22 Jan 7 Skills You Need for a Finance Internship
Finance is one of the world’s largest sectors, and there is a wide range of roles under it—analysts, investors, bankers, etc. As of December 2024, the industry employed over 9.2 million people in the U.S. alone.
While there is a surplus of job openings in finance—more than half a million, to be exact—it’s not just you who’s looking into a career in the field. In fact, a good majority of Gen Z also prefer a career in finance. Competition is bound to be high, and you need to stand out if you want to make it through. An impressive finance internship (and ideally, a glowing recommendation from your supervisor) can really give you that edge.
You might be asking: if internships are for learning, how can you already be prepared? Don’t worry—we’re not saying you need to be an expert. Having a handful of basic skills, like handling simple finance tasks and working well with others, can make a big difference. So, what exactly are the skills you need to excel in a finance internship?
Before we dive into that, let’s look at what a finance intern typically does.
What does a finance intern do?
As mentioned earlier, finance covers a broad spectrum of roles. There’s investment banking, corporate finance, accounting, risk management—the list goes on. In order to have a well-rounded understanding of the industry, finance interns are usually tasked with diverse responsibilities.
Here are five common tasks that finance interns work on:
Analyzing financial data
Interns may review and analyze data to identify trends and insights by assessing market conditions, company performance, or investment opportunities.
Preparing reports and presentations
Creating financial reports and presentations for meetings may be a key responsibility for interns, from compiling financial results to developing slides.
Supporting budgeting and forecasting
Interns may be tasked to assist in preparing budgets and forecasts by gathering data, organizing spreadsheets, and analyzing financial models.
Handling accounting work
Accounting is a vital component of finance. Interns may process invoices, manage accounts payable/receivable, or assist in audits.
Conducting market research
Interns may study market trends, competitor performance, or industry developments to support decision-making within the team.
These responsibilities highlight the variety of basic skills needed to succeed in a finance internship. Now, let’s explore these in more detail.
What skills do you need for a finance internship?
Several skills are expected from a finance intern. We picked out 7 that we recommend you to focus on, in order to excel in your internship:
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- Knowledge on spreadsheets
- Understanding of financial principles
- Data analysis
- Communication
- Attention to detail
- Time management
- Problem-solving
Below, we will explain each of these 7 key skills and share a few tips that can help you during your finance internship.
Knowledge on spreadsheets
In the finance world, being proficient with the most common spreadsheets like Microsoft Excel and Google Sheets is a must. Spreadsheets help you stay organized, automate calculations, and even perform complicated analyses.
You will likely use a spreadsheet—or something similar—to manage data and generate reports. The better you understand how to use these tools, the more efficient and effective you’ll be during your internship.
Pro-tip on Excel for soon-to-be finance interns: Take the time to get comfortable with Microsoft Excel and its more advanced features, such as pivot tables, lookup, and macros. Many interns also benefit from learning commonly used Excel functions and formulas in the industry of finance, like VLOOKUP, NPV (which stands for net present value), and SUMIF. Understand these functions better through online tutorials, or by using them on your own.
Understanding of financial principles
A good grasp of basic financial principles is the foundation of not just a successful internship, but a soaring career in the industry. If you want to excel as a finance intern, you’ll need to understand concepts like budgeting, forecasting, financial statements, and investment analysis.
You’re not expected to be an expert, but knowing the essentials will make it easier for you to follow discussions and understand your assignments. This also makes sure that you’re not just completing tasks but adding value, too—and your supervisor will definitely appreciate that.
Tips on building your financial knowledge:
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- Familiarize yourself with metrics like ROI, EBITDA, and profit margins.
- Review financial statements such as balance sheets, income statements, and cash flow statements.
- Take free online courses or watch tutorials to better your understanding of financial principles.
- Check out industry news to see how these principles are applied in the real world.
