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2024/2025: University Students' Guide to iBank Summer Analyst/Bank Internship

When students start seeking internship opportunities, they may come across different job titles such as "Summer Analyst", "Summer Intern" or "Winter Analyst." Have you ever wondered what sets apart a "Summer Analyst" from a regular "Summer Internship"?

 

💡The key difference lies in the Return Offer/ Fast Track Scheme.💡 Want to know more? Keep reading!

Group Interview Case Studies

1. Which companies are most popular for Summer Analyst/Summer Internship?

  • Investment Banking: Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America, Deutsche Bank, UBS, BNP Paribas, Bank of America, and so on.

  • Banking: HSBC, Hang Seng Bank, Standard Chartered Bank, Citibank, DBS, Bank of China, BEA, and so on.

  • Property: Sun Hung Kai Properties, Hang Lung Properties, Sino Group

  • Conglomerates: Swire Group, Jardine Matheson Group, MTR, and so on.

  • FMCG: P&G, L'oreal, Unilever, DFI, and so on.

  •  

  • HKCareers has compiled the Return Offer statistics and salary information for different internship programs offered by investment banks (iBanks), banks, and consulting firms into the tables below. This information is highly important for students applying for the 2024/2025 Summer Analyst/Summer Internship Programs!

⭕️The following are partial 2022/2023 Summer Internship remunerations:

⭕️The following are partial 2022/2023 Return Offer opportunities:

HKCareers has successfully helped over 2,000 students from Hong Kong and Singapore secure IB/Banking/Consulting/Conglomerate Offers in the past.

If you are interested in learning more, you can join the Free Demo and Career Advising Session.

Offer Letter Sample
Offer Letter Sample

2.Why are internships so important for university students?

For Hong Kong university students, internships in investment banking, banking, finance, or consulting firms are much more than just a way to spend their winter or summer breaks or earn income. In fact, many large companies refer to their internship programs as "Summer Analyst" or "Winter Analyst." These companies don't simply hire interns but they use internship programs to assess students' work abilities and decide whether to offer a Return Offer or Fast Track Opportunity, allowing them to transit directly from a "Summer Analyst" position to a "Full-Time Analyst" after graduation. Therefore a good internship not only enriches your work experience and enhances your CV, but it also helps pave the way for your career path after graduation.

3. How challenging is it to apply for a Summer Analyst/Summer Internship?

In general, investment banks, large local or foreign banks, and consulting firms offer Return Offers or Fast Track Schemes for students who have completed their internship programs. They even reserve up to 90% of their full-time graduate positions for Summer Analysts. As a result, these companies receive thousands of applications, (ranging from 3,000 to 8,000) for Summer Analyst/ Summer Internship positions each year. Considering that each department within these companies only has a few available positions, the level of competition is intense. If students haven't started looking for internships by their penultimate year, they may miss out on the opportunity to enter investment banks, especially in highly sought-after front-office departments:

 

▶️ Investment Banking Division (IBD) - 10 to 15 people per program
▶️ Sales & Trading (S&T)/ Global Markets - 10 to 15 people per program
▶️ Asset Management (AM) - 10 to 15 people per program

▶️ Private Banking (PB) - 10 to 15 people per program

 

Similarly, in the banking sector, front-offices of popular foreign banks also offer Return Offers or Fast Track Opportunities, including:

 

▶️ Global Banking (GB) - 10 to 15 people per program
▶️ Commercial Banks (CMB) - Approximately 10 people per program
▶️ Corporate Banks (Corp Banks) - Approximately 10 people per program

 

Besides investment banks and banking, some large property developers, consulting firms, conglomerates, or FMCG companies also offer internship programs. Although the intern salary or return offer rate may not match those in the aforementioned sectors, such experiences can greatly benefit your future career development and prospects, making them still attractive options. Due to the high competition, these companies set up multiple assessment stages to evaluate students' abilities, selecting the best among the best. Reaching the final round interview is already a significant achievement!

HKCareers has successfully helped over 2,000 students from Hong Kong and Singapore secure IB/Banking/Consulting/Conglomerate Offers in the past.

If you are interested in learning more, you can join the Free Demo and Career Advising Session.

Offer Letter Sample
Offer Letter Sample

​4. What are the different types of internship programs?

Internship programs can generally be categorized into three types: Full-time Summer Internship, Part-time Internship, and Placements. The differences lie in the internship period, working hours, and whether the program is part of the study curriculum.

 

▶️ Full-time Summer Internship: This type of internship takes place during the summer break and typically involves full-time work, taking around 40 hours or more per week. Full-time summer internships provide students with a more extended practical experience. Students usually participate in these internships during their university summer breaks, gaining in-depth knowledge about specific industries or companies and acquiring comprehensive work experience.

 

▶️ Part-time Internship: Part-time internships usually occur during the semester, with students participating in work outside of their class hours. Part-time internships involve fewer working hours, typically a few hours per week. These internships allow students to balance their academic studies with practical experience, enabling them to gain some practical skills and professional experience.

