Summer Analyst Review

I really enjoyed the Nomura 5 week virtual internship. The internship was planned incredibly well, especially considering the last minute changes and rearrangements due to COVID-19. The initial training (2 weeks) was a huge learning curve but exceptionally effective, as it provided us with a great base from which to build. HR had clearly made efforts in getting us to meet senior MD's across the IBD division, which were great opportunities to network and learn. Furthermore, the team in which I sat made great effort to teach and guide me, and it was clear there was a culture of ethics, teamwork and collaboration.

Due to the virtual aspect of this internship, it was slightly more difficult to feel valued by teammates and colleagues. However, the team made a genuine effort to do so, through weekly, and often daily when required, calls. Saying that, often senior members of the team would constantly postpone virtual catch-ups to the point that I was never afforded the opportunity to talk to them. This made me feel less valued, especially when those same seniors would make decisions regarding my future. HR however made continual efforts to keep us engaged, with weekly catch-ups which allowed us to express any doubts.

I was given exceptional guidance throughout by buddy. Essentially in 2 weeks I had to complete project, and my buddy ensured that i was given the necessary materials to build a base of understanding of the industry from the off. Sometimes, I certainly felt challenged and slightly lost, but that was part of the learning curve and it would have been unfair of me to expect to be spoon-fed throughout. Senior members were less hands-on, as expected.

The level of how busy I was fluctuated dramatically, dependent on the period of the internship. During the two weeks prior to the project presentation, I was extremely busy and was working for 12-15 hours a day, often till 2-3am. However, during training, hours were 9-5:30pm with homework afterwards. In the final week once the project was completed, my level of work dramatically fell off, and I would often find myself twiddling my thumbs and asking for work with no concrete response from any of the team.

I was not given much responsibility throughout this internship, a major reason being the virtual aspect of it. I was not given any live deals to work on, and the work I did do often assessed my ability to analyse past deals. Whilst this was beneficial, it didn't help with motivation because I knew I was not making a difference. Often, I found that because I wasn't given live work, I would feel like a burden to the team because they would have to teach me things which wouldn't actually benefit them in any way.

In terms of the 2 week training provided, it would help me exceptionally if I was to continue pursuing a career within investment banking. It was thorough and built from the ground up, and I feel it has provided a technical base from which I can now go into technical interviews with a large amount of confidence. I developed skills in terms of interpersonal skills in a virtual environment, which is beneficial in a time when virtual working will become all the more common. The work, through networking, has certainly given me direction and advice in terms of next steps, both academically and professionally i.e. MBA, CFA etc.

I cannot say since it was virtual.

The internship was exceptionally organised, especially given the last minute virtual nature. Right from the off, all interns were given handbooks which would guide us through the first two weeks till we joined the desk, and provided instructions for remote desktop setup. It was very necessary. Even in joining the desks, the staffer in each team was really helpful and knowledgeable. The only reason i wouldn't give organisation a 10 is because in the last week, there were issues regarding offers for interns. These issues were communicated to interns in the midst of presentations, which was very untimely and quite a distraction.

It was clear that the company spent a large amount of money in training us, through FE Training. Even though the internship was only 5 weeks, we were still given the full two weeks worth of training, highlighting how important and central a part the firm believed it was. In terms of development, the firm clearly put effort into preparing an individual project for each intern. A lot of guidance and assistance was given, and it required a large amount of the teams time.

Future employment prospects at Nomura are confusing. The firm itself was exceptional, the team members clearly extremely smart and able, and the culture was inclusive, friendly but challenging. However, employment prospects were dealt a big blow with confusion in the last week regarding offers for interns, and this put into question the financial soundness of the firm. Usually, interns and analysts are largely unaffected by firmware job cuts/restructuring, and it is clear other banks have abided by this 'gentleman's agreement'. However, Nomura clearly felt the need to delay offers, and this wasn't too positive a sign.

Due to the virtual nature, it was clear that this was very limited from the off. However, HR made a valiant effort to provide us interns with virtual socials, which were awkward, initially. However, it was a good idea for HR to continue these social sessions every week, which ensured that we could break down some barriers with fellow interns. Further, a face to face social was organised by the interns themselves, for those of us in London.

Lived at home

Virtual internship.

Virtual so very limited..