Goldman Sachs, Citi, Credit Suisse, Barclays Capital, and Morgan Stanley are among the top investment banks hiring Master’s in Financial Engineering (MFE) students for mid-program internships.
Sixty of the 62 students seeking internships have been placed, with the remaining expected to be placed shortly, according to MFE Executive Director Linda Kreitzman.
"The internship program is an integral part of the program; the firms test-drive the students for full-time opportunities, and the students apply the skills they have acquired after completion of 75 percent of the coursework," says Kreitzman. "The demand for the Berkeley MFEs is huge because our students have a very strong reputation on Wall Street and in other financial institutions."
All but one internship secured so far this year are paid, at an average monthly salary of $7,354.
Twenty-six students will work in New York, for such organizations as JP Morgan, BNP Paribas, Standard & Poor's, and Barclays Capital. Other students will hone their skills in financial centers ranging from Hong Kong and Tokyo to London and Munich, as well as in such US cities as Houston, Chicago, Boston, and San Francisco.
Alexandre Jacquet, MFE 10, was seeking exposure to interest rates, foreign exchange, and credit. He found it at JPMorgan in London, where he works on the derivatives trading desk in emerging markets. “Being on the emerging markets floor of such a player gives the opportunity to understand the rationale behind diverse trades and to be part of a successful team,” says Jacquet.
Fellow MFE 10 Alexey Orlovsky prepared for his internship by conducting several research projects for different asset classes. “Such focus helped me secure an internship at Deutsche Bank in San Francisco, where I currently investigate behavioral bias in asset allocation decisions of US pension plan sponsors,” says Orlovsky.
The students will work in their internships until Jan. 16, and classes will resume on Jan. 19.