Investment Banking Careers – Spring Week Internships

What are Spring Week Internships?

Spring Week internships, also known as insight weeks, are short-term programs lasting one to two weeks, offered by investment banks and other financial institutions across Europe. These internships are designed to give first-year university students, or second-year students on a four-year course, an early introduction to the finance industry.

Rather than involving intensive hands-on work, Spring Weeks are focused on providing exposure to the bank’s operations and culture. Participants may have the opportunity to observe analysts, attend skills workshops, and engage in networking sessions with professionals from various departments.

The primary purpose of a Spring Week is to help students understand what a career in finance involves while also allowing them to begin building meaningful connections within the industry. Completing a Spring Week can significantly improve a candidate’s chances of securing a competitive summer internship, which often serves as a pathway to a full-time graduate position.

A Spring Week is a valuable opportunity to gain insight, expand your professional network, strengthen your knowledge, and add a well-known company to your curriculum vitae.

What Happens in a Spring Week?

You will receive a highly structured week that can include training (an introduction to accounting and Excel), workshops to learn about the bank, a group case study to advise a fictitious client on their next steps, practice valuation of a company, and many other things too.

There are often lots of networking events i.e. chances for you to mingle with staff, ask questions, and impress them with your interest. They are a great chance for you to get the feel of a bank and find out if the job is for you.

Who Can Do a Spring Week?

These are aimed squarely at first year students on a three-year course, and second year students on a four-year course.

Banks want to identify talent early on before other companies get their claws into the best employees. Plus, it’s effectively a weeklong interview. Many spring week interns will go on to be offered a summer internship.

Significantly, the subject you are studying really isn’t very important. They are looking for bright, enthusiastic people who are quick to learn, but who also have a big interest in banking. Everything else can be taught at the bank, so do not think you need to have in-depth finance knowledge just yet (but for a summer internship it will be more important).

And again, while going to a top university helps, it is not the be all and end all. Most bankers at top investment banks will have a strong academic record, but many did not attend target universities so do not rule yourself out.

Which Banks Offer Spring Weeks?

Most major investment banks in the UK run Spring Week programs, including all the well-known bulge bracket firms such as Goldman Sachs, J.P. Morgan, Morgan Stanley, and Barclays. But they’re not the only ones.

You’ll also find opportunities at top elite boutiques like Lazard, Evercore, and PJT Partners, as well as mid-market firms such as Jefferies and Houlihan Lokey. Some firms that straddle the line between bulge bracket and regional banks, like RBC and Wells Fargo, also participate.

While this blog focuses on investment banking, it’s worth noting that asset managers, hedge funds, consulting firms, and trading houses increasingly run their own insight programs around the same time.

One important factor to consider is conversion rate, that is, the likelihood of turning a Spring Week into a summer internship. This varies significantly by firm. For example, Citi is known for converting a large majority of its Spring Week attendees into summer interns, sometimes upwards of 80–90%. Other banks may offer far fewer return opportunities, making it essential to weigh your options carefully, not just based on brand name, but on practical outcomes.

The Spring Week Application Process: Steps and Requirements

1. Online Application Submission

• You will begin the process by submitting a one-page CV that follows a clean, professional format. It should include your academic background, any relevant coursework, extracurricular involvement, and prior work or volunteer experience, even if it’s not directly related to finance.
• Alongside your CV, you must submit a tailored cover letter that clearly expresses your interest in the financial industry and explains why you’re applying to that specific bank and division. Strong cover letters often reference meaningful interactions with the firm, such as networking events or conversations with employees, which show initiative and genuine enthusiasm.
• Many banks also include a section with competency-based questions, which require written responses of around 150–300 words. These questions are designed to evaluate your values, motivation, teamwork experience, and overall suitability for the role.

