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How to Secure Summer Internships at Goldman Sachs, BlackRock, and Global Investment Banks?

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Summer internships at global investment banks and asset management firms represent crucial opportunities that often lead directly to full-time offers. The selection processes at prestigious firms like Goldman Sachs, BlackRock, and Blackstone are particularly competitive, requiring thorough preparation. This guide provides detailed information about internship programs, departmental structures, selection strategies, differences from local financial institutions, required qualifications, and valuable resources to utilize.

1. Summer Internship Details

Application Requirements (Academic Background, Major, International Experience)

Academic Background & Major: Generally, internships target students approximately one year from graduation, typically juniors (third-year undergraduates) or first-year graduate students. Goldman Sachs states that "students enrolled in any year or department of four-year university programs or graduate schools" are eligible to apply, with no specific major requirements. BlackRock also welcomes students from various academic disciplines, explicitly stating that "major or field of study is not a factor." Similarly, Blackstone does not specify major requirements for applicants currently enrolled in universities or graduate programs. For their Tokyo recruitment, undergraduate students and master's degree candidates (with less than one year of professional experience for master's students) were eligible. All these firms recruit students with diverse academic backgrounds and do not require specific majors.

Language Skills & International Experience: Strong English proficiency is essential. Since both the selection process and actual work frequently require English usage, many successful applicants have study abroad experience or have taken courses at international universities. However, international experience itself is not a mandatory requirement. BlackRock accepts applications from students attending universities both domestically and internationally, while Goldman Sachs states they "recruit talented individuals from around the world." Therefore, even without study abroad or international enrollment experience, candidates who have developed English skills and a global perspective domestically can successfully apply. It is worth noting that many candidates who pass the selection process are bilingual, and demonstrating English proficiency through high scores on tests like TOEFL, IELTS, or other language proficiency examinations, or through international experience, can be advantageous.

Graduation Timing: Since interns typically join as full-time employees in the year following their internship, specific graduation timeframes are specified in recruitment notices. For BlackRock, eligible candidates were "those expected to graduate between August 2024 and July 2025" (essentially juniors and first-year master's students approaching graduation). Blackstone Tokyo allowed applications from students at domestic universities who were "expected to graduate between December 2025 and March 2027" (covering a range including second-year to third-year undergraduates). These graduation timeframe requirements vary by company, with Blackstone offering opportunities to students earlier in their academic careers.

International Students: Global financial institutions welcome applications from students enrolled at international universities for their regional offices, with BlackRock's recruitment information specifically mentioning eligibility for "international university students." While international students may have advantages in terms of language skills and diversity, many students from domestic universities also successfully pass the internship selection process. Regardless of where you study, you have opportunities if you can effectively showcase your strengths.

Selection Process (Application Materials, Assessments, Interviews)

Resume/CV Submission: The process begins with online registration and submission of application materials. Most global firms require English-language resumes, with BlackRock specifically instructing candidates to "submit an English CV." Goldman Sachs also requires a standard application form, typically with deadlines set for mid to late June. Application content focuses on core elements such as motivation for applying, personal statement, and significant academic achievements. Applications for global financial institutions emphasize conciseness and logical structure, so prepare compelling content in both English and the local language where applicable.

Written Exams/Online Assessments: Candidates who pass the initial application screening face written examinations or online assessments. At Goldman Sachs, industry-standard online tests and proprietary numerical assessments follow the application stage, and candidates must pass both the application screening and online assessments to proceed to interviews. These written examinations are challenging, testing numerical analysis, English comprehension, and current affairs knowledge. Industry advisors note that "high scores on written examinations and online assessments are required, making it difficult to pass without preparation." Early preparation is recommended, with some students beginning their test preparation in winter of their sophomore year to achieve competitive scores. BlackRock may also administer online written assessments following the HireVue stage. For test preparation, practice with aptitude assessment tools and strengthen English reading comprehension skills.

Video Interviews (HireVue): Recently, many firms have implemented recorded video submissions (HireVue) as initial interviews. BlackRock requires candidates to "submit HireVue recorded interviews within 5 days" after application submission, with failure to do so resulting in disqualification. HireVue presents pre-recorded questions (in English and sometimes in the local language) to which applicants must record responses within time limits. Questions frequently cover self-introduction, motivation, career goals, and personal values. Effective preparation involves creating anticipated question-and-answer scenarios and practicing recordings multiple times. Goldman Sachs has also adopted HireVue in recent years, with video interviews reportedly serving as a gateway to Superday (final round candidate selection). Consequently, becoming comfortable with camera presence and presentation skills is important.

Interviews (In-person or Virtual): The final selection stages involve multiple rounds of interviews. After passing the HireVue stage, BlackRock typically schedules several web interviews in both English and local language, potentially including interviewers from departments other than the one you applied to. At Goldman Sachs, candidates usually face 2-3 rounds of interviews (with some divisions conducting multiple interviews in a single day, known as "Superday" format). While individual interviews are standard, some firms may incorporate group discussions or panel interviews. In fact, one global investment bank conducted first-round interviews in a group interview format, where interviewers asked questions to multiple students in sequence. Interview content typically focuses on standard questions like "self-introduction and motivation" and "what elements are necessary for leadership?" In English interviews, questions like "Tell me about yourself" and "Why our firm?" are common. Technical questions in internship interviews are usually not extensively probed, often limited to basic financial knowledge assessment and simple case questions to evaluate analytical thinking. For example, in Blackstone's real estate team interviews, candidates may face simplified investment case studies to assess analytical abilities, but the specialized knowledge expected beforehand is typically limited to understanding financial statements and DCF valuation concepts.

Final Evaluation: Decisions are made based on comprehensive assessment of all stages. Goldman Sachs summer internships are extremely competitive, with approximately 315,000 applicants worldwide for the Class of 2024 positions, resulting in an acceptance rate of just 0.9%. Therefore, flawless preparation from application through final interviews is essential. Some internship participants who are deemed exceptional may receive direct full-time offers on the spot, and at minimum, often receive preferential treatment in the regular recruitment process (such as exemption from final interviews). Recognizing that the internship selection process itself is as rigorous as full-time recruitment is important, requiring a strategy to successfully clear each step.

Required Skills and Experience

Academic Performance & Intellectual Capability:

Top global firms prioritize strong intellectual capacity, requiring high academic achievement and logical thinking skills. Goldman Sachs, in particular, operates on the belief that "talented people are the company's greatest asset," and recruits diverse talent worldwide, expecting the intellectual ability to handle complex problems. The need for high scores on written assessments underscores the importance of mathematical aptitude and problem-solving abilities.

Language Proficiency:

Bilingual proficiency in English and the local language is virtually essential. With English frequently used in daily operations and interviews often containing English questions, high TOEFL, IELTS, or other language proficiency scores are advantageous. At BlackRock, where interns may work on joint projects with international office interns, English communication skills for global collaboration are particularly valued.

Interpersonal Skills & Leadership:

Teamwork and communication abilities are key evaluation criteria. Goldman Sachs' published candidate profile includes individuals who can "show consideration for colleagues and collaborate as team members," with internships testing cooperation and awareness of others. Leadership experience is valuable for applications, but rather than emphasizing titles, it's more important to demonstrate specifically how you achieved goals with others.

Financial Knowledge & Industry Understanding:

Advanced financial engineering or accounting knowledge is not mandatory at the internship application stage. In fact, past successful candidates have reported, "I don't think financial knowledge is demanded in internship interviews. There's no need to appeal with superficial knowledge." Interviewers focus more on potential and character rather than knowledge volume, and answering within the scope of your university major or self-study is sufficient. However, to demonstrate passion for the industry, understanding basic terminology (stocks, bonds, M&A, valuation, etc.) is recommended. Since the selection process may include reading IR materials or simple cases, learning how to read financial statements and current market trends beforehand is advisable. Regarding personal investment experience, this can be a strength if you have it. For example, experience with stock investments or managing virtual portfolios allows you to concretely discuss your "passion for finance." However, there's no need to artificially create investment experience; instead, regularly follow market news in financial publications like the Financial Times or Bloomberg, and be prepared to discuss "stocks or economic topics you're watching". Questions like "What economic news has caught your attention recently?" are common in actual interviews, making it important to cultivate an interest in financial markets on a regular basis.

2. Departmental Structures at Each Firm

Each company has several departments that accept interns, with job content and required skills varying by division. Below is an overview of the main departments and their functions at each firm that offer internship opportunities.

