investment banking nternship vs. Backpacking in Europe/Travel
So this is for my junior summer and I got two boutique investment banking offers. One in Chicago and one in New York. Out of those two the NY one seems much more legit and when I interviewed they seemed to have a pretty good deal flow so I would get a lot of exposure and be able to learn a lot.
Only thing is...both are unpaid internships. And for whatever reason my parents said they would rather have me travel and go wherever instead of working unpaid (I was like wtf when I heard this). At first I thought it was totally crazy and stupid, but I don't really know when I'll have a chance to go travel and I've never been anywhere other than my home country.
If I didn't have any finance related internships I would def choose the boutique, but I am currently doing a spring BB internship in AM (bo). Will I be okay once FT recruiting comes around or if having a summer ibd internship is necessary? I was thinking I could say that I wanted to take some time to travel before I graduated but I'm not sure how that will fly during interviews.
As a side note, I'm not dead set into getting a FT banking offer. I think I'd be okay with another job in finance as long as it's NOT BO.
What should I do?
you clearly havent read anything on this website before....
having an IBD internship will help you MUCH more for any type of recruitment in this job market than traveling will. traveling will be more fun, but for your FT recruitment (whatever it might be), looks really shitty if you just decide to take a summer OFF when all your competition is doing work/interning
also, BB AM as you call it---cmon, its wealth management. i did that too, so did everyone else, its actually NOTHING to brag about
sorry for the harshness, but be happy i am telling it to you straight up that your passing on golden opps at these IBD internships to travel (which is idiotic in my opinion) and not sugar coating it for ya
IB boutique in NY or forget about finance. maybe find a nice bartending job on an island while youre traveling.
travel between graduation and your start date, not the summer of your junior year
Do the IBD internship in NYC, without question.
You'll have plenty of time to travel later in your life
this is still pissing me off
many kids i know were dying for an unpaid IBD position (and didnt get anything bcuz of the market), and you are considering throwing them both away?
lol chill out. Just wanted to see what other people think. I was leaning towards NY but I guess the allure of being able to travel had me doubting myself. And it's not like I just called up a couple banks or got it through connections. I spent a lot of time networking and sending/calling banks and following up to land an internship. That said, I do appreciate the comments/input.
If anyone is looking for an internship in Chicago, message me and I'll forward along your resume. It's not the best opportunity and I'm not sure how the deal flow is there, but it would be better than nothing.
Also, does anyone know how much it would cost to live in NYC for ~10 weeks? Including the cheapest housing + food + going out now and then? Will I have to drop at least 5k?
^glad to see you've come around :)
congrats and hope you learn a lot this summer
You can make it pretty well on ~1100 a month if you go super cheap and are willing to live in Brooklyn/Queens via room share.
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