THIS IS A TESTIMONIAL FROM A PAST ALUMNIATHLETE WALL STREET INTERN:

I began a little before 5:30 each morning. I picked up the WSJ on my way out of my NYU dorm each morning and scanned the paper for news about the credit markets. We were instructed to read several important columns each morning, in addition to any relevant mentions of my bank.

By 5:45 I was at the desk, printing out the morning’s trade recaps and early market commentary so I could have them on each trader’s desk by 6:30. As those copied I caught up on email and began the long task of skimming through the hundred plus PM recap and AM previews that get sent out firm wide over email. Having a knowledge of the day’s markets from these emails and the WSJ was important so I could be ready to answer any quiz questions the traders threw at me.

Fixed income markets differ from equities in that there is no exchange. Thus, there are no market hours. Trading can start as early as 7:00 AM and close as late as 6:00 PM, depending on the day’s news.

After distributing the morning reports I helped answer calls until the 7:15 morning call. During that 20-30 minute call I was expected to closely follow along so I would be able to keep up with the key trading axes throughout the day.

Most mornings I would remain glued to my desk from about 7:45 to 10:00, during the busiest hours of the trading day. Calls were constantly ringing and we were expected to answer them promptly. A good intern does more than just answer the phone. He is able to direct the call to the proper trader even when a caller does not know who trades the specific bond they are looking to do.

Throughout the morning we were also responsible for putting together the desk’s daily reports. We would go around to various traders collecting data and then compile it all into spreadsheets which were then emailed out. A good intern is an adept troubleshooter, able to help trader’s with any

By 10 or 11 most sectors would have quieted down. I then would go sit with different people on the desk, trying to understand exactly what had drove their markets. I’d try to keep up with market levels via Bloomberg, but speaking to the traders directly is very helpful. They are very eager to help us once things slow down. Interns must be very tactful when asking to sit with something. The timing must be right.

Most days around noon I’d collect lunch orders and make a run. It was a great way to try new places around downtown and get some fresh air.

After lunch I often spent time reading the mid-day market emails and doing some online learning. The Fabozzi guide to Fixed Income was a very helpful, and encouraged, way to learn the markets. I compiled weekly summaries of what I had learned to show the desk I was making the effort to go above and beyond my daily work.

Many afternoons were spent visiting different desks to learn their markets. We were encouraged to develop connections at other desks so we could gain a broader exposure to the business. Often times I pulled up a chair next to someone I had met in a different area and just watched what they did. When their market quieted down I’d ask questions and be sure to write down what I’d learned.

The trading normally quiets down a little after 5:00. At this point, traders begin wrapping up their day and making sure all of the trades were booked properly. Interns spent that time preparing for the next morning’s work and catching up on email. A large part of an internship is networking through email, both with fellow interns and firm professionals.

Many nights were occupied by different networking events. These were often the most fun highlights of the summer. Alumni Athlete and my firm each organized many events at various cool places around NY. Great way to discover the city and make some valuable connections! As the summer progressed a bunch of informal work activities came up at night. Whether it was desk drinks, dinner with a mentor or boss, or just getting to know other interns, most nights had some type of activity. It is sometimes tiring, but always a great time.

*For more information on the AlumniAthlete Wall Street Internship please refer to the AlumniAthlete Network on Gotta Mentor