How Does a Wall Street Intern Spend a Workday?

Definition of an Intern

A Wall Street intern has many responsibilities, and often they extend far beyond the official job description. Typically, a Wall Street intern is one of the first people into the office and the last to leave. A Wall Street intern earns very little money, and there is no guarantee of a position within the company at the end of the internship. For that reason, the intern is one of the hardest working people in the office, since he is vying for the attention of a decision-maker. Internships are very competitive and interns are often among the most driven to succeed. Since interns often have more to prove than anywhere else in the office, they are among the most dedicated of the company's employees.

Duties

A Wall Street intern will typically rouse himself from bed around 4 a.m. to shower and prepare for this workday. A Wall Street intern who wants the best chance at getting a job at the end of their internship will typically get into the office before 7 o'clock in the morning. He will organize the files for his boss, and he will prepare the day's phone lists. An intern is typically enlisted to do cold calling work and try to attract new clients. Once the phone lists for the day are organized, he will attend the mandatory morning sales meetings. Meetings typically last at least a half-hour, after which the intern is expected to spend his time on the phones trying to drum up new business for the firm. Lunches are seldom eaten out of the office, since the intern is trying to prove his dedication. Afternoons will, if the intern is lucky, involve meetings with clients, assuming that the full-time sales force will allow it. The most successful intern is likely to be allowed more rights and privileges than those who bring in smaller sales numbers.

Considerations

Regardless of how well an intern does, there is no guarantee that he will be offered employment at the end of the internship. While the standard pay for an intern is low, there is the hope that he will be permitted a share of any commissions earned by his cold-calling actions. An interns can expect to make anywhere from 150 to 200 calls per day, typically from generated lead lists that the firm purchases from marketing companies.