Things I’ve Learned at Webull: The 2024 Summer Internship Experience

Twenty-two students from diverse backgrounds, schools, and areas of expertise participated in Webull's enlightening nine-week summer internship program, which is designed to offer valuable insights into various aspects of the finance industry. During the program, each intern rotated hrough different departments, gaining a comprehensive understanding of the company's operational structure. Interns engaged in one-on-one learning sessions with staff, collaborated on projects addressing simulated challenges, and received valuable feedback from multiple team leaders.

As the program concluded, we asked some of our interns for their thoughts on the experience. Molly K., Emil R., Nicole H., Olivia K., and Sam M. took the time to reflect on their experiences, share insights, and discuss their aspirations for future endeavors. Here's what they had to say.

Describe a typical day for a Webull Intern.

Sam M: The workday starts at 9 AM. We typically start by checking in with our teams and shadowing their morning activities. Afterward, we receive an independent research assignment or project to complete. We spend the day working on the assignment and check in with our teams again around 4PM.

Nicole H: As this was a rotational internship, I was able to rotate every two weeks between four different departments, including Clearing Operations, UI/UX, Marketing, and Special Projects. Depending on the rotation, our main point of contact would give us a schedule for the rotation period. Usually during this time, we would be involved in meetings, working on projects, and brainstorming new ideas that can ultimately add value to Webull.

Emil R: It highly depends on the team we are working with. The Capital Markets team provided us with exposure to clients by inviting us to sit in meetings related to Corporate Connect or tasking us with a project related to an IPO pitch for IBs. Some other teams were more research-based; the Risk & Margin team allowed us to day trade, which was fun. Our workday was full of different activities depending on the rotation, and lunch hour would be well spent exploring restaurants in FiDi.

With the rotation format, which department did you find the most interesting and why?

Molly K: The Operations team! I got to pitch an M&A transaction with my team based on our market research and learn about the different types of account fraud and how Webull prevents such fraud from taking place. I shadowed various team members who really took the time to explain their roles at Webull to us.

Olivia K: Clearing Operations was my favorite by far. In the mornings, we had learning sessions, and in the afternoons, we shadowed different members of the team and applied the concepts we learned that morning to real-life scenarios. I definitely learned the most about Webull’s back-office operations during this rotation!

Emil R: I found Capital Markets the most interesting. It gave us the opportunity to cooperate with partnering investment banks for either co-underwriting or IPO allotment for sale to retail.

Has any part of your internship changed any preconceived notions you may have had about working in finance or the finance industry in general?

Olivia K: A lot of people think working at a financial company means a dull desk job. While you do spend a lot of time working at your cubicle, there are many resources around the office to keep you engaged during the day.

Nicole H: One thing I would say is the stereotype of how intimidating it is. Before the internship, I thought the environment would be completely different, but there hasn’t been a time I felt unwelcome or that I didn’t belong when talking to the employees. Talking to higher-ups can be nerve-wracking, but when I realized that I could just be myself, I was able to engage with everyone.

Sam M: This internship allowed me to understand that everything exists on a spectrum and that includes the finance industry. I believe the culture and people here at Webull are an extremely unique part of the finance industry. The atmosphere here is more welcoming than at a stereotypical finance firm.

What was the most challenging aspect of your internship, and how did you overcome it?

Sam M: I thought the internship was relatively well paced and planned out, so I didn’t feel like there were any significant challenges. I would say one challenge that I faced was figuring out how to code certain complex equations in Excel. I quickly overcame this by asking a fellow intern who happened to major in data science!

Olivia K: The biggest challenge for me was preparing for presentations. With four of them scheduled throughout the curriculum, it’s natural that I felt a bit nervous. The only way to overcome this was to just get up there and do it; sometimes you just have to dive in and face your fears head-on.

Nicole H: The most challenging aspect of my internship would probably be managing multiple projects at one time. I like to take my time on my work and make sure it is always presentable, so when deadlines were short and I was working on different projects simultaneously, I was a little overwhelmed at first. I was able to talk to some employees who explained that this is a fast-paced environment, so it reassured me that I wasn't the only one working on more than one project at a time. I overcame this by managing my time better to handle the workload.

Can you share an accomplishment or project you're particularly proud of during your internship?

Molly K: Some of the user interface/user experience changes that I suggested for Webull's new fixed-income products actually made their way onto the prototype for an updated version of the app!

Emil R: I am happy with the Global Expansion and Banking projects I worked on during my rotation with the Operations team. Both projects gave me the ability to think like a product manager or in-house consultant. I was able to design a study to explore how Webull should venture into new markets.

Sam M: I am really proud of a working model a fellow intern and I created during our rotation with the Risk team. The model allows the controller to have optimal control of where trade execution is being forwarded. The idea was received very well by the team!

How would you describe the work culture/environment of Webull?

Olivia K: The work culture is super relaxed, and there is a great sense of community. The laid-back atmosphere makes it easy to feel comfortable and focus on your tasks without the pressure of a rigid structure. I found every day at work enjoyable, and every interaction I had was an opportunity for me to learn and grow.

Molly K: Young, welcoming, and friendly.

Nicole H: First, working in any finance environment can be intimidating. During the first couple of weeks, I would get nervous talking to people because everyone is so talented and has amazing backgrounds. Everyone I've been able to talk to was welcoming and helpful. I can see how much Webull values its employees, which is something that is important to me.

What was your favorite part of the internship program?

Emil R: I enjoyed spending time with and learning from my fellow interns. We had incredible discussions related to our assigned projects.

Sam M: My favorite part of the internship was visiting the New York Stock Exchange. It was interesting to learn about the history of the US equities market and spend time on the floor. The experience was informative and unique.

Olivia K: Webull values their interns and encourages us to share our ideas. We aren't just assigned busy work. Most employees are open to our suggestions and actually work to bring our ideas into play. Seeing our contributions have a real impact on the company was incredibly fulfilling.

What financial knowledge have you developed or improved upon during your internship at Webull, and how do you envision applying it in your future endeavors?

Nicole H: I learned a lot about financial concepts that were not covered in my university finance courses. Financial literacy is so important, and I truly believe that no matter what you plan to do in the future, managing and understanding your finances is vital. I learned a lot about stocks and what “losing money” really means. I also learned about different types of trades, like futures and options, and thanks to Frank and the clearing team, I started paper trading and hopefully will continue in the future.

Olivia K: This internship has really expanded my understanding of complex investments, including options, futures, and cryptocurrencies, and how market trends can impact these strategies. I'm excited to apply this knowledge in the future, whether it's to make more informed investment choices or to start planning my financial future. The insights I've gained will help me navigate the financial industry no matter where my career leads.

Emil R: Before interning at Webull, I had no previous trading experience. I now understand asset classes and feel more comfortable managing my personal portfolio.

If you could give one piece of advice to next year's interns, what would it be?

Emil R: Always be proactive and approach people to learn more about their daily tasks. Use your privilege of being on the floor and learn as much as possible about what everyone does. That knowledge can be used to make educated decisions about your future career.

Olivia K: Talk to as many people as you can! Stick around after five to get to know your co-workers! They are really welcoming and can become valuable connections for you.

Sam M: Learn as much as possible. Webull's internship program allows you to visit multiple departments, so use that opportunity to talk to people who have different areas of expertise.

Describe the entire experience with ONE word:

Molly K: Valuable.

Nicole H: Priceless.

Sam M: Exposure.