2. Psychometric Testing

If your application is shortlisted, the next stage usually involves a set of online psychometric assessments. These typically include numerical reasoning, verbal reasoning, and logical thinking tests, all of which aim to assess your ability to process information under time pressure, a core skill in high-stakes banking environments. Given the competitive nature of these tests and the tight pass rates, it’s essential to practice using reputable test prep platforms beforehand to improve speed, accuracy, and confidence.

3. Interviews

Candidates who perform well on the psychometric assessments are often invited to attend a first-round interview, which could take the form of a telephone conversation or a pre-recorded video interview (commonly conducted through platforms like HireVue). These interviews are primarily behavioral, focusing on your motivations for applying, your understanding of the firm, and your ability to reflect on past experiences that demonstrate leadership, problem-solving, or resilience. While technical questions are usually minimal at this stage, demonstrating commercial awareness and enthusiasm can significantly strengthen your performance.

4. Assessment Centre (Where Applicable)

At certain banks, especially those with a highly structured recruitment process, candidates who advance past the interviews may be invited to an assessment centre. This is a more comprehensive evaluation stage and often includes group exercises, case studies, and one-on-one interviews. The aim is to assess how well you work in a team setting, your ability to think critically and communicate effectively, and your overall professionalism. It’s also an opportunity for the bank to observe how you interact with others and whether you’d be a good cultural fit for the firm. Not all banks include an assessment centre at the Spring Week stage, but for those that do, it can be a decisive factor in determining whether you progress to the actual internship offer stage.

How to Apply

You’ll need to submit your CV, cover letter and answer some basic competency questions. If successful, you will move on to do online tests such as numerical, verbal reasoning or logical. Then, following this, you will be invited to an interview and an assessment centre at the final stage.

Access the resume template to see what a good and a bad investment banking resume looks like, and create your own successful resume.

How to be Successful in Your Application

Banks will not be asking you technical banking questions during your application process, you have only been at university for a short period. With that said, how can you differentiate yourself?

Firstly, recruiters are looking for your interest in banking, so do research on the specific firm and department you are applying to and mention it heavily in the cover letter. Do not write a generic paragraph that you copy and paste into every application form.

In an interview you will definitely be asked “Why do you want to join this bank?” and “Why this division?”. Have rock-solid answers that are specific to the company. A few hours of research on their website and a review of the news will provide you with many examples.

Secondly, you will need your extra-curricular interests to show off your ability to work in teams, organize activities, lead initiatives, all the skills desirable in bankers. Make sure you join university societies, teams or do some volunteering (school and gap year examples are also important).

University societies can hand out positions to anyone, they are not restricted in their number like a company would be. So, become an executive officer (a “general” position in a society) and attend committee meetings, take on a role, anything. Put all of this in your CV and cover letter.

Thirdly, make sure your CV and cover letter are immaculately written. No spelling mistakes or grammatical errors. Ask someone you respect to proofread it and give you constructive advice before submitting.

And lastly, apply early. This is the most crucial advice we can give. Offers are given on a first come first served basis. Once the spaces are gone, they are gone, even if the most amazing applicant comes in.

What are the Divisions I Can Apply To?

Some spring weeks will be generalist in nature i.e. you will get to experience many parts of the bank. But, at others, you will have the chance to choose a division on your application and it is important to know what you are applying for.

Every bank has different names for its divisions; for instance, the meaning of “global markets” at one bank can be very different to the meaning at another bank. Therefore, be sure to look at each bank’s website to research what the divisions mean. Here are some of the more common divisional terms seen in Spring week programs, but do check with the bank you are applying to:

• Investment banking – typically means mergers and acquisitions (M&A) i.e. advising corporates how to buy or sell companies. Staff here will interact with external clients.
• Markets – there is wide scope here, but usually involves helping organizations to raise money, usually in the form of equity or debt. They also help clients manage risk e.g. from foreign currency fluctuations or commodity price volatility. Again, the staff get to interact with external clients.
• Operations – these are support functions within a bank, including technology, risk management, compliance, HR, accounting, settlements, etc. The clients here are internal to the bank.
• Legal – may sit within operations (see above), and they handle legal, regulatory, reputational and compliance issues. They ensure deals are completed, and work is done in line with the law.

