It is already Thursday! I had no idea what to expect when I walked into week one of my internship at KeyBanc Capital Markets as an Investment Banking Summer Analyst.
Last week, all Key interns attended an orientation at the headquarters in downtown Cleveland. There we learned specifics about the banks, and also found out one of the more shocking rules, especially from an investment bank: interns could only work 50 hours maximum per week. For those who don’t know, investment banking is known for its rigorous hours– early mornings, late nights, and the weekends. To hear this news was slightly concerning. When you go through the interview process for IB, it is expected that you know what you are walking in to hour-wise. There are stories of people clocking in 110+ hour weeks (no exaggeration) and I was expecting to average around 80 hours at a middle market bank. This rule was concerning because it is not realistic of the industry, especially if I am lucky enough to get a return offer and come back as an analyst.
When I walked into the office day one, we met with my manager who explained that the rule is not enforced if the manager is aware and approves your exceeding of the hours limit. This was a relief and definitely got me hyped for a challenging summer (I think IB interns are the only people who get mad at 50 hour rules).
Since I have started here, I have worked 13 hour days: getting into the office around 8:30am and staying until 9:30pm or so. It sounds like a very long day, but it FLIES. The work I am given is significant and purposeful, and I have tough expectations. This forces me to work harder, and really utilize my attention to detail, problem solving, and communication skills. I am in the technology group, Pacific Crest Securities, so I am unfamiliar with a lot of the industry and have a lot to learn about cloud communications, infrastructure management, etc. My group is incredibly supportive and inclusive of myself and the other intern which makes it easier to ask questions. While I have high expectations in regards to the quality of my work, they also want me to be inquisitive and learn. It is encouraged to treat this internship like a student and learn throughout the 10 weeks I am here.
I will be staffed on various live deals throughout the summer, and get to attend the Global Technology Leadership Forum in Vail, CO at the beginning of August. This is going to be an amazing summer and I can’t wait to share it with Fisher!