Based on recent jobs postings on Zippia, the average salary in the U.S. for a Finance Internship is $34,658 per year or $17 per hour. The highest paying Finance Internship jobs have a salary over $46,000 per year while the lowest paying Finance Internship jobs pay $25,000 per year
A finance analyst is responsible for evaluating a company's financial data and historical reports to assess investment opportunities and provide accurate financial statements in support of business strategies and company performance prediction. A financial analyst's duties also include suggesting recommendations to boost operations efficiency and grow revenues, researching the current market performance and economic trends to adjust budget goals as needed, and managing client portfolios. Finance analysts must have excellent critical and analytical thinking skills to identify the best actions for the company's profitability.
Staff accountants are employees who are part of the company's accounting department. They are usually certified public accountants (CPAs). Staff accountants should be familiar with accounting tasks. Previous accounting experiences play a huge advantage in their success. They perform a variety of accounting responsibilities such as information verification and analysis, financial report preparation and presentation, financial account reconciliation, billing and payment receiving activities, vendor database management, and invoice processing requirements. They should also know how to do bookkeeping. Staff accountants should have good communication skills, analytical skills, and decision-making skills. They should also be organized and trustworthy since they will be handling confidential information.
Analysts are employees or individual contributors with a vast experience in a particular field that help the organization address challenges. They help the organization improve processes, policies, and other operations protocol by studying the current processes in place and determining the effectiveness of those processes. They also research industry trends and data to make sound inferences and recommendations on what the company should do to improve their numbers. Analysts recommend business solutions and often help the organization roll out these solutions. They ensure that the proposed action plans are effective and produce the desired results.
Consultants are individuals who were tapped by a company or an organization to work on a specific activity, depending on their field of expertise. They act as guides for the organization in undertaking projects that are related to their field. Consultants would usually assist organizations in planning, often giving advice when the need arises. They would, at times, take the lead in activities that involve data gathering and interpretation of data gathering results so that they can provide solid recommendations on actions that the organization may undertake. They may also guide the organization in implementing any changes brought about by their consultancy and in evaluating the effectiveness of the changes.
Business analysts are employees who are responsible for interpreting business data and coming up with business solutions. They are well-versed in whatever business the company is in, and they have strong business acumen. They collect data related to the business and then interpret and analyze the data. Business analysts should be able to conduct different levels of analyses and must also be able to create a sound study. Once the analysis is done, they provide recommendations or strategic direction to decision-makers that will help the business become sustainable and grow.
No, you cannot make $100,000 per year as a finance internship. It is highly unlikely to earn over $100k because the average annual salary for a finance internship is $34,658. Even finance interns in higher-paid positions do not typically earn more than $46,000 per year.
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.
A finance intern should learn how to apply what they're learning in the classroom to the real world. Typically, a finance intern will have a range of duties from analysis and project management to coordinating presentations and compiling analytical data.
The best company for an internship in finance is Evercore.
Evercore has been named the #1 Investment Banking Internship for their summer associates and analysts for the last three years. They can offer other perks as well. According to a summer 2022 offer letter, Business Insider reported that Evercore interns received a bonus of $2,500 for accepting within one week and received a special payment of $7,500 within a month.