5/14/12

Hello Guys,

I've been asking a lot of questions on here recently regarding unpaid internships, loans, etc. I have one final question that I was hoping some people could help me with by providing proper arguments. Here are my options, (I will leave out complicated monetary situations regarding each position for now and just refer to them as either paid or unpaid):

S&P 500 Corporate Ratings Summer Analyst - Paid - Beginning June - Mid August

Boutique IB (A) Summer Analyst - Unpaid - Mid June - Mid August:
Work in small IB group dealing mainly in emerging market mining/energy.

Boutique IB (B) Summer Analyst - Stipend - Beginning June - Mid July:
Work in small NYC IB group that deals mainly with credit.

Boutique IB (C) Summer Analyst - Unpaid - Beginning June - Mid August:
Small NYC IB group deals almost exclusively within real estate.

If the actual names of these boutiques is any help, please PM me. I've had an onslaught of last minute possibilities coming up and it is quite overwhelming.

Just to clarify, I'd really like to go into IB or ER after school or possibly Trading. I'm currently a junior if you don't know.

Regards

Comments (21)

5/14/12

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5/14/12

I would go with Boutique B... Honestly depends on what you want to do, but credit exposure is far more valuable than RE/mining IMO. S&P sounds awful unless it somewhat parallels what you want to do... At the end of the day you just need to make a gut decision and do what will make you happy and where you'll fit in best.

5/14/12

Actually let me elaborate on my previous answer:

It really depends on what you're going to do in those internships. Are you in the front office for the boutiques? for S&P? My suggestion is to take the FO one. If you're doing actual modeling with the boutique, go with the boutique. If you're doing analytical work for S&P, take the S&P. Just don't take the job where you have to do the bitch work.

5/14/12

Congrats on the offers! I'd say Boutique B is good, but it ends mid july...is there anything you could do to fill up that last month? Possibly ask them to extend it to mid august?

5/14/12

They all seem to be FO positions. I interviewed earlier this year for an S&P ABS analyst and (assuming its same role which it should be, just Corporates), I'd be working with analysts on creating reports to present to board regarding ratings of whatever securities being reviewed.

The boutiques are all over the place. All FO, the IB (A) in mining was weird bc the IB manager said he'd love to have me and it'd be a good set up. I'd get to sit in on meetings, help with comps and such. Then another manager said his son did it, hated it, and I'd be better off going home for the summer.

IB B is quite structured, set times, set stipend, job considerations, and paid for exceptional project works.

They all seem decent, but I'm very intent on taking the one that is best experience for me. Another consideration is that I'd be living in CT this summer. Up near Waterbury. So the commute to NYC (esp S&P which is downtown) would be a real pain in the ass compared to the IB A, which is in CT as well.

Anyways, thanks for the help. Will take all suggestions into consideration.

Further suggestions still welcome though, given above information.

"History doesn't repeat itself, but it does rhyme."

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5/14/12

Also, info. regarding networking opps would be great! Thanks

"History doesn't repeat itself, but it does rhyme."

5/14/12

Personally, I think you should have stuck with ABS rather than move to corporate (for S&P). And I think out of those 3 boutiques, #2 is good. Just because it's more structured and you have a chance of getting hired for FT.

5/14/12

I'd go with IB A, but that is bias because I like the energy aspect. Overall, I think IB A or IB B just because B provides stipend.

In reply to FLundertow
5/14/12

Anacott_CEO:
I'd go with IB A, but that is bias because I like the energy aspect. Overall, I think IB A or IB B just because B provides stipend.

Why not S&P Corp Ratings out of curiosity? Do you (or anyone else) think that this would translate well into experience for an IB FO job for next fall's recruiting?

Thanks

"History doesn't repeat itself, but it does rhyme."

5/14/12

I'm not sure what aspect of corporate ratings it is, but if it is the quantitative research one which I saw posted a few times, I am just not a fan of that whole field. I would try to get deal exposure and see how IB works. That's just me, but you say you like ER, so you may want to consider that.

5/14/12

Boutique B sounds good, especially if it's more structured (and the stipend doesn't hurt). Congrats on all the offers!

In reply to asiamoney
5/14/12

asiamoney:
Boutique B sounds good, especially if it's more structured (and the stipend doesn't hurt). Congrats on all the offers!

Thanks! I've been waiting so long for them and not I'm getting a bunch in mid May so I'm panicking since its soo late and I need to make a quick decision. Boutique B is also an exploding offer due Wednesday this week so I need to act quickly.

"History doesn't repeat itself, but it does rhyme."

In reply to FLundertow
5/14/12

Anacott_CEO:
I'm not sure what aspect of corporate ratings it is, but if it is the quantitative research one which I saw posted a few times, I am just not a fan of that whole field. I would try to get deal exposure and see how IB works. That's just me, but you say you like ER, so you may want to consider that.

Do you think banks would see this as good experience? I'm questioning whether or not many of the recruiters next fall at BBs (for example) would look better upon a banking internship or the S&P internship. S&P might even have a better, more relevant experience to what I'd be doing for work, but I feel like institutions like that are given less consideration than those in the banking community.