What to Expect During a Spring Week Internship

The week typically begins with presentations from key divisions such as investment banking, global markets, or asset management, providing students with a broad understanding of the firm’s structure and business model.

Students take part in skills workshops and CV clinics, which are designed to enhance their commercial awareness, prepare them for future internship applications, and develop soft skills such as communication and teamwork.

Many programs offer the chance to shadow junior bankers or graduate analysts, giving students a close-up look at the day-to-day life of professionals across different levels and functions. Participants often engage in group exercises, mock projects, or case studies, simulating real scenarios in which they can demonstrate problem-solving, collaboration, and analytical thinking.

Networking is a central part of the week, with students attending coffee chats, panel discussions, and informal socials that provide access to employees ranging from recent graduates to senior bankers.

Some Spring Weeks are designed as broad overviews of multiple divisions, while others allow participants to select a specific business area for a more focused experience based on their interests. While students do not work on live transactions due to confidentiality, the structure of the week offers a strong insight into the firm’s operational culture, expectations, and workflow. Throughout the program, students are often informally assessed on their communication, engagement, and teamwork, making the week a soft evaluation for potential summer internship offers. Where applicable, banks may cover expenses such as travel, accommodation, and meals, particularly for those travelling from outside the city.

How to Impress During the Week

There is no need to know everything about banking in advance. But taking a serious interest in the bank you are applying to and what it has been up to recently is an absolute must.

Read an Investment Banker’s top 4 tips for bossing your internship, where we asked an M&A banker at a global US investment bank to share their top tips on excelling in an investment banking internship.

You want to show recruiters that you like the bank, have researched it, and are itching to work there. But aside from that, be interested and enthusiastic. Ask questions. And show you are a nice, normal, social person who is easy to get on with and would fit in easily.

Get the names of people you are talking to and send them a thank you message after the week has finished. Add them on LinkedIn. Ask if they would be willing to meet up again for a quick chat on their lunch break. They might have tips for your summer internship application.

And politely let everyone know who you are so when you are offered the chance to stand up and ask a question, make sure you say your name and where you are from. If you are asking interesting questions and showing a real enthusiasm for banking, it will rub off on those around you and they will find themselves thinking “I’d love to have that person on my team”.

Who Actually Gets Spring Week Offers?

With acceptance rates often below 5%, landing a Spring Week is no easy feat. Competition is fierce; some banks receive thousands of applications for just a handful of places. For example, if 3,000 students apply, only 100–200 might be interviewed, and perhaps 60 will secure a spot.

Because most applicants are still in their early years of university and lack direct experience, selection is based on potential rather than professional track records. Here’s what typically matters:

• University: Attending a target or semi-target university, such as Oxford, Cambridge, LSE, UCL, Warwick, or Imperial, can increase your chances, though it’s not a hard requirement.
• Academics: Strong grades (a 2:1 or above) and solid A-Level results are essential, especially if you don’t yet have much of a university transcript.
• Extracurricular activities, such as involvement in societies, clubs, sports, or community work, help demonstrate initiative, teamwork, and leadership.
• Diversity: Many Spring Weeks include diversity initiatives, so being from an underrepresented background, whether in terms of gender, nationality, degree type, or ethnicity, can boost your chances.
• Personality and Presentation: Ultimately, being articulate, curious, and personable goes a long way. Banks want candidates who can grow into client-facing roles.

While top-tier universities dominate the statistics, students from a wide range of academic backgrounds are represented. If you can demonstrate motivation, polish, and a genuine interest in banking, you’re in the running. regardless of where you study.

Additional Resources

Ultimate Guide to Investment Banking Summer Internships – Infographic

Careers in Finance – Breaking into Investment Banking

Investment Banking Career – What to Do in Your 1^st Year of University

Key Functions and Roles in Investment Banking