2012 Summer Internship Information Pack
INSEAD Career Services
Agenda
• Introduction
• Pros & Cons
• Statistics
• Sector specific information
• How did they find it?
• Quotes from former students
• Work permits
• Summer Internship process
• What should you be doing?
Introduction
What is a Summer Internship?
A job/project typically lasting 6-8 weeks in the July - August break.
Is it essential to do one?
No but there are advantages for career changers and for those interested
in working for Investment Banks.
How do I find one?
Look at job postings to MBAs, participate in the On Campus Recruitment
(OCR) and/or proactively approach companies.
Are Internships paid?
The vast majority are paid. Career changers occasionally do un-paid
projects to build CV.
Pros & Cons
Most Appreciated
Exposure to a new sector / industry
Know a company and its culture
Opportunity to work in a new country
Apply many of the concepts learnt at
INSEAD
Develop my professional network
Adds relevant functional or geographical
experience to CVs for career changers
Earn money!
Least appreciated
Lack of structure
Very long hours
Not Challenging enough
Low salary
Takes up most / all of the long break
Statistics*
* Based on a survey response rate of 98%
Had a summer
Internship in
2012
60%
Did an internship
outside their
home country
74%
Average
duration
7 weeks
Had the
opportunity to
travel
31%
Average
monthly base
salary
€ 4400
€ 4400
Wanted to work
but did not find
a job
11%
Statistics*
* Based on a survey response rate of 98%
Worked with a
new company
Had a full-time offer
a the end of the
Summer
22 %
likely to receive one
96%
56%
Functional area
25 % Finance
22 % Consulting
16 % Business Development /
Corporate Planning
€ 4400
11 % Marketing
5 % General Management
4% Production/Operations
Management
4 % Sales
Found the
experience useful
Had a mentor
46%
98%
13% Other
Accepted the
offer
21%
Statistics* – Geographic split
* Based on a survey response rate of 98%
Eastern
Europe 3%
Southern Europe
2%
Asia Pacific 37%
Breakdown
• Singapore 54%
• China 14%
• India 10%
• Australia 4%
• Korea 4%
• Thailand 4%
• Japan 3%
• Other 7% (Cambodia,
Western Europe
43%
Breakdown
• UK 53%
• France 19%
• Switzerland 10%
• Germany 8%
• Belgium 5%
•The Netherlands 5%
Indonesia, Korea, Mongolia,
Philippines, Samoa, Thaïland)
Africa/Near Middle
East 6%
South America 5%
North America 4%
Which Sectors offer Summer
Internships?
Breakdown
Corporate
Sectors
45%
Finance
34%
• Banking 51%
• Private Equity 17%
• Venture Capital 15%
• Asset Management 8%
• Financial Services 4%
• Insurance 3%
• Real Estate 2%
Consulting
21%
Breakdown
• Energy 17%
• High Tech / Telecommunications 17%
• Consumer / Luxury Goods 13%
• Healthcare 11%
• Public Sector / Social Impact 11%
• Manufacturing 11%
• Travel Leisure Services 7%
• Primary Industries 5%
• Media & Entertainment 4%
• Corporate Services 2%
• Advertising 2%
Sector Specific Information
Finance
Companies who employed 3 or
more interns in 2012
•
Actis
•
BMO Capital Markets
•
Citi
•
Credit Suisse
•
Goldman Sachs
•
HSBC
•
Itau BBA
•
JP Morgan
•
Morgan Stanley
•
Rothschild
•
Standard Chartered Bank
• Dominated by I-banking - Summer
Associate Programmes
• Main thrust of recruitment in January /
February
• Previous finance experience not
always necessary
Sector Specific Information
Corporate Sectors
Companies who employed
3 or more interns in 2012
•
Becton Dickinson
•
Centrica
•
Danaher
•
Google
•
Groupon
•
Johnson & Johnson
•
Medtronic
•
Rocket Internet
•
Shell
•
Solar Energy Research
Institute of Singapore
•
Syngenta
•
Yama.com
• Depending on companies, structured
internship recruitment or only ad-hoc projects
• For many Industries average project length 1012 weeks. Some can be shortened to
accommodate INSEAD candidates
• Networking is also very useful and can help
you find a summer project with a company you
are particularly interested in
• Full time offer after successful internship
depending on job openings (most companies
do not have a structured follow-up process)
Sector Specific Information
Consulting
Companies who employed
3 or more interns in 2011
•
Bain & Company
•
Booz & Company
•
McKinsey & Company
•
Monitor Group
•
The Boston Consulting
Group
• Summer Internship opportunities vary each year by
company/office
• Timing and length of availability can be a challenge
(i.e. majority of European offices slow-down for
August and/or INSEAD max 6-8 weeks) this may
mean fewer consulting internships
• Internships are not crucial to find a job in Consulting
but will help you learn about the sector and
demonstrate motivation for the sector
• If you feel you are not prepared to do well in
consulting internship search process you may
consider other internships or projects for the summer.
You can still recruit for full time positions in the fall
even if you chose not to interview for internships or
were not successful in the internship recruiting
process.
How did they find it?
62% Career Services (OCR, job postings..)
17% Personal Contacts
5% Direct Approach to company
6% INSEAD Alumni
4% Former Employer
6% Others (Clubs, MBA Exchange, Faculty…)
Quotes from former students
Internship is
undoubtedly
indispensable for
career changers
It was very useful in
understanding what
working in industry
is as opposed to
consulting my
background
Whoever is seeking a
career in corporate
finance advisory should
be mindful of the long
hours that you would be
expected to work for.
Nonetheless, I do not
think that there are
similar learning
experiences
concentrated in such a
short time period.
It was a fantastic
experience to
discover what
consulting is really
about.
An incredible
experience,
exposure,
contacts and
also travel
opportunities.
It gave me some
insights into
investment banks
and it is unlikely that I
would want to have a
career there!
It helped me
build a network
in the company
to explore
more chances
Work permits
21% of students needed a work permit
87% employers obtained papers
•
•
•
•
•
Advice from past students
Apply early to ensure enough time to obtain working papers
Sell your skills & experience to prove that they really need you
Use the alumni network for advice
Talk about the subject upfront with the company, do not wait for
the last minute
• Research. Be aware of the work permit restrictions when you
apply for a given country, and try to know the process of work
permit application before the interview
Note
• Students based in Singapore
in P3 do not need a work
permit for internship in
Singapore
• Students based in France
who wish to work in France:
Students with a French
student visa have the right to
work in the summer (20 hours
a week)
Process starts in November in
Asia and January in Europe
November/ February
March/June
Banking:
1st Asian deadlines – Nov/Dec
1st European deadlines – early Jan
Other: Target sectors/companies
IB Internship Campaign:
- Networking events mid January
- First round interviews: 21 Jan - 1 Feb
(on campus)
- Second round interviews 28 Jan – 7 Feb
(on campus)
Continuing process for
Internships through oncampus recruitment
(mainly Consulting and
Industry, details to be
announced)
Job Postings
Off-campus events
SUMMER INTERNSHIP
Prepare CV and letters
July/August
What should you be doing?
Now
Work on draft CV & cover letter
(please note that this doesn’t
have to be INSEAD format)
Research target
companies/sectors you might like
to work for
If you are interested in a Career
in Finance, read the Finance
page of MBA Connect
When you arrive on campus
You should attend
Workshops for guidance on
CVs, cover letters & interviews
Investment Banking training e.g
alumni panels
Recruitment events
Remember to watch out for new
openings in Careerlink!