Introduction
The investment banking and investment management world moves quickly — and for aspiring junior analysts, a single summer internship can be a career-defining moment. Guggenheim Partners’ Investment Banking Division (IBD) Summer Analyst Program has become known for combining high-caliber deal experience with mentorship, technical training, and exposure to a broad network of senior professionals. With applications now open for the 2020 Junior Investment Analyst Summer Intern Program, candidates should prepare to position themselves strategically: highlight finance fundamentals, demonstrate curiosity and cultural fit, and show that they can contribute immediately.
This article is a comprehensive guide to the Guggenheim IBD Summer Analyst Program — what it is, who should apply, what the role typically entails, how to prepare a standout application, interview tips, potential career trajectories after the internship, and practical insights from alumni experiences. Whether you are a finance major, an economics student, or a liberal arts scholar with quantitative credentials, this guide will help you decide whether you should apply and how to make your candidacy as competitive as possible.
What is the Guggenheim IBD Summer Analyst Program?
Guggenheim’s IBD Summer Analyst Program is a structured internship that typically runs over the summer and is designed to give students hands-on experience in investment banking and capital markets activities. Interns — often called Junior Investment Analysts or Summer Analysts — work alongside deal teams on live transactions, conduct financial analysis, build valuation models, draft pitch materials, and perform industry and company research. The goal is to provide interns with both technical rigor and the soft skills necessary to thrive in client-facing finance roles.
What distinguishes Guggenheim’s program is its emphasis on boutique yet high-impact deal exposure. Unlike some large banks where interns sometimes spend long stretches on non-deal tasks, Guggenheim often places interns on smaller teams where their contributions have visible effects on project outcomes. The culture typically underscores intellectual curiosity, teamwork, and a results-oriented mindset.
Who should apply?
The program attracts a diverse applicant pool, including rising juniors (for the traditional summer analyst timeline), rising seniors seeking post-graduate internships, and students from non-finance disciplines who have taken finance, accounting, or quantitative coursework. Ideal applicants generally possess:
- Strong academic performance (GPA matters but is one part of the story).
- Solid quantitative and analytical skills — comfortable with Excel and basic financial modeling.
- Clear interest in corporate finance, mergers & acquisitions (M&A), capital raising, or industry coverage.
- Excellent communication skills — the ability to synthesize complex information and explain it clearly.
- Proven drive: leadership roles, internship experience, student organizations, or entrepreneurial projects.
Diversity of background is an asset. Guggenheim, like many firms, values varied perspectives and may favor candidates who bring domain knowledge in industry verticals such as technology, healthcare, energy, infrastructure, or media.
Program structure and typical experience
While specifics can vary year to year, a typical summer analyst experience at Guggenheim often includes:
- Orientation and training: The program often begins with an intensive orientation covering financial statement analysis, valuation techniques (DCF, precedent transactions, comparable companies), pitchbook creation, and the firm’s deal process. These bootcamps are designed to bring all interns to a baseline competency level quickly.
- Team assignments: Interns are assigned to coverage groups or product teams (e.g., M&A, restructuring, capital markets) and paired with senior analysts/associates and a mentor. Smaller teams mean direct exposure to partners and principals.
- Live deal work: Interns contribute to pitchbooks, tear sheets, due diligence, financial models, and internal memos. They attend client meetings when appropriate and support seniors during roadshows or client pitches.
- Networking and speaker series: The program usually schedules presentations from senior leadership, practice-area overviews, and social events to encourage relationship-building across the firm.
- Final presentation or project: Many programs culminate in a capstone project, case study, or final presentation where interns share a strategic analysis with team members.
- Performance review and conversion: Interns typically receive formal feedback mid-summer and at the end. Strong performers are often extended full-time offers or invites to return next summer.
Typical responsibilities of a Junior Investment Analyst
As a Junior Investment Analyst, you can expect to:
- Build and maintain financial models in Excel; perform sensitivity and scenario analysis.
- Prepare pitchbooks, information memoranda, and client presentations using PowerPoint.
