Would this look good on my resume? Or should i keep looking?
Hey guys, I got a few connections to a very small private equity firm that was just founded in 2005, so i may be able to get an unpaid internship there freshman year! I feel like this would give me good hands on experience, since it is such a new firm.
Should i go for this internship, or should i keep cold callign for other opportunities? I feel like it;s impossible for a freshman to get a BB firm job, but I'm worried, is it bad for a company to have no reputation at all? Or is it good for my resume, as long as i get good experience?
uhm you most likely won't get a BB internship after freshman year but you could try cold calling other boutiques / smaller firms. however, any finance internship after freshman year is great. it's not as much about the name as about what you learn. it definitely won't work against you that the firm has no reputation at all - worst case scenario it will just be ignored. however, it will probably very helpful for getting sophomore and most importantly junior year internshiops. however, if i understand you correctly you haven't even started college yet..i recommend focusing on other things right now dude..you're not gonna enjoy college life if you already stress out about ur career.
Take the internship and learn whatever you can. You have 4 years ahead of you. What happens if this place starts killing it when you graduate. Might be good to get in on the ground floor.
A no name PE internship freshman year is better than nothing at all. If you know you can get the unpaid internship you might want to keep calling around and see if you can snag a paid internship. The unpaid is a good fallback option but you might as well get paid if you can.
Try to get more info on the type of work you'll be doing so you can accurately assess the quality of the experience you'll gain. Also, the fact that it was started in 2005 doesn't mean its not a good fund or good place to intern.
The one point I would raise is that Wall Street internships are generally paid internships because they try to attract top talent. So if there is a Wall Street firm not paying interns, the implicit signal is that their recruiting isn't really as competitive as the street = experience won't be that great.
But considering you're a freshman, you don't have much to offer anyone really, so even an unpaid internship isn't too shabby. We have in the past brought on freshman interns only as favors to very well known friends of the firm (think Karl Ichan, Bruce Wasserstein) who are usually their kids. But on the whole, they're pretty useless because they can't do much and the little you do let them do it takes you longer to explain it to them than it would take to do it yourself. On top of that, you pretty much have to do it yourself anyway cuz you need to check every millimeter of their work.
Bottom line: you have nothing to offer anyone really, so take whatever internship you can get. If you have the choice between several offers, take the one that offers the best experience over pay.
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