What is a Finance Internship?

A finance intern assists the work of a financial institution getting hands-on education and experience about financial policies. He/She or she will be around for the development and implementation of payroll, budget control, accounting, and financial management practices.

Following the lead of an accountant or a finance director in the auditing or accounting processes, interns can get a glimpse of the daily activities the position requires while applying theoretical knowledge about the laws and regulations of the financial sector to real-life situations.

As usual, an internship is a great way to get one step ahead in the line for a nice spot as an employee in the financial sector. Whether it is a paid or unpaid placement, it will definitely be worth your while.

What Does a Finance Internship Do

There are certain skills that many finance interns have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed organizational skills, customer-service skills and initiative.

Learn more about what a Finance Internship does

How To Become a Finance Internship

If you're interested in becoming a finance internship, one of the first things to consider is how much education you need. We've determined that 78.6% of finance interns have a bachelor's degree. In terms of higher education levels, we found that 11.5% of finance interns have master's degrees. Even though most finance interns have a college degree, it's impossible to become one with only a high school degree or GED.

Learn More About How To Become a Finance Internship

Finance Internship Job Description

Finance internships are done by student interns studying finance or related subjects requiring exposure to financial institutions. Finance interns complete a variety of tasks, for the company, that are often administrative or clerical in nature, and are exposed to projects.

Learn more about Finance Internship Job Description
Top Finance Internship Jobs Near You

Finance Internship Career Paths

In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of finance analyst you might progress to a role such as senior accountant eventually. Later on in your career, you could end up with the title finance vice president.

Finance Internship

Average Salary for a Finance Internship

Finance Interns in America make an average salary of $38,458 per year or $18 per hour. The top 10 percent makes over $52,000 per year, while the bottom 10 percent under $28,000 per year.
Average Finance Internship Salary
$38,458 Yearly
$18.49 hourly
See More Salary Information

What Am I Worth?

salary-calculator

Roles and Types of Finance Internship

The role of a finance internship includes a wide range of responsibilities. These responsibilities can vary based on an individual's specific job, company, or industry.Here are some general finance internship responsibilities:

  • The finance interns will have the opportunity to experience general corporate finance, financial planning & analysis,
  • Works on projects often requiring independent decision-making. These projects are normally scoped to last between 2
  • The fa intern will be an integral part of the program team. Maintain program measurement control systems establish

There are several types of finance internship, including:

Finance Analyst

Role:

You know how it's smart to invest your money? Well, the brains behind that operation is a finance analyst. Essentially, they're in charge of advising and supporting investment decisions of individuals and businesses.

Most finance analysts work full-time, but some work even more than that. The typical finance analyst enters the career having earned a bachelor's degree. With the extra education, employers tend to invest a lot of their dime to pay finance analysts. So having the higher education definitely pays off.

  • Average Salary: $69,887
  • Degree: Bachelor's Degree

Finance Consultant

Role:

You might have taken economics or finance-related courses in college, or you might have a strong grasp of the financial market and the economy. Well, did you know that there are companies that hire consultants to guide them in their financial decisions? Some individuals even hire personal consultants! If you have years of experience and a great track record, this can be a lucrative engagement for you.

Finance consultants are usually those who have been in the finance world for quite a long time. If you are interested in this career, you need to have a good portfolio and an amazing track record. You should know how to manage wealth, and you should be updated with the latest trends in the economy. You also need to have a nice, clean reputation for clients to want to work with you.

If you think this is a good fit for you, you better start networking! This will surely help you get clients in the future.

  • Average Salary: $77,551
  • Degree: Bachelor's Degree

Finance Coordinator

Role:

Finance coordinators work for finance departments and are responsible for managing a company's accounts payable and receivable. They keep track of receipts and financial documents and resolve any issue regarding billing.

If you are considering a position as a finance coordinator, an interest in numbers and analytical thinking are non-negotiable. You will need to handle cash and accounting software proficiently, be organized, and know how to deal with people.

