Here's how you can enhance your financial modeling skills with a Corporate Finance internship.

A Corporate Finance internship is a great way to get better at financial modeling. You'll work on real projects and learn from experienced people. Use the tools that real companies use. Ask lots of questions and don't be afraid to make mistakes - that's how you learn. The internship will help you become better at important skills like communicating clearly, working as a team, and solving problems. Go into it with an open mind, a desire to learn new things, and a willingness to work hard. The hands-on experience and insights you gain will be very valuable as you start your career in finance.

With absolutely no disrespect to my college professors, I learned more in the first four months of my career than I learned in four years at university. The real-world scenarios that you will model in FP&A, coupled with the guidance of experienced professionals who understand the unique aspects of their business will help you grow your mind and your skill set immensely. Focus on learning how to find the right questions in each scenario. If given the opportunity for an internship at a company with a strong accounting and finance team, I advise students to jump at the chance! Look for someone willing to mentor you along the journey.

Hands-on Practice : Build real models, not textbook examples. Apply financial formulas and functions in a practical setting. Learn from Experts : Observe senior analysts navigate complex models. Ask questions and gain insights from their experience. Software Expertise : Master financial modeling software like Excel or specialized platforms. Gain comfort with shortcuts and functionalities. Data Analysis : Source, clean, and manipulate financial data for model inputs. Develop critical thinking to interpret results. Bonus: Network with colleagues and build relationships. This can lead to future opportunities and valuable industry knowledge.

In addition to finding someone technical, it's important to have a mentor who cares about spreadsheet governance, i.e. best practices that help with model integrity and reduce the risks during model build, model operation, and model updates. As a model reviewer, I would often find errors (or calculations with potential for error in certain circumstances) from "experienced" modellers. Unfortunately quantity of experience will not equate to quality.

Picture this: You're on an internship, thrown into the deep end of financial analysis. But here's the twist - you're wielding tools like Excel and Capital IQ like a wizard. Advanced functions, macros, and a sprinkle of programming magic to automate tasks. Suddenly, those daunting financial models are not just numbers; they're your playground. But why stop there? This isn't just about making your life easier (although, who doesn't love a good shortcut?). It's about precision, efficiency, and accuracy. The trifecta of skills that can make or break a career in finance. Now, imagine walking into your next role or interview armed with not just theoretical knowledge, but a proven track record of applying these skills in real-world scenarios.

Absolutely, proficiency in financial modeling software is crucial in corporate finance roles. Internships provide valuable hands-on experience with industry-standard tools like Excel and specialized software such as Capital IQ. Mastering advanced functions, macros, and even programming for automation can significantly improve the accuracy and efficiency of financial modeling, which are highly sought-after skills in the finance industry.

As I have progressed in my career, mastering new or more advanced content in Excel and gaining experience with new software packages has been both beneficial and fun. Also, I have noticed that interns are coming into their work experience with greater skills in new technologies than their predecessors. That’s a good thing! Please count the opportunity to gain real-world experience with these tools during your internship as a chance to excel at your future craft. Take advantage of the experience of those ahead of you in their career paths while you are there. If you do, you will be better prepared to tackle the changes and challenges that you encounter throughout the rest of your career by getting the early start with technology.

I agree with the introductory statement about analytical thinking, and a key piece of advice not mentioned: Focus on learning how to build a simple, repeatable modeling process. Provide enough to answer the question, but keep it neat and easy to follow. Always ask yourself if the user of your analysis will be able to make good decisions based upon your product. To know what “done” looks like, ask yourself this: Can I walk an executive through the model in simple terms, within 30-60 seconds, and have them understand what I am presenting?

The most essential part of doing an internship is that you build analytical thinking. Classrooms and textbooks only teach you the theories and tools. However, through an internship, you experience the real financial world, where you need an excellent analytical mind. In the internship, you get to make mistakes and experience real-life challenges faced by companies. You get supervision and feedback, which helps you understand how finance people think and how they solve problems.

Internships aren't just about resume building. They're your gateway to an incredible network within the industry. Imagine this: working alongside pros, gaining insights from meetings, and building relationships that can open doors for your future career. These connections are invaluable. They can lead to exciting job offers, mentorship opportunities, or even future collaborations. When I started my internship at EY, that was the catalyst of my entire career and invaluable experience and ultimately landed me a full time role at EY. So, whenever, however and whoever I had to curiously learn whether its an internship, apprenticeship or full time role take it. My favorite ABC over my career, Always Be Curious.