Data analysis
Data is the backbone of decision-making in the finance sector. As an intern, you will likely work with large sets of numbers, spreadsheets, or reports. From there, you will identify patterns and trends, then analyze them. Strong analytical skills help make sense of this data and turn it into insights and recommendations—which are needed in coming up with good business strategies.
To sharpen your data analysis skills, familiarize yourself with financial modeling and common analysis techniques. Learn the difference between horizontal and vertical analysis, as well as leverage and growth analysis. Practice reading financial statements, calculating ratios, using Excel formulas, and finding meaning in numbers.
Going into your internship with these technical skills up your sleeve can make your experience a whole lot easier.
Communication
It’s not enough to just crunch the numbers—you also need to explain your data. You may be tasked with writing reports, creating presentations, or discussing insights with other departments (or clients, even). This is where strong communication skills, both written and verbal, can come in handy.
Good communication ensures that your findings are understood and acted upon. Whether you’re presenting to managers, working with team members, or preparing content for clients, you will need to articulate your points clearly.
Tips for effective communication:
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- Work on simplifying your explanations of complex financial topics.
- Practice presenting your findings in a clear, organized manner.
- Learn to differentiate the way you talk to someone who knows their finance technicalities, and someone who has no background in the field.
- Keep your reports or emails straightforward and jargon-free.
Attention to detail
In finance, accuracy is everything—it’s a numbers-driven industry where the smallest error can lead to the biggest consequences. Something as simple as a misplaced decimal or a wrong math operation can seriously affect a company’s financial outlook.
This is why attention to detail is one of the most important skills you’ll need to develop. As a finance intern, you may be responsible for reviewing financial documents, entering data into forms and spreadsheets, or making sure that calculations are accurate.
Our simplest but most effective tip to avoid making mistakes is to always double check your work. Be meticulous. Review your work over and over to ensure everything is correct before submitting it.
An extra tip: Take a break after working on a task, then return with a fresh set of eyes to catch any errors.
Time management
Balancing multiple tasks is common during internships. In finance, deliverables usually come with strict deadlines because it’s a fast-paced industry. Trust us when we say that staying on top of your workload can make or break your finance internship experience.
Time management skills are crucial. Being good at organizing your tasks and prioritizing can help you a lot in meeting deadlines. And remember, you need to be able to do these without compromising the quality of your work!
Tips and tools to help with time management:
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- Break larger projects into smaller tasks to feel less overwhelmed
- Set realistic timelines for each task
- Prioritize high-impact tasks first, and allocate specific times of the day for each
- Use time management or project manager tools like Trello, Asana, or Airtable
Problem-solving
Not to scare you, but finance is full of challenges—there’s balancing budgets, and then there’s resolving data discrepancies, to name a few. Your ability to think critically and solve problems efficiently can bring a lot of value to a company, potentially making you an outstanding intern.
Problem-solving is not just about fixing issues, though. It’s about taking on challenges with a logical and proactive mindset. Supervisors value interns who can remain calm under pressure, analyze situations thoroughly, and deliver effective solutions.
If you want to become an intern with strong problem-solving skills, try these four steps:
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- Stay calm—avoid rushing to conclusions.
- Break down issues into smaller parts to identify the root cause.
- Brainstorm multiple solutions and weigh their pros and cons before deciding on the best approach.
- Look from different perspectives and get more insights by working with team members.
Now that you know the skills needed to excel in a finance internship, it’s time to take the next step: landing one.
How do I get an internship in finance?
Securing a finance internship starts with building a strong application. Highlight all the relevant skills you honed, your academic achievements, and your passion for the industry. Reflect these in your resume, cover letter, and during the internship interview.
Meanwhile, Absolute Internship can help you find the perfect finance internship tailored to your goals. With guaranteed placements, 24-hour onsite support, and a network spanning cities best for a financial career such as Hong Kong, London, and Tokyo, we make your internship journey seamless and highly rewarding.
Apply now to kickstart your finance career and gain invaluable experience!
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