Before you take on this role, though, you will need to have work experience in the financial sector. A degree in accounting, finance, or a related field will also be necessary. You will work in an office and have a dynamic job with multiple tasks to deal with simultaneously.

  • Average Salary: $49,358
  • Degree: Bachelor's Degree
View More

States With The Most Finance Internship Jobs

Mouse over a state to see the number of active finance internship jobs in each state. The darker areas on the map show where finance interns earn the highest salaries across all 50 states.

Average Salary: Job Openings:

Number Of Finance Internship Jobs By State

RankStateNumber of JobsAverage Salary
1California4,690$41,496
2Texas2,483$41,461
3New York2,035$45,189
4Florida1,912$35,351
5Illinois1,573$37,222
6Virginia1,435$35,204
7Pennsylvania1,375$42,916
8Arkansas1,366$37,710
9Massachusetts1,349$40,554
10North Carolina1,222$39,775
11Georgia1,195$34,842
12Washington1,148$35,409
13Oklahoma1,106$34,903
14Michigan1,098$34,067
15New Jersey1,043$35,339
16Ohio974$33,397
17Wisconsin942$34,428
18Maryland941$35,073
19Minnesota915$32,876
20Colorado897$38,093
21Kansas893$40,421
22Arizona805$40,495
23Missouri704$34,708
24Tennessee666$34,899
25Connecticut664$43,804
26Indiana646$32,690
27Utah636$35,609
28Montana604$31,761
29Alabama588$38,063
30Oregon517$33,526
31Iowa460$29,843
32South Carolina409$39,158
33Kentucky407$33,982
34Nebraska342$32,547
35Louisiana339$32,112
36Idaho312$28,964
37Mississippi298$31,336
38Delaware293$43,397
39New Hampshire274$41,186
40Nevada265$40,788
41Maine252$31,333
42Rhode Island232$40,932
43New Mexico228$33,378
44North Dakota200$32,678
45Vermont198$39,219
46West Virginia189$36,263
47South Dakota188$29,249
48Wyoming185$32,886
49Hawaii176$35,393
50Alaska159$29,159

Finance Internship Education

Finance Internship Majors

Finance
29.0 %
Business
25.6 %
Accounting
16.1 %

Finance Internship Degrees

Bachelors

78.6 %

Masters

11.5 %

Associate

5.7 %

Top Colleges for Finance Internships

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition

$55,584

Enrollment

10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition

$54,568

Enrollment

8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition

$56,225

Enrollment

19,548

4. San Diego State University

San Diego, CA • Private

In-State Tuition

$7,488

Enrollment

30,018

5. Boston University

Boston, MA • Private

In-State Tuition

$53,948

Enrollment

17,238

6. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition

$9,625

Enrollment

17,407

7. New York University

New York, NY • Private

In-State Tuition

$51,828

Enrollment

26,339

8. University of Notre Dame

Notre Dame, IN • Private

In-State Tuition

$53,391

Enrollment

8,568

9. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition

$14,760

Enrollment

31,451

10. Stanford University

Stanford, CA • Private

In-State Tuition

$51,354

Enrollment

7,083

Top Skills For a Finance Internship

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 6.4% of finance interns listed risk management on their resume, but soft skills such as organizational skills and customer-service skills are important as well.

Choose From 10+ Customizable Finance Internship Resume templates

Zippia allows you to choose from different easy-to-use Finance Internship templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Finance Internship resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume
Finance Internship Resume

Finance Internship diversity

Finance Internship Gender Distribution

Male
Male
65%
Female
Female
35%

After extensive research and analysis, Zippia's data science team found that:

  • Among finance interns, 35.4% of them are women, while 64.6% are men.

  • The most common race/ethnicity among finance interns is White, which makes up 67.6% of all finance interns.

  • The most common foreign language among finance interns is Spanish at 25.0%.