Goldman Sachs – Divisions and Work Content

Major Divisions: Goldman Sachs operates across diverse business areas including Investment Banking Division (IBD), Global Markets Division (Sales & Trading), Asset Management Division, and Investment Research Division. The global offices maintain similar structures with IBD (advising on corporate M&A and fundraising), Sales & Trading (securities trading and product development in markets), Asset Management (managing assets for institutional investors and high-net-worth individuals), and Research (equity and economic research).

Internship Assignments: During summer internships, each student is assigned to a specific division based on preferences and aptitude. For example, IBD candidates might work on corporate acquisition case studies, while Markets division candidates might receive training on derivative products from dealers, providing hands-on experience in division-specific operations. Division assignments are determined either through pre-selection or during the selection process, with IBD and Markets (trading divisions) typically being the most popular choices. Goldman Sachs conducts common programs for all interns (lectures and networking events) while also engaging them in division-specific projects. For instance, interns in the Asset Management division typically begin with orientation, followed by lectures, roundtable discussions, and group work over several days, including interactions with employee mentors and practical exercises in actual investment case considerations. Meanwhile, IBD interns often work in teams to prepare fictional M&A proposal presentations, culminating in presentations to executives.

Examples of Work Content: Tasks vary by division. IBD interns typically support corporate financial analysis and valuation model creation, attend meetings, and learn about the M&A proposal process. In Markets (Sales & Trading), interns experience market analysis, trading simulations, and fictional portfolio construction, gaining exposure to real-time market dynamics. Asset Management interns may serve as portfolio manager assistants, practicing market research and product strategy development. Investment Research interns might be tasked with portions of corporate report creation or industry research under the guidance of analysts. Generally, interns are given responsible tasks and expected to contribute as members of small, elite teams.

Blackstone – Divisions and Work Content

Major Divisions: Blackstone is a global leader in alternative investments, with the following main business areas:

Private Equity (PE): Division focused on investments and acquisitions of private companies. In addition to traditional PE fund operations, the division is involved in all aspects from operational improvements to exit strategies (sale or IPO).
Real Estate Investment: One of the world's largest real estate investment management divisions. Actively manages investments across all real estate sectors including commercial buildings, residential properties, logistics facilities, hotels, and retail properties. Also handles core-plus strategies and real estate debt (mortgage) management, managing diverse assets globally.
Hedge Fund Solutions (BAAM): Division handling fund-of-funds operations that diversify investments across multiple hedge funds, as well as managing proprietary hedge fund strategies.
Credit: Investment business focused on corporate bonds, loans, and private credit. Manages funds specializing in credit markets.
Private Wealth Solutions (PWS): Emerging division that provides Blackstone's diverse alternative investment products to high-net-worth individuals and family offices. Partners with major private banks worldwide to package and deliver Blackstone products to wealthy clients.

Required Skills:

Blackstone internships particularly demand strong analytical abilities and self-initiative. Job postings explicitly state that "we seek highly motivated individuals with intellectual curiosity who approach every challenge as an opportunity for problem-solving," additionally emphasizing candidates who possess "strong analytical and quantitative skills, excellent communication abilities, attention to detail, and sound judgment." In practice, internship participants typically include students who have excellent academic records from top-tier universities and demonstrate genuine passion for investment and finance. The selection process prioritizes authentic enthusiasm rather than rehearsed responses, along with the ability to approach complex problems with logical reasoning.

3. Key Selection Strategy Points

Trends and Characteristics of Successful Candidates

Academic and Background Trends:

Successful candidates often come from prestigious universities worldwide. However, recruitment has become increasingly diverse, with students from regional state universities and returning international students also finding success. Notably, many successful candidates possess strong English proficiency and leadership experience. For instance, looking at past Goldman Sachs internship recipients, many had study abroad experience or leadership roles in university investment clubs. BlackRock and Blackstone offer recipients frequently include students who won investment competitions or gained extended internship experience at international financial firms during their studies. This suggests a trend where individuals demonstrating high commitment to the financial industry during their academic years tend to succeed in the selection process. Nevertheless, not all successful candidates have exceptional backgrounds; those who deeply engaged with and achieved results in seemingly ordinary experiences like seminar research or club activities can also be highly valued. Some observers note that "the key to succeeding in highly competitive selections is not outstanding specifications but personal appeal and enthusiasm," with offer recipients emphasizing the importance of "effectively communicating your personal character." In essence, successful candidates typically balance intellectual capability with personality, passion, and communication skills.

Common Personal Traits:

Among successful candidates, a balance between confidence and humility is commonly observed. They are neither overly assertive nor timid, but rather capable of clearly expressing their opinions with poise. Approaching interviews with calm and natural demeanor is crucial; one successful candidate noted that "maintaining genuineness is essential for succeeding in internship interviews; rather than tensely showcasing knowledge, focus on conveying your humanity." Thoroughness of preparation is another common characteristic. Without exception, successful candidates prepare meticulously, dedicating significant time to practicing written tests, mock interviews, and company research. By clearly articulating their motivations and value propositions for each company they apply to, they can provide consistent responses during interviews. Additionally, some exceptional candidates participate in multiple summer internships. For example, some students report "participating in internships at four global banks, one investment banking division, and one trading company," with such high achievers successfully passing selection processes for various companies from June onward, spending their summer actively engaged across firms. Given that the candidate pool includes these early movers who accumulate experience, starting preparation early is important to remain competitive.

Common Questions and Interview Preparation

Frequently Asked Questions:

Internship selection interviews typically include standard questions. Representative examples include self-introduction (personal statement), "motivation for applying (why investment banking/asset management, why our company)," "what you focused on during university (academic/extracurricular achievements)," and "strengths and weaknesses"—these are almost certain to be asked. In Goldman Sachs selections, straightforward questions like "What are you studying at university?" and "What have you worked hard on during your student life?" have been reported. BlackRock tends to ask about "what you want to learn from our internship" and "what kind of career path do you envision for yourself." While technical and specialized questions are less common, IBD candidates might face basic finance questions ("Please explain the relationship between the three financial statements" or "How would you value companies in this industry?"), and Markets division candidates might be asked about current events ("What market news are you following recently?"). At sophisticated investment firms like Blackstone, case questions such as "Assuming you're considering acquiring a company, what are the key points to examine?" or "What are the challenges in the real estate market?" may be posed to assess analytical thinking. However, these questions don't demand perfect answers; they aim to evaluate logical thinking processes and depth of interest.

Interview Preparation:

The foundation of interview preparation is developing a consistent narrative about your experiences, strengths, and motivations. Specifically, prepare a one-minute self-introduction speech in both English and your local language, and practice it repeatedly. For your motivation, clearly articulate for each company "why investment banking (or asset management)" and "why this particular firm among many," connecting your response to the company's strengths and culture. For example, if targeting Goldman Sachs, emphasize specifics such as "I'm attracted to their world-leading M&A track record and aspire to work on large-scale transactions myself." For BlackRock, express enthusiasm by noting "I'm drawn to both the long-term perspective in asset management and the utilization of technology, and wish to contribute to clients' wealth creation." Structure your academic and extracurricular achievements using the STAR method (Situation, Task, Action, Result), emphasizing how you overcame challenges and your role in teams. For instance, if you served as a captain in a university club activity, organize your story: "When the team was underperforming (Situation), I proposed and implemented reformed practice methods (Action), which led to championship victory in the regional tournament (Result), teaching me leadership and teamwork." When asked about weaknesses, respond honestly while adding efforts made toward improvement to create a positive impression.

English Interview Preparation:

At international firms, some or all interviews may be conducted in English. Since the basic questions are similar to those in your native language, practice the preparations outlined above in English as well. Create a set of anticipated questions and answers, write out your responses, and have them reviewed. For frequently asked questions like "Tell me about yourself," "Why do you want to join BlackRock?", and "What is your strength and weakness?", practice repeatedly until you can speak naturally in your own words rather than memorizing responses. Practicing mock interviews with online English conversation partners or international student friends can be effective. Also, familiarize yourself with financial terminology in English (e.g., equity, bond, financial statements) to ensure smooth communication.

Group Discussion Preparation:

Some companies may include group discussions in their selection process. In these settings, recruiters evaluate your balance of leadership and teamwork skills. Demonstrate value by drawing out others' opinions rather than dominating the conversation, while effectively managing time and guiding the discussion's direction. For practice, use case study collections to conduct mock group discussions with friends. While topics may vary from business strategies to current events, what's crucial is the ability to systematically lead the discussion to a conclusion on any given topic.

Recommended Learning and Preparation Methods

Company Research:

Review each company's official website, annual reports, and news releases to understand their business operations and recent developments. For Goldman Sachs, research recent major deals (M&A advisory achievements); for BlackRock, examine trends in assets under management and focus areas like ESG investments; for Blackstone, investigate recent investment activities in global markets (such as company acquisitions or major real estate purchases). This knowledge adds credibility to your motivation for applying.

