Jonathan Quinn is a double major in Finance and Business Economics and will graduate next spring. He interned this summer for Morgan Stanley as the Wealth Management Intern in Tucson, Arizona.
What was a typical day like? I’d come in at 7 AM/8 AM every single day and leave around 1 PM/2 PM. I’d briefly look at the market to see if any key events had taken place since I left the day before. After that, I would go to my team’s coordinator to see if there were any particular task that needed to be done. If there were, then I would complete them before going to my Portfolio Management Director and his partner, a Senior Portfolio Manager, to see if there were any projects I could do. Some projects I worked on this summer were: scenario analysis, portfolio analysis in favor of dividends, segmenting my advisor’s book of business to ensure we segmented it in an efficient manner that was logical, and conducted investments research through multiple research platforms including Barron’s, Wall Street Journal, and Center for Investment Excellence (CIE).
What was your favorite part of the experience? My favorite part was coming into the internship thinking I knew a lot about the Wealth Management industry and the capital markets, but being proved completely wrong and proved that I had a lot more to learn. I loved the aspect of continually coming in and having a new project to work on and really analyzing the behavioral aspect of investing within the market.
What did you find most challenging about your internship? The most challenging part was trying to understand that there are risks with investing, because you could theoretically lose thousands of dollars of one missed investment, so it was very important to understand how to minimize risk within a portfolio while maximizing returns and still making sure that we were prepared for any scenario that the economy presented.
What advice do you have for other students looking for a similar internship? Reach out to as many people as possible! Eller has a great team in the PDC who are great resources from interview prep, to resume reviews, and even providing you with available jobs that aren’t posted on Handshake. Always ask questions and make sure to meet with them periodically throughout the application process. Also, do a self-analysis to zone in on what you like to do and what you care about so that you look for jobs that fit your interest. After doing that start to look for these jobs and especially in locations you desire, and reach out to your personal connections to see if you know anyone within the industry because they can help introduce you to other people they work with for future employment opportunities.
How did Eller prepare you for your internship? Eller helped me prepare to work with tight deadlines on multiple projects at once. I also learned how to work well with my advisory’s team due to all the group work we had been assigned in first and second semesters of Eller. My investments class helped me a lot with understanding how the capital markets work and in particular how to deal with scenario analysis to minimize our clients risk, while maximizing their returns on their portfolios. My Accounting 400C class helped me to understand how to read financial statements to understand the financial health of a company.
Did your internship employer provide housing or transportation assistance? No, my employer did not provide any housing or transportation assistance
Anything else you would like to share about your internship experience? Don’t let one application process affect your mindset. There are plenty of internships out there for really great companies just because you don’t get an internship for one company does not mean that you won’t find another company that likes you.