Internships in London
At Grad Diary, we provide information on internships in London and all over the UK for around 400 of the largest organisations in the UK. Whether you are looking to do finance and banking in the City of London or a law internship in Moorgate and Holborn, we feature a large portfolio of companies and an up-to-date schedule of all the internships in London.
We offer a completely free service that allows you to browse through hundreds of companies in the UK. With a detailed description on each individual company, you can get a much better idea of the work they do and the work placements that they offer. Our plan is to guide you through the process of selecting an internship at the right company for you and eventually sealing the position and gaining valuable work experience.
To stay on top of all the deadlines, our application organiser will help you manage all the potential placements that you are interested in. Our blog is regularly updated with tips on how to succeed in interviews and other aspects of the application process from real company employees and HR Managers. For over 5 years, we have worked hard to create a useful resource for candidates to find internships and we’re thrilled to have achieved over 12,000 likes on our Facebook Page and to have been featured in the Times and the Guardian amongst others.
How does an Internship work?
An internship refers to a temporary work placement in an organisation. An internship can last for one week or for an entire year and the aim is to provide the individual with some professional and quality experience to boost their career. Whilst some internships lead to full-time employment with the organisation, many individuals use the work opportunity as a way to determine if they have a interest in the subject and wish to pursue a career in that field. Once the individual secures the internship, they become an ‘intern’ and they gain real-life work experience, something that will add value to their CV and improve their chances of future employment.
Internships abroad are sometimes arranged as part of the internship. Some placements involve training up interns and various large organisations in the UK such as Accenture and Bank of America have been known to send their interns to the US for a few weeks as part of the process.
Why Internships have become so important
Over the past few years, the role of internships in the overall recruitment cycle for large companies has really grown. The largest companies see internships as a way, not only to assess potential employees, but also to ensure that they are in touch with the best candidates as early as possible. For people looking to a role at the most sought after companies should be doing everything they can to get an internship.
It is not unusual for the companies we speak to to tell us that they are now taking 60% of their graduate job intake directly from their intership schemes. That should really help you understand how vital an internship can be, so make sure you're looking to apply in years 1 and 2 of university.
Graduate internships from Grad Diary
Graduate internships are something that what we specialise in at Grad Diary. With a close relationship with some of the biggest Universities in the UK, we currently work with over 80 University societies to help students secure graduate internships. University students are typically looking for internships because it is important for them to get some quality work experience under their belt. A common graduate internship is to do some kind of placement during the Christmas, Easter or summer holidays so they can gain some experience and carry on with their studies as normal. It is very common for University students to do yearlong internships as a means of gaining good professional experience, also known as ‘a year in industry.’
Research internships are also common forms of graduate internships. This involves a final year student spending an entire year with a company to carry out particular research or writing a dissertation on an aspect of the business and then reporting their findings to the company and receiving a grade from the University.
What is the difference between a summer internship and a regular internship?
Summer internships are very common for University students looking for some experience and some paid work during the summer. Also, you will find that large organisations having specific summer internship programmes to purely accommodate university students. A typical summer internships lasts around 3 months and is popular for students who have just finished high school or who have just finished their first or second year of university. The motivation for doing the summer internship is get a better idea of what you want to do before leaving university whilst keeping your options open. It is not uncommon that after doing a summer internship that the company invites you back the following year or gives you an employment offer for when you finish university.
This is different to a regular internship that may take place at any time of the year or last for an entire year. With a regular internship, the goal is usually to achieve full-time position by the end of the work placement whereas a summer internship lasts for a fixed period of time.
How do you get a paid internship in London?
For the UK's largest employers, paid internships are usually the norm. This is because it is common for banking, finance and law firms to give their interns work to do which contributes to the organisation and entitles them to a salary. At the same time, internships have become ever more integral to the graduate recruitment cycle and so companies are willing to pay good money to attract the best candidates. On Grad DIary, we have a comprehensive list of internship opportunities and their application deadlines. Unpaid internships are more common in marketing, fashion and media professions that are areas that we do not cover.
For most paid internships, you are offered a monthly salary by the organisation. For some companies, if you are not paid a salary, you are given a stipend or a daily allowance to put towards your travel and food. Even if you have a non-paid internship, you still gain invaluable experience and a chance to build a network of contacts that can help you further your career.
The types of internships we offer
There are several different types of internships available but the main placements we focus on include:
Finance Internships – This may involve spending an entire year or summer working for an organisation in areas such as risk, insurance, data analysis and consumer credit. This is very relevant for students or graduates in economics, maths or business and is very broad with several career opportunities.
Banking Internships – Major organisations such as Deutsche Bank, Bank of America and Merryl Lynch offer internships for graduates interested in trading, investment banking, private equity and hedge funds. These types of internships favour those graduates with strong maths and economic skills who love working in a competitive and fast-paced environment.
Law Internships – Legal internships, which are called Vacation Schemes. are very popular for those who have studied law, history, politics or English at university. Law interns gain a good overview of the different types of law they can pursue such as a tax, property, divorce or criminal law. For many, pursing a law placement allows them to decide whether they wish to pursue a further career in that industry. Vacation schemes also tend to focus on offering a permanent job to impressive interns.
Internships are very competitive which is why we try to make the application process as easy as possible. Allowing you to keep track all the deadlines will help you stay on top of all the different programmes in the forthcoming years. It’s important to research and browse through the information of all the companies featured on our site. We highly recommend you follow our dedicated blog posts and social media to hear about new internships available and top tips for succeeding in the application process to help you secure a good internship for 2015.