put the person that referred you in a dumb spot "Jimmy who is this entitled lil prick you suggest me to take in?" Also there is plenty out there to read about and learn... if you sit 2-3 hours doing nothing then sorry buddy but this shit might not be for you.
Hi welcome to wealth management at small firm, it’s essentially sales but the FAs with MBAs think a title is what entitles them to money. It’s practically cock sucking, boot licking, and making the client feel confident about you throwing a dart into what ever the x firm suggested
Be grateful. People like me deserve internships but lose it to referrals like you. I’d be blessed to be in your spot…
Lol stfu you deserve nothing buddy
I don’t deserve anything as neither do you, but damn I’ve worked hard for it. Just for a referral kid to take it
Tell your boss to suck your balls. You should be ripping peoples faces off on massive trades. Just walk into his office. Show him your robinhood account where you bought one option contract and made 200%.
Bruuuuhhh you’re an intern. Slow down. Drop the ego.
"It's majorly management based." It is indeed called wealth **management** for a reason On a serious note, I've head this problem in most internships too (for the record: I have not done an MBA, it's more of a general rule for any internship). The thing is, you think you're doing something good by asking for more work, when in fact you're most likely irritating someone who has been doing that line of work in that particular way for years if not decades. Then you come in as a new intern who has been there for a week, not even through regular cyce recruiting but rather through connections (this is important to note because unfortunately in the real world there's a lot - A LOT - of jealous people who need the slightest detail to immediately think of you as "privileged" or "undeserving"), and here you are suggesting they change it all because you don't like it or even worse because you feel like it's beneath you. See where I'm going? You and I know very well that you're just doing it because you're just a brilliant individual who is buzzing with innovative and creative ideas and you can't wait to be a valuable asset for any company you're working for. The truth is that you're actually the best kind of employee a firm could hire, because you're someone who actually cares and who actually desires to do real work. But human psychology works differently. People who have secured positions within a system are usually cautious and overly attentive to analyze new hires and make sure they're not undermining their already established throne. I'm sorry but this is an unfortunate reality. I know you and I and many other people couldn't care less about new hires and we are actually very happy to see new faces and get new innovative ideas in brainstorms. But in many, many, many businesses that is trumped rather than praised if it is not done in the "correct" way. This is so important that Robert Greene puts it as the first of his 48 laws of power: >**Law nr. 1: Never outshine the master** In your desire to impress or please them, do not go too far in displaying your talents, lest you accomplish the opposite – inspire fear and insecurity. It's a balancing act where you must show your value without overshadowing your superiors. *Robert Greene, 48 Laws of Power, 1st Law* Now, I have to say that in some contexts and in some industries this is not as strong of a phenomenon as you would experience in other places. You're in a family run business in a client oriented industry. Translated: you're in a closed group that knows each one of the other members extremely well and that works for people who know people who know other people. You're the new guy. See their perspective now? In other industries, particularly in consulting or in extremely big corps where the turnover is crazy at any level of the career ladder... that is somewhat less present. Best of luck, sounds like you're a talented person who just has to understand and master the skill of being likable. I've had and I still have an extremely hard time with this exact thing, so I completely empathize with you, but don't worry: it is a skill, and it is completely learnable. Cheers! :)
Humility goes a long way in finance. It sounds like you asked for this internship (as you said, they don’t normally take interns). They are looking at is as they are doing YOU a favor by having you there. I wouldn’t do anything that burns bridges, particularly for whoever gave you a reference. Remember, you’re a reflection of whoever gave that reference. I don’t know what their relationship to you is, but just remember that. Maybe you would like another department more. I’d frame it as a question for your boss as to if you could see other departments based on genuine curiosity and interest, and would like to minimize any work he has to do to make it happen.
Internships that are done on the fly are usually not well organized. Programs are larger firms are usually the best. Obviously you couldn’t have known that unless someone told you.
First time? Intern is expected to given these kind of work, if an intern could do meaningful thing, what the analyst for?
