A summer associate is responsible for building on the existing knowledge of industries to derive insights into sector trends, emerging technologies, and company performance. They support the senior leadership team in developing partnerships and investment strategies to support the commercialization of promising technologies and solutions. They also help evaluate companies' growth for their fit in the company's objectives, business model, financials, and commercialization/investment potential.
Further duties include assisting in maintaining high-quality financial models to support all aspects of analysis, working with a team to synthesize concise and well-supported recommendations for presentation to the network and other allies or capital partners, supporting the team in leading meetings and calls with network members, growth companies, investors and others.
A summer associate should have the following skills: being a proactive team player in a fast-paced entrepreneurial environment, excellent strategy, problem-solving, time management, organizational skills, the ability to prioritize and multitask, excellent communication skills, and team project and client management skills. As a requirement, they should be enrolled or have a bachelor's degree in law. They earn an average salary of $40,170 per year, which translates to $19.31 per hour.
There is more than meets the eye when it comes to being a summer associate. For example, did you know that they make an average of $18.45 an hour? That's $38,374 a year!
Between 2018 and 2028, the career is expected to grow 12% and produce 39,000 job opportunities across the U.S.
There are certain skills that many summer associates 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 communication skills, computer skills and organizational skills.
When it comes to the most important skills required to be a summer associate, we found that a lot of resumes listed 14.6% of summer associates included powerpoint, while 10.6% of resumes included financial models, and 5.8% of resumes included due diligence. 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 associate job title. But what industry to start with? Most summer associates actually find jobs in the professional and finance industries.
If you're interested in becoming a summer associate, one of the first things to consider is how much education you need. We've determined that 67.9% of summer associates have a bachelor's degree. In terms of higher education levels, we found that 11.1% of summer associates have master's degrees. Even though most summer associates 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 associate. When we researched the most common majors for a summer associate, we found that they most commonly earn bachelor's degree degrees or doctoral degree degrees. Other degrees that we often see on summer associate resumes include master's degree degrees or associate degree degrees.
You may find that experience in other jobs will help you become a summer associate. In fact, many summer associate jobs require experience in a role such as internship. Meanwhile, many summer associates also have previous career experience in roles such as legal extern or law clerk.