- Conduct industry and company research; compile comparable company analyses and precedent transaction sets.
- Assist in due diligence and coordinate with external advisors, lawyers, and accountants.
- Draft internal notes and transaction timelines; help manage deal logistics.
- Produce slide decks for internal decision-making and client meetings.
The most successful analysts are those who deliver high-quality work quickly, are meticulous with details, and communicate proactively.
How to prepare a standout application
Applying to Guggenheim is competitive. Here’s a roadmap to prepare materials that grab attention:
Resume
- Concise and results-focused: Keep it to one page. Use bullet points that quantify impact (e.g., “Led a 4-person team to analyze a $10M fundraising proposal, producing a valuation model and investor deck”).
- Relevant coursework & technical skills: List modeling courses, Excel proficiency, and any programming languages (e.g., Python, R) if used for financial analysis.
- Leadership & activities: Highlight positions that show responsibility, teamwork, and initiative.
- Formatting: Clean, professional typography. Avoid graphics and photos.
Cover Letter / Personal Statement
- Tell a concise story: Explain why investment banking, why Guggenheim, and what you bring. Reference specific deal types, sectors, or attributes of Guggenheim that resonate with you.
- Be specific: Mention a sector coverage or recent deal (if you know of one) that aligns with your interests; show you did research.
- Keep it short: One page maximum.
Online Application
- Tailor your answers: Use the provided fields to emphasize teamwork, leadership, and technical skills.
- Referees: Choose recommenders who can speak specifically to your analytical capability and work ethic.
Interview preparation: technical and behavioral
Guggenheim interviews typically combine behavioral fit assessments with technical questions. Here’s how to prepare:
Behavioral
- STAR method (Situation, Task, Action, Result) works well. Prepare stories about leadership, conflict resolution, analytical contributions, and moments when you learned quickly.
- Cultural fit: Demonstrate curiosity, humility, and a client-first mindset.
Technical
- Accounting fundamentals: Be comfortable walking through financial statements and reconciling net income to cash flow.
- Valuation basics: Know DCF logic, how to create a comparable company set, and the rationale behind precedent transactions.
- Model walk-throughs: You might be asked to explain a model you built; practice talking aloud through assumptions and outputs.
- Brain teasers & mental math: Have confidence with quick calculations and logic puzzles; precision matters.
Case exercises
Some interview rounds include short case studies or modeling tests. Practice with sample M&A cases and live model tasks under time pressure.
How to stand out during the interview
- Show commercial awareness: Understand recent market trends in your target sectors. Discuss drivers of valuation and financing environment shifts.
- Ask thoughtful questions: Ask about recent deals, the team’s strategic priorities, and how interns are integrated into deal execution.
- Be specific about your contribution: Use concrete examples of when you added value in team settings.
- Demonstrate learning agility: Talk about times you picked up complex topics quickly — banks hire for potential as much as for current skills.
Day-in-the-life: what to expect in summer
A day in the life varies by team and deal flow, but typically includes early morning market updates, model updates, preparing for client calls, and drafting materials. Expect a fast pace, periods of intense work around closing dates, and collaborative problem-solving. Mentors will review drafts, provide feedback, and gradually give more ownership as you demonstrate competence.
Compensation, location, and logistics (what to know)
Compensation and logistical details can vary based on role and location. Historically, Summer Analysts receive competitive stipends, and top performers often secure offers for full-time associate or analyst roles. Interns should confirm housing options, start and end dates, and any onboarding requirements at the time of application. Guggenheim’s offices are often located in major financial centers, which means commuting, housing, and cost-of-living considerations should be factored into your plans.
Networking: how to make the most of your time
Networking strategically during the internship can open doors. Tactics include:
- Informational meetings: Schedule short conversations with people in groups you might want to join.
- Service mindset: Offer thoughtful follow-ups after meetings; highlight what you learned and how you’d like to contribute.
- Keep in touch: Build a concise follow-up plan after the summer — LinkedIn connections and short emails help maintain relationships.
Remember, networking is a two-way street: look for ways you can add value to others as well.
