This review was submitted over 4 years ago, so some of the information it contains may no longer be relevant.
Rating
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The Role
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The Company
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The Culture
- 1. To what extent did you enjoy your work placement or internship?
- 2. To what extent did you feel valued by your colleagues?
- 3. To what extent were you given support and guidance by management/your supervisor(s)?
- 4. How busy were you on a daily basis?
- 5. How much responsibility were you given during your placement?
- 6. To what extent did/will the skills you developed, and training you received, assist you in your degree studies and beyond?
- 7. What was the general atmosphere in your office?
- 8. How well organised was the overall work placement or internship set up?
- 9. In terms of personal training and development, to what extent did the company or firm invest in you?
- 10. What were the perks on your work placement?
- 11. How appealing are future employment prospects within the organisation?
- 12. Was there a good social scene amongst any fellow placement students/colleagues?
- 13. What was the cost of living and socialising in the area you worked in?
- 14. What was the Nightlife like in the area you worked?
- 15. Were there many opportunities to get involved in activities outside of work?
The Role
A steep learning curve but constantly surprising and interesting, with people around you (including senior management) always willing to talk, provide advice and take time to explain assignments.
Colleagues are very helpful and supportive on the whole, open to questions and discussion.
Management structure was very clearly set out; first few weeks lacked much structure in terms of work, but things picked up after that. Guidance was provided more by supervisors of individual projects than by my staffer.
Hours are long but not ridiculous, especially for an investment bank. For the first couple of weeks there was not much to do, but things picked up quickly and I soon had a good balance of projects to work on.
Where possible, I was given the responsibility of delivering work to superiors and providing analyses, but given the nature of the industry it is normally not possible to take on too much with respect to major clients, important meetings, etc. It is more of a support function at this stage, although you will be invited to listen in on calls between agents in the bank and clients on a fairly regular basis.
Besides the technical know-how you acquire, working in a high-functioning, high-pressure environment such as that in an investment bank is extremely valuable, both in terms of managing yourself (your time, your focus on particular areas, networking) and others (their expectations of you, their trust in you, how they communicate with you etc.). Whether you are planning on entering the industry or not, it's a great experience to have under your belt.
The Company
Hardworking but positive - people are dedicated, but interesting and fun to work with.
Very structured in all aspects, except perhaps in providing structured projects in the first two weeks to enable us to add as much value as possible.
BofAML expects a lot, but employees are rewarded very well, both financially and in terms of career progression and other support systems. Welfare is considered as vitally important to the HR model.
Flexi Time
Subsidised Canteen
Sports and Social Club
Company Car
Subsidised/Company Gym
National Travel
International Travel
Financial Bonus
Company Parties/Events
Staff Sales/Staff Shop
Above 25 days holiday
Working from home
Healthcare from home
Healthcare/Dental
Travel loan
Undecided as yet - it's clear that the work is tough and your job will come before many other things. If that's your bag, go for it. BofAML is likely to be one of the best places to start a financial services career.
The Culture
The people hired are generally interesting, with varied backgrounds and good social skills. The intern class is large but there were only a handful in my division, so we became quite a tight-knit group.
It's London - it's very expensive. Usually the salary is enough to outweigh this though.
I didn't go out particularly often, but London has a great nightlife, regardless of your preferences. Having said that, it can be very, very expensive.
Not connected to the Bank necessarily, but being in London there is always something going on.
Details
Internship (1 Month+)
London
July 2014