As a field, finance is highly dependent on networking, far more than many others (save, perhaps, acting). Who you know, who you’ve worked with, who can vouch for you; all of these matter a lot when trying for an eventual career in the financial sector, especially for students aiming for major Wall Street firms. This networking begins in early college, but many high school students want to get a jump on it, a chance to get their foot in the door. These opportunities are unfortunately often limited, but they do exist. In this article, we’re going to look at banking internships available to high school students; what they entail, who offers them, and how you can take part. While these are not a guarantee of a future career, they can help you stand out when you begin more serious networking in college.
A Brief Note on Internship Locations
Banking internships are generally in person, and take place at physical branches of these banks. Now, where these are located varies, but it is generally going to be easier for students living in cities to have access to at least one of these internships. This is not universally true; not every city has every bank or internship on offer, but cities as a whole offer more of these than more rural areas.
Because these internships are in-person and do not provide housing, you may find your ability to participate limited by geography. Many of these internships will only accept students who are local, or those who can demonstrate that they will have a place to stay during the summer and can positively commit to the entire period of the internship, taking responsibility for their presence and performance.
If you are located in an area without these internships, and do not have the ability to travel, then you may need to look into alternate ways to spend your summer. We have some great articles on that as well. Note that while these internships are great opportunities, they are not required to get a career in finance. They are a great addition, not a pre-requisite.
Fidelity Summer Internships for Students
Fidelity offers a selection of for students. While many of these are aimed primarily at students who are already in college, some are intended specifically for high school students. Notable among these is their program. This offers internship and shadowing opportunities specifically to female high school students.
These are summer internships, and last up to five weeks. Note that these are location dependent, and are hosted by Fidelity branches across the country; you are in charge of your own housing and transportation during these programs. Internships can last for up to five weeks, though some of these are shorter programs. The goal is to give students a sample of what a career at Fidelity is like, and to increase access to and interest in the field of finance.
There are not currently high school internships widely available at Fidelity, but we do recommend students who are eligible take advantage of these offerings. While the high school programs are not as in-depth as what college students experience, they are still a great introduction to the field of finance.
CLA (CliftonLarsonAllen, never actually called all that, and the no spaces is intentional) offers a summer internship program specifically for high school students, designed to give them hands-on experience with accountancy, and to inspire them to pursue accounting careers in the future. As one of the largest global accounting firms, they are well positioned to do this.
These internships are organized centrally, but are offered and administered by separate CLA branches, and you must apply to the specific branch you wish to intern at. Not every CLA branch offers these internships, but there are opportunities across the US. As with all of these internships, they do not provide housing; for this reason, students generally only apply to internships which are geographically close to them.
The internship lasts for four weeks in the summer, and interns work a full shift, from 9 am to 4:30 pm. You must be at least 16 to apply, and most internships require you to be under 18; this is an ideal internship for the summer before your senior year. You must be able to commit to the full program, and you must be eligible to work in the US without requiring a visa.
KPMG High School Internship Programs
KPMG (Klynveld Peat Marwick Goerdeler, which nobody uses (seriously, try saying that five times fast)) is one of the Big Four accounting firms. It’s technically a British multinational, but it has a major presence in the US. It is interesting as it has offered high school internships in the past, and may again, but it has currently discontinued them in the US.
In Canada, however, KPMG offers a pair of for high school students interested in finance and accountancy. The SPARK event is a short engagement, where students attend a brief lecture and workshop on careers in accounting, and get to assess what these offer, and whether this field is something that really interests them.
They have also collaborated with a number of partners in Canada to offer coursework and scholarships to students. Their primary internship through this is a six-week summer program specifically for black students in Canada with an interest in finance and accountancy. This provides both an internship experience, and a college scholarship to participating students.
1435 Capital Management Internships
Run by a smaller and more local (but no less interesting) firm, offers a summer internship to high school students interested in the fields of venture capital and finance. This is a hybrid internship based in Princeton, New Jersey; students are expected to be able to commit to both the virtual and in-person portions of the experience.
This internship is aimed at students currently in their junior or senior year of high school; you must be aged 16-18 in order to apply. Applications are processed on a rolling basis. Technically, this internship is open to US students regardless of origin, but due to its nature as a hybrid internship, is generally only suitable for students local to that area. If you live in New Jersey and have an interest in venture capital, then this is a good opportunity for you to consider. This is a paid, ten week opportunity, and you will be working full time for the duration of the internship; this is quite valuable for the length and intensity, which most internships lack.
This is a program in Chicago, and is only open to Chicago students. It is fully funded by the local business community in Chicago; students who apply are partnered with a mentor from that community, all of whom volunteer to work with the program. These are paid opportunities, and exist to give students in Chicago an entryway into the world of business, particularly (though not solely) finance.
The application is online, and is open from February 1 to March 31. The program has strict eligibility requirements, more so than many of these internship programs. These are:
- You must be a resident of the city of Chicago
- You must be a current sophomore or junior, and have a GPA of at least 3.0 unweighted
- You must have a family or household income of $80,000 annually or less
The application itself requires a high school transcript, a resume, an essay response, and two letters of recommendation. They are looking for students with the drive and capacity to excel if admitted into this program. You must be able to commit to the full duration of the program.
During your internship, you will both work directly with your mentor, and attend learning experiences with other interns; workshop, seminars, and other events where you will hear from business leaders and professionals. The goal is to give students a full introduction to the business landscape in Chicago.
Boston Federal Reserve
The Federal Reserve Bank in Boston runs in partnership with Boston’s Private Industry Council. This program is specifically for Boston-Area students, and begins with a summer work experience, followed by the option for a full-year internship program. Depending on student and program, these can last up to three years.
This program is only available to students who attend public schools in Boston, and is specifically intended to increase the access of low-income students to careers in business and finance. You must be a current sophomore to apply for this program, and able to commit to the full duration of it.
This is a paid internship program, intended to be an option for students from low income backgrounds who may otherwise need to work during the summer. Who you end up working with and what exactly you are doing depends on the corporate partner you are placed with, though all students have shared mentorship and group experiences as part of the program. This is a very good program for Boston students, and we recommend applying if you live in the area.
Final Thoughts
Getting involved in finance and business is difficult for high school students, but difficult is not the same thing as impossible. All of these are competitive programs, and require a lot of work once you are admitted, but that’s a large part of what makes them so valuable. Colleges want students who are unafraid of hard work, and who are eager to actively pursue their goals; these programs are a great way for you to demonstrate these traits.
If you’re having trouble finding summer programs that match your own interests, or want advice on applying to one of these rather competitive programs, then ³Ô¹Ï¹ÙÍø can help. Our mentors are masters of helping students find and develop their passions, and in helping them get into the best programs for them. Schedule a free consultation today to learn more about how we can help you.
