Spring Week Participant Review
at Bank of America
Insight / Vacation Scheme (< 4 Weeks)
Investment Banking
London
Review Submitted: August 2022
Overall Rating
4.1 /5
The Overall Rating is the average of all the ratings given in each category. We take those individual ratings and combine them into one final score!
4.5/5
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Overview of Experience
4/5
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Skills Development
4/5
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Company Culture
4/5
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Overall Experience
4/5
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Recommendations and Advice
Overview of Experience
Please give an overview of the insight and what was involved on a day-to-day basis.
I was given exposure to all aspects of the Bank and its divisions, including investment banking, trading and sales, asset management. This gave me a insight into the different areas of the bank and how they work, both individually and together. We were given shadowing opportunities, networking opportunities and workshops. This made for a really positive experience where we were able to learn whether a career in investment banking at BAML or elsewhere is for us.
What was it like understanding all about the business and potential roles available?
I was able to understand how each of the divisions within the bank work - from investment banking to sales and trading to asset management. I also learnt about the distinction between the front office and back office. Whereas beforehand all of these concepts were slightly alien to me, I now have a comprehensive understanding of how a major bank like BAML works, and I understand what roles are available within each of these divisions, which is great.
Please rate how insightful you found the insight
5/5
How would you rate the structure of the insight
4/5
Skills Development
Have you learnt any new skills or developed existing skills?
I did not do any proper work but I learn a lot of networking skills which will put me in good stead for my future career. This is because I was talking to a lot of ambitious and high net worth individuals. To be able to converse with these people is a skill in itself. I also learnt a lot about how to manage my time as previously I had not done any other insights.
How would you rate the training provided during your experience?
3/5
How would you rate the knowledge learned around industry-specific skills during the experience?
4/5
How would you rate the knowledge learned around personal or professional skills during the experience?
4/5
Please rate how the knowledge learned has helped you with regards to your career development
5/5
Company Culture
How would you rate business leader involvement during the insight
4/5
What was the company culture and general atmosphere like?
Investment banking is a dog-eat-dog industry so the culture is competitive although supportively competitive. Workers are encouraged to strive to make the greatest financial gains for the company. There are many corporate social responsibility programmes that the company holds to counteract this, and for the most part this is a great thing because they work with charities and other communities. I get the impression that being based in America first and foremost, BAML is slightly more competitive than other banks.
How would you rate the inclusiveness of the culture?
4/5
How would you rate the networking opportunities?
4/5
Please rate how valued you felt during your insight?
4/5
Overall Experience
To what extent did you enjoy the insight?
I really enjoyed the insight. We were made to feel welcome. There were some participants who were overly competitive because there were summer internship opportunities and stake and so understandably they wanted to impress. I think that the insight was good at helping students like myself to explore opportunities within the bank and this made for a positive experience because it felt like we as participants were gaining an insight into what our futures could be like, within banking or elsewhere.
Please rate your level of enjoyment on the insight
4/5
Please rate how your experience met your expectations
4/5
Were you paid or reimbursed adequately for this experience?
I was reimbursed expenses
Recommendations and Advice
Please rate the future employment prospects at Bank of America
4/5
Would you recommend Bank of America to a friend?
Yes
What tips or advice would you give to others applying to Bank of America
Look at how BAML distinguishes itself from other investment banks - particularly in terms of its sector focus. Try and network with people who have worked at the bank to give yourself a name to drop into your application. The more senior the individual the better however, any individual is better than none. Practice the online tests - these tend to weed out a lot of people who are otherwise good applicants on paper, so this is important.
