[Internship: Freshman] What would be better?

Let's say I have great contacts with whom I've been speaking with for a while in two major banks - the first a BB and the second a major European bank.

The first option would result in an internship in IBD over the summer [freshman year]

The second option would result in an internship in Corp. Finance [freshman year]

If I choose one, I have the opportunity to use the contact to gain an internship in my sophomore [second] year at the other company.

Since the BB is an IBD gig, would that be better off used in my second year? Or should I use this contact and try to leverage the BB IBD experience to getting another BB IBD internship second year?

[extra information]
I'd like to go into IBD in the future, preferably at a BB.

 
Best Response

If your goal is IBD, go with the BB no question. Having IBD experience on your resume at such a young age is great. Once you start internship at the BB, you can move from your group freshman year to a group you really want sophomore year or maybe junior year. There is no reason to do corporate finance if your interest is IBD. Doing IBD also sets you up better for finding other internships incase IBD is not for you.

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."
 

Awesome, thanks. I also may have the opportunity to intern in Structured Finance - how would that match up? It's at top-3 european bank. How would that stack up to a BB IBD internship in freshman year?

 

Dude, you obviously have your shit together and this shouldn't be a difficult decision. If you want to do Ibanking, you should take the BB gig. Even if it isn't in your preferred area, you will build up some brand equity by working there and having that BB on your resume as a freshman is damn near priceless...

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

Thanks haha.

Okay cool, let's say I have a contact in PE with whom I can get an internship. My long-run goal is to leverage my M&A experience into PE (if I can't get in straight from undergrad, which I think is fairly likely) - would this serve my interests better? How would it look? It's not a megafund, it's more of a boutique in California. Would the BB brand be better than this PE stint?

 

Take the BB as you will almost definitely have to do that before PE. Not to mention the fact that a freshman at a PE firm would look weird on a resume unless it was a name brand. If it is a name brand than do whatever the fuck you want because you are obviously connected enough to work at walmart this summer and still get a job

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

Ut aut et odit commodi velit. Quidem fugiat pariatur molestiae fuga qui. Reiciendis accusantium culpa est. Et aspernatur non assumenda ut. Aliquam aspernatur doloribus incidunt et. Vel nam enim laudantium suscipit. Recusandae eius aperiam nam perferendis rerum consequatur.

Ea non velit voluptates quae. Voluptas sed odio ipsum natus. Fugit maxime dolor pariatur eaque quis alias deserunt.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
98.9
7
DrApeman's picture
DrApeman
98.9
8
CompBanker's picture
CompBanker
98.9
9
kanon's picture
kanon
98.9
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”