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What are the best possible internships for a student like me (non-target, rising sophomore) to position themselves for an SA stint in IBD? Excluding boutique/MM IB internships? Which types look particularly better on a resume and which ones are worthless? I'm sorry if this question has been beaten to death but anyone who has valuable info is really appreciated. Thanks

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Comments (10)

  • monkeymonkeybusiness's picture

    You could try something in startup/tech they are easier to get as a younger student

  • analyst_808's picture

    Same question i asked an associate at gs a while back. In order of attractiveness: After mm/boutique ibd, pe/vc, investment management, corporate finance (as in finance for like a fortune 500 company)

  • KeepYourDistance's picture

    I did a PWM internship at a bulge bracket after my sophomore year at a non-target...it's nothing extremely prestigious, more standard, but you can use that summer to network, ask around, and get contacts to their IB division.

    Although as they mentioned above, a small/MM boutique internship in IB is probably better since you'd actually have IB experience going into junior SA recruiting.

  • In reply to DreamMonkey
    reddog23's picture

    If not a boutique/MM IB internship then probably something like a Boutique/MM PE internship, maybe even a HF or VC. There are also PWM internships (but everybody does that); I would argue that BB back office internships sophomore yr are solid (but most people on this board would beg to differ)

    I'd argue that a BO at a BB your sophomore year would be better than banking at a no-name boutique, though I have no idea which one is looked at more favorably by recruiters. The work experience may not be directly relevant, but you still have plenty of time to pick that up.

    You will, however, still have formal training, gain plenty of contracts within the bank, work in a more group based environment and have a chance to prove yourself in a competitive environment.
    Just about anyone can get an unpaid internship at a small boutique, just by cold calling. Getting a BO position as a sophomore is more difficult. IMO, obtaining one as a sophomore will if nothing else show that you are a competitive candidate with the initiative to obtain an internship typically reserved for juniors.

    Also, if you decide next year that banking is not for you and trading may be more towards your liking, having that BO internship will put your in a much more favorable light than a no-name boutique. Having a firm understanding of how back-office works and being able to see things from their point of view will help you immensely as a trader.

    As I've said before, take anything I say with a grain of salt. I have no idea which one will help you out more, but I personally feel that as a sophomore, if you have the choice between a BO role (in say finance or risk) and a FO role at a no-name boutique, you should seriously consider taking the BO position. Note: If you are a junior or a sophomore with an offer at a place people have heard of, don't even consider the BO position.

  • HarvardOrBust's picture

    Pretty sure if you can get a PE internship at a megafund, that's better than any gig at a boutique/MM IB. Same goes for top hedge funds.

    My question is: where does fund of funds fall?

  • Neighbor's picture

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