Bank of America Student Leaders Internship Program - 8 Reasons to Apply
If you're a high school student keen on leaving a positive impact on your community, honing your leadership skills, and getting some experience in business and administration — you should definitely apply for internships. A strong internship program you can consider is the Bank of America Student Leaders Program where you will have the opportunity to work on building a more inclusive and diverse society and learn how to work effectively with others, lead projects, and develop strategies for success.
This program offers a platform where you can develop your communication, problem-solving, teamwork, leadership, and critical thinking skills. You will gain first-hand experience in community service while working towards increasing youth employment and economic mobility. An internship opportunity like the Student Leaders Program will also help you network with professionals and enhance your college applications!
What is the Bank of America Student Leaders Program?
Every year, the Bank of America Student Leaders Program admits over 300 community-minded high schoolers into the program. Once selected, you will intern with nonprofits like Boys and Girls Clubs of America and Habitat for Humanity, and engage in community service through a paid eight-week internship.
During this program, you will also participate in the National Student Leaders Summit held in Washington, D. C., and understand how stakeholders like nonprofits, governments, and businesses collaborate and interact to meet local needs. This experience will enable you to create change and improve lives in your community.
How is the Student Leaders Program structured?
As a Student Leader, you will participate in an eight-week paid internship at a local nonprofit organization where you will learn first-hand about the needs of your community and the critical role nonprofits play. In addition, you will learn valuable civic, social, and business leadership skills.
Each intern will attend the Student Leaders Summit held in Washington, D.C., where you will learn how government, business, and the nonprofit sector work together to address critical community needs.
If you are selected for the Student Leader program, your internship will be at a nonprofit organization located near you. These organizations are partners of the bank and are selected by Bank of America.
The 8-week program is inclusive of the week spent at the Student Leader Summit in Washington, D.C. from July 22 to July 27, 2024.
Who is eligible to apply?
To be eligible to apply for the Student Leaders program, you must:
Be a current high school junior or senior.
Be legally authorized to work in the United States without sponsorship through the end of September 2024.
Be able to participate in an 8-week paid internship at a local nonprofit/charitable organization and work 35 hours a week.
Be able to participate in a week-long Student Leaders Summit in Washington, DC (July 22 - July 27, 2024).
Be a student in good standing at your school.
Permanently reside in one of the eligible locations (markets).
Have not been previously selected for the program. (Students who applied in a previous year and were not selected can reapply if they meet other eligibility criteria).
Note: Bank of America employees or members of their immediate family (e.g., children, siblings, grandchildren, nieces, nephews, etc.) are not eligible to apply for the program.
How to apply?
Applications for the 2024 program are now closed. The application process for the 2025 program will open in fall 2024. You can apply online at www.bankofamerica.com/studentleaders when the application opens in the fall of 2024.
1. One letter of recommendation is required as part of the application. That letter must be:
From an administrator/teacher/guidance counselor or coach at your current school.
On the school letterhead.
Signed by the recommender
In an unencrypted PDF format
Submitted with your application by the application deadline of January 17, 2024, OR through the link by the end of the day on January 18, 2024.
Any application that does not include the required letter of recommendation will be disqualified from consideration. For the full letter requirements please check out the Recommendation Fact Sheet.
2. In your application, you will be asked for the contact information for your recommender. Once your application is successfully submitted, your recommender will receive an email (sent from do_not_reply@cybergrants.com) that will include a link and your Request ID. The recommender should follow that link to upload your letter. Please note – they will need your Request ID to do so. Request IDs are generated after your application is submitted and will be emailed to you and your recommender.
3. A resume is not required. However, you can include one with your application but it should be no more than two pages.
In case of any query, you can contact them at foundation@bofa.com.
Dates and Deadlines
The deadline for submitting your application for the 2024 program year was 11:59 pm Eastern time / 8:59 pm Pacific on Wednesday, January 17, 2024. Students can expect deadlines for 2025 to be around the same time. There are no exceptions to this deadline and extensions will not be granted.
All Student Leaders applicants will be notified via the email provided in their application by April.
Each market has the option to conduct interviews, but there is no information about which markets choose to do so. Markets that do interviews typically do them before the end of March as all applicants are notified of application status in April.
Internship start dates vary by market. You can expect your internship to begin shortly following the end of your school year. The internship will run for 8 weeks and includes a week in D.C. for the Leadership Summit.
