THIS IS A TESTIMONIAL FROM A PAST ALUMNIATHLETE WALL STREET INTERN:
I get in around 6:50. I quickly read over the biggest news stories, and then head to the 7:05 traders` meeting, where sector specialists give a brief overview of what is going on in their respective areas. The meeting is short and fast-paced, so you need to stay alert to get all the information.
After that, I go back to my desk and catch up on the rest of the headlines I didn`t get a chance to look at before the meeting. I also check if there are any new deals out and look at any research developments on our intranet. I am finished with that by 8.
If the sales people on the desk are already making calls to their clients, I go over and sit with them. Otherwise, I will work on my convertible bonds reading materials/discussion questions (to be completed at the end of each week) for an hour or so, or work on one of the projects (mostly focused on organizing data for the convertible bond universe and also for specifically the bonds that we trade) that was assigned to me. I try to shadow from 9-10 at the very least, and if it`s a pretty active day, I may stay until 11 or 12.
I don`t take a break for lunch; I bring it back to my desk, since that is what all the salespeople and traders do. I usually shadow a few other desks or talk to other people in the afternoon, and work on my projects some more.
I try to keep up with what is going on in the market as well, so I often have the hoot (a little box that lets you listen to CNBC or whatever is on the TV screen) on while I am working. I usually check ny times, wsj.com, and ft.com while I`m eating lunch to see anything new that has come out since the market open. About half the time we have intern events in the late afternoon.
Before I leave, I make myself a quick market summary with all of the major business and market-related headlines of the day and where the Dow, S&P500,! and NASDAQ closed. I also note the change in the dollar rate for yen and euros, the price of gold, and the 5- and 10-year treasury yields. This is not an assignment from the desk, but I found it incredibly helpful to do this at the end of every day to make sure I know what`s going on outside my immediate work space. I would recommend that future interns do the same. I usually leave around 5:30 or 6.
*For more information on the AlumniAthlete Wall Street Internship Program refer to the AlumniAthlete Network on Gotta Mentor