Prepare for your Finance Intern interview. Understand the required skills and qualifications, anticipate the questions you may be asked, and study well-prepared answers using our sample responses.
This question can help the interviewer determine your level of experience with financial modeling and data analysis. If you have previous experience with these processes, share what you learned and how it helped you succeed in your role. If you don’t have any experience, share your interest in learning more about these processes.
Answer Example: “I am very comfortable working with data and financial models. During my internship at my previous job, I was responsible for creating monthly reports using Microsoft Excel and PowerPoint. These reports included graphs and charts that helped our team visualize data and identify trends. I also used financial modeling software to create projections for future business decisions. These skills have helped me become an efficient and effective employee.”
This question is your opportunity to show the interviewer that you have the skills necessary to succeed in this role. You can answer this question by listing some of the most important skills for a finance intern and explaining why they are so important.
Answer Example: “The two most important skills for a finance intern are attention to detail and strong communication skills. Finance is all about numbers, so it’s important to be able to look at data carefully and spot any errors or anomalies. Similarly, I believe that communication is key in any business environment, so I make sure to always be clear and concise when talking with coworkers or clients.”
This question can help the interviewer understand your knowledge of the two fields and how they relate to each other. Your answer should include an explanation of what accounting and finance have in common, as well as the differences between the two.
Answer Example: “Accounting and finance are both important aspects of financial management. While accounting focuses on recording and analyzing financial data, finance involves making decisions based on this data. In my experience, accounting is essential for maintaining accurate records while finance allows companies to make informed decisions about how to use their resources.”
This question is a great way to test your knowledge of financial terms. It also allows you to show your ability to apply what you know in real-world situations. When answering this question, make sure you explain the difference between working capital and long-term capital. You can also give an example of when you used either term in a project at school or work.
Answer Example: “Working capital refers to the funds that a company uses to operate on a day-to-day basis. This includes things like inventory, accounts receivable and cash. Long-term capital is money that a company uses to invest in future growth. This could include things like buying new equipment or expanding operations. In my last internship, we had to create a budget for working capital. We had to make sure we had enough money for all of our expenses for the next quarter.”
This question can help the interviewer determine how you handle conflict and whether you can make decisions on your own. Use examples from previous work experiences where you had to make a difficult decision, such as cutting costs or finding new sources of revenue.
Answer Example: “In my last role as an accounting intern, I was tasked with creating a budget for our department. The company had just received funding for a new project, so we needed to use the funds responsibly. I created a detailed budget that included all expenses for the department and allowed for some room for error. However, when it came time to implement the budget, I realized that we had overestimated some costs and underestimated others. I had to re-create the budget several times until we got it right.”
This question is a great way to see how you think critically about the world around you. It also shows the interviewer that you have ideas for improvement, which is an important skill for any finance professional. When answering this question, it’s important to be honest about what you would change and why.
Answer Example: “If I could change one thing about the financial system, it would be to make it more transparent. I believe that people have a right to know where their money is going and how it’s being used. Right now, there are many processes in place that make it difficult for people to access this information. I would like to see more transparency in the world of finance so that people can make better decisions with their money.”
This question can help the interviewer assess your ability to detect errors and correct them. Use examples from previous experience where you noticed a mistake in your calculations, identified what was wrong and corrected it.
Answer Example: “If I noticed a mistake in one of my calculations, I would first make sure that I wasn’t making an error in my math. If the problem persisted, I would look through my work for any errors or mistakes. If I couldn’t find anything wrong, I would ask someone else to check my work for me.”
As an intern, you may be given challenging projects that require you to work under pressure. Employers ask this question to see if you can handle stress well and remain focused on the task at hand. In your answer, explain how you manage stress in the workplace. Share a few techniques that you use to stay calm and focused when working on difficult projects.
Answer Example: “I am a very organized person, so I find that keeping a to-do list helps me stay organized when working on challenging projects. I also like to break down large projects into smaller tasks so I can focus on one thing at a time. This helps me stay focused and motivated to finish each task. Finally, I always make sure to take breaks throughout the day so I don’t get overwhelmed by stress.”
This question can help the interviewer determine your level of experience with financial software. If you have prior experience using financial software, share what type of software it was and how often you used it. If you don’t have any experience working with financial software, explain that you are willing to learn new software programs.
Answer Example: “I have experience working with several different types of financial software, including Excel, QuickBooks, and TurboTax. In my last internship, I was responsible for entering customer information into an Excel spreadsheet so that we could send out invoices. I also used QuickBooks to keep track of our company’s finances. Finally, I used TurboTax to help customers file their taxes each year.”
This question can help the interviewer determine how committed you are to your career and whether you’re likely to stay with their company after the internship. Your answer should show that you have an interest in learning new things, but it’s also important to mention any specific actions you’ve taken to improve your financial knowledge in the past.
Answer Example: “I recently attended a seminar on investing strategies for millennials. The presenter discussed how millennials are more likely to invest in stocks than other generations and gave tips on how we can make smart decisions when buying stock. I found this information particularly helpful because it helped me understand how to better serve my clients.”
This question is an opportunity to show your knowledge of finance and how you can apply it to a company’s operations. When answering this question, it can be helpful to explain what risk management is and how it can help a company improve its financial health.
Answer Example: “Risk management is the process of identifying, analyzing and controlling financial risks. It’s important for companies to have strong risk management processes in place because it allows them to anticipate potential problems and prepare for them. For example, if a company has a large amount of debt, it needs to know how it will pay back those loans. Risk management can help companies create plans for repayment or find ways to reduce their debt.”
This question can help the interviewer determine if you would be a good fit for their company. It also gives you an opportunity to talk about what is important to you in a workplace environment. When answering this question, it can be helpful to mention some specific aspects of the company’s culture that appeal to you.
