Summer Analyst Review

A really valuable and enjoyable experience. The people at BofAML really make the effort to support you and take care of you, making sure you are really learning throughout the process. The impression I received from the people and the bank was overwhelmingly positive, from the juniors right to the team heads. It is one of the only investment banking internships with no rotations and set teams but a pool system, which really allowed you to understand how different teams worked together and the culture in each team, however it did mean there is an element of politics, which was sometimes quite challenging.

The people here are really what made it for me. I have met the most generous and passionate people whilst working here. The work you do at the start was often quite basic, but with each task the analyst/associate was excellent at taking the time to explain why this work was being done and how it contributes to the wider picture, helping you learn a lot. Often could see our work being directly incorporated into decks for the client, which was very encouraging.

Fantastic support. Due to the pooling system, guidance and support was mainly from analysts and associates as opposed to more senior people, but I never felt there was a situation where I did not have anyone to turn to if I had a question or an issue. Each person is assigned a buddy, which meant I could turn to them for any small day to day questions, and a staffer, who assigned you work and was there if I had any work-related issues.

Due to the nature of the work and of the internship, the workload fluctuated massively, from being on several projects that were yet to start to suddenly having to deal with multiple projects and deadlines. It was quite unpredictable, but once the internship got going, people found themselves at a much more comfortable level of busy, as also we learnt how to do more things.

A comfortable amount, given that we had only received a few days' training and many of us were not from finance backgrounds. Our work was (rightly) checked through by analysts who set it for us, but unlike in an internship for consulting, for example, there were not many cases where we would work directly with a managing director, or meet clients face-to-face.

It felt like quite a casual, friendly atmosphere, where people in general did not take themselves too seriously. There are some barriers between desks and to the opposite desk, which can sometimes feel a bit isolating. People who work full-time within teams have great relationships, and often go to have lunch and dinner together, and drinks after work on a Friday, so there is a great camaraderie feel to the bank, which is something I did not expect so much when coming in.

There were good events organised throughout the internships for all the interns, such as the mid-internship event at the Museum of London and the end of internship party, which was great fun. There really was the sense of BofAML looking after us and caring about our welfare, which in turn created a good and healthy culture for the interns to work hard but know that there were people to turn to if anything were to become an issue. Overall, I think the rule that interns had to leave at 10pm was positive as it ensured that we were judged on our work as opposed to facetime.

I think in terms of development, individuals in the bank invested huge amounts in us, through explaining difficult concepts in our work, but also through the time spent by very senior bankers sitting down and talking to us about their experiences, often one-to-one, and to answer any questions we may have. In terms of bank-wide, we had weekly learning sessions that were sometimes interesting, but I think there could have been room for improvement in terms of making them slightly more engaging and relevant to our internships.

BofAML hire graduates almost exclusively from the intern pool so employment prospects are high.

Interns were keen several nights a week to go for a drink after work in Paternoster square. There were numerous team drinks events, which were really good fun as they allowed us to get to know the those who are full-time employees in the team in a much more informal and relaxed setting - often culminating in a night out! There were a good number of drinks and club nights among the interns during the weekend too, and overall I think I have made some really great friends during my time here.

Quite expensive! Being based in the city, lunches were often around £7-£9, and the canteen I think is not subsidised, making it quite expensive also. Cost of living in the area was the main spending factor for me. Team drinks were paid by the bank but intern club nights often ended up costing quite a lot, with entry and also very pricey drinks! I would say my biggest sources of spending derived from lunches and Ubers.