The spring week internship has become a popular recruitment platform for the European offices of investment banks. Goldman Sachs, Morgan Stanley, J.P. Morgan, Credit Suisse, UBS, etc all hold spring weeks in their London offices. There is a growing trend towards these internships in the US but not to the same extent as Europe. These are essentially one week unpaid programs (Goldman Sachs is two weeks and paid) where students are given an opportunity to learn about the operations of an investment bank, meet employees and develop an understanding of the industry. Top performers are then given an opportunity to interview for summer analyst positions the following year. A couple of key points to understand about spring weeks:
They are for students two years below their graduating year
For students in a three year degree this is their first (freshman) year. For students in four year degrees this is their second (sophomore) year. This is because spring weeks are used as a recruitment tool for the following summer analyst class. Summer analysts are typically students in their penultimate year.
Spring weeks are competitive
Even though applicants are a year younger than prospective summer analysts, spring weeks are still highly competitive. The intern class is smaller than the summer analyst class but many still apply. CVs and cover letters are required along with numerical, logical reasoning or situational awareness tests. For top tips on perfecting your CV and cover letter purchase the Crushin IB Recruiting guide. Further, there are several rounds of interviews – although there are no super days. These interviews consist of technical and motivational questions which applicants will be expected to know. For a complete guide on how to crush your technical questions see our technical interview guide.
Spring weeks are the easiest way to secure a full time analyst offer
Although spring weeks are competitive, they are probably the best way to secure a summer analyst and subsequent full time analyst offer since the firm will have invested time and resources into your development from an early stage. They give you an edge on other students as you will already have built a network within the firm before joining as a summer analyst – to understand how important networking is and how to do it effectively see our ultimate networking guide. Compare this to students who have never stepped foot in an investment bank before their summer analyst internship, they usually will not know anyone on the job and do not have any first-hand experience of what it is like on the desk. Finally, having spring week experience on your CV will make you stand out relative to other summer analyst applicants.
Spring weeks may or may not be division specific
This is important to bear in mind since you will be expected to make a decision between sales & trading or investment banking at an early stage in recruitment. Because of this, it is important to inform yourself of the differences and make a decision about which is better for you.
Because spring weeks are only for one week, it is possible to do two or even three of them. We encourage you to do this since it will grow your network, enhance your experience and maximize your chances of securing a summer analyst offer. Further, if you are unsure about which division to apply for, then consider doing a sales & trading spring week at one bank and an investment banking spring week at another. This allows you to compare and contrast the divisions from first-hand experience. For more detail on the different divisions of an investment bank, purchase the Crushin IB Recruiting guide
Spring weeks take place in the spring semester close to summer exams
Because of this, you should prepare accordingly for your exams taking into account you may miss one or more weeks of college (depending on how many spring weeks you get).
P.S. If you would like to learn more about banking recruiting, you should invest in our guide “Crushin’ IB Recruiting” Learn more