THIS IS A TESTIMONIAL FROM A PAST ALUMNIATHLETE WALL STREET INTERN

Prime brokerage provides financing, technology, and client services to hedge funds. Some of the typical services include stock loan (lending hard-to-borrow stocks to hedge funds for shorting purposes), arranged financing (leveraging hedge funds so they can enhance their returns), and co-location services (a back-up computer system that stores data and allows a hedge fund to continue to function in the case of an emergency).

My typical day is as follows… Work begins around 6:45am; five minutes before anyone else in my group arrives. From 6:45am-7:05am, I respond to any e-mail that may have surfaced after I left the office the previous evening. I also print out documents that I need for my 7:10am equity research meeting. At the equity research meeting, I take notes for my desk on all of the updates driving the equity markets. From the equity research meeting, I make my way to the fixed income sales meeting, and again take notes on events driving the fixed income market.

Usually, I return to my desk around 8:15am and immediately check my e-mail (you can never check your e-mail often enough). I respond to e-mails from my desk, and begin completing any task that needs to be done for the day. Everyday, there is a new project to be done. Most projects require me to import data into excel sheets from Bloomberg, and aggregate the data to produce charts and graphs that add value to our clients. This work can sometimes be mundane, but there are a lot of conference calls and client meetings to break-up the morning.

The bank usually provides lunch, and a senior manager comes to speak to all of the interns about his/her experience in the industry and the product that he/she trades/sells. The lectures are pretty informative and most of the managers are accessible for questions later in the day.

At 1:30 pm, I return to my desk and check my e-mail for any new pressing projects. After responding to new e-mails and doing more work, I try to set-up meetings with other desks in the office. My group is very cool about letting me sit down with other groups and learn about their financial products, and I try to do this for an hour at least once a day. After sitting down with another desk, I return to my desk, check, my e-mail, and then make a Starbucks run for my desk. Coffee runs are pretty standard at any bank, and I actually look forward to them because they allow me to get out of the office for a bit. When I return around 3:30-4 o’clock, I check my e-mail again, and finish up any last minute tasks for the day before heading to another bank for appetizers and drinks at an Alumni Athlete event.


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