Ben joined JPMorgan's Real Estate Investment Banking team in Australia in February 2006 after completing a 10-week internship with the bank over the 2004-05 summer. This was Ben's second last year of his Law degree with the University of Technology, Sydney. He already had a Bachelor of Commerce from the University of New South Wales and work experience with a high-street solicitor.
What made you apply for an internship?
I had a choice between applying for a bank internship or a law clerkship. I didn't know exactly what an investment bank did, but I knew I wanted to work for an international company that was well respected. Law firms were slow off the mark: they were still interviewing when JPMorgan made an offer. In addition, I could use both my law and commerce training with the bank.
Tell me about the internship.
The property team I now work in was formed during 2004 and had been together for only a few months when I started my internship. This made my induction easier as I was not the only new guy in the team. By the time I re-joined in 2006, it had become one of the best investment banking teams in Australia, as shown in the league tables. My internship was a very busy time as the team worked hard to establish a brand name in the market place. As an intern I was an extra pair of hands, but because the team was starting up and establishing its name, there was real work for all of us. What I do now as an analyst I did then, but without carrying as much responsibility.
How did the internship benefit you?
An internship is like a 10-week interview. The bank gets a really good look at how you work and fit in, and you get a really good look at it and at yourself. It was steep learning, but it showed me what an investment bank does, how markets work and how deals and debt are sourced. Although the team was new and establishing itself, I was mentored and supported in my work. There is always an analyst to guide and help you with anything you need, so you learn by actually doing the work, but in a supported environment. It confirmed for me that I wanted to work in real estate, and with JPMorgan.
Ben's tips:
- Research who you'll be working for. Look at the achievements of the people running the bank.
- An internship lets you make an informed career decision ñ you really learn how an organisation works, its culture, and whether it suits you.
- An internship gives you a competitive advantage for your future career.
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