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Internship - Investment Banking Associate (Summer 2027)

Baird · Chicago, IL · Full time

Posted Sep 2, 2026 · We last checked this listing on Oct 6, 2026

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Likely interview questions for this role

Written from this job description, not a generic list. Each one notes what the interviewer is really checking.

About your past

This is a ten-week summer associate internship in investment banking for first-year business school students. Why investment banking, and why now in your career?

What they are checking: Whether they have a clear, deliberate reason for moving into investment banking now, rather than just following classmates.

You'd work closely with senior bankers and client management. How do you make yourself useful to a senior banker in your first two weeks?

What they are checking: Whether they can make themselves useful quickly to busy senior bankers, which matters in a short, apprenticeship-style program.

What would you want to have learned by the end of ten weeks?

What they are checking: Whether they have a concrete goal for ten intense weeks, which helps them and their team make the most of it.

What would you do

You find an error in a model the night before a client meeting. What do you do?

What they are checking: Honesty under time pressure, the defining test of a junior banker

The posting says significant hours are required and interns must be flexible to work full time through the summer. What is your honest expectation of the workload?

What they are checking: Whether they understand the long hours honestly before accepting, so the summer does not come as a shock.

About the work

You'd lead preparation of company valuations and financial models. Walk me through how you would value a mid-sized company.

What they are checking: Whether they understand valuation fundamentals like comparables and discounted cash flow, which is the core technical screen for bankers.

You'd provide execution support on public equity offerings and mergers and acquisitions. What actually happens between a signed engagement and a closed deal?

What they are checking: Whether they understand what happens between engagement and close, such as diligence, documents and marketing, since they will support it.

Walk me through building a financial model from a company's public filings. Where do you start?

What they are checking: Whether they have a real method for building a model from filings, rather than only knowing what a model is.

You'd conduct industry research and analysis. Pick an industry you know and tell me what is happening in it.

What they are checking: Whether they can research an industry and explain what is really happening in it, which bankers do constantly.

The posting is for first-year business school candidates graduating in winter 2027 or spring 2028, located in Milwaukee or Chicago. Where do you sit, and which office?

What they are checking: Whether they meet the graduation window and can work from Milwaukee or Chicago, since both are firm requirements.

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The full job description

As published by Baird.

Complex deals, real ownership, and career momentum. Grow further at Baird. ​ Baird is where investment banking careers gain real traction. Associate Interns take on meaningful responsibility, work closely with senior bankers and clients, and grow in a culture that values performance, collaboration, and long-term success.​ Our Internship Program: Our 10-week Summer 2027 Internship is a robust experience that offers interns meaningful responsibilities from day one, getting hands-on deal experience by working alongside our senior bankers and clients. Internship Location, Availability and Hours: Located in our Milwaukee or Chicago offices,   interns must be flexible to work full time during the summer, significant hours are required. What You'll Do: • Provide execution support for public equity offerings, mergers and acquisitions and other financial advisory services for our clients • Lead the preparation of company valuations, financial models and client presentations and conduct industry research and analysis • Develop key skills by working closely with senior bankers and senior management at our clients and will obtain broad exposure to an array of transactions in a variety of industries What It Takes: • 1st Year MBA candidates graduating in winter 2027 or spring 2028 • Superior intellect, demonstrated leadership ability, excellent verbal and written communication skills, attention to detail, effective team player and a commitment to excellence • Candidates must display proven analytical skills and an ability to learn in a collaborative environment • Candidates must have three to five years of work experience • Previous exposure to investment banking or other areas within the financial services industry is beneficial What You'll Gain: • Solutions-focused environment that will enable you to grow as a professional • Unique culture that values diverse backgrounds and perspectives while emphasizing teamwork and a strong sense of partnership • Gain hands-on, real-world experience with a highly ranked organization • Interact and work closely with various levels of professionals in both a social and office setting As part of our application process and to be considered for our 2027 Summer Associate Program, you must complete the Suited assessment. Please   click here   to create an account and access the form. Your responses will be recorded as you select “ Save ” at the end of each section – there is no final “ Submit ” button. Your Baird application is not complete until you submit the Suited profile. Please reach out to ibrecruiting@rwbaird.com if you have any questions Compensation and Benefits: Base Salary: $175,000 (pro-rated for summer program) ​ Baird is not currently hiring individuals for this position who now or in the future require sponsorship for employment visa status. About Baird Global Investment Banking Baird is a leading global investment bank with more than 545 banking associates across the world. We provide corporations, entrepreneurs, private equity and other financial sponsors with in-depth market knowledge and a broad range of advisory and financing solutions. Since 2020, Baird has completed nearly 760 advisory transactions, representing $353 billion in transaction value, and 391 financings, raising over $163 billion. Committed to being a great place to work, Baird has been recognized as a Great Place to work since 2004. Learn more at www.rwbaird.com. Thank you for your interest. Baird is an Equal Opportunity Employer. Baird is committed to diversity and provides employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, pregnancy, citizenship, national origin, age, disability, military service, veteran status, sexual orientation, gender identity or expression, genetic information, or any other status protected by law. Baird is committed to diversity and provides employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, pregnancy, citizenship, national origin, age, disability, military service, veteran status, sexual orientation, gender identity or expression, genetic information, or any other status protected by law.

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