What to expect from a Business Development Internship?
Hello everyone,
Rising sophomore at a non-target here. I've been offered a business development internship role at a MM IB for the fall semester.
1- What will I essentially be doing during my time there?
2- Do you think the internship will help me land an analyst position for my junior year?
3-How is it viewed upon on a resume?
Thank you for your time!
bump?
Business Development can refer to two very different roles. 1) Corporate Development & Strategy 2) Sales & Marketing At a BB I imagine it will be the latter.
What sort of analyst position? It will help you get interviews for positions that require a similar skill set so maybe you could make a case for an equity sales type role...
Some roles mentioned were market research, looking for companies looking for funding, debt restructuring or any merger and acquisition, setting up meetings with clients to expand the relationship & see what services the bank can provide... No modelling at all, though.
It's at an investment bank. I would take it and just soak up as much knowledge about the industry as possible and asking for work that involves excel / PPT. and kill it so they will want to hire you as an analyst next summer (or you can move on to a bigger / better bank)
Will try my best, thanks for the input.
Bus. Dev. Intern at a Boutique Investment Bank (Originally Posted: 12/11/2013)
Hi everyone! I'm currently a sophomore at a top-50 non-target that's in the process of seeking a summer analyst/internship position within IB.
One of the boutiques (Provident Healthcare Partners) I applied to/got in touch with for IB stated that they would like me to interview with their business development team. I was curious if anyone had any insights with how business dev. interviews go, and what the job would potentially like. Most of the threads I've read on here deal with business dev. from a F500 company standpoint so I'm really unsure of what this position entails.
Thank you! -T
Boston based? Ill assume you go to BC.. Ive done business dev before for a f50 healthcare company, and it was a lot of industry/market research. It wasnt bad and skills are kind of applicable to IB if thats your end goal.
For a sophomore internship, BizDev i-banking positions are great, though the work is nothing sexy.
A of the work done in a bizdev at an i-bank is contact management and engagement. Expect to be looking up a lot of potential targets/aquirers (if in an m&a team) and inputing their information (contact, financial, etc.) into salesforce databases. Also, expect to be involved with the pitch process, usually helping format and researching information for the slide decks. Finally, expect to do a lot of prep work for any conferences seniors in your group might be going to. That can consist of scheduling meetings, contacting attendees and the like. Overall, your modelling experience will be pretty light, but if do you well in your regular roles and reach out to others in the company they'll certainly be willing to give you more responsibility.
This is pretty spot on. My bank also produces mini industry and M&A research reports. These are generally the responsibility of the BD group.
take it
Thanks everyone for the replies. I really appreciate the insights.
So in regards to the interview for this, is it appropriate to assume that it'd be mostly fit and firm specifics, with perhaps a little industry knowledge?
Also, would this be preferable to a F50(0) corp. finance intern or PWM in terms of getting into IB? I am interested in getting a SA position with an elite boutique/BB next year.
Thanks again!
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