Written Test Preparation:

Practice repeated drills with web-based assessment tests (such as Tamatebako, Kenexa, SHL, etc.) to train yourself to solve problems accurately within time limits. Analyze your weaknesses in numerical, verbal, and logical reasoning sections, and start preparing early. Familiarity is key for English comprehension and numerical sequence problems. Since companies like BlackRock and Goldman Sachs won't advance candidates to interviews if their test scores fall below certain thresholds, approach these tests with the mindset of scoring in the top few percentiles, not just focusing on application documents. Make full use of commercially available SPI-type practice books and web test preparation sites.

Interview Practice:

Repetition is extremely effective for mock interviews. Ask friends or career center advisors to help you practice repeatedly. For international firms, speaking clearly and confidently is valued just as much as the logic of your answers. Check your speaking style in front of a mirror or through recordings, and improve your smile, eye contact, and gestures. For video interviews (HireVue), practice repeatedly speaking to a webcam within time constraints. Alpha Advisors' coaching sometimes recommends preparing written answers to 100 anticipated questions (compiling frequently asked questions and being ready to answer any question with specific examples). Don't underestimate interviews in your native language - it can be surprisingly difficult to concisely express your thoughts even in your first language. Practice with a timer - delivering your motivation in 30 seconds and self-introduction in 1 minute - to train yourself to communicate key points succinctly.

Current Affairs Knowledge:

Daily news checks are essential. Read publications like the Financial Times (FT), Wall Street Journal (WSJ), and other financial newspapers to stay informed about markets and economic trends. In particular, be aware of Federal Reserve monetary policy, exchange rate movements, and trends in major stock indices, and ideally form your own opinions on these matters. If you're aiming for asset management, you may be asked about investment themes you're following (e.g., AI-related stocks, renewable energy investments). For investment banking aspirants, prepare to discuss a recent M&A or IPO case with your own perspective. It creates a good impression if you can explain, "I'm interested in Company X's acquisition of Company Y in the Z industry, and I believe the background and objectives are..." This is your opportunity to demonstrate passion for finance and intellectual curiosity during conversations with interviewers, so keep your antennae broadly tuned.

4. Required Qualifications

Is International Experience Necessary?

Not Required but Advantageous:

International experience (study abroad, overseas internships, international volunteering, etc.) is not a mandatory requirement for selection. Indeed, students from domestic universities successfully secure internships at global banks every year. However, international experience significantly helps demonstrate global orientation and adaptability to cultural diversity. From an interviewer's perspective, candidates with study abroad experience provide some assurance of English proficiency and cross-cultural adaptability. Additionally, articulating what you learned through international experiences (e.g., achieving results amidst diverse value systems, developing self-reliance) can provide supporting anecdotes of your personal growth. The critical factor is not the experience itself, but what you gained from it. Simply studying abroad without meaningful engagement offers little value, while conversely, without studying abroad, you can still demonstrate global mindset through activities like organizing international exchange events or participating in English presentation competitions domestically. At firms like BlackRock, employee backgrounds are diverse, with professionals from various academic disciplines and career paths thriving. Therefore, there's no need to be overly concerned about lacking international experience. You might be asked in interviews, "Do you have study abroad experience?" If not, answer honestly, and instead highlight activities like "I maintain my English proficiency by doing X" or "I engaged in Y activities with international participants domestically." What's important is demonstrating your readiness and interest in working in an international environment. For example, convey a positive attitude by stating, "While I haven't studied abroad yet, I would eagerly embrace opportunities for international assignments in the future."

Comparison with International University Graduates:

Internship applications at global firms sometimes involve competition with international university students. Particularly at firms with small recruitment numbers like Blackstone, applicants from prestigious global institutions (Harvard, Oxford, etc.) may be in the mix. However, companies ultimately evaluate individual capabilities and suitability rather than making decisions based solely on institutional prestige or impressive experiences. Domestic students can compete effectively if their language skills and intellectual capabilities are comparable. Without international experience, you can differentiate yourself through deep insights into local markets or advanced communication skills in the local language. For example, if you can present a unique perspective such as "I've researched pension fund management challenges in my country and want to apply this knowledge at BlackRock," this can be a competitive advantage against those with international experience. In conclusion, international experience is better to have but not essential; if lacking, it can be compensated for with other strengths.

Required Level of Finance and Accounting Knowledge

Acquire Basic Knowledge Beforehand:

While internship selections don't test advanced specialized knowledge, foundational understanding of finance and accounting should be acquired in advance. This is because written tests and interviews often subtly assess comprehension of basic terminology and concepts. For instance, if you're applying to an investment bank and cannot answer when asked, "Are you familiar with DCF valuation?" your interest might be questioned. At minimum, understand the structure of financial statements (relationship between income statement, balance sheet, and cash flow statement), types of financial instruments such as stocks, bonds, and derivatives, and be aware of current interest rates and stock price levels. If you haven't studied these topics, review university accounting or corporate finance lectures, or study introductory books on financial statement analysis. For asset management positions, also grasp mutual fund mechanisms, pension fund management approaches, and basic economic terminology (GDP, inflation rates, etc.). In BlackRock interviews, questions like "Please explain how central bank monetary policy affects the bond market" might arise. Connecting current economic and financial events with theoretical principles is highly valued.

Utilizing Knowledge in Interviews:

Importantly, internship interviews prioritize thought processes and interests over knowledge itself. For example, if asked to "explain the difference between stocks and bonds," there's no need to memorize textbook definitions verbatim. It's sufficient to capture key points in your own words: "Stocks represent ownership certificates in a company, while bonds are loans that generate interest income..." Following this, connecting to your personal interest through anecdotes such as "I actually manage a small portfolio of equities myself..." creates a stronger impression. Conversely, showcasing uncertain knowledge is inadvisable. As many successful candidates confirm, there's absolutely no need to stretch beyond your actual knowledge with superficial financial terminology. Randomly inserting technical jargon without context appears unnatural. After establishing your foundational knowledge, practice how to relate it to real-world topics. For instance, saying "I recently learned about M&A principles from X resource, and with that understanding, I found the recent acquisition of Company Y by Company Z interesting because of [specific insight]" demonstrates both knowledge and application skills. Since knowledge is necessary for success after securing an internship, ideally you would deepen your understanding through specialized books on corporate finance strategy and practice before summer begins. However, during the selection process, mastering fundamentals plus demonstrating curiosity is what matters most.

Impact of Investment Experience on Selection

An Indicator of Interest:

Personal investment experience (trading stocks or digital assets, investing in startups, etc.) is not mandatory but can serve as powerful supporting material for your application. Since investment banking and asset management fundamentally revolve around "how to grow money," having attempted investments yourself demonstrates passion and understanding of the industry. For example, even small-scale equity investments that have given you firsthand experience of market challenges and rewards can add depth to your motivation statement. Unique experiences such as "I became interested in cryptocurrencies during high school and invested in X coin myself" tend to be memorable to interviewers. For candidates applying to asset management firms like BlackRock, experiences such as "I established and managed a mock fund with my university seminar peers" would be highly regarded. However, lacking investment experience doesn't disadvantage you. Most students don't have substantial funds available, and there's no need to risk losses through forced investment activities. Essentially, investment experience is simply one method of demonstrating passion for finance.

Methods to Compensate if Lacking Investment Experience:

If you don't have investment experience, you can still demonstrate your interest in markets in other ways. For example, participating in "stock investment competitions with virtual portfolios," "tracking interesting stocks daily in financial newspapers and keeping notes," or "helping a family member select mutual funds for their investments" are all valuable indirect experiences. What's important is showing your proactive approach to engaging with markets and learning, and effectively communicating this approach. If asked in an interview, "Do you actually invest?", even without direct experience you can respond with "As a student with limited funds, I've managed a virtual portfolio in X investment competition, achieving Y% return over three months" or "I'm currently following Company Z, analyzing daily price movements and making hypothetical investment decisions based on my research." Such responses convey enthusiasm beyond mere inexperience. Conversely, those with investment experience should avoid emphasizing gambling-like aspects when discussing it. For instance, focusing solely on "I made X amount of profit" may appear superficial. Instead, emphasize the learning aspect: "I invested in the technology sector based on my belief in its future potential, and witnessing its growth validated my assessment." Additionally, honestly discussing failure experiences and what you learned from them (such as the importance of risk management) creates a favorable impression. Overall, investment experience is an advantage if you have it, but with creativity, its absence isn't a disadvantage. Remember that consistently demonstrating strong interest in finance is what truly matters.