 

▶️ Placements: Placements typically refer to long-term internships that students undertake at a particular company or organization during their university years, lasting several months or even a year. These internships are often part of students' learning programs and closely related to their degree courses. Placements aim to provide students with practical experience in their chosen field and apply their academic knowledge to real-world situations. Students undertaking Placements typically receive some remuneration during their internship and are likely to be hired after the internship ends.

HKCareers has successfully helped over 2,000 students from Hong Kong and Singapore secure IB/Banking/Consulting/Conglomerate Offers in the past.

If you are interested in learning more, you can join the Free Demo and Career Advising Session.

Offer Letter Sample
Offer Letter Sample

5.  What are the stages of the Summer Analyst / Summer Internship ?

To increase your chances of securing a Return Offer or Fast Track opportunity, it is crucial to start seeking internship opportunities as early as Year 3 or Penultimate Year. First and foremost, you need to understand the recruitment flow of most financial institutions or companies in Hong Kong so that you can have a clear understanding of the steps you will go through when applying for internships. HKCareers can provide assistance in various sectors, including Investment Banks (IB), Banking, Property Development Companies, Consulting Firms, Conglomerates, or FMCG companies, to help you obtain your desired offer.

Similarly to previous years, the recruitment process for the 2024/25 Summer Analyst/Summer Internship typically consists of the following stages:

  • CV Screening

  • Aptitude Test

  • Video Interview/HR Interview

  • Assessment Centre

  • Panel Interview

 

⭕ Details of Each Stage and the Respective Preparation Methods:

 

1️⃣ CV Screening:

After submitting an application for the Management Trainee (MT)/Graduate Trainee (GT) position online, some companies will conduct a CV screening process (using artificial intelligence) to filter out unsuitable candidates and select those who meet the criteria to proceed with the aptitude test and other subsequent stages.

 

If you want to secure your desired MT or GT offer, the crucial first step is to have a professional and competitive Curriculum Vitae (CV). Many students tend to include all their information in their CV, thinking that longer is better. However, each item or keyword on the CV should be relevant to the industry and position you are applying for, highlighting your abilities, character, experience, and distinct qualities. Whether it's the HR department or AI, they should be convinced that you are capable of handling the MT position and having the potential to become a part of the company's management. If you include inappropriate information in your CV, you may be eliminated at the initial stage of CV screening, even before entering the assessment process.

 

However, writing a persuasive and competitive CV on your own can be challenging. How would you know what qualities or backgrounds different companies or HR departments in various industries are looking for in employees? This is where attending a personal CV and cover letter workshop might help you! HKCareers has got professional consultants who can analyze your CV from an insider's perspective during an one-hour session and provide objective suggestions for improvements, allowing you to showcase your abilities and strengths on a single page CV while meeting the requirements of the target companies. Our goal is to stand out from thousands (or even tens of thousands!) of job applications and increase your chances of success.

2️⃣ Aptitude Test:

There are various Aptitude Test systems available in the market, commonly used by Hong Kong companies, including SHL, Talent Q, CUBIKS, GradeAce, Cut-e, and Game Assessment, among others. Different companies adopt their own systems to assess different aspects of candidates' abilities. To pass the Aptitude Test successfully, you generally need to complete or answer correctly 85% to 95% of the questions.

 

Even if your CV is outstanding, if your Aptitude Test scores do not meet the standard, you won't proceed to the next stage of the selection process. On the other hand, if your CV is not particularly outstanding, but you have the ability to perform well in the Aptitude Test, you still have a chance to advance to the next round and compete with others.

 

Since the Aptitude Test is crucial, it is essential to understand the winning strategies and methods for different types of Aptitude Tests, enabling you to excel regardless of the specific test type and secure the desired offer.

​​

 

 

 

3️⃣ Video Interview/ HR Interview:

After the COVID-19 pandemic, many companies (including HSBC, JP Morgan, MTR, etc.) have adopted video interviews to select candidates for further assessment. However, a small number of companies like Hang Seng and Citibank still use traditional HR interviews. In a video interview, you generally won't face a live interviewer. Instead, you need to log into the company's system (commonly using HireVue) within a specific time and answer a list of pre-set questions. You only have one chance to provide your responses, and the entire process is recorded on video, which is evaluated by both AI and HR personnel. It's worth noting that companies don't just assess the content of your answers; they also pay attention to every detail: the video-taking environment, hardware setup, audio and video quality, personal appearance, manner of speaking, and even facial expressions! Your every movement and gesture in front of the camera are scrutinized, along with data analysis by the system. In some video interviews, HR managers may include certain keywords or descriptions in the system based on industry background, company culture, and job nature. The AI then tracks the frequency of your mention of these keywords to assess your personality and determine how suitable you are for the company's position. Therefore, don't underestimate the video interview just because you can do it from home. It can be more challenging than traditional interviews, and many people often stumble in this stage without fully understanding why.

 

Tips for Video Interviews:

  • Test your camera beforehand and choose a well-lit location. Adjust the camera angle to ensure that your face and chest are visible in the frame.

