Nicole Cassidy, a BHP/Finance senior, had a summer internship at Morgan Stanley in the Global Capital Markets Securitization team. Morgan Stanley is a global financial services firm that specializes in securities, asset management, and credit services.
How did you find out about your internship?
As a sophomore, I received an email invite to an information session and dinner with the Global Capital Markets group. I went to the event and learned a lot about Morgan Stanley and Capital Markets. Although I didn’t intern with Morgan Stanley that year, I kept in contact with some of the employees that I met. When it came time to recruit this year, I already had quite a few contacts and knew about the internship. It certainly made the recruiting process much easier!
What do you think set you apart from other candidates and led to you getting the position over other candidates?
A UT grad who works for the division put me in contact with several of his colleagues. By asking questions and listening to various descriptions of job functions and the company culture, I was well-prepared for most interview questions. In addition, I was asked several times during Super Day who I had talked to prior to the interview. I think I set myself apart by being able to show that I had taken the time to learn about the job through various employees beforehand.
What were you doing for your internship?
I was on the Securitization Capital Markets Team. More specifically, I was on the team that issues auto, utility, and mortgage-backed securities. I often created pages and models for client presentations and selling memos for the trading floor. In addition, I also worked to get deals rated by the rating agencies and often revised texts with commentary from the legal team.
What did you enjoy most from the experience?
I really enjoyed being given real projects on a daily basis. I didn’t simply make copies, but instead saw my work actually being passed on to clients and traders. In addition, my team was great about giving me a variety of projects so I could see everything that they do. I had the opportunity to work with a variety of asset classes and was able to discern which I liked better than others. It was also very interesting to discern fact from fiction about Wall Street. Last but certainly not least, I made wonderful friends from this experience and was able to explore New York with them!
What were the key takeaways for you?
Perhaps the biggest takeaway has been the importance of work-life balance. I was working 80-90 hours a week. More than anything, I learned to really enjoy time off (and sleep)! In addition, I learned how to be more detailed-oriented. Almost everything I did was eventually passed outside of my group, so even the smallest details become important.
How do you think this internship will help you with your future career goals?
My ultimate career goal is to be a financial lawyer. Whether or not I decide to actually work in the banking industry first, this internship has opened my eyes to the complexities and opportunities that the industry presents. My team is on calls with lawyers on a daily basis so I have gotten an eye into their daily job functions and the overall career path. In addition, learning the financial language and methodology will be beneficial wherever I end up.