6. Resources for Selection Preparation

Utilizing Alpha Advisors' Individual Coaching and AI Training Methods

Benefits of Individual Coaching:

Alpha Advisors is a career guidance service specializing in global finance recruitment, with a track record of successfully placing candidates at international banks and financial institutions. Their individual coaching provides one-on-one application review, interview practice, and case preparation with professional advisors. With advisors who have backgrounds at Goldman Sachs and BlackRock, their strength lies in offering concrete advice from an insider perspective. For example, when refining your motivation statement, you receive guidance on incorporating company-specific keywords (such as "integration of teamwork and leadership" for Goldman Sachs, or "One BlackRock culture" for BlackRock). In mock interviews, you can practice with over 100 frequently asked questions, receiving strategies for handling difficult pressure questions and feedback on English interview performance. Testimonials from successful candidates include statements like "I completed mock interviews almost daily, which helped me respond without nervousness during the actual interview." Professional advisors objectively identify and correct weaknesses that you might not recognize yourself, enabling rapid improvement in your selection performance. Individual coaching is particularly effective for those lacking confidence in their motivation statements or self-presentations, or those who have experienced multiple interview rejections without understanding why. Alpha Advisors offers free initial consultations, making it easy to explore their services as a starting point.

AI Training Program:

Alpha Advisors has recently introduced AI-powered career preparation tools. For example, Alpha's "Career Success AI" allows users to work on self-analysis, application documents, and interview practice through AI interaction. Specifically, for a monthly fee of $35 (excluding tax), there is a service that offers unlimited AI assistance for self-analysis, personal statements, application document review, and interview practice. Users can answer practice questions anytime they want, 24 hours a day, or input their application documents to receive improvement suggestions. For instance, when you input your "academic and extracurricular achievements," the AI provides feedback on logic and specificity, helping you refine your expression to be more compelling. The interview practice feature allows AI to act as an interviewer, asking questions and providing immediate evaluation and improvement points for your answers. This is particularly useful for brainstorming ideas and creating draft responses as you can practice without the nervousness of being observed by others. Clients receiving personalized coaching from Alpha are eligible for a 20% discount on this AI service. A hybrid approach—building fundamentals with AI training and having a human advisor review the final product—can be highly effective. The AI training is especially valuable for case interview preparation, allowing users to practice framework responses for consulting and Investment Banking Division case questions. Additionally, for video interview platforms like HireVue, users can have the AI analyze their recorded responses to receive feedback (on facial expressions, speaking pace, etc.). The strength of AI training lies in its ability to efficiently reinforce weak areas using cutting-edge technology. Of course, it's important not to blindly accept AI advice but to ultimately shape your responses in your own authentic style, using the AI as a tool to gain objective perspectives.

Effective Usage:

The key is to start personalized coaching or AI training early. Since internship selection processes typically concentrate in spring to early summer of the third year of university, working backward, you should begin serious preparation from winter of your second year to spring of your third year.

Translation with Modifications:

Starting this far in advance gives you a significant advantage. If you complete your self-analysis through AI training and draft your motivation statement before beginning personalized coaching, the coaching process will proceed more smoothly. During personalized coaching, set specific goals (e.g., "complete application documents by October," "conduct 5 mock interviews by the new year," etc.). You'll need to demonstrate initiative by openly absorbing feedback from each session and implementing improvements before the next one. Among Alpha Advisors' clients, there are many success stories like, "I received weekly training, worked on assigned tasks each time, and as a result, dramatically improved my application documents and interview skills." It's crucial to continue your own efforts while leveraging professional assistance. Beyond Alpha's services, utilize all available support resources such as requesting mock interviews from trusted seniors or those who have received offers, and making use of your university's career center. Job hunting is also an information game, so joining a network of specialists like Alpha gives you access to the latest selection information and awareness of other students' progress. Overall, an effective approach for securing competitive internships is to receive strategic and mental support through personalized coaching, while ensuring quantity and objectivity through AI training.

Helpful Books and Online Resources

Using Books:

Reading good books about the financial industry and selection processes deepens your understanding and builds confidence. For those aspiring to work in investment banking, recommended books covering everything from industry research to technical skills include: "Investment Banking Industry Research" (an introductory book on industry structure), "Goldman Sachs M&A Chronicles" (behind-the-scenes of major M&A deals written by a financial journalist, ideal for understanding IBD work), "Financial Statement Integration Method" and "MBA Valuation" (for systematically learning financial and valuation fundamentals). Financial statement-related books are especially designed to be understandable even with zero accounting knowledge, helping you respond calmly when faced with finance questions in interviews. "Cruel Diary of Wall Street: Those of Us Who Couldn't Become Monkeys" offers fascinating insights into international financial institutions' internal affairs and culture; mentioning this as part of your reading experience during casual interview conversation might spark engaging discussion. For those interested in asset management, books such as "A Random Walk Down Wall Street" (Burton Malkiel) and "Winning the Loser's Game" (Charles Ellis) are recommended for learning about index investing and institutional investment philosophy. Reading these deepens your understanding of long-term investment principles advocated by firms like BlackRock. Additionally, to learn economic and market basics, the "Nikkei Series" (on reading economic indicators, etc.) and "Mankiw Economics (Introduction)" are useful. Rather than becoming too absorbed in specialized books, it's better to read broadly across multiple sources to increase topics you can discuss in interviews.

Summary:

Summer internships at international investment banks and asset management firms offer an excellent opportunity to secure early job offers by overcoming intense competition. To succeed, it's important to understand the talent profile each company seeks (e.g., Goldman values innovation and teamwork) and connect your strengths to these qualities. Additionally, thorough early preparation is critical for success.
Being fully prepared for written tests and interviews is the most direct path to success. While gaining experience through internships at local companies in parallel, take time to identify your own aptitudes. Finally, fully utilize Alpha Advisors' specialized guidance, AI training programs, and the wealth of books and online information to develop your confidence and capabilities. With these preparations in place, even in the highly competitive internship selection processes of international banks and asset management firms, you should be able to secure a "winning offer." Good luck!

## 1. Summer Internship Details

### Application Requirements (Academic Background, Major, International Experience)

**Academic Background & Major:** Generally, internships target students approximately one year from graduation, typically juniors (third-year undergraduates) or first-year graduate students. Goldman Sachs states that "students enrolled in any year or department of four-year university programs or graduate schools" are eligible to apply, with no specific major requirements. BlackRock also welcomes students from various academic disciplines, explicitly stating that "major or field of study is not a factor." Similarly, Blackstone does not specify major requirements for applicants currently enrolled in universities or graduate programs. For their Tokyo recruitment, undergraduate students and master's degree candidates (with less than one year of professional experience for master's students) were eligible. All these firms recruit students with diverse academic backgrounds and do not require specific majors.

**Language Skills & International Experience:** Strong English proficiency is essential. Since both the selection process and actual work frequently require English usage, many successful applicants have study abroad experience or have taken courses at international universities. However, international experience itself is not a mandatory requirement. BlackRock accepts applications from students attending universities both domestically and internationally, while Goldman Sachs states they "recruit talented individuals from around the world." Therefore, even without study abroad or international enrollment experience, candidates who have developed English skills and a global perspective domestically can successfully apply. It is worth noting that many candidates who pass the selection process are bilingual, and demonstrating English proficiency through high scores on tests like TOEFL, IELTS, or other language proficiency examinations, or through international experience, can be advantageous.

**Graduation Timing:** Since interns typically join as full-time employees in the year following their internship, specific graduation timeframes are specified in recruitment notices. For BlackRock, eligible candidates were "those expected to graduate between August 2024 and July 2025" (essentially juniors and first-year master's students approaching graduation). Blackstone Tokyo allowed applications from students at domestic universities who were "expected to graduate between December 2025 and March 2027" (covering a range including second-year to third-year undergraduates). These graduation timeframe requirements vary by company, with Blackstone offering opportunities to students earlier in their academic careers.

**International Students:** Global financial institutions welcome applications from students enrolled at international universities for their regional offices, with BlackRock's recruitment information specifically mentioning eligibility for "international university students." While international students may have advantages in terms of language skills and diversity, many students from domestic universities also successfully pass the internship selection process. Regardless of where you study, you have opportunities if you can effectively showcase your strengths.

### Selection Process (Application Materials, Assessments, Interviews)

**Resume/CV Submission:** The process begins with online registration and submission of application materials. Most global firms require English-language resumes, with BlackRock specifically instructing candidates to "submit an English CV." Goldman Sachs also requires a standard application form, typically with deadlines set for mid to late June. Application content focuses on core elements such as motivation for applying, personal statement, and significant academic achievements. Applications for global financial institutions emphasize conciseness and logical structure, so prepare compelling content in both English and the local language where applicable.

