Scottishmum, DS struggled (economics again).
Applications were hugely time consuming and he got nowhere with the banks. He started looking for placements for the end of year one and took a Masters, so we had three years of it.
- Look further afield. Major banks will have back room operations elsewhere: Bournemouth, Halifax etc.
- Think about parallel employers: Government (almost everyone employs economists and internships in some out-of-London departments are less popular than others), FCA, research bodies, treasury departments in Councils or large firms/charities. Local accountancy firms. etc. His University careers department might be able to help.
- Sign up with a London temp agency in the City for the summer. (Get someone to put a card up on various London University websites, as students there have to sign up for 12 months so may be delighted to sub-let when they are away.) Though work may not be that relevent, with an economics background you could be placed somewhere relevent, you get through the doors. Big banks outsource a lot, so have an army of near permanent temp staff. For example one friend does communications work in this way, editing powerpoints to ensure they are readable and fit house style, which would be an interesting introduction to bank business. Or perhaps work for a city conference organiser.
- DS found that there was quite a lot of research assistantship work available at his University, and picked up some after his second and a full summer after his third year. One academic, who was runnning a private summer school in Oxford, allowed him a free place "scholarship" during his first summer. He picked up a bit of experience by responding to adverts on the University noticeboard and being guinea pig for firms formulating recruitment programmes (which he then failed to get through.) He got an internship in an obscure Government department for his second summer. He also volunteered for a SU organised teaching programme "quants for quals" which had economists and mathematicians delivering a series of lectures on things like statistics for those studying other social sciences, so had to prepare, and then actually teach. Plus he got involved in department stuff as student rep, and in his subject society. He found academic staff were good at providing help, ideas, and contacts.
In short enough to cover the fact that he was unable to land an internship, and the variety did no harm once he decided to carry on with academia.
Also use the University careers for help with applications and interviews. DS kept failing at the Skype interview and so we got him four sessions with a trainer, who got him to pratice talking to a blank wall, presentation stuff for assessment days and things like that.
It was tough. There were lots of disappointments. The big one was him failing to get an internship with a big international bank out of London, and then us hearing that someone DD knew had got on it...whilst still at school. The dad just happened to be...
DD went back yesterday and by the evening was ensconsed in Wetherspoons. I have now downloaded the app so next time I can send her a plate of onion rings.