Canary Wharfian
Administrator
- Jul
- 88
- 1
Staff member
The allure of investment banking (IB) in London draws ambitious graduates from across the globe, promising high-stakes deals, prestige, and a gateway to the City's financial elite. As a summer intern at a bulge-bracket firm like Morgan Stanley or JPMorgan in Canary Wharf, you're immersed in a world where multimillion-pound mergers and acquisitions unfold amid the gleaming skyscrapers of London's financial district. This isn't the glitzy portrayal from films; it's a rigorous initiation filled with Excel marathons, late-night revisions, and the constant hum of market data. Drawing from real intern experiences, here's a glimpse into a typical day, segmented by time blocks—one that tests resilience while building invaluable skills.
Early Morning: 6:00 AM - 8:00 AM – Wake-Up and Commute
My alarm pierces the silence at 6:00 AM in a shared flat in Shoreditch, a trendy East London neighborhood popular among young professionals for its proximity to the City. The flatmates—fellow interns from various banks—stir as I check my phone for overnight updates. With London on GMT, Asian markets have wrapped up, and US futures are stirring. Any overnight volatility in FTSE 100 or currency pairs could spell urgent tasks. I brew a strong coffee and skim the Financial Times app, noting headlines on potential Brexit aftershocks or tech IPOs. By 6:45 AM, I'm dressed sharply: tailored suit, polished brogues, and a tie that screams reliability. In London's competitive scene, presentation is key—no room for creases.
The commute kicks off at 7:00 AM via the Jubilee Line Tube from Shoreditch High Street to Canary Wharf. It's a 20-minute ride packed with suited commuters, earbuds in, scrolling Bloomberg terminals on mobiles. En route, I review emails; analysts often ping late-night requests, and responsiveness is non-negotiable. Arriving by 7:30 AM, the office towers over the Thames, a hub of global finance rivaling Wall Street. Badge swiped, I navigate to the intern bullpen on a high floor, overlooking the Docklands. My setup: dual screens, a Bloomberg terminal glowing with real-time data, and piles of confidential pitch decks. First order: compile the morning market brief. Pulling from Reuters and internal feeds, I summarize overnight moves in equities, bonds, and commodities, formatting it flawlessly for the team's inbox.
Mid-Morning: 8:00 AM - 12:00 PM – Meetings and Core Tasks
By 8:30 AM, the floor buzzes as associates and VPs trickle in. London's IB culture starts a tad later than New York's, aligning with European trading hours. The morning huddle convenes at 9:00 AM in a glass-walled conference room. The team—covering M&A for tech and media—discusses live deals: perhaps a cross-border acquisition involving a UK fintech unicorn. As an intern, I observe keenly, noting jargon like "synergies" and "accretion/dilution." Post-meeting, assignments flood in. Today, I'm tasked with building a discounted cash flow (DCF) model for a potential LBO of a retail chain. In Excel, I input projections: revenue ramps, capex assumptions, and WACC calculations. A senior analyst looms: "Sensitivity on exit multiples—run it now!" I adjust, ensuring formulas link seamlessly. This grinds on for hours, punctuated by quick fixes to avoid #REF errors.
Around 10:30 AM, a brief respite: the coffee run. Interns rotate fetching flat whites from Pret a Manger downstairs—it's grunt work, but prime for casual chats with MDs about their Oxford days or the latest FCA regulations. Back at the desk, I pivot to comparable company analysis (comps). Using Capital IQ, I screen UK-listed peers in consumer goods, computing multiples like P/E and EV/EBITDA. The aim? Value a target for an upcoming pitch to a private equity client. Deadlines press; the VP demands the slide deck by noon for a video call with Zurich stakeholders. I polish charts, align fonts, and hit send. Feedback arrives swiftly: "Recheck the peer set—add more European comps."
Afternoon: 12:00 PM - 4:00 PM – Lunch and Intensified Work
Lunch? A fleeting concept in London's IB grind. At 1:00 PM, I snag a salad from the on-site canteen and eat desk-side, multitasking on industry research. Afternoons intensify with pitch book assembly. These PowerPoint masterpieces sell the firm's expertise: market overviews, valuation football fields, and deal rationales. I source data from Statista or internal databases, embedding hyperlinks to sources. A curveball: the MD requests tweaks based on fresh ECB interest rate hints. Revisions ensue, often iterative—version 12 becomes version 25 by mid-afternoon.