**Written Exams/Online Assessments:** Candidates who pass the initial application screening face written examinations or online assessments. At Goldman Sachs, industry-standard online tests and proprietary numerical assessments follow the application stage, and candidates must pass both the application screening and online assessments to proceed to interviews. These written examinations are challenging, testing numerical analysis, English comprehension, and current affairs knowledge. Industry advisors note that "high scores on written examinations and online assessments are required, making it difficult to pass without preparation." Early preparation is recommended, with some students beginning their test preparation in winter of their sophomore year to achieve competitive scores. BlackRock may also administer online written assessments following the HireVue stage. For test preparation, practice with aptitude assessment tools and strengthen English reading comprehension skills.

**Video Interviews (HireVue):** Recently, many firms have implemented recorded video submissions (HireVue) as initial interviews. BlackRock requires candidates to "submit HireVue recorded interviews within 5 days" after application submission, with failure to do so resulting in disqualification. HireVue presents pre-recorded questions (in English and sometimes in the local language) to which applicants must record responses within time limits. Questions frequently cover self-introduction, motivation, career goals, and personal values. Effective preparation involves creating anticipated question-and-answer scenarios and practicing recordings multiple times. Goldman Sachs has also adopted HireVue in recent years, with video interviews reportedly serving as a gateway to Superday (final round candidate selection). Consequently, becoming comfortable with camera presence and presentation skills is important.

**Interviews (In-person or Virtual):** The final selection stages involve **multiple rounds of interviews**. After passing the HireVue stage, BlackRock typically schedules **several web interviews in both English and local language**, potentially including interviewers from departments other than the one you applied to. At Goldman Sachs, candidates usually face **2-3 rounds of interviews** (with some divisions conducting multiple interviews in a single day, known as "Superday" format). While **individual interviews are standard**, some firms may incorporate **group discussions or panel interviews**. In fact, one global investment bank conducted first-round interviews in a **group interview format**, where interviewers asked questions to multiple students in sequence. Interview content typically focuses on standard questions like "self-introduction and motivation" and "what elements are necessary for leadership?" In English interviews, questions like "Tell me about yourself" and "Why our firm?" are common. **Technical questions** in internship interviews are usually not extensively probed, often limited to basic financial knowledge assessment and simple case questions to evaluate analytical thinking. For example, in Blackstone's real estate team interviews, candidates may face simplified investment case studies to assess analytical abilities, but the specialized knowledge expected beforehand is typically limited to **understanding financial statements and DCF valuation concepts**.

**Final Evaluation:** Decisions are made based on comprehensive assessment of all stages. Goldman Sachs summer internships are **extremely competitive, with approximately 315,000 applicants worldwide for the Class of 2024 positions, resulting in an acceptance rate of just 0.9%**. Therefore, **flawless preparation from application through final interviews** is essential. Some internship participants who are deemed exceptional may **receive direct full-time offers on the spot**, and at minimum, often receive preferential treatment in the regular recruitment process (such as exemption from final interviews). Recognizing that **the internship selection process itself is as rigorous as full-time recruitment** is important, requiring a strategy to successfully clear each step.

# **Required Skills and Experience**

## **Academic Performance & Intellectual Capability:** 
Top global firms prioritize **strong intellectual capacity**, requiring **high academic achievement and logical thinking skills**. Goldman Sachs, in particular, operates on the belief that "talented people are the company's greatest asset," and **recruits diverse talent worldwide**, expecting the intellectual ability to handle complex problems. The need for high scores on written assessments underscores the importance of mathematical aptitude and problem-solving abilities.

## **Language Proficiency:** 
**Bilingual proficiency in English and the local language** is virtually essential. With English frequently used in daily operations and interviews often containing English questions, high **TOEFL, IELTS, or other language proficiency scores** are advantageous. At BlackRock, where interns may work on joint projects with international office interns, **English communication skills for global collaboration** are particularly valued.

## **Interpersonal Skills & Leadership:** 
**Teamwork and communication abilities** are key evaluation criteria. Goldman Sachs' published candidate profile includes individuals who can "show consideration for colleagues and collaborate as team members," with internships testing cooperation and awareness of others. Leadership experience is valuable for applications, but rather than emphasizing titles, it's more important to **demonstrate specifically how you achieved goals with others**.

## **Financial Knowledge & Industry Understanding:** 
**Advanced financial engineering or accounting knowledge is not mandatory** at the internship application stage. In fact, past successful candidates have reported, "I don't think financial knowledge is demanded in internship interviews. There's no need to appeal with superficial knowledge." Interviewers focus more on **potential and character** rather than knowledge volume, and answering within the scope of your university major or self-study is sufficient. However, to demonstrate **passion for the industry**, understanding basic terminology (stocks, bonds, M&A, valuation, etc.) is recommended. Since the selection process may include **reading IR materials or simple cases**, learning how to read financial statements and current market trends beforehand is advisable. Regarding **personal investment experience**, this can be a strength if you have it. For example, experience with stock investments or managing virtual portfolios allows you to concretely discuss your "passion for finance." However, **there's no need to artificially create investment experience**; instead, regularly follow market news in financial publications like the Financial Times or Bloomberg, and be prepared to discuss **"stocks or economic topics you're watching"**. Questions like "What economic news has caught your attention recently?" are common in actual interviews, making it important to cultivate an **interest in financial markets** on a regular basis.

# 2. Departmental Structures at Each Firm

Each company has **several departments that accept interns**, with job content and required skills varying by division. Below is an overview of the main departments and their functions at each firm that offer internship opportunities.

## Goldman Sachs – Divisions and Work Content

**Major Divisions:** Goldman Sachs operates across diverse business areas including **Investment Banking Division (IBD)**, **Global Markets Division (Sales & Trading)**, **Asset Management Division**, and **Investment Research Division**. The global offices maintain similar structures with IBD (advising on corporate M&A and fundraising), Sales & Trading (securities trading and product development in markets), Asset Management (managing assets for institutional investors and high-net-worth individuals), and Research (equity and economic research).

**Internship Assignments:** During summer internships, **each student is assigned to a specific division** based on preferences and aptitude. For example, IBD candidates might work on corporate acquisition case studies, while Markets division candidates might receive training on derivative products from dealers, providing **hands-on experience in division-specific operations**. Division assignments are determined either through pre-selection or during the selection process, with **IBD and Markets (trading divisions) typically being the most popular choices**. Goldman Sachs conducts common programs for all interns (lectures and networking events) while also engaging them in division-specific projects. For instance, interns in the Asset Management division typically begin with orientation, followed by lectures, roundtable discussions, and group work over several days, including interactions with employee mentors and practical exercises in actual investment case considerations. Meanwhile, IBD interns often work in teams to **prepare fictional M&A proposal presentations**, culminating in presentations to executives.

**Examples of Work Content:** Tasks vary by division. IBD interns typically **support corporate financial analysis and valuation model creation**, attend meetings, and learn about the M&A proposal process. In Markets (Sales & Trading), interns experience **market analysis, trading simulations**, and fictional portfolio construction, gaining exposure to real-time market dynamics. Asset Management interns may serve as **portfolio manager assistants**, practicing market research and product strategy development. Investment Research interns might be tasked with portions of **corporate report creation** or industry research under the guidance of analysts. Generally, **interns are given responsible tasks and expected to contribute as members of small, elite teams**.

## Blackstone – Divisions and Work Content

**Major Divisions:** Blackstone is a global leader in **alternative investments**, with the following main business areas:

* **Private Equity (PE):** Division focused on investments and acquisitions of private companies. In addition to traditional PE fund operations, the division is involved in all aspects from operational improvements to exit strategies (sale or IPO).

* **Real Estate Investment:** One of the world's largest real estate investment management divisions. Actively manages investments across all real estate sectors including commercial buildings, residential properties, logistics facilities, hotels, and retail properties. Also handles core-plus strategies and real estate debt (mortgage) management, **managing diverse assets globally**.

* **Hedge Fund Solutions (BAAM):** Division handling fund-of-funds operations that diversify investments across multiple hedge funds, as well as managing proprietary hedge fund strategies.

* **Credit:** Investment business focused on corporate bonds, loans, and private credit. Manages funds specializing in credit markets.

* **Private Wealth Solutions (PWS):** Emerging division that provides Blackstone's diverse alternative investment products to **high-net-worth individuals and family offices**. Partners with major private banks worldwide to package and deliver Blackstone products to wealthy clients.

