CBS Finance Internship: A Deep Dive
A finance internship at CBS (now Paramount Global) offers a valuable glimpse into the world of media and entertainment finance. These internships typically expose students to various aspects of financial operations within a large, publicly traded corporation. The specific responsibilities and experiences will vary depending on the department and team to which an intern is assigned.
Potential Departments and Responsibilities
Interns might find themselves working in areas such as:
- Financial Planning & Analysis (FP&A): This involves budgeting, forecasting, and analyzing financial performance against targets. Interns might assist in preparing monthly reports, analyzing variances, and developing financial models. They could also contribute to the annual budget planning process.
- Accounting: Interns may support the accounting team with tasks like journal entries, account reconciliations, and preparing financial statements. This provides exposure to GAAP (Generally Accepted Accounting Principles) and the month-end closing process.
- Treasury: Interns in treasury could assist with cash management, foreign exchange transactions, and debt financing activities. They might analyze cash flow projections and support the execution of investment strategies.
- Investor Relations: Interns may help prepare materials for investor presentations, analyze market trends, and track shareholder activity. This area offers a unique perspective on how a company communicates its financial performance to the investment community.
- Business Unit Finance: Specific business units within CBS, such as CBS Sports, CBS News, or Paramount Pictures, may have their own dedicated finance teams. Interns in these roles would support the financial operations of a particular segment of the company.
Skills and Development
A CBS finance internship provides opportunities to develop a range of valuable skills, including:
- Financial Modeling: Building and manipulating financial models in Excel is a common task.
- Data Analysis: Interns learn to analyze large datasets to identify trends and insights.
- Communication: Presenting financial information clearly and concisely, both verbally and in writing, is crucial.
- Problem-Solving: Interns are often challenged to solve complex financial problems.
- Industry Knowledge: Gaining a deep understanding of the media and entertainment industry is a significant benefit.
The CBS/Paramount Global Culture
Interns often report that the culture at CBS/Paramount Global is collaborative and supportive. Mentorship opportunities may be available, and interns typically have the chance to network with professionals across different departments. The company values innovation and creativity, which can lead to stimulating and engaging work experiences.
Landing an Internship
To secure a CBS finance internship, strong academic performance, particularly in finance and accounting courses, is essential. Relevant internship experience, even in other industries, is also a plus. Demonstrating proficiency in Excel and other financial software is important. Finally, strong communication and interpersonal skills are crucial for success in the interview process.
Conclusion
A CBS finance internship offers a unique and rewarding experience for students interested in pursuing a career in finance, particularly within the dynamic media and entertainment industry. The opportunity to work on real-world projects and learn from experienced professionals can provide a significant advantage in the job market.