2025 Investment Banking Summer Analyst Program-M&A (SF)

Campus Program
San Francisco, CA
February 5, 2024

Campus Role Type
Internship/Co-Op and Summer Opportunities

Start Date




Pay Range

$24.00 – $38.75 hourly

Department Overview

TD Securities is recruiting undergraduate sophomores to join our 2025 Investment Banking Summer Analyst Program within the Mergers & Acquisitions group at our San Francisco office.
This 10-week program will provide exposure to summer analysts who can expect a fast-paced, demanding work environment that offers the chance to learn and grow professionally through on-the-job training working with dynamic deal teams.

The program takes place from early June to mid-August 2025. The summer program is the main pipeline to our full-time class for the following year. The expected annual base salary is $110,000, pro-rated for the length of the summer internship. Salary offers are based on a wide range of factors including relevant skills, training, experience, education as well as market factors.

Job Details

The Mergers and Acquisitions (M&A) Group, based in San Francisco, is dedicated to strategic advisory and M&A execution principally within the healthcare (biopharma) and consumer sectors. The group focuses on a broad range of transaction types, from traditional M&A to strategic partnerships.

What to Expect
Training & Orientation:

The internship will begin with a one week of formal training in New York City for all summer analysts that includes orientation and interactive technical training. This training is designed to teach you the building blocks of financial institutions, Excel, and PowerPoint, which will prepare you for the next nine weeks of the internship.

Mentorship and Networking:
Summer Analysts will have the opportunity to engage with bankers at all levels across all teams, designed to familiarize participants with the workings of Investment Banking. Summer Analysts will also be able to participate in social networking events with one-another as well as colleagues across all divisions on an on-going basis to experience our culture and assimilate into our Firm.

Hands-on Experience:
Day-to-day activities include financial analysis and modeling, company and industry research, involvement in the development of client presentations, and interactions with senior bankers and clients.

Job Requirements

  • Pursuing a bachelor’s degree with an anticipated graduation date between December 2025 and June 2026.
  • You must be work authorized in the United States without the need for employer sponsorship.



  • No prior experience in finance is required, but a keen interest in Investment Banking is requested.
  • Results driven, proven academic excellence and strong interpersonal skills.
  • High ethical and professional standards.
  • Strong financial/analytical skills, knowledge of MS Excel preferred
  • Proactive and highly motivated
  • Able to work effectively in a team environment and independently
  • Demonstrated leadership (i.e., sports, clubs, extracurricular activities, and philanthropy, etc.)


  • Deadline to apply: Sunday, March 3 at 11:59pm ET.

  • Interviews will take place on a rolling basis from March through April 2024. Candidates will participate in virtual preliminary interviews; if selected to move forward, candidates will be invited to our San Francisco office for final round superday interviews.

Company Overview

Our Values
At TD, we’re guided by our purpose to enrich the lives of our customers, communities and colleagues, and share a set of values that shape our culture and behaviors. In exchange for how our colleagues show up to help TD succeed, we are committed to delivering a colleague experience grounded in Impact, Growth and a Culture of Care. No matter where you work across TD, we empower you to make an impact at work and in your community, explore and grow your career, and be part of our caring and inclusive culture.

Making Your Well-being a Priority
A caring and supportive culture that promotes colleague well-being is core to who we are. At TD, we focus on total well-being with extensive programs to help colleagues assess, manage, and improve their well-being across four core pillars — physical, financial, social and mental/emotional. In addition, we champion a safe and inclusive work environment, so colleagues feel a sense of belonging and feel supported in their personal and professional growth. Through our focus on well-being, we know that we can help our colleagues thrive, contribute to our culture of care, and support better business outcomes, because when colleagues feel their best, they’re more likely to do their best.

Our Total Rewards Package
Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals. Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition.

How We Work
At TD, we believe in-person connections fuel collaboration and collective creativity. Our workplace experience empowers colleagues to do great work side-by-side at TD locations, while offering flexibility to work remotely where it makes sense for the work and team. Our teams work in one of three workplace models: hybrid, onsite and primarily remote. Wherever our colleagues are working, they’ll always have access to the TD community to experience our culture of care.

Who We Are
TD Securities offers a wide range of capital markets products and services to corporate, government, and institutional clients who choose us for our innovation, execution, and experience. With more than 6,500 professionals operating out of 40 cities across the globe, we help clients meet their needs today and prepare for tomorrow. Our services include underwriting and distributing new issues, providing trusted advice and industry-leading insight, extending access to global markets, and delivering integrated transaction banking solutions. In 2023, we acquired Cowen Inc., offering our clients access to a premier U.S. equities business and highly-diverse equity research franchise, while growing our strong, diversified investment bank. We are growth-oriented, people-focused, and community-minded. As a team, we work to deliver value for our clients every day.


Our Commitment to Diversity, Equity, and Inclusion
At TD, we’re committed to fostering an environment where all colleagues are encouraged to bring their authentic selves to work, experience equitable opportunities, and feel respected and supported. We’re dedicated to building an inclusive workforce that reflects the diversity of the customers and the communities in which we live and serve.

EOE/Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity.

If you are a candidate with a disability and need accommodations to complete the application process, email the TD Bank US Workplace Accommodations Program at USWAPTDO@td.com. Include your full name, best way to reach you, and the accommodation needed to assist you with the application process.

How We’re Helping Make an Impact in Communities
TD has a long-standing commitment to help drive progress towards a more inclusive and sustainable future. That’s why we launched the TD Ready Commitment in 2018, now a multi-year North American initiative. Under the TD Ready Commitment, we are targeting a total of $1 billion by 2030 in community giving across four key, interconnected drivers of change: Financial Security, Vibrant Planet, Connected Communities, and Better Health. It’s our goal to help support change, nurture progress, and contribute to making the world a better, more inclusive place for our customers, colleagues, and communities.

We look forward to hearing from you!