## **Required Skills:**
Blackstone internships particularly demand **strong analytical abilities and self-initiative**. Job postings explicitly state that "we seek highly motivated individuals with intellectual curiosity who approach every challenge as an opportunity for problem-solving," additionally emphasizing candidates who possess "strong analytical and quantitative skills, excellent communication abilities, attention to detail, and sound judgment." In practice, internship participants typically include students who have **excellent academic records from top-tier universities** and **demonstrate genuine passion for investment and finance**. The selection process prioritizes **authentic enthusiasm rather than rehearsed responses**, along with the ability to approach complex problems with logical reasoning.

# **3. Key Selection Strategy Points**

## **Trends and Characteristics of Successful Candidates**

### **Academic and Background Trends:**
Successful candidates often come from **prestigious universities worldwide**. However, recruitment has become increasingly diverse, with students from regional state universities and returning international students also finding success. Notably, many successful candidates possess **strong English proficiency and leadership experience**. For instance, looking at past Goldman Sachs internship recipients, many had **study abroad experience or leadership roles in university investment clubs**. BlackRock and Blackstone offer recipients frequently include students who **won investment competitions** or gained **extended internship experience at international financial firms** during their studies. This suggests a trend where **individuals demonstrating high commitment to the financial industry during their academic years** tend to succeed in the selection process. Nevertheless, not all successful candidates have exceptional backgrounds; those who **deeply engaged with and achieved results in seemingly ordinary experiences** like seminar research or club activities can also be highly valued. Some observers note that "the key to succeeding in highly competitive selections is not outstanding specifications but **personal appeal and enthusiasm**," with offer recipients emphasizing the importance of "effectively communicating your personal character." In essence, successful candidates typically balance **intellectual capability with personality, passion, and communication skills**.

### **Common Personal Traits:**
Among successful candidates, a **balance between confidence and humility** is commonly observed. They are neither overly assertive nor timid, but rather **capable of clearly expressing their opinions with poise**. Approaching interviews with **calm and natural demeanor** is crucial; one successful candidate noted that "maintaining genuineness is essential for succeeding in internship interviews; rather than tensely showcasing knowledge, focus on conveying your humanity." **Thoroughness of preparation** is another common characteristic. Without exception, successful candidates prepare meticulously, dedicating significant time to practicing written tests, mock interviews, and company research. By clearly articulating their **motivations and value propositions** for each company they apply to, they can provide consistent responses during interviews. Additionally, some exceptional candidates participate in multiple summer internships. For example, some students report "participating in internships at four global banks, one investment banking division, and one trading company," with such high achievers **successfully passing selection processes for various companies from June onward, spending their summer actively engaged across firms**. Given that the candidate pool includes these **early movers who accumulate experience**, starting preparation early is important to remain competitive.

## **Common Questions and Interview Preparation**

### **Frequently Asked Questions:**
Internship selection interviews typically include **standard questions**. Representative examples include **self-introduction (personal statement)**, "**motivation for applying** (why investment banking/asset management, why our company)," "**what you focused on during university (academic/extracurricular achievements)**," and "**strengths and weaknesses**"—these are almost certain to be asked. In Goldman Sachs selections, **straightforward questions** like "What are you studying at university?" and "What have you worked hard on during your student life?" have been reported. BlackRock tends to ask about "what you want to learn from our internship" and "what kind of career path do you envision for yourself." While technical and specialized questions are less common, **IBD candidates might face basic finance questions** ("Please explain the relationship between the three financial statements" or "How would you value companies in this industry?"), and **Markets division candidates might be asked about current events** ("What market news are you following recently?"). At sophisticated investment firms like Blackstone, **case questions** such as "Assuming you're considering acquiring a company, what are the key points to examine?" or "What are the challenges in the real estate market?" may be posed to assess analytical thinking. However, these questions don't demand perfect answers; they aim to evaluate **logical thinking processes and depth of interest**.

### **Interview Preparation:**
The foundation of interview preparation is developing a consistent narrative about your **experiences, strengths, and motivations**. Specifically, prepare a **one-minute self-introduction speech** in both English and your local language, and practice it repeatedly. For your motivation, clearly articulate for each company "why investment banking (or asset management)" and "why this particular firm among many," connecting your response to the company's strengths and culture. For example, if targeting Goldman Sachs, emphasize specifics such as "**I'm attracted to their world-leading M&A track record and aspire to work on large-scale transactions myself**." For BlackRock, express enthusiasm by noting "**I'm drawn to both the long-term perspective in asset management and the utilization of technology, and wish to contribute to clients' wealth creation**." Structure your academic and extracurricular achievements using the STAR method (Situation, Task, Action, Result), emphasizing how you overcame challenges and your role in teams. For instance, if you served as a captain in a university club activity, organize your story: "When the team was underperforming (Situation), I proposed and implemented reformed practice methods (Action), which led to championship victory in the regional tournament (Result), teaching me leadership and teamwork." When asked about **weaknesses**, respond honestly while adding efforts made toward improvement to create a positive impression.

### **English Interview Preparation:**
At international firms, **some or all interviews may be conducted in English**. Since the basic questions are similar to those in your native language, practice the preparations outlined above in English as well. Create a set of anticipated questions and answers, write out your responses, and have them reviewed. For frequently asked questions like "Tell me about yourself," "Why do you want to join BlackRock?", and "What is your strength and weakness?", practice repeatedly until you can **speak naturally in your own words** rather than memorizing responses. Practicing mock interviews with online English conversation partners or international student friends can be effective. Also, familiarize yourself with financial terminology in English (e.g., equity, bond, financial statements) to ensure smooth communication.

### **Group Discussion Preparation:**
Some companies may include group discussions in their selection process. In these settings, recruiters evaluate your **balance of leadership and teamwork skills**. Demonstrate value by drawing out others' opinions rather than dominating the conversation, while effectively managing time and guiding the discussion's direction. For practice, use case study collections to conduct mock group discussions with friends. While topics may vary from business strategies to current events, what's crucial is **the ability to systematically lead the discussion to a conclusion on any given topic**.

## **Recommended Learning and Preparation Methods**

### **Company Research:**
Review each company's official website, annual reports, and news releases to understand their **business operations and recent developments**. For Goldman Sachs, research recent major deals (M&A advisory achievements); for BlackRock, examine trends in assets under management and focus areas like ESG investments; for Blackstone, investigate recent investment activities in global markets (such as company acquisitions or major real estate purchases). This knowledge adds credibility to your motivation for applying.

## **Written Test Preparation:**
Practice repeated drills with web-based assessment tests (such as Tamatebako, Kenexa, SHL, etc.) to **train yourself to solve problems accurately within time limits**. Analyze your weaknesses in numerical, verbal, and logical reasoning sections, and start preparing early. Familiarity is key for English comprehension and numerical sequence problems. Since companies like BlackRock and Goldman Sachs won't advance candidates to interviews if their test scores fall below certain thresholds, **approach these tests with the mindset of scoring in the top few percentiles, not just focusing on application documents**. Make full use of commercially available SPI-type practice books and web test preparation sites.

## **Interview Practice:**
**Repetition is extremely effective** for mock interviews. Ask friends or career center advisors to help you practice repeatedly. For international firms, **speaking clearly and confidently** is valued just as much as the logic of your answers. Check your speaking style in front of a mirror or through recordings, and improve your smile, eye contact, and gestures. For video interviews (HireVue), practice repeatedly speaking to a webcam within time constraints. Alpha Advisors' coaching sometimes recommends **preparing written answers to 100 anticipated questions** (compiling frequently asked questions and being ready to answer any question with specific examples). **Don't underestimate interviews in your native language** - it can be surprisingly difficult to concisely express your thoughts even in your first language. Practice **with a timer** - delivering your motivation in 30 seconds and self-introduction in 1 minute - to train yourself to communicate key points succinctly.

## **Current Affairs Knowledge:**
Daily news checks are essential. Read publications like the Financial Times (FT), Wall Street Journal (WSJ), and other financial newspapers to stay informed about markets and economic trends. In particular, be aware of **Federal Reserve monetary policy, exchange rate movements, and trends in major stock indices**, and ideally form your own opinions on these matters. If you're aiming for asset management, you may be asked about **investment themes you're following** (e.g., AI-related stocks, renewable energy investments). For investment banking aspirants, prepare to discuss a recent M&A or IPO case with your own perspective. It creates a good impression if you can explain, "I'm interested in Company X's acquisition of Company Y in the Z industry, and I believe the background and objectives are..." This is your opportunity to demonstrate **passion for finance and intellectual curiosity** during conversations with interviewers, so keep your antennae broadly tuned.

