Investment Banking / Finance Summer Internships 2024/2025

Job Opportunities Australia
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A thread for all investment banking summer internship opportunities for 2024/2025

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Hi noticed that BOFA has investment banking, capital markets, and global markets. Does anyone know the difference?

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So capital markets (cm) sits inside the investment banking division (IBD), and is private side - which means deal work, whereas global markets is sales and trading, which is sell side public.

What that means in terms of the work, is that investment banking (IB) and CM is more project M&A work. Technically CM and IB work together, but the difference between the two is in the type of work they do.

CM is made up of equity capital markets and debt capital markets. So by name, equity capital markets work on share buybacks, private selling on secondary markets, and debt capital markets is like bond issuances / auctions.

IB is more primary market, so advisory and capital raising.

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wow thats really indepth thank you!

Would you know the pros and cons of each of them?

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I can’t speak too much on CM or IB given that my experiences lie in markets, but in terms of markets:

PROS:

  • work is really diversified - it depends on what team you end up in
  • work interesting, actual technical work
  • good pay: ~150k base in the first 2 years + 55/65k bonus, ~180k base + 100k bonus and accelerates from there
  • hours are good especially from like a money: wlb: hours basis - start around 7am finish 5pm so same hours as actl
  • wlb- you have all your weeknights

CONS:

  • work is really diversified - it depends on what teams you end up in
  • early start
  • exits aren’t heaps good- like very team dependent again, but can stay in asset mgmt
  • trading

Again, this is super subjective so I would recommend getting more insights from other markets graduates.