By 2:00 PM, energy might flag, but the pace doesn't. I might assist on due diligence, reviewing financials for a debt financing deal. This involves cross-checking balance sheets against regulatory filings, spotting red flags like off-balance-sheet liabilities. Networking slips in around 3:00 PM; perhaps a quick chat with a mentor about career progression or attending an internal webinar on ESG investing, a hot topic in London's sustainable finance push.
Late Afternoon to Evening: 4:00 PM - 8:00 PM – Networking and Wrapping Up
By 4:00 PM, energy dips, countered by another espresso. Networking creeps in; I join a virtual session with HR on full-time offers, crucial since internships are auditions for analyst roles. London's scene emphasizes diversity, with many interns hailing from LSE or Imperial. Post-session, back to modeling: stress-testing debt covenants for a high-yield bond issuance. The office thins after 6:00 PM, but juniors linger for "face time." Dinner arrives via Deliveroo—sushi or curry—eaten amid emails. A live deal ramps up: compiling teaser memos for a sell-side mandate. I format executive summaries, ensuring NDA compliance.
Around 7:00 PM, if the day is "light," I might sneak in a gym session at the firm's facility, but that's rare. Instead, it's more iterations on presentations, perhaps incorporating feedback from a Paris-based client.
Night: 8:00 PM Onwards – Late-Night Grinds and Wind-Down
Evenings blur into nights. By 9:00 PM, if lucky, I wrap up, but often it's midnight turnarounds. A ping at 11:00 PM: "Update the model with new comps." I oblige, eyes straining under fluorescent lights. London's after-work culture tempts with pubs in Leadenhall Market, but exhaustion wins. Tube home by 1:00 AM, crashing into bed for five hours' sleep. Weekends? Variable—Saturdays might be free for Hyde Park runs, but Sundays often mean prepping for Monday.
This routine, clocking 80-100 hours weekly, hones technical prowess and resilience. Perks include mentorship, exposure to billion-pound transactions, and a stipend around £10,000 for 10 weeks. Yet, burnout looms; work-life balance is a myth here. Success demands precision, as one error could derail a deal. For those thriving, it's a launchpad—many convert to full-time, climbing to MD status. London's IB ecosystem, with its European focus and post-Brexit adaptations, offers unique angles on global finance. It's grueling, but for the driven, utterly rewarding.
Early Morning: 6:00 AM - 8:00 AM – Wake-Up and Commute
My alarm pierces the silence at 6:00 AM in a shared flat in Shoreditch, a trendy East London neighborhood popular among young professionals for its proximity to the City. The flatmates—fellow interns from various banks—stir as I check my phone for overnight updates. With London on GMT, Asian markets have wrapped up, and US futures are stirring. Any overnight volatility in FTSE 100 or currency pairs could spell urgent tasks. I brew a strong coffee and skim the Financial Times app, noting headlines on potential Brexit aftershocks or tech IPOs. By 6:45 AM, I'm dressed sharply: tailored suit, polished brogues, and a tie that screams reliability. In London's competitive scene, presentation is key—no room for creases.
The commute kicks off at 7:00 AM via the Jubilee Line Tube from Shoreditch High Street to Canary Wharf. It's a 20-minute ride packed with suited commuters, earbuds in, scrolling Bloomberg terminals on mobiles. En route, I review emails; analysts often ping late-night requests, and responsiveness is non-negotiable. Arriving by 7:30 AM, the office towers over the Thames, a hub of global finance rivaling Wall Street. Badge swiped, I navigate to the intern bullpen on a high floor, overlooking the Docklands. My setup: dual screens, a Bloomberg terminal glowing with real-time data, and piles of confidential pitch decks. First order: compile the morning market brief. Pulling from Reuters and internal feeds, I summarize overnight moves in equities, bonds, and commodities, formatting it flawlessly for the team's inbox.