# **4. Required Qualifications**

## **Is International Experience Necessary?**

### **Not Required but Advantageous:**
International experience (study abroad, overseas internships, international volunteering, etc.) is **not a mandatory requirement for selection**. Indeed, students from domestic universities successfully secure internships at global banks every year. However, international experience significantly helps demonstrate **global orientation and adaptability to cultural diversity**. From an interviewer's perspective, candidates with study abroad experience provide some assurance of English proficiency and cross-cultural adaptability. Additionally, articulating what you learned through international experiences (e.g., achieving results amidst diverse value systems, developing self-reliance) can provide **supporting anecdotes of your personal growth**. The critical factor is **not the experience itself, but what you gained from it**. Simply studying abroad without meaningful engagement offers little value, while conversely, without studying abroad, you can still demonstrate **global mindset through activities** like organizing international exchange events or participating in English presentation competitions domestically. At firms like BlackRock, employee backgrounds are diverse, with professionals from various academic disciplines and career paths thriving. Therefore, there's no need to be overly concerned about lacking international experience. You might be asked in interviews, "Do you have study abroad experience?" If not, answer honestly, and instead highlight activities like **"I maintain my English proficiency by doing X"** or **"I engaged in Y activities with international participants domestically."** What's important is **demonstrating your readiness and interest in working in an international environment**. For example, convey a positive attitude by stating, "While I haven't studied abroad yet, I would eagerly embrace opportunities for international assignments in the future."

### **Comparison with International University Graduates:**
Internship applications at global firms sometimes involve competition with international university students. Particularly at firms with small recruitment numbers like Blackstone, applicants from prestigious global institutions (Harvard, Oxford, etc.) may be in the mix. However, **companies ultimately evaluate individual capabilities and suitability** rather than making decisions based solely on institutional prestige or impressive experiences. Domestic students can compete effectively if their language skills and intellectual capabilities are comparable. Without international experience, you can differentiate yourself through **deep insights into local markets** or **advanced communication skills in the local language**. For example, if you can present a unique perspective such as "I've researched pension fund management challenges in my country and want to apply this knowledge at BlackRock," this can be a competitive advantage against those with international experience. In conclusion, **international experience is better to have but not essential; if lacking, it can be compensated for with other strengths**.

## **Required Level of Finance and Accounting Knowledge**

### **Acquire Basic Knowledge Beforehand:**
While internship selections don't test advanced specialized knowledge, **foundational understanding of finance and accounting should be acquired in advance**. This is because written tests and interviews often subtly assess **comprehension of basic terminology and concepts**. For instance, if you're applying to an investment bank and cannot answer when asked, "Are you familiar with DCF valuation?" your interest might be questioned. At minimum, understand **the structure of financial statements** (relationship between income statement, balance sheet, and cash flow statement), **types of financial instruments** such as stocks, bonds, and derivatives, and be aware of **current interest rates and stock price levels**. If you haven't studied these topics, review university accounting or corporate finance lectures, or study introductory books on financial statement analysis. For asset management positions, also grasp **mutual fund mechanisms, pension fund management approaches, and basic economic terminology** (GDP, inflation rates, etc.). In BlackRock interviews, questions like "Please explain how central bank monetary policy affects the bond market" might arise. **Connecting current economic and financial events with theoretical principles** is highly valued.

# **Utilizing Knowledge in Interviews:**
Importantly, **internship interviews prioritize thought processes and interests over knowledge itself**. For example, if asked to "explain the difference between stocks and bonds," there's no need to memorize textbook definitions verbatim. It's sufficient to capture key points in your own words: "Stocks represent ownership certificates in a company, while bonds are loans that generate interest income..." Following this, connecting to your personal interest through anecdotes such as "I actually manage a small portfolio of equities myself..." creates a stronger impression. Conversely, **showcasing uncertain knowledge is inadvisable**. As many successful candidates confirm, there's absolutely no need to stretch beyond your actual knowledge with superficial financial terminology. Randomly inserting technical jargon without context appears unnatural. After establishing your foundational knowledge, practice **how to relate it to real-world topics**. For instance, saying "I recently learned about M&A principles from X resource, and with that understanding, I found the recent acquisition of Company Y by Company Z interesting because of [specific insight]" demonstrates both knowledge and application skills. Since knowledge is necessary for success after securing an internship, ideally you would deepen your understanding through specialized books on corporate finance strategy and practice before summer begins. However, during the selection process, **mastering fundamentals plus demonstrating curiosity** is what matters most.

# **Impact of Investment Experience on Selection**

## **An Indicator of Interest:**
**Personal investment experience (trading stocks or digital assets, investing in startups, etc.) is not mandatory but can serve as powerful supporting material for your application**. Since investment banking and asset management fundamentally revolve around "how to grow money," having attempted investments yourself demonstrates passion and understanding of the industry. For example, even small-scale equity investments that have given you firsthand experience of market challenges and rewards can add depth to your motivation statement. Unique experiences such as "I became interested in cryptocurrencies during high school and invested in X coin myself" tend to be memorable to interviewers. For candidates applying to asset management firms like BlackRock, experiences such as "I established and managed a mock fund with my university seminar peers" would be highly regarded. However, lacking investment experience doesn't disadvantage you. Most students don't have substantial funds available, and there's no need to risk losses through forced investment activities. Essentially, investment experience is simply **one method of demonstrating passion for finance**.

## **Methods to Compensate if Lacking Investment Experience:**
If you don't have investment experience, you can still **demonstrate your interest in markets in other ways**. For example, participating in "stock investment competitions with virtual portfolios," "tracking interesting stocks daily in financial newspapers and keeping notes," or "helping a family member select mutual funds for their investments" are all valuable indirect experiences. What's important is **showing your proactive approach to engaging with markets and learning**, and effectively communicating this approach. If asked in an interview, "Do you actually invest?", even without direct experience you can respond with "As a student with limited funds, I've managed a virtual portfolio in X investment competition, achieving Y% return over three months" or "I'm currently following Company Z, analyzing daily price movements and making hypothetical investment decisions based on my research." Such responses **convey enthusiasm beyond mere inexperience**. Conversely, those with investment experience should **avoid emphasizing gambling-like aspects** when discussing it. For instance, focusing solely on "I made X amount of profit" may appear superficial. Instead, emphasize the learning aspect: "I invested in the technology sector based on my belief in its future potential, and witnessing its growth validated my assessment." Additionally, honestly discussing failure experiences and what you learned from them (such as the importance of risk management) creates a favorable impression. Overall, **investment experience is an advantage if you have it, but with creativity, its absence isn't a disadvantage**. Remember that consistently demonstrating strong interest in finance is what truly matters.

# **6. Resources for Selection Preparation**

## **Utilizing Alpha Advisors' Individual Coaching and AI Training Methods**

### **Benefits of Individual Coaching:**
Alpha Advisors is a career guidance service specializing in global finance recruitment, with a track record of successfully placing candidates at international banks and financial institutions. Their individual coaching provides **one-on-one application review, interview practice, and case preparation with professional advisors**. With advisors who have backgrounds at Goldman Sachs and BlackRock, their strength lies in offering **concrete advice from an insider perspective**. For example, when refining your motivation statement, you receive guidance on incorporating company-specific keywords (such as "integration of teamwork and leadership" for Goldman Sachs, or "One BlackRock culture" for BlackRock). In mock interviews, you can practice with over 100 frequently asked questions, receiving **strategies for handling difficult pressure questions** and **feedback on English interview performance**. Testimonials from successful candidates include statements like "I completed mock interviews almost daily, which helped me respond without nervousness during the actual interview." **Professional advisors objectively identify and correct weaknesses that you might not recognize yourself**, enabling rapid improvement in your selection performance. Individual coaching is particularly effective for those lacking confidence in their motivation statements or self-presentations, or those who have experienced multiple interview rejections without understanding why. Alpha Advisors offers free initial consultations, making it easy to explore their services as a starting point.

### **AI Training Program:**
Alpha Advisors has recently introduced **AI-powered career preparation tools**. For example, Alpha's "Career Success AI" allows users to work on self-analysis, application documents, and interview practice through AI interaction. Specifically, for a monthly fee of $35 (excluding tax), there is a service that offers **unlimited AI assistance for self-analysis, personal statements, application document review, and interview practice**. Users can answer practice questions anytime they want, 24 hours a day, or input their application documents to receive improvement suggestions. For instance, when you input your "academic and extracurricular achievements," the AI provides feedback on logic and specificity, helping you refine your expression to be more compelling. The interview practice feature allows AI to act as an interviewer, asking questions and providing immediate evaluation and improvement points for your answers. This is particularly useful for brainstorming ideas and creating draft responses as you can **practice without the nervousness of being observed by others**. Clients receiving personalized coaching from Alpha are eligible for a 20% discount on this AI service. A hybrid approach—building fundamentals with AI training and having a human advisor review the final product—can be highly effective. The AI training is especially valuable for **case interview preparation**, allowing users to practice framework responses for consulting and Investment Banking Division case questions. Additionally, for video interview platforms like HireVue, users can have the AI analyze their recorded responses to receive feedback (on facial expressions, speaking pace, etc.). The strength of AI training lies in its ability to **efficiently reinforce weak areas using cutting-edge technology**. Of course, it's important not to blindly accept AI advice but to ultimately shape your responses in your own authentic style, using the AI as a tool to gain objective perspectives.

