Internships are definitely important for iBanking jobs. Usually you want to have an investment banking internship after sophomore and junior years of college. Banks come onto college campuses to recruit for internships in the late fall or mid-winter. When you get to college, ask your on-campus career office what the timing was like last year, to get an idea of what the timing will be like this year. You should look at some of the job placements from last year to get an idea of what is required. Usually those requirements are: high GPA, previous work experience of some kind (e.g., other internships), and a proven interest in finance (e.g., a club or two). Once you get an interview, you'll need to practice a lot for the interviews (they're usually very challenging), but that's getting onto a different question.