When should an Indian undergraduate student at a US university like Rochester start looking for finance or private equity internships, and what kind of firm should they target first?

Start looking for the first internship in your very first summer, do not wait for sophomore or junior year on the assumption that you are not experienced enough yet. For the first and second summers, target internships of six to ten weeks rather than the full twelve-week programs, which leaves time to return home. The most accessible entry point for finance internships at the undergraduate level is small to medium-sized firms, not the large banks. At a large firm, you are unlikely to get real exposure, your role is often marginal and your presence goes unnoticed.

• At a smaller firm, you sit in meetings, see different parts of the business, and people know your name.
• The informal learning and the relationships you build are more valuable at this stage than the brand name on your CV.
• Investopedia and YouTube are the right resources for building foundational knowledge before your first internship, specifically, watch private equity and finance interview question videos, because they show you what firms are looking for and give you the vocabulary to engage credibly when you get there.
• Arrive at the first internship having already done this preparation, and you will get more out of it than students who show up and learn the basics on the job.