### **Effective Usage:**
The key is to **start personalized coaching or AI training early**. Since internship selection processes typically concentrate in spring to early summer of the third year of university, working backward, you should begin serious preparation from winter of your second year to spring of your third year.

### **Translation with Modifications:**

Starting this far in advance gives you a significant advantage. If you complete your self-analysis through AI training and draft your motivation statement before beginning personalized coaching, the coaching process will proceed more smoothly. During personalized coaching, **set specific goals** (e.g., "complete application documents by October," "conduct 5 mock interviews by the new year," etc.). You'll need to demonstrate initiative by openly absorbing feedback from each session and implementing improvements before the next one. Among Alpha Advisors' clients, there are many success stories like, "I received weekly training, worked on assigned tasks each time, and as a result, dramatically improved my application documents and interview skills." It's crucial to **continue your own efforts while leveraging professional assistance**. Beyond Alpha's services, **utilize all available support resources** such as requesting mock interviews from trusted seniors or those who have received offers, and making use of your university's career center. Job hunting is also an information game, so joining a network of specialists like Alpha gives you access to **the latest selection information and awareness of other students' progress**. Overall, an effective approach for securing competitive internships is to receive **strategic and mental support** through personalized coaching, while ensuring **quantity and objectivity** through AI training.

# **Helpful Books and Online Resources**
## **Using Books:** 
Reading good books about the financial industry and selection processes deepens your understanding and builds confidence. For those aspiring to work in investment banking, recommended books covering everything from industry research to technical skills include: "**Investment Banking Industry Research**" (an introductory book on industry structure), "**Goldman Sachs M&A Chronicles**" (behind-the-scenes of major M&A deals written by a financial journalist, ideal for understanding IBD work), "**Financial Statement Integration Method**" and "**MBA Valuation**" (for systematically learning financial and valuation fundamentals). Financial statement-related books are especially **designed to be understandable even with zero accounting knowledge**, helping you respond calmly when faced with finance questions in interviews. "**Cruel Diary of Wall Street: Those of Us Who Couldn't Become Monkeys**" offers fascinating insights into international financial institutions' internal affairs and culture; mentioning this as part of your reading experience during casual interview conversation might spark engaging discussion. For those interested in asset management, books such as "**A Random Walk Down Wall Street**" (Burton Malkiel) and "**Winning the Loser's Game**" (Charles Ellis) are recommended for learning about **index investing and institutional investment philosophy**. Reading these deepens your understanding of long-term investment principles advocated by firms like BlackRock. Additionally, to learn **economic and market basics**, the "Nikkei Series" (on reading economic indicators, etc.) and "Mankiw Economics (Introduction)" are useful. Rather than becoming too absorbed in specialized books, it's better to read broadly across multiple sources to increase topics you can discuss in interviews.

# **Summary:**
Summer internships at international investment banks and asset management firms offer an excellent opportunity to secure early job offers by overcoming intense competition. To succeed, it's important to **understand the talent profile each company seeks (e.g., Goldman values innovation and teamwork) and connect your strengths to these qualities**. Additionally, **thorough early preparation** is critical for success.
Being fully prepared for written tests and interviews is the most direct path to success. While gaining experience through internships at local companies in parallel, take time to identify your own aptitudes. Finally, fully utilize Alpha Advisors' specialized guidance, AI training programs, and the wealth of books and online information to develop your confidence and capabilities. With these preparations in place, even in the highly competitive internship selection processes of international banks and asset management firms, you should be able to secure a "winning offer." Good luck!

Mon, 17 Mar 2025 15:52:37 +0900

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1. Alpha Individual Coaching starts with a free consultation!

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2. After learning about your situation in the free consultation chat, our office will recommend the best individual coaching plan!

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3. Once you've chosen your desired course, you can apply for individual coaching.

The entire application process can be completed online.

4. Begin Individual Coaching!

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Let's achieve overwhelming success and lead the best life you can be proud of!

# Interested? Schedule a free consultation now!
# Click here for free consultation! > [Free Consultation](https://global.alpha-academy.com/)
Consult with a "top advisor" as soon as possible to discover your path to success and achieve your goals! If you're interested in individual advisory services, free consultations are available! After registration, you can access free consultations through the "Free Consultation Chat" in "My Page." For immediate questions or consultations, you can also use the chat feature in the bottom right of the page!
# 1. Alpha Individual Coaching starts with a free consultation!
Share your situation and concerns via our free consultation chat!
# Click here for free consultation! > [Free Consultation](https://global.alpha-academy.com/)
# 2. After learning about your situation in the free consultation chat, our office will recommend the best individual coaching plan!
Includes course discounts and free access to Alpha Notes!
# 3. Once you've chosen your desired course, you can apply for individual coaching.
The entire application process can be completed online.
# 4. Begin Individual Coaching!
- Kickoff meeting with your advisor!
- After kickoff, ask questions and consult anytime via individual coaching chat - available 24 hours!
- Top advisors accompany you toward goal achievement!
- Weekly reports keep your advisor updated on your situation for optimal advice!

# Achieve overwhelming success and lead a life you can be proud of!

# Click here for free consultation! > [Free Consultation](https://global.alpha-academy.com/)

# Interested in Alpha Advisors' individual advisory services? Contact us now for a free consultation!

# Click here for free consultation! > [Free Consultation](https://global.alpha-academy.com/)

**Let's achieve overwhelming success and lead the best life you can be proud of!**

Mon, 17 Mar 2025 15:53:11 +0900

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Top 5 Knowhows

Career Supportのプログラムをお気に入りしましょう。

MBA & Graduate School

Career Support

How to Secure Summer Internships at Goldman Sachs, BlackRock, and Global Investment Banks?

1. Summer Internship Details

Application Requirements (Academic Background, Major, International Experience)

Selection Process (Application Materials, Assessments, Interviews)

Required Skills and Experience

Academic Performance & Intellectual Capability:

Language Proficiency:

Interpersonal Skills & Leadership:

Financial Knowledge & Industry Understanding:

2. Departmental Structures at Each Firm

Goldman Sachs – Divisions and Work Content

Blackstone – Divisions and Work Content

Required Skills:

3. Key Selection Strategy Points

Trends and Characteristics of Successful Candidates

Academic and Background Trends:

Common Personal Traits:

Common Questions and Interview Preparation

Frequently Asked Questions:

Interview Preparation:

English Interview Preparation:

Group Discussion Preparation:

Recommended Learning and Preparation Methods

Company Research:

Written Test Preparation:

Interview Practice:

Current Affairs Knowledge:

4. Required Qualifications

Is International Experience Necessary?

Not Required but Advantageous:

Comparison with International University Graduates:

Required Level of Finance and Accounting Knowledge

Acquire Basic Knowledge Beforehand:

Utilizing Knowledge in Interviews:

Impact of Investment Experience on Selection

An Indicator of Interest:

Methods to Compensate if Lacking Investment Experience:

6. Resources for Selection Preparation

Utilizing Alpha Advisors' Individual Coaching and AI Training Methods

Benefits of Individual Coaching:

AI Training Program:

Effective Usage:

Translation with Modifications:

Helpful Books and Online Resources

Using Books:

Summary:

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Click here for free consultation! > Free Consultation

1. Alpha Individual Coaching starts with a free consultation!

Click here for free consultation! > Free Consultation

2. After learning about your situation in the free consultation chat, our office will recommend the best individual coaching plan!

3. Once you've chosen your desired course, you can apply for individual coaching.

4. Begin Individual Coaching!

Achieve overwhelming success and lead a life you can be proud of!

Click here for free consultation! > Free Consultation

Interested in Alpha Advisors' individual advisory services? Contact us now for a free consultation!

Click here for free consultation! > Free Consultation

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Top 5 Knowhows

Top 5 Advisory

【Alpha Advisors Job Hunting Support to succeed in your job hunting at McKinsey, Goldman Sachs, P&G, and Apple!】 Alpha is the best supporter if you're aiming for offers from investment banks, consulting firms, asset management, and MAG7!

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