How Finance Interns Benefit Your Business

Whether you operate in the corporate, public, investment or accounting sectors of the finance industry, there will always be eager and willing workers looking to be a part of your company. The biggest finance companies have found continued success with hiring interns, with this list of Forbes top 10 financial internships showing that the top organisations regularly hire between tens and hundreds of interns annually, and this Financial Times article which claims that Internships are “the key to a job in financial services”. According to the statistics from the National Association of Colleges and Employers Internship & Co-op Survey Report 2014, employers made full-time offers to 64.8 percent of their interns. If you’re not yet convinced, here are a few more reasons why recruiting a financial intern is worth your while:

Try before you buy

Interviewing one person only a handful of times before signing the contract for a permanent position brings with it many risks, so think about hiring an intern; their internship serves as an ‘extended interview’ or preliminary probation period where you can truly discover how fitting they are for a role and just how they can benefit your business.

Academic Knowledge

They’re fresh out of college (or even still in University) and excited to prove themselves in the industry; Economics, Business, Marketing and all the other financially-qualified students and graduates are ready to take your business to the next level. Their lack of experience in a practical setting, which will rapidly grow through an internship, is made up for with their studious knowledge.

On-Campus Promotion

Hiring interns regularly promotes your company among student and graduate circles, ensuring you have a pick of the best candidates whenever you need. This is especially true when your interns are paid well. Intern Avenue is the leading platform which connects top graduates and intern-seekers with paid internships, so join today or speak to a member of our team for information about memberships.

Protecting your company when the next financial blip comes along

You know it better than any of us – finance can be a very turbulent industry, but forward-thinking companies keep their intern programs going strong in the interest of future progress and brand promotion.

Mark Kolakowski, Financial Careers Expert, states that, “far-sighted companies with the best internship programs keep them intact even in periods of retrenchment, hiring freezes and layoffs…thus, when the financial services industry enjoys its next boom, having kept the firm’s name high in student consciousness during the lean times will promise a continued supply of quality recruits when hiring picks up again.”

Increase productivity, save money

Interns typically have lower salaries than full-time staff, and are highly motivated workers with great perspectives and ideas. Moreover, freeing up your full-time staff from entry-level tasks leaves them free to focus on the jobs that require high levels of financial expertise. Win-win!

So, what makes a good internship?

Brian O’Connell’s “What To Expect From A Financial Internship” article outlines the Signs of a Good Internship Program, which include:

  • A direct internship coordinator, whose full-time job is managing interns
  • A written blueprint from the company explaining its policy toward interns and its goals in its internship program
  • An emphasis on challenging – and not menial – work.
  • Opportunities to mingle with, and learn from, staffers and management at meetings, seminars, company dinners and training sessions on a regular basis
  • An opportunity to speak with former interns at the financial services company, to get their perspective on the internship experience

With all the signs pointing towards hiring a financial intern, make today the day you find your future employees, and advance your business in the financial sector. For more information on hiring interns, visit www.internavenue.com 

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