Boutique Investment Bank Internship
I'm a freshman at a target that received an offer to a boutique IB in their MM group. I was wondering what I should expect and what I should be doing/learning to prepare to get the most out of the opportunity. Thanks.
post if you have more specific questions. Grats on the offer!
Thanks asiamoney for your answer on the phone call thread too
No problem, glad to see that everything worked out.
bump
Boutique IB SA (Originally Posted: 08/20/2011)
Are boutique IB SA generally paid for rising juniors? I'm thinking of trying to get an internship in new york, but don't want to fly across the country to work for free.
some will pay but don't expect junior year BB comp. just intern in your nearest city.
Depends on the boutique. The better ones will pay you the same as BB
Do you mean elite boutique?
No, I interned at a boutique during my junior summer and was paid was 80k annualized.
most boutique's i interviewed with // the one one i interned at was unpaid. never saw a paid boutique SA with above a $500/month stipend. from my visibility, a paid SA at a boutique is hard to come by.
Boutique IB internship (Originally Posted: 11/30/2011)
Hey guys,
So I know I may be a little late on the networking trail but I have been emailing a few MD's from boutique IB firms in NYC and the suburbs of NYC. I am really trying hard to land the coveted IB internship. I have a 3.3 gpa from a semi target (no BB firms come to my school besides Citi) so all I am really left to do is Network. I am a junior. Does anyone have any tips to get an internship besides just networking and praying? I have good experience- PWM at ML and a few leadership positions here at school. I am looking for FO not BO. Anything helps. Thanks
Take the MDs to a strip club for lunch.
call and network. do you have friends who intern at boutiques? they can give you a referral..
Boutique IB interns... (Originally Posted: 05/03/2011)
Guys, just wondering what you folks interning at boutiques are doing day to day. Also, for those already full-time, as an MBA interning at a boutique what should my top learning objectives be to be competitive when looking for full-time upon graduation.
My M&A boutique internship is all over the place, but I am working for a 10 man shop.
Daily activities are really random depending on what the senior guys need. It can be anything from creating Public Information Books, Updating spreadsheets/dashboards, some modeling (nothing crazy here though, since its smaller companies), updating pitchbooks, and/or random misc research.
However, if the senior guys are busy and dont have work to give to me, I complete modeling tutorials on my own and I've been reading/taking notes/walking through the models of "Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions" (I bought it on Kindle for PC). Solid book, gives you a pretty good analyst introduction to modeling and M&A stuff.
My internship was not structured at all, no training, no nothing. I had to hit the ground running and catch up, but I guess that may be a good talking point when I try to get FT interviews.
thanks for your input. I was wondering this as well. I'm looking to intern at a boutique this summer. I have an interview as soon as I get back home from school. Wish me luck!
For the past two semesters I have interned at a boutique firm that primarily focused on media technology companies. The experience was similar to that of 'idragmazda'. I am happy to say that i did not have to cold call of fax anything, not even once. I learned a lot about the media technology industry which has helped land me another boutique internship this summer within same industry.
The experience is a combination of the firm itself and what you make of it. Most boutique banks will not have structured internship programs, therefore it is really up to you to make the most of those experiences. In my honest opinion, it is best to have one or two internships with boutique firms because the experience will significantly put you at an advantage when applying for BB or FT positions.
Best of Luck!
Thanks for the replies!
idragmazda,
That book was recommended to me and it seems like a very good resource although I have not got through much of it do to my schedule of: new father; full time job; class; and internship. Primarily what I am doing now is research but should get into some modeling soon. As you said it will be nothing crazy. Hope it is enough when I start interviewing.
20% client meetings/discussions 30% pitching 20% financial modelling 15% data entry 15% client documents
This was my SA stint
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