New York Internship Program

The NY Program in International Finance and Commerce is an intense internship experience in Global Commerce. It entails several components. During the Spring term, students will work full time as an intern in any of several firms or government offices in New York. We expect 2007 placements to include:

• Goldman Sachs
• JP Morgan
• UBS
• East River Development Alliance
• Lehman Brothers
• Marsh & McLennan
• New York City Office of Tax Policy
• Tiger Management

Depending on the organization, internship placements can be in:

• Internal Auditing
• Investment Banking
• Portfolio Management
• Research
• Government

During Spring Term interns participate in a 6-credit seminar with W&L Faculty and guest speakers. Past guest speakers include:

• Michael Cherkasky, CEO, Marsh and McLennan
• Edward McKelvey, VP and Chief Economist, Goldman Sachs
• Peter Peterson, Chairman, Blackstone Group and Chair, Council on Foreign Relations
• James Glassman, Director, US Economics and Policy Research, JP Morgan
• Barbara Ehrenreich, author of Nickel and Dimed in America

Depending on the placement, interns may have the opportunity to continue on as an intern for the summer as part of their firms’ standard summer internship program.

Housing

Students are housed during the Spring Term at the West Side YMCA (63rd Street and Central Park West). In late May, students can move to the student housing at New York University. Housing at both locations is arranged through Washington and Lee. Students are free to arrange for their own housing as well. However, if they have not secured housing by the YMCA application deadline, they must agree to take a room at the YMCA for the first 5 weeks of the program (to ensure that they do, indeed have housing).

Finances and Program Fees

The fee for the New York Program is $2,500.00. This covers the administrative costs of the program. In some cases, sponsoring firms provide a stipend that will offset living expenses for both Spring Term and the firms’ own summer internship programs. Fees are payable after you have accepted an internship position and are billed to your W&L account. Students are responsible for their housing fees.

Application Process

Applications must be submitted electronically to the Office of Career Services. Application deadlines will be announced in advance. We assemble a package of student information and forward it to the internship sponsors. If you wish, you may ask not to be considered for a particular firm. To be eligible for this program, students must be available for Spring and willing to continue with their sponsor for 10-12 more weeks in the Summer. Students should affirm their availability for Spring and Summer in their cover letter.

Applications consist of:

• a cover letter that includes a statement of interest in the program
• current resume with cumulative GPA
• transcript

Depending on the organization, the first interviews usually take place at the end of October and may continue on as late as December or January.

Requirements and Expectations

The New York Program entails a special commitment on the part of all participants because it provides a unique and valuable career opportunity. All interns must (along with their parents) sign the Washington and Lee Agreement of Responsible Travel and Study. Internship positions are scarce and the interview process is highly competitive. If you submit an application we assume that you will take a position if it is offered to you. Failure to accept an internship position when it has been offered to you could result in the withdrawal of the sponsor. Therefore, you should not apply to the program if you think you might choose instead to do something else either in the Spring term or the summer

For more information contact:

Professor Mark Rush (540) 458-8904 RushM@wlu.edu

or

Professor Kip Pirkle (540) 458-8719 PirkleK@wlu.edu

STUDENT INTERN COMMENTS

“I’ve been very involved with a number of projects, meetings and different groups. My sponsors have been great mentors. They engage me to help with substantive work, but they are also very active in educating me about the financial world.“

”All in all, a great program. I would recommend it to any other W&L student. It is truly a unique experience and something that many other students never get. Thanks for all of the hard work and careful planning that each professor had to do in order to make the NYIP a success for a second straight year.”

“This internship is unbelievable. I have learned more in the past 6 weeks than I learn I n an entire semester of academic classes. You’re forced to learn quickly and it’s been great to see how all the stuff I’ve learned in class at W&L applies in the real world. The networking opportunity here is also great. I’ve done only substantive stuff. Have only touched a copy machine once and it was for less than 5 minutes. Everyone has made a real effort to include me in all parts of the bank’s dealings, from listening in on conference calls with clients, to working on presentations and most importantly understanding the logic behind all they do (both the qualitative and the quantitative). Getting here 6 weeks before the other interns is also a huge advantage. I went through training with the rest of the intern class (about 75 people) and realized that I had learned an incredible amount in the past 6 weeks. I am so ahead and will therefore be put on more meaningful projects than I would be if I had just arrived. Its also given me a chance to work with more bankers, which is good, b/c more people will be able to review me”

“I learned more than I ever thought was possible and the course work overlapped significantly with on the job concepts. I think the program is an incredible opportunity for Washington and Lee and its students.”