Money makes the world go around, and if you're looking to enter an exciting field with lots of potential, finance is a good way to go. Finance internships are a way of getting your foot in the door. And if you're eager to find a way to get some international experience under your belt, then you're in luck. There are a number of finance internships that can take you around the world.

But what's the status of an international intern? Are finance internships considered employment? Will you need a work visa? Or could you use your internship to acquire one? These are complicated questions, and the answers will depend on a number of factors. Nevertheless, no matter how you slice it, international finance internships are a fantastic experience that can lead to a diverse, interesting, and often lucrative career.

What are Finance Internships?

Internships are temporary employment programs that companies typically offer to students or recent graduates. Some internships combine work and study. Others involve work only. An employer may pay you to intern with their company. They may also expect you to work for free. Some internships even require the participant to pay for the experience.

Companies often use internships to groom potential employees for a future position within the company. Interns gain a hands-on, working knowledge of the company, and make important contacts. It's a low-risk arrangement with lots of potential benefits for both companies and interns. According to Investopedia, students who served as paid interns had a definite advantage in the job market after graduation. What's more, in one survey, 63 percent of paid interns received a job offer from their host company once the internship was finished.

Finance internships are temporary, low-level, paying or voluntary employment programs in the finance industry. But, as you can see, they can, and often do lead to much better things.

What do finance interns do?

That's a complicated question with a lot of answers. The field of finance is vast, and the range of jobs is diverse. You might work in accounting, credit, banking, trading, sales, financial services, or other fields. And, of course, your day to day work will depend on your field and your company's needs.

But it's not just fetching coffee and sandwiches. According to one study by the National Association of Colleges and Employers, finance interns spend around 42 percent of their time doing what their education trained them to do. And that's important.

If you're considering an internship in this field, the best thing to do is to research finance internships with different companies and see which ones sound like a good fit. Many universities have career guidance counselors, or even internship counselors, who can give you more information. Once you've narrowed down a short list of finance internships, these same counselors can help you tailor your application to give you an edge on the competition.

Are finance internships a form of employment?

From a visa perspective, finance internships, or any other kind of internships, are considered employment. What's more, in many countries, if your internship includes both a study and a work component, you'll need both a study visa and a work visa.

Does that mean you can't do your internship on a tourist visa, or in a country that doesn't require a visa for a short-term stay? That's a gray area. If your company is paying you, your internship is absolutely employment. You will very likely need a work visa. If you're accepting an unpaid internship abroad, you would be wise to consult the consulate or embassy of your target country well in advance of departure to clarify the rules for your situation. Immigration trouble is the last thing anyone wants.

Internships, Visas, and Immigration Status

visa

What kind of visa will you need for an internship? Will the company that provides your internship deal with it? These are important questions, and, unfortunately, the answers will vary from internship to internship, as well as from country to country. Below, we've collected the information for some of the most popular areas for American expats. Please note that this information may not apply to every country in that geographical area. If you're considering an internship abroad, always check the regulations for your specific country.

It's easiest, of course, if the company offering the internship offers to acquire your visa for you or sponsor you. But if you find yourself responsible for your own visa, here is some information you can use.

Canada

United Kingdom

Europe

Asia

How to Find Finance Internships Abroad

It's not difficult to find finance internships. You can go through your college or university, research specific companies and apply through them, or search for internships through clearinghouses like StudyAbroad.com and International Internships. But there's a lot of competition, and you need to make your application as competitive as possible.

Education

Desired skills

Personality traits and characteristics

Is a Finance Internship in Your Future?

Finance is a fast-paced, exciting, lucrative field. It can take you to some of the most exciting places around the world -- and in the United States. Do you think you have what it takes to do a finance internship abroad?

 

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