With the arrival of 2023, a new wave of investment banking winter internship opportunities has come. For college students majoring in finance or economics, winter internships at top investment banks can be critical to starting a career in investment banking. By interning at firms like Goldman Sachs, JPMorgan, Morgan Stanley or Bank of America, students can gain hands-on experience in financial modeling, valuation, mergers & acquisitions, IPOs and other key competencies. Additionally, conversion rates from winter intern to full-time analyst tend to be very high at most banks. This article will provide an overview of some of the most sought-after investment banking winter internships for 2023.
JPMorgan and Morgan Stanley open early 2023 winter internship programs
Two of the top investment banks, JPMorgan and Morgan Stanley, have already begun accepting applications for their 2023 winter internship programs, much earlier than previous years. JPMorgan’s corporate and investment banking winter internship is located in New York and runs from January to April 2023. Interns will be staffed on live transactions and tasked with building models, preparing presentations and assisting senior bankers. JPMorgan notes that they are looking for candidates with outstanding academic records from globally recognized institutions. Meanwhile, Morgan Stanley is hiring winter interns in its London office within M&A, Capital Markets and Investment Banking Divisions. The 10-12 week program starts in January 2023 as well. Morgan Stanley states that fluency in English is required, and knowledge of an additional European language is preferred.
Boutique banks also on the lookout for winter interns
In addition to bulge bracket banks, some elite boutique investment banks are recruiting winter interns for 2023 as well. Evercore has begun accepting applications for M&A, restructuring and debt advisory winter interns in New York. The program runs from January to March 2023. Evercore notes that successful candidates often receive full-time job offers. Centerview Partners, another top-tier boutique bank, is hiring winter interns for its U.S. offices too. Centerview looks for strong team players with top grades from leading undergraduate business programs. Meanwhile, Moelis & Company is searching for winter interns in Chicago and New York within its generalist investment banking division. In terms of qualifications, Moelis wants students attending a top 30 college or university, and finance/accounting majors are preferred.
Internships in Europe and Asia available too
For those interested in interning abroad, many international investment banks have 2023 winter programs available. UBS is accepting applications for 10-week winter internships in London within its investment banking team covering the EMEA region. UBS notes that fluency in English and other European languages is a plus. In Asia, Nomura has openings for winter interns in its Hong Kong office covering investment banking and markets divisions. Nomura prefers students who attend globally recognized universities and have relevant work experience. Also in Hong Kong, HSBC starts its 9-week winter internship in December 2022 covering corporate finance and capital markets. HSBC wants candidates attending a top 100 university worldwide. Clearly, the opportunities are plentiful for motivated students to land an investment banking winter internship and get a head start on a successful finance career.
In summary, the 2023 investment banking winter internship recruiting season presents rich opportunities at elite banks like JPMorgan, Morgan Stanley, Evercore, HSBC and Nomura. By securing one of these selective programs, students can gain invaluable experience in financial modeling, valuation and deal execution while positioning themselves for a full-time investment banking offer down the road.