  • Speak slightly louder than usual to ensure clear recording of your responses by the AI.

  • Prepare a script for common CV-based or behavioral questions and familiarize yourself with it to avoid improvising during the interview.

  • Time your script accurately. Generally, video interviews provide two to three minutes for each question, and you usually have only one chance to record your response. Make the most of this opportunity.

  • Manage your time properly and start wrapping up when you have 10 seconds left.

 

4️⃣Assessment Centre:

An Assessment Centre (AC) refers to a company conducting multiple assessments on the same day. It usually includes a written test, onsite aptitude test, case analysis, group discussions, role plays, and individual interviews. Case analysis is often the most challenging part and requires more preparation time. Some companies, particularly in property developers or specific conglomerates, may also include team games to assess group cooperation skills.

 

Case analysis involves:

In a typical case analysis, people are often assigned to work in groups of six to eight. They are required to read a 10 to 20-page business case within a limited time frame, which includes company information, financial statements, accounting ratios, product details, etc., and to engage in group discussions ir order to accomplish one of the following assigned tasks:

 

  1. Analysis Type: Analyzing the case background, identifying problems, providing effective recommendations, and delivering a presentation.

  2. Proposal Type: Proposing a theme and outline for the case, discussing detailed aspects such as manpower allocation, cost control, and marketing promotion.

 

Tips for Case Analysis:

  • Set a discussion agenda and allocate time for each agenda item.

  • Do summarize the discussion progress from time to time (recommended every five minutes) to ensure efficiency.

  • Demonstrate your analytical skills. Make good use of tools or models and consider various perspectives, including financial, market, competitive, and risk aspects, when expressing your viewpoints.

  • Strike a balance between leadership versus teamwork, assertiveness versus compromise.

  • Utilize tools such as flip charts (around 5 to 10 sheets).

  • Prepare for common questions in the Q&A session, such as contingency plans, foreseeable risks, alternative solutions, etc.

 

Case analysis assesses not only theoretical knowledge, numerical and analytical abilities but also evaluates soft skills such as stress tolerance, leadership, and communication skills. Although it may seem challenging to read and analyze multiple pieces of information within a short time frame, preparation and practice can improve your performance. HKCareers provides support for all stages of the interview process, including the first round, assessment center, and final superday, offering the latest and most comprehensive interview sources and briefings for different investment banks, banks, and companies.

 

 

 

 

5️⃣Panel Interview)

Panel interviews usually occur in the final round, where the interviewers are often division heads or managers. They ask situational and industry-specific questions to assess your professional skills, problem-solving abilities, and suitability for the role.

 

Common interview questions include:

  • Tell me about a time you worked in a team.

  • Tell us about one of your biggest setbacks at work or in life.

  • How do you deal with stress and failure?

  • Where do you see yourself in ten years? What is your ideal career development plan?

  • Can you propose a new digital initiative to attract more young professional clients to our bank?

  • Walk me through a discounted cash flow model.

  • Can you share any recent financial news?

 

In addition to the commonly asked questions, panel interviews may also include unconventional questions to test your ability to think on your feet. HKCareers provides in-depth industry knowledge and technical skills training, as well as professionally crafted answering scripts to help you leave a lasting impression on the interviewers.

Mt Interview Process
MT Interview Process - Aptitude Test
MT Interview Tips
MT Interview Tips - Video Interview
MT Interview Tips - AI Interview
Business Case Discussion- Mt Interview
MT Interview Tips
Interview Image

HKCareers has successfully helped over 2,000 students from Hong Kong and Singapore secure IB/Banking/Consulting/Conglomerate Offers in the past.

If you are interested in learning more, you can join the Free Demo and Career Advising Session.

Offer Letter Sample
Offer Letter Sample

HKCareers tailors personalized job application strategies for university students in Hong Kong, Singapore, and the UK, targeting Management Trainee Programs, Internship Programs, and positions in Investment Banking, Banking, the Finance sector, and Consulting Firms. These strategies include improving CVs and Cover Letters, providing interview training and mock interviews, Aptitude Test question banks, detailed interview questions, and industry reports, all aimed at significantly increasing the chances of students securing a Management Trainee Offer. Since its establishment in 2014, HKCareers' professional team, consisting of over 150 experienced career consultants and industry experts, has paved the path to success for more than 2,000 students, documenting numerous successful cases.

Multiple MT Offers
Multiple MT Offers

Alumni of HKCareers share their success stories and reflections:

MT Interview Tips
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24_Bain&Co_Associate Consultant
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Interview Questions

HKCareers has successfully helped over 2,000 students from Hong Kong and Singapore secure IB/Banking/Consulting/Conglomerate Offers in the past.

If you are interested in learning more, you can join the Free Demo and Career Advising Session.

Offer Letter Sample
Offer Letter Sample

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Disclaimer: HKCareers is an education institute on career development and training. We are not an employment agent and do not provide employment services. | Site Policy

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