The 2024 Student Leaders Summit will be held in Washington, DC at the Hyatt Regency Crystal City from July 22 to July 27, 2024. Students can expect the 2025 summit to be held around the same dates.
Cost & Stipend
The cost to attend the Student Leader Summit is paid for by Bank of America. This includes baggage fees, travel to and from Washington, D.C., hotel accommodations, and all meals. Students only need to pay for their souvenirs and incidentals.
Bank of America student leaders are typically compensated with a paid summer internship along with various benefits. The exact pay rate can vary depending on the location of the internship, but it typically ranges from $15 to $20 per hour. In addition to the hourly pay, student leaders may also receive housing stipends, transportation reimbursement, and other perks.
Location
The program is held all across the country, where you will be assigned a nonprofit organization to work with, located in your region/area. The Leadership Summit will be held in Washington D.C. You take a look at the multiple locations available here.
Cohort Size
Through the Student Leaders program, more than 300 community-minded high school juniors and seniors from over 100 communities are connected to employment, skills development, and service. Student Leaders are selected after a rigorous application process involving thousands of applications from across the country. Each market’s cohort is made up of 2-5 student leaders. The acceptance rate for the Bank of America Student Leaders Program is between 5 and 8% making it an extremely selective and competitive internship program.
8 Reasons to Apply to the Bank of America Student Leaders Internship Program:
1. Real-world work experience:
The Student Leaders Program will provide you with leadership development opportunities, real-world work experience, and exposure to the banking industry. Some student leaders may be offered full-time employment opportunities at Bank of America after completing the program.
2. Great networking opportunities:
During the program, you will attend networking events, seminars, and workshops where you have the chance to meet Bank of America employees, as well as nonprofit leaders. The program has a strong reputation within the corporate sector, and being selected as a participant can help you access and apply for internships, job opportunities, and scholarships. You can read about the work past Student Leaders have done here.
3. Mentorship From experts:
You will gain guidance and insights from experts and professionals in the banking sector. The program’s structure also ensures that you work with multiple experts.
4. Community service:
As a Student Leader, you will get to work at a local nonprofit organization where you will learn first-hand about the needs of your community and the critical role nonprofits play in serving these communities.
5. Leadership opportunities:
You will have the opportunity to work closely with a local nonprofit organization (such as Habitats for Humanity) dedicated to addressing the needs of a community. This hands-on experience will allow you to contribute to meaningful projects and work on your communication, community outreach, and problem-solving skills.
6. Competitive stipend and other incentives:
Each student leader is provided with a stipend of $15-20 per hour. You are not required to relocate/travel beyond your district or area, as you’ll be paired with non-profit organizations that are based locally. Additionally, each student leader will be invited to attend the Student Leader Summit that is held in Washington D.C. each year, with all costs covered by the Bank of America. You can use this stipend to save up for college or to further your work with nonprofits and other organizations.
7. Prestigious addition to your resume:
Around 300 Student Leaders are selected with a rigorous application process from thousands of applications. The acceptance rate for the Bank of America Student Leaders Program is between 5 and 8%. The program is fully funded, offers a stipend, and provides its participants with enriching opportunities, making it one of the most prestigious internships for a high school student in the summer. You can mention your work experience with your assigned organization in your resume, as well as recommendations gained from your mentors or coworkers for your college application.
8. College preparation:
This program will help you to prepare for college and a career in public policy, law, or community-centric roles. You will also be able to reach out to mentors and program staff for advice regarding college admissions and building a strong profile, as well as any other program-related query. As a Bank of America Student Leader, you will be expected to attend workshops and seminars focused on building essential career skills.
Participating in national programs, such as this, demonstrates leadership, problem-solving, communication skills, and motivation to make a real-world impact. Pairing prestigious opportunities with independent research in a chosen field can distinguish your application when applying to competitive schools and undergraduate programs. Student Leaders Program is an excellent paid internship opportunity that will help you gain real-world experience while serving your community.
Looking for an immersive internship experience?
Check out Ladder Internships!
Ladder Internships is a selective, virtual internship program where students work with startups and nonprofits from around the world! The startups range across a variety of industries. As part of their internship, each student will work on a real-world project that is of genuine need to the startup they are working with, and present their work at the end of their internship. In addition to working closely with their manager from the startup, each intern will also work with a Ladder Coach throughout their internship. Apply now!
Stephen is one of the founders of Ladder Internships and a Harvard College graduate.