Internship Diaries of 2020: Corporate Banking at Bank of America

Internship Diaries of 2020 is a series about the various categories of roles offered by companies for summer internships. We bring to you the experiences of interns from Consulting, Finance, Marketing, General Management, Product Management, Operations and E-commerce roles to understand a bit more about their work life. The articles are meant to give the reader a glimpse into the life of an intern and help the reader understand their fit in that particular role.

Contributed by: Katyayani Sonti

Picture Credits: Rishi Rathi                            

Edited by: Debleena Mondal

 

I interned at Bank of America as a corporate banking analyst this summer. The 8-week program got caught amid COVID-19 pandemic by mid-March and ended up getting postponed by almost one month before being declared entirely online. This came as a disheartening announcement since we would be expected to completely work from home. In order to ensure compliance, our batch at the bank was not on-boarded wholly and had to work altogether on publicly available data only.

Working from home, we were not privy to the bank’s everyday operations. Nonetheless, I received two projects within days of induction. I had immense help from my teammates over the phone in structuring both the projects but was also allowed considerable flexibility to present my arguments and ideas. I worked to weekly setup deliverables and received timely feedback.

Being a part of a small, close-knit team, I started interacting with very senior bankers (my mentors themselves being highly experienced Relationship Managers (RM)) right from the start. Although I did not have an opportunity to attend client meets/calls, again due to security issues, I was given a run-down of how deals work, the due diligence required to do for it, and some insights into the work of RMs.

I was expected to understand my work inside-out. The management was enthusiastic about learning my analysis and conclusions, often resulting in thought-provoking debates and discussions. Seniors in the team (Analysts and Associates) provided necessary support to help me find my ground—from recommending databases (to gather public data), to formulating problem statements, to evaluating and presenting my findings. Regular interaction with my team, despite the physical distance and effort, created a welcoming environment to learn and grow.

It was an enriching experience, especially given the different interactive sessions that were arranged on a regular basis throughout the 8-weeks. These sessions enabled the batch of interns to interact across LoBs with the respective business heads collectively and on a one-on-one basis (depending on requirement).

At the end of the internship, I stand amazed at how much I had gotten out of the experience despite never having left my home. It was surreal. I’d like to leave you, the readers, with the advice I got from my Buddy that helped me most in the virtual internship—“Don’t bother about what you can’t change, it’s your job to make the most of what you do have”

 

Katyayani, Rishi and Debleena are students of the PGP 2019-21 batch at IIM Bangalore.

Media Cell IIMB is the student run outreach and communication committee of IIM Bangalore dedicated to form the bridge within the student community and the outside world.

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