For the Love of Money
Last summer, I interned with Key Bank’s Real Estate Capital Private Equity group in Washington, DC. Like many other companies, Key Bank offered a scholarship attached with an internship. I was awarded an $8,000 scholarship plus an internship that paid $15 an hour. I enjoyed the internship a great deal; I worked very hard so it made me feel like I was part of the group. As an intern it is essential that you are adding value, because if you are not adding value most likely you will end up not getting a permanent offer. I tried to show my boss that I was really interested by participating as much as I could. Being an active intern is essential. Often times, the opportunity to participate depends on where you work. I was very fortunate enough to be placed in a setting that allowed me the opportunity to work with people who wanted to make my experience the best it could be. As an intern your job is to be a sponge, you should soak up every bit of knowledge you can. For example, my managing director received his MBA; he is where I want to be in the future. Therefore, I used any available opportunity to work with him directly.
Because I worked within the Real estate capital division; I prepared and read over deal memos detailing key financial statistics and industry comparables to issue debt to different real estate developers. Moreover, I developed numerous excel reports consisting of market data such as rental rates and competition for primary and submarkets. In addition, I created market project establishing a database for the group. Lastly, I collected market data on a quarter basis and set up the parameters and metrics for the national real estate division on a nation wide market.
Working at Key Bank has opened up a window of opportunities. For example, due to my past working experience I will be interning at Morgan Stanley this summer in their investment banking division. I am a Richard B. Fisher Scholar, meaning I have received a $7500 scholarship plus the Morgan Stanley internship in New York for the upcoming summer.
A misconception that many students have about their future is that you have to already know what you want to do after college. Interning during your college years is all about learning. Internships allow you the opportunity to see what you like about a potential career field and then decide whether or not you want to be in it for the long run. Not only this, but it will set you apart from your peers. Surprisingly a lot of students do not maximize their summers. By interning, companies and different graduate schools will see that you are self-motivated; it shows that you are smart, diligent, and are interested in your future. Also, you will be inspired by the people you work with and as a result you will become more ambitious.
For anyone looking into internships, I wish you the best of luck and I hope that you found my reflection helpful. Interning this past summer was a phenomenal experience for me and it could be the same and more for you.
Written by Jackson Sarter, Morehouse College '09
