Piper Sandler Summer Analyst Internship

Piper Sandler runs a 10-week Investment Banking Summer Analyst Program from June to August, paying $1,920 per week (about $99,840 annualized) plus a $5,000 housing stipend, with roughly 70-80% of interns converting to full-time offers. Interns are placed directly into industry groups, providing sector-specific deal exposure from the outset. Interns in the healthcare group, for example, immediately begin working on pharmaceutical M&A, healthcare services transactions, and medical device advisory mandates, gaining specialized knowledge that would take longer to develop at a generalist bank. The program includes a structured training week covering financial modeling, valuation, and presentation skills, followed by hands-on deal team integration. Class sizes are moderate, creating a cohort experience while allowing meaningful individual attention. Piper Sandler assigns formal mentors from both junior and senior levels of the organization, and the mentorship commitment is genuine. The firm's research-driven culture extends to the internship, with interns encouraged to develop informed views on their sector and contribute intellectual capital beyond just modeling and slide-building. Networking during the program benefits from the firm's sector focus: interns interact with bankers who are deeply embedded in their industry verticals and can provide career guidance specific to healthcare or financial institutions advisory. The Minneapolis headquarters provides a quality of life advantage compared to New York-based programs, with lower cost of living and a collegial Midwest culture.