"History doesn't repeat itself, but it does rhyme."

In reply to streetwannabe
5/15/12

streetwannabe:
Anacott_CEO:
I'm not sure what aspect of corporate ratings it is, but if it is the quantitative research one which I saw posted a few times, I am just not a fan of that whole field. I would try to get deal exposure and see how IB works. That's just me, but you say you like ER, so you may want to consider that.

Do you think banks would see this as good experience? I'm questioning whether or not many of the recruiters next fall at BBs (for example) would look better upon a banking internship or the S&P internship. S&P might even have a better, more relevant experience to what I'd be doing for work, but I feel like institutions like that are given less consideration than those in the banking community.

I'm a firm believer that if you want IB experience, go for an IB gig. But the S&P role does seem to provide some technical skills as well with building models and whatnot. S&P is a good name to have on there and I think it would attract some attention for future recruiting (especially if you can portray the skills gained on paper).

For me I would make sure I ask each place exactly what you would be doing and what skills you would gaining. IE, the IB roles, if you'll be thrown right into modeling and helping with that or if you'll be more of an admin and just doing misc stuff. That's the thing with the smaller IB shops, you never know.

That would be a plus of the S&P, it's probably really structured and you will for sure gain some solid skills. Considering that, I would ask each IB what they see for the intern role. If you hear some good answers, consider that. If they aren't sure and give a vague answer, I would lean towards S&P. I'd call asap as well.

In reply to FLundertow
5/15/12

Anacott_CEO:
streetwannabe:
Anacott_CEO:
I'm not sure what aspect of corporate ratings it is, but if it is the quantitative research one which I saw posted a few times, I am just not a fan of that whole field. I would try to get deal exposure and see how IB works. That's just me, but you say you like ER, so you may want to consider that.

Do you think banks would see this as good experience? I'm questioning whether or not many of the recruiters next fall at BBs (for example) would look better upon a banking internship or the S&P internship. S&P might even have a better, more relevant experience to what I'd be doing for work, but I feel like institutions like that are given less consideration than those in the banking community.

I'm a firm believer that if you want IB experience, go for an IB gig. But the S&P role does seem to provide some technical skills as well with building models and whatnot. S&P is a good name to have on there and I think it would attract some attention for future recruiting (especially if you can portray the skills gained on paper).

For me I would make sure I ask each place exactly what you would be doing and what skills you would gaining. IE, the IB roles, if you'll be thrown right into modeling and helping with that or if you'll be more of an admin and just doing misc stuff. That's the thing with the smaller IB shops, you never know.

That would be a plus of the S&P, it's probably really structured and you will for sure gain some solid skills. Considering that, I would ask each IB what they see for the intern role. If you hear some good answers, consider that. If they aren't sure and give a vague answer, I would lean towards S&P. I'd call asap as well.

Yeah, I've thought about this. One of them seems quite structured and gives me the opportunity to which area or group I'd like to focus with. The S&P position is no doubt the most structured and I will have to ask about more of the specifics of the job.

"History doesn't repeat itself, but it does rhyme."

5/15/12
5/15/12

S&P if you want to go into ER. Bank B for IB. Given you don't seem completely sure which of the 3 (ER, IB, Trading) you want yet, I think best option is Credit IB since it will leave you the most room to move around. And I still have a bone to pick with some of the ABS guys over there at S&P, maybe they need smarter people and you can save the day though haha. Congrats on offers though.

I hate victims who respect their executioners

In reply to BlackHat
5/15/12

BlackHat:
S&P if you want to go into ER. Bank B for IB. Given you don't seem completely sure which of the 3 (ER, IB, Trading) you want yet, I think best option is Credit IB since it will leave you the most room to move around. And I still have a bone to pick with some of the ABS guys over there at S&P, maybe they need smarter people and you can save the day though haha. Congrats on offers though.

Ironic you mention the ABS since I interviewed there earlier this year! And that's what I'm afraid of. Might be a good place and plenty of smart people, but I'm worried they are conveyed on the Street as a bunch of morons. The corp. ratings is probably the one Anacott CEO suggested, quantative analyst, which I'm not sure why they're contacting me since the req's are at least 2 comp. sci. classes with C++, etc. I have not taken any of those classes and while I like to think I'm pretty mathematically capable, I'm not computer guy and after reading the req's don't really feel qualified.

Given the general concensus on here however, I'll probably give IB B more consideration.

Thanks for the input!

"History doesn't repeat itself, but it does rhyme."

In reply to jgx101
5/15/12

jgx101:
Congrats on the offers! I'd say Boutique B is good, but it ends mid july...is there anything you could do to fill up that last month? Possibly ask them to extend it to mid august?

I was planning on trying to work something out. Not sure why they'd have any objections for more cheap labor, so I'll see.

"History doesn't repeat itself, but it does rhyme."

5/15/12

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"History doesn't repeat itself, but it does rhyme."

5/15/12

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