Industry Coverage Banking Internship
I'm two years our of college and currently working at a boutique consulting firm that services the healthcare industry, we are located in Boston. Unfortunately, my firm is being sold and, long story short, this is my last week of employment. I have been trying to get a job in banking all this year but to no avail. I do have the option of moving to NYC and working as an intern for a boutique bank that covers the healthcare industry. Is it crazy to consider relocating for an internship? If I stay in Boston I will be able to get a job at a competitor consulting firm--I don't much enjoy the work, though.
Only you can answer whether it's worth it or not. Do you want to move into banking longer term? Do you see yourself getting a full time offer from this shop? Is it a good enough shop to provide you with the kinds of exit opps you're looking for down the road? If so, relocating could make sense. Otherwise, you might consider staying in Boston and hunting for an opportunity in healthcare that you would enjoy (not necessarily in consulting).
This firm that I would be interning is one that I have wanted to work at for some time. I was finally introduced to a director there and we had a good conversation and he told me that they can't hire anyone full time since they're fully staffed but usually there is turnover in Q1.
I do happen to know that this bank has interns throughout the entire year, most likely doing grunt work. I guess I'm just scared that I might not be able to earn a full time offer and then I would just be burning through savings, sitting on my couch applying to job posting.
How long could this internship last you? Does it pay well enough to cover living expenses in NYC? Sounds like this move could pay off for you if you started networking from day 1 in NYC to land a full time gig at another shop... if you can't do that, could you move back to Boston and fall back on another healthcare consulting gig? You're at a time in your life when you can probably afford to take a risk like this if you go about it the right way, assuming this is the path you want to go down... sounds like either way you are currently unemployed and this opportunity is right in front of you, so if you live frugally and recruit wisely there is decent upside in making the move.
I am naturally risk averse (like you probably are), so my answer would change if you didn't have this internship locked already locked up, but it sounds like you do so your downside is limited to how long you stay in NYC after the gig ends.
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