Equities Summer Internship

1. 1Application

   Resume and short questions. Some banks ask which desks interest you.

2. 2Online assessment

   Numerical and logical reasoning tests, sometimes a markets quiz. Speed matters.

3. 3HireVue

   Behavioral prompts plus a markets question such as what you are watching this week.

4. 4First round

   A trader or salesperson. Why S&T, a stock or trade pitch, mental math, what moved markets this morning.

5. 5Superday

   Rapid rounds across desks. Expect brainteasers, pricing intuition, a stance on rates or a sector, and fit with each desk's personality.

6. 6Offer

   Generalist offer at most banks, desk placement over the summer.

Piper Sandler does not state its process on its own site, so these are the usual stages.