Offered an internship for well known RE PE shop as an incoming Senior in Los Angeles. What do you think?
Got an offer for a summer internship at a prestigious real estate private equity firm. The firm hires dozens of interns in the summer. I would be working with an associate and it seems that the position is not necessarily a Summer Analyst position. It's just a general internship to help out with compliance, admin, etc. I won't learn how to build models, which is definitely something I'm looking to add to my skill set.
How valuable is this position? (It's paid, 40 hrs/week)
How can I use this position to potentially land an SA position next summer, or an analyst position next fall?
How can I show interest in learning to build models, even though the recruiter mentioned that the position will not entail modeling?
Any other input will be appreciated. I'm looking to get hired by a high-salary paying firm by the time I graduate.... whether it's investment banking or private equity.
And now to answer your questions. Compared to how you're currently spending your summer, I'd say absolutely accept the offer! No job vs RE PE internship of some kind. Come on... really?
Take it. If you're not an idiot, they'll let you touch something that you can turn into modeling experience on your resume.
I'm really curious how much your compensation is
...minimum wage.
It sounds like you are not yet in your junior-to-senior summer, so I would say at your level you are not far behind the ball. If you are at an elite RE PE firm, then the back office group is probably pretty siloed apart from the acquisitions team, and you will not likely touch any acquisitions modeling. You should also understand that the associate you will be working for would prefer to be in acquisitions, and has no shot himself, so nagging for modeling work will probably serve mostly to antagonize your boss.
You should work hard, ask for more, don't make mistakes, show interest in the work you are given even if it seems menial and unrelated to what you want to do, and have a good attitude. If an appropriate opportunity arises to meet with people on the acquisitions side of the business, it's okay to show you're interested (better done by asking smart questions about what they do than about them hiring you or giving you work), but try to use discretion.
When recruiting, avoid the temptation to make the work you did seem like something it wasn't. People see through that. Take time on the side to have a firm grasp on industry news and corporate finance so you can have an intelligent conversation and nail a technical interview.
What are your alternatives?
Also, don't BS about learning modelling skills during your internship (interns don't learn modelling anywhere as far as I know, but I could be wrong).
Learn them on your own if you want to mention it during furture interviews and be prepared to be tested if you do.
A good name is good to have on your resume.
alternative is to do nothing and enjoy my summer instead of spending 9-5 in the back office. i have previous banking experience for two different boutiques, but both of them were seasonal internships that did not provide modeling insight.
You got an internship this late? That's impressive. I am still looking, a little afraid to cold call (still looking for my balls)
Yeah sounds like you may be too good for this internship, if your superiors get wind of that, it could turn out to be a disaster. You may want to pass it up.
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