Whether you’re considering a degree in financial technology or enrolled in a program, you’ll want to start thinking about how to land a fintech internship before you break into the field. A fintech internship can provide valuable hands-on experience to apply to your studies and future career. Plus, with a fintech internship, you’ll have some real-world work experience on your resume before you even graduate!

How exactly do you find an internship in the fintech field, and how could it help prepare you for other career opportunities in fintech?

How to Find a Fintech Internship

So, where do you even begin when it comes to finding and securing a fintech internship? First, it’s to understand what a fintech intern does and what to expect from the process. From there, you can determine when the best time to start applying for internships will be for you.

What Does a Fintech Intern Do?

The type of work a fintech intern will be responsible for depends mainly on the internship role you secure. It may also depend on which company you intern for and the type of work they do. Some examples of the kinds of fintech companies include venture capital firms, investment teams, financial markets, and software engineering firms.

An intern’s work in a venture capital firm will differ significantly from that of a fintech intern in a software engineering firm. Many fintech interns will work on building and testing projects, collaborating with other professionals and interns, and producing new ideas. Interns may also be relied upon to perform basic administrative tasks, including answering phones, entering data, and filing paperwork.

The best way to find out what a specific fintech internship will entail is to read the job description before you apply. The training will give you a better feel for whether a particular apprenticeship position is correct based on your interests and career aspirations.

Another common question students have about fintech internships is how they can expect to get paid. The training depends on the company and role, as some internships are unpaid, and others may offer a stipend or an hourly wage. Even in the case of an unpaid internship, you may be able to apply your experience to some credit hours within your program—inquire with the company and your school directly to determine if this will be an option for you.

When to Apply for a Fintech Internship

You can technically apply for a fintech internship at any point during your college program. However, when you should use it will depend on several factors. For starters, how close are you to graduation? The more fintech coursework you have, the better qualified you will be for an internship. If you’re a college first-year student still taking your general education courses, there’s a solid chance you should hold off on an internship until you’re further into your program.

College seniors usually apply for fintech internships during their final school year. However, internships can also be worthwhile to explore immediately after graduation or during a graduate degree program to put some of your coursework and study into practice.

If you’re interested in a summer internship, be sure to start submitting your applications sooner rather than later. Some fintech companies begin recruiting for these roles as early as the fall, so it’s a clever idea to get ahead by throwing your hat in the ring as a candidate before others do. You’ll also want to be mindful of any application deadlines.

Where Do Fintech Interns Work?

Companies hire fintech interns to carry out any number of important roles. While the following is by no means a comprehensive list, it can give you a better idea of the type of work you could do as a fintech intern.

Venture Capital Analyst

A venture capital analyst is typically an intern or entry-level professional hired by a large venture capital firm to research and help make investment recommendations. Typically, these professionals work alongside an investment team to conduct extensive research and make these decisions for the company’s good.

Quantitative Research

As a quantitative researcher or research analyst, you’ll design and implement complex algorithms to solve some of the most complicated financial problems. This work involves a heavy use of math, probability, and statistical models—so it’s an excellent fit for those who enjoy highly technical work.

Accounting

If numbers and accounting are your thing, another fintech career path that could suit you is accounting. All fintech firms and companies need professional accountants to assist with day-to-day finances and similar aspects of their operations. Working in fintech accounting also means providing advisory and consulting services. It is common for fintech companies to hire accounting interns to help support their full-time accounting staff, so this may be an opportunity worth exploring.

Software Engineering

Fintech companies also have a significant need for software developers, as they often come out with programs that need a lot of fine-tuning and technical expertise. A software engineering intern may work alongside full-stack developers, technical test engineers, backend developers, and other software engineering team members to develop, test, and troubleshoot programs before they are released.

Computing Applied Research

If you’re more interested in the computer science side than the business side of fintech, then a role as a computing applied research intern may be proper for you. This type of internship may be more readily available through a fintech software firm or similar company. It will allow you to put your understanding of engineered systems and applications to the test.

Finance

A finance background will serve you well if you’re looking for a fintech internship. Some examples of the types of finance roles companies may hire interns for include strategy and management, data analysis, operations associates, enterprise payments, and financial services consulting.

Companies Hiring Internship Roles

Specific companies actively hiring interns will vary depending on many factors, including when you’re applying. However, there are some larger fintech firms and companies that are known to recruit fintech interns regularly, including:

  • Discover
  • DRW
  • Optiver
  • Workiva
  • ActBlue
  • Belvedere Trading

If you’re interested in applying for fintech internships and currently enrolled in school, your best bet is to visit your school’s career services or professional development office for guidance. These are excellent resources for locating internship opportunities that may suit your interests. Likewise, these on-campus resources can be great for helping you strengthen your resume and prepare for interviews.

Another way to find internship opportunities in your area is to search online for “fintech internships + [your location].” A fintech internship can be a great way to narrow down your opportunities and learn more about them before you apply. If you know anyone who already works in the field, you could use your connections to learn about internship positions that may be available. The more you network in the fintech field, the better.

Relevant Skills for Fintech Interns

So, what kinds of skills are companies looking for in an intern? Again, this can vary significantly based on the company you are applying to and the role itself. However, most companies hiring fintech interns will be looking for candidates with:

  • Excellent interpersonal and communication skills (both verbal and written).
  • A strong background in computer science or a related field.
  • The ability to lead and collaborate with others.
  • Strong comprehension of trading systems, computing, and other financial/technological trends in the industry.
  • A willingness to learn from others.

Relevant Experience and Knowledge

As you explore fintech internship postings, you’ll likely see a list of preferred experience and other requirements selected for the role. Take the time to read through these and decide whether you’re qualified for the position before you apply. Some roles, for example, may be better suited for those with a computer science or software engineering background. Others may be more focused on knowledge of financial trends, trading systems, and investments.

For most fintech internships, prior work experience is optional in the field. That’s because training is the “stepping stone” into the area. However, even with no experience working in fintech, it’s a good idea to consider some of your previous jobs and how some of those skills might translate to a fintech intern role.

Explore Financial Technology Programs and More

As you can see, there’s a lot to remember when pursuing a great fintech internship and getting the most out of your experience as an intern. Whether you end up interning at a fintech company that specializes in software engineering, trading systems, computing, venture capital, or anything in between, this is a valuable experience. Plus, having an internship on your resume may also open career opportunities once you graduate.

Still looking for the fintech degree program that’s right for you? Explore Keiser University’s Master of Science in Financial Technology. We also offer various graduate degree options to help you differentiate yourself from other competitors. Ready to learn more?

Reach out to speak with an admissions counselor today!