A Summer Analyst is an intern in finance, hired temporarily in a bank, usually for three months. Summer analysts are usually students at the end of their junior year who invest their summer months in gaining experience in financing.
As a Summer Analyst, you will assist in full-time analysts' work with performing simple tasks, such as preparing coffee or entering data. Working as a Summer Analyst will pave your way to getting hired at an investment bank or financial institution, often at the same place as your internship, after completing your studies.
As an investment analyst, you are required to work a whopping 80-100 hours per week, which applies to interns. As compensation, you will receive the payment an average analyst takes home, which is around $70,000 a year. For receiving bonuses, on top of that, you will have to wait until full-time employment.
There is more than meets the eye when it comes to being a summer analyst. For example, did you know that they make an average of $39.6 an hour? That's $82,373 a year!
Between 2018 and 2028, the career is expected to grow 6% and produce 20,300 job opportunities across the U.S.
There are certain skills that many summer analysts 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 computer skills, math skills and analytical skills.
When it comes to the most important skills required to be a summer analyst, we found that a lot of resumes listed 13.1% of summer analysts included financial statements, while 8.4% of resumes included capital markets, and 8.0% of resumes included private equity. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the summer analyst job title. But what industry to start with? Most summer analysts actually find jobs in the finance and technology industries.
If you're interested in becoming a summer analyst, one of the first things to consider is how much education you need. We've determined that 80.5% of summer analysts have a bachelor's degree. In terms of higher education levels, we found that 16.9% of summer analysts have master's degrees. Even though most summer analysts have a college degree, it's impossible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a summer analyst. When we researched the most common majors for a summer analyst, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on summer analyst resumes include doctoral degree degrees or high school diploma degrees.
You may find that experience in other jobs will help you become a summer analyst. In fact, many summer analyst jobs require experience in a role such as internship. Meanwhile, many summer analysts also have previous career experience in roles such as research assistant or finance internship.