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JonahSinick comments on Earnings of economics majors: general considerations - Less Wrong
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You are right about i-banking not skewing the median case. I don't know what i-banks think of STEM students. You apply for the internships as with normal jobs. I suspect that elite college career development offices have lots of information on internships. My students who want to be investment bankers all seem to know about the importance of internships.
It could skew the median case if there are people who do econ majors specifically because they want to become i-bankers and also have expected earnings above the counterfactual median.
Hey Jonah, you might be interested in http://www.mergersandinquisitions.com It's been years since I looked at it and it's been extensively redesigned but as a site with information about I-banking it was excellent way back. There's an associated site of similar quality on Management Consulting as well. Its name escapes me but it shouldn't be too hard to find from M&I