Mid-Morning: 8:00 AM - 12:00 PM – Meetings and Core Tasks
By 8:30 AM, the floor buzzes as associates and VPs trickle in. London's IB culture starts a tad later than New York's, aligning with European trading hours. The morning huddle convenes at 9:00 AM in a glass-walled conference room. The team—covering M&A for tech and media—discusses live deals: perhaps a cross-border acquisition involving a UK fintech unicorn. As an intern, I observe keenly, noting jargon like "synergies" and "accretion/dilution." Post-meeting, assignments flood in. Today, I'm tasked with building a discounted cash flow (DCF) model for a potential LBO of a retail chain. In Excel, I input projections: revenue ramps, capex assumptions, and WACC calculations. A senior analyst looms: "Sensitivity on exit multiples—run it now!" I adjust, ensuring formulas link seamlessly. This grinds on for hours, punctuated by quick fixes to avoid #REF errors.
Around 10:30 AM, a brief respite: the coffee run. Interns rotate fetching flat whites from Pret a Manger downstairs—it's grunt work, but prime for casual chats with MDs about their Oxford days or the latest FCA regulations. Back at the desk, I pivot to comparable company analysis (comps). Using Capital IQ, I screen UK-listed peers in consumer goods, computing multiples like P/E and EV/EBITDA. The aim? Value a target for an upcoming pitch to a private equity client. Deadlines press; the VP demands the slide deck by noon for a video call with Zurich stakeholders. I polish charts, align fonts, and hit send. Feedback arrives swiftly: "Recheck the peer set—add more European comps."
Afternoon: 12:00 PM - 4:00 PM – Lunch and Intensified Work
Lunch? A fleeting concept in London's IB grind. At 1:00 PM, I snag a salad from the on-site canteen and eat desk-side, multitasking on industry research. Afternoons intensify with pitch book assembly. These PowerPoint masterpieces sell the firm's expertise: market overviews, valuation football fields, and deal rationales. I source data from Statista or internal databases, embedding hyperlinks to sources. A curveball: the MD requests tweaks based on fresh ECB interest rate hints. Revisions ensue, often iterative—version 12 becomes version 25 by mid-afternoon.
By 2:00 PM, energy might flag, but the pace doesn't. I might assist on due diligence, reviewing financials for a debt financing deal. This involves cross-checking balance sheets against regulatory filings, spotting red flags like off-balance-sheet liabilities. Networking slips in around 3:00 PM; perhaps a quick chat with a mentor about career progression or attending an internal webinar on ESG investing, a hot topic in London's sustainable finance push.
Late Afternoon to Evening: 4:00 PM - 8:00 PM – Networking and Wrapping Up
By 4:00 PM, energy dips, countered by another espresso. Networking creeps in; I join a virtual session with HR on full-time offers, crucial since internships are auditions for analyst roles. London's scene emphasizes diversity, with many interns hailing from LSE or Imperial. Post-session, back to modeling: stress-testing debt covenants for a high-yield bond issuance. The office thins after 6:00 PM, but juniors linger for "face time." Dinner arrives via Deliveroo—sushi or curry—eaten amid emails. A live deal ramps up: compiling teaser memos for a sell-side mandate. I format executive summaries, ensuring NDA compliance.
Around 7:00 PM, if the day is "light," I might sneak in a gym session at the firm's facility, but that's rare. Instead, it's more iterations on presentations, perhaps incorporating feedback from a Paris-based client.
Night: 8:00 PM Onwards – Late-Night Grinds and Wind-Down
Evenings blur into nights. By 9:00 PM, if lucky, I wrap up, but often it's midnight turnarounds. A ping at 11:00 PM: "Update the model with new comps." I oblige, eyes straining under fluorescent lights. London's after-work culture tempts with pubs in Leadenhall Market, but exhaustion wins. Tube home by 1:00 AM, crashing into bed for five hours' sleep. Weekends? Variable—Saturdays might be free for Hyde Park runs, but Sundays often mean prepping for Monday.
This routine, clocking 80-100 hours weekly, hones technical prowess and resilience. Perks include mentorship, exposure to billion-pound transactions, and a stipend around £10,000 for 10 weeks. Yet, burnout looms; work-life balance is a myth here. Success demands precision, as one error could derail a deal. For those thriving, it's a launchpad—many convert to full-time, climbing to MD status. London's IB ecosystem, with its European focus and post-Brexit adaptations, offers unique angles on global finance. It's grueling, but for the driven, utterly rewarding.