Answer Example: “I thrive in a collaborative work environment where everyone is willing to help each other out. I find that when everyone works together, we can get more done faster and better. In my last internship, we had weekly meetings where we discussed our projects and how we could help each other out. This helped me develop relationships with my coworkers and learn from them as well.”
Employers ask this question to learn more about your qualifications and how you feel you are the best candidate for their finance internship. Before your interview, make a list of all of your skills and experiences that relate to this position. Focus on highlighting your most relevant skills and explaining why they make you an ideal candidate.
Answer Example: “I am passionate about finance and accounting, which is why I chose to major in these subjects in college. I also have several years of experience working as an assistant accountant at my family’s business. During my time there, I learned how to manage budgets, create financial reports and manage cash flow. These skills have prepared me well for this position.”
This question is a great way for employers to learn more about your career goals and how you plan to achieve them. When answering this question, it can be helpful to mention an industry that you are interested in working in but also mention any other industries that you would be willing to work in.
Answer Example: “I am passionate about finance, so I hope to continue working in this field after my internship. However, I also have an interest in marketing and advertising, so I would be open to working in those industries as well. I think my skills and knowledge would be beneficial in any setting.”
This question is a great way to end your interview and show the interviewer that you are prepared. It also gives you an opportunity to share some of your skills and knowledge with them. When answering this question, try to think of something that relates back to the job description or the company’s values.
Answer Example: “I think the most important thing for finance interns to remember is to be organized. In this role, I would be working on many projects at once, so it’s important that I keep track of all my deadlines and responsibilities. I also think it’s vital for me to be able to communicate effectively with my coworkers.”
Auditing is a common task for finance interns. Employers ask this question to make sure you have experience with auditing and know how to perform them. In your answer, explain what type of audits you’ve done in the past and what makes them valuable to a company.
Answer Example: “I have performed several financial audits throughout my internship experience. I find that financial audits are an excellent way to ensure that a company’s finances are being managed properly. During my last internship, I performed monthly financial audits that allowed me to check for any discrepancies in the company’s records. If I found any issues, I would report them to my supervisor so they could take action.”
This question is a great way to test your problem-solving skills and ability to work with others. When answering this question, it can be helpful to describe the situation and how you would resolve it.
Answer Example: “I would first try to understand both sides of the conflict. Then, I would meet with each executive separately to hear their side of the story. After that, I would bring them together to discuss their differences. I would encourage them to find a compromise so that they can work together effectively.”
Budgeting is a common task for finance interns. Your interviewer may ask this question to see how you would use your knowledge of financial management to complete a task. In your answer, explain the steps you would take to create a budget for a new project. Try to be as specific as possible about what information you would need to complete the budget and when you would need to have it ready.
Answer Example: “I would start by researching the cost of materials for the project. Then, I would calculate the amount of time it will take to complete the project and divide that by the hourly rate of the employee working on it. Finally, I would add in any other expenses related to the project such as travel costs or equipment rentals.”
This question can help the interviewer understand your research and analysis skills. Use examples from previous internships or classes to highlight your ability to gather information from various sources, analyze data and draw conclusions from it.
Answer Example: “In my last semester at university, I took a finance class where we had to complete a project on our own company. We had to research the company’s financial statements, analyze the data and present our findings to the class. For my project, I chose to research a local restaurant that was looking to expand. I used the company’s annual report, balance sheet and other financial documents to analyze their revenue sources, expenses and profit margins.”
As an intern, you may be expected to handle multiple projects at once. Employers ask this question to make sure you have organizational skills that will help you stay on track with your work. In your answer, explain how you stay organized and ensure you complete all of your tasks on time.
Answer Example: “I stay organized by using a calendar app on my phone. I set reminders for myself so I remember important dates and deadlines. I also use color coding to categorize different projects. For example, if I have two projects that are blue and red, I’ll label them with those colors so I know which project goes with which color. This helps me quickly identify which project I need to work on next.”
Forecasting is an important part of finance because it helps managers make decisions about how to allocate resources. You should explain how forecasting helps you make decisions about which projects to invest in and how to spend company funds.
Answer Example: “Forecasting is an essential part of financial planning because it allows me to see what the future looks like financially. This helps me decide which projects to invest in and which ones to reject so that the company can meet its goals. For example, if I see that sales are decreasing, I can tell my manager so we can take action before it’s too late.”
This question is a great way to test your problem-solving skills and ability to work with others. It also shows the interviewer that you have experience with financial systems, which can be an important part of any company’s operations. When answering this question, it can be helpful to describe the steps you would take to set up the system and explain why those steps are important.
Answer Example: “I would start by researching different financial systems that are available on the market. I would then meet with the manager of the department to discuss their needs and goals for the company. After that, I would choose a system that meets those requirements and begin training employees on how to use it. Finally, I would monitor the system for any issues or problems and work with other employees to solve them.”
This question can help the interviewer understand how you would handle a situation where you need to correct a colleague’s mistake. Your answer should show that you are willing to speak up when necessary and that you have good interpersonal skills.
Answer Example: “If a colleague made a calculation error, I would first try to help them find where they went wrong. If they still couldn’t figure it out, I would offer to do the entire calculation myself so they could learn from their mistake. In this way, I would help them learn while also ensuring that the project gets done correctly.”
This question is a great way to learn more about the candidate’s interests and experience. It also allows you to see how they describe their work in an interesting way that shows their personality. When answering this question, it can be helpful to mention a project that relates to the job description or company culture.
Answer Example: “I recently worked on a project that involved analyzing financial statements for a small business. The company was looking to expand their operations, so we discussed potential ways they could do so without going into debt. It was interesting to see how different companies approach expansion and how they use financial statements to track their progress.”