Online Courses For Finance Internship That You May Like

Advertising Disclosure  

1. Financial Accounting-Adjusting Entries & Financial Statement

udemy
4.5
(619)

Adjusting entry creation, posting adjusting entries to a worksheet, creating financial statements from the trial balance...

2. Financial Accounting Payroll

udemy
4.5
(1,253)

Payroll calculations - federal income tax, social security, Medicare - Payroll journal entries posted to ledger accounts...

3. Financial Accounting Subsidiary Ledgers & Special Journals

udemy
4.4
(432)

Subsidiary ledgers for accounts receivable & accounts payable. Special Journals - Sales journal, purchases journal...

Show More Online Courses For Finance Internship
Job type you want
Full Time
Part Time
Internship
Temporary

Best States For a Finance Internship

Some places are better than others when it comes to starting a career as a finance internship. The best states for people in this position are New York, Connecticut, Delaware, and Pennsylvania. Finance interns make the most in New York with an average salary of $45,189. Whereas in Connecticut and Delaware, they would average $43,804 and $43,397, respectively. While finance interns would only make an average of $42,916 in Pennsylvania, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Delaware

Total Finance Internship Jobs: 293
Highest 10% Earn:
$63,000
Location Quotient:
1.59

$43,397

Avg. Salary

View 293 Finance Internship Jobs In DE

2. Kansas

Total Finance Internship Jobs: 893
Highest 10% Earn:
$53,000
Location Quotient:
2.01

$40,421

Avg. Salary

View 893 Finance Internship Jobs In KS

3. Connecticut

Total Finance Internship Jobs: 664
Highest 10% Earn:
$61,000
Location Quotient:
1.36

$43,804

Avg. Salary

View 664 Finance Internship Jobs In CT
Full List Of Best States For Finance Interns

How Do Finance Interns Rate Their Jobs?

Working as a Finance Internship? Share your experience anonymously.
Overall Rating*
Career Growth
Work/Life balance
Pay/Salary

Top Finance Internship Employers

Most Common Employers For Finance Internship

RankCompanyAverage SalaryHourly RateJob Openings
1Citi$72,094$34.66168
2Ernst & Young$69,862$33.59128
3Merrill Lynch$56,709$27.26276
4Morgan Stanley$55,389$26.63280
5Pwc$49,937$24.01107
6General Electric$48,400$23.27124
7Northwestern Mutual$44,523$21.412,573
8UBS$44,475$21.38170
9New York Life Insurance$43,574$20.9570
10KPMG LLP$42,770$20.5688
Show More

Becoming a Finance Internship FAQs

How Long Does It Take To Become A Finance Internship?

It takes one year or less to become a finance internship. That is the time it takes to learn specific finance internship skills, but does not account for time spent in formal education. If you include the normal education requirements to complete a college degree, then it takes 4 to 6 years years to become a finance internship.

Do Finance Interns Get Paid?

Yes, finance interns typically get paid. It depends mostly on the employer but varies depending on the specific position, geographic location, and experience.

Some internships offer academic credit instead. However, many internships do offer pay with yearly salaries ranging from $26,000 to $47,000. At major companies and firms, the pay can be higher than $80,000.

How Do I Prepare For An Internship In Finance?

To prepare for an internship in finance, you generally need to be enrolled in an accredited university. Most internships require enrollment in a college/university in relevant finance, accounting, or business. Also, university programs typically offer academic credit for internships.

What Skills Do You Need For A Finance Internship?

The skills you need for a finance internship generally are communication, analysis, and management.

A finance internship is typically fast-paced, so you'll want to work efficiently in a busy environment. You'll also want to be familiar with Microsoft Office Suite, such as Excel and PowerPoint. Furthermore, excellent verbal and written communication skills will also be helpful.

Have more questions? See all answers to common business and financial questions.

Search For Finance Internship Jobs

Finance Internship Related Careers

Finance Internship Related Jobs

Finance Internship Jobs By Location

Finance Internship Jobs By Company

Updated April 6, 2023