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Bank of America

Investment Banking Associate Review

at Bank of America

Internship (1 Month+)

Banking

City of London

Review Submitted: November 2022

Overall Rating

5 /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!

5/5 - Overview of Role
5/5 - Skills Development
5/5 - Support and Guidance
5/5 - Company Culture
5/5 - Overall Experience
5/5 - Future Career Prospects

Overview of Role

Please give an overview of your role and what this involves on a day-to-day basis.
perform financial analyses, Develop and maintain complex financial models, conduct in-depth research, prepare pitches (several projects at once and work effectively as an individual and as part of a team(, and support the origination and execution of transactions. During the summer we were placed within one of the industry, country, or product coverage teams. We received extensive formal training offered at the start of the program in addition to on-the-job support, educational speaker events, and mentorship throughout.
Were you given much responsibility during your placement / internship?
Yes. It goes in parallel with the learning curve. In the beginning, they want to see your level of knowledge, as many of us have prior finance experience in big banks or companies. Hence, based on your first deliverables, then you are granted additional responsibilities over the due diligence, which includes client exposure from the early stages, besides participation in due diligence sessions, communications, and interaction with deal team members. Banker are supportive and provide close monitoring of the process
Please rate how meaningful the work you were doing was
5/5

Skills Development

Have you learnt any new skills, or developed your existing skills?
Yes. I've learned many technicalities of the industry, ranging from building an LBO from scratch to working on a reverse-merger model. At the same study, in case you want to learn additional things, bankers provide you with study cases, which later on they will correct and give you proper and valuable feedback. The whole experience was super good! We also have two weeks of training sessions at the beginning of the internship, to ensure technical base knowledge.
How would you rate the training provided during your experience?
5/5
How would you rate your development of industry-specific skills during the experience?
5/5
How would you rate your development of personal / soft skills during the experience?
5/5
Please rate how these skills have helped you in your career development
5/5

Support and Guidance

How much support and guidance did you receive during your placement / internship?
Yes. It goes in parallel with the learning curve. In the beginning, they want to see your level of knowledge, as many of us have prior finance experience in big banks or companies. Hence, based on your first deliverables, then you are granted additional responsibilities over the due diligence, which includes client exposure from the early stages, besides participation in due diligence sessions, communications, and interaction with deal team members. Bankers are supportive and provide close monitoring of the process
How would you rate the support and guidance from your line manager?
5/5
How would you rate the support and guidance from the wider team?
5/5

Company Culture

What was the company culture and general atmosphere like?
Super Good. Seems BofA is really working on work-life balance, as many bankers were leaving early, though continuing to work from home. On top of that, they were granted some work-from-home days. So overall you were able to see flexibility provided by the bank. All the interns have the opportunity to combine exceptional training and real work experience, and this is mostly because of the good culture of the bank, and how helpful they were form day one
How would you rate the inclusiveness of the culture?
5/5
How would you rate the social opportunities?
5/5
How would you rate the diversity initiatives?
5/5
How would you rate the charity, sustainability and corporate social responsibility (CSR) initiatives?
5/5

Overall Experience

To what extent did you enjoy your placement / internship?
Super Good experience, going back next summer after being awarded the full-time offer. Both the time at the office, and the networking events, volunteer assignments, and after drinks were super important as we have the opportunity to know people better, outside the bank. At the office, we were faced with good challenges that took us out of our comfort zone. This was important for us, as coupled with a good level of support, we managed to comply with our assignments in due time.
Please rate your level of enjoyment on your placement / internship
5/5
Please rate how your experience met your expectations
5/5

Future Career Prospects

Please rate the future employment prospects at Bank of America
5/5

Recommendations & Advice

Would you recommend Bank of America to a friend?
Yes
What advice would you give to others applying to Bank of America
Push with the network during your interview process! People are super nice in all stages. Exciting challenges are waiting for you regardless of where and in which area you join. As part of its teams, you learn, grow and contribute to one of the world's leading banks. You gain exposure to the business, learn financial modeling and valuation techniques, and contribute to innovative deals that are transforming today's corporate landscape. You will love the experience
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