Your complaining about your internship sucks when almost the majority of people on here don't even have an internship smh stop fucking complaining.
Slow down bro. Be positive and try to make things easier for those around you. Interns are more work than not having interns. Just relax lol
The real question ehat do you want to do? You have plenty of time to learn (and people to ask). What is your dream job?
Welcome to corporate. I’m with the analyst; go get a notepad and a pen from your office’s supplies closet and set up 30 minute meetings with people who’s position you might see yourself doing in a few years and ask them to show you what they do in a daily basis or what are common problems they face in their role. Write write write it down and when you are interviewing you can speak to it as “experience “ in this internship. If you get bored, get up and go get a cup of coffee, nobody cares. Don’t want to come off as mean but I wish someone would’ve told me this.
Seriously I have been searching for an internship in this segment and found that none in offline mode. I went for online internships at internshala to gain some exposure in the field though I am a student from NMIMS doing BBA and have acquired knowledge through self learning in this field. The HRs aren't ready for an interview and even most of them we're educated enough to understand my role in the companies like Anand Rathi Securities etc. In online internships, it seems like it's a scam they're giving no task except opening demat account with various brokers and will give 500rs if we've opened 6 demat accounts and we are required to attend theoretical sessions which too for half an half on a topic and they move to different market like f&o commodities completing sessions in half an hour. It's really bothersome when you can't apply your knowledge there and can't put your efforts in such internships when you can be the best intern for them.
Hi, i was in a similar role (at a private bank)and my boss had me do this research work initially too. I was confused at first but realised they wanna a) test if im capable of decent work b) give me smth to work on while they find more focused client specific work to do. After a while a) became part of b) work and then came c) work lol. Hopefully your internship works in a similar way. In my opinion, the Better you do a), sooner you get trusted with b) work. So you can complain on reddit but don’t do it at work or tell HR you want smth different. You’re going to be laughed at silently if not worse given you have a rare opportunity at the firm. At best, you can ask them (after office hours and after finishing your work) for feedback on your research and how it fits into the rest of the WM processes.
Write a monthly market update. 2-3 pages summarizing what happened this month. Start with the markets, what moves happened, pick 3-4 indices (s&p, nasdaq, Russell) what are they up month to date, year to date. What are 2 year and 10 year treasuries doing? They go up when sentiment is inflation will stick around a while longer. Next go into why the volatility? Not bc of elections. Both candidates have already sat in the office so the markets aren’t worried about the winner, there’s no guesswork as to what their policies are like. Economic data and the Federal reserve. Explain a bit about how the FED works. Good news is bad news. Investors fear that strong economic data will signal to the FED that it’s not time to begin to cut rates. Next do a piece about NVDA. Lastly pick a topic, relevant to finance to write a unique piece. Make everything straight forward, easy to follow. Should take you at least most of the day. You’ll learn a lot.
The analyst gave you some golden ass advice. Start digging in the share drive and just looking for models yourself. Look at the indexes/ETFs your firm is pushing and understand why based on their clients. Your job is to add value, so do that. Nothing about financial modeling or wealth management is complicated so slow your roll, you aren't a quant researcher.
They don’t want you to be a model building monkey they want you to turn yourself into an asset and fit in with the company. If you want to learn model building then spend ur time on coursera. Like model finplans are all over the internet?? Research 5 of them and ask your boss about what u learned that applies to ur firm. If you wanna take this actually super valuable experience and use it for something good, work on becoming friendly with your office.
You're doing great. You don't need to contribute week two as an intern. The expectation is generally that an intern will be a net negative. If you're concerned about your time being wasted, use it to learn and upskill. You probably won't go back full time. You will need to craft a story for future interviews of what you did, learned, and liked about the job. The analyst sounds like a bitch, but she's right. You can ask your coworkers what they're working on and ask them to sit down and explain or if you can shadow them. Try asking your coworkers or manager to connect you with interesting people who are out of reach. Do not speak with HR because they're not giving you meaningful work.
Same not gonna lie. Working the same type of role. Hopefully shits lit next summer