Summer Intern: Boutique IB (but probably not too much banking work) or UBS WM?

Boutique.

/thread

WTF. You said you wanted to do modeling. If you want even the slightest chance in hell being able to model, why would you not go to the boutique?

Choose the Boutique, do the shit they give you and then go in on the weekend and model the shit out of every deal they're working on. This way you can still pick up the skills you'll need and be able to write 'Investment Banking Analyst' on your resume.

Fuck UBS, you'll just be hitting the phones all day and it's a complete bag of shit anyway.

Thanks for the comments! I'd do exactly the same had I didn't feel so weird at the interview - it was actually short, they just mentioned need someone to help with the new website, have good writing skills and social media experience. Also there will be a lot of writing on reports. If they seriously need an intern to do modeling wouldn't they be more prudent and ask me some finance questions at the interview (but this one is unpaid so I guess that's the difference, they just make me fill in any project & role)? What if I go with the boutique but end up being like a social media editor? While I'm not sure about what it is like in UBS, but if all I get is dirty work wouldn't UBS be better?

Don't do UBS...everyone does UBS WM.

Urm... I'm in Hong Kong, actually here hardly any one does UBS WM in sophomore year.

And UBS is highly recognized here

Ok fine you seem to have made up your mind...have fun at UBS bro.

work at UBS would be worse

I don't understand why people come on here and ask for advice, but they've already made up their minds. Anyway, if you do the UBS pwm internship you'll be screwed come junior recruiting. Like people have already said, everyone does PWM. Take the boutique IB experience, learn modeling on your own, and when you interview junior year, talk up what ever little deal experience you did get and back it up with the modeling you learned yourself.

So basically, it's brand name vs experience.

Being a sophomore, I haven't really got any brand name under my belt, and this summer internship will be my first step into the industry. That said, a more relevant experience will be preferred. Problem is it's like UBS WM vs. Boutique researcher + social media editor, so that the experience may not be that solid. That's why the choice can be hard. The boutique is waiting my answer within 36h, and I have 2 more interview opportunities waiting, one with a corporate bank, one with a venture capital firm. You may say that I can take the spot first, but if I break the contract I will pay quite a big sum of money.

Input appreciated!

Honestly I would prefer the boutique to UBS, but I know quite a number of bankers here in HK and they just feel UBS will be better. I'm thinking is it becuz things are different in the two places?

HK SA positions are getting more and more popular, but I'm still wondering when you guys say everyone has done WM before SA recruiting do you mean NYC / London positions?

so you guys would take boutique internship (probably research-related work, not modeling work) over a BB pwm gig for sophomore summer?

Bumping it up! Any more input appreciated!

Jesus dude, you need to sack up and make a decision already. Everyone's said the same thing with compelling evidence going one way. If it makes you feel any better, I chose boutique IB over UBS PWM my sophomore summer and I'm going to an elite boutique this summer from a non-target.

wtf do u expect to do at UBS?

writing/editing is better than cold calling at WM.

Thank you guys for providing compelling insights. I would've made my decision already if I'm only choosing between the two spots.

However, let me give more details and what's my concern about it: I'm invited for the first-round interview at a venture capital firm, which is like a dream place to me and they pay me. At the boutique and UBS, however, I not only don't get paid, but will need to pay an agency several thousand grand. In fact, UBS hasn't begun their interview yet, but I just know I stand a good chance (5 out of 20 candidates). If I turn down this boutique in my hand by the end of tmw, I will be interviewed by UBS next weekend, which gives me more time to wait for my dream venture capital interview result.

Major conflict: Turn down the boutique, try UBS and wait longer for VC, OR Take the spot, still go ahead with VC, if get the offer, break the contract with the boutique and probly still pay the agency a large sum of money - just to make sure I wouldn't get nothing in the end.

Make sense?

Thanks in advance for your insights.

You had to pay an agency to get an unpaid boutique internship? Ouch...

Yeah, reality here for HK kids. Better than nothing or other trivial internships right? At the end of the day, isn't what I get to put on my resume matter? Think it as connections - if you can't make the people choose you, do something to change it. No solid connections -> pay for it. That said, I'd love to hear how to land one without external help.

Better than nothing or other trivial internships right?

To land one without external help, COLD CALL. You'd think this would be common sense...

Every soph. internship is going to be bullshit. Think they are going to spend time to edit your terrible modeling skill? The answer to that rhetorical question is Fuck No. Get a grip, take the LA job and redo their modeling on your own time. They won't have a problem with you saying you helped out with with some of the valuations on your resume. Just make sure you can easily talk about the deal and what your model helped figure out...

Thanks. Cold call is good way, I know several guys succeeded with it before, and I think I can do just as well.

I realize that the title of this thread is not so accurate in terms of what I'm facing. Put it this way:

Pay several thousand grand now for a boutique IB reseacher / social media marketer / maybe modeling, go on with VC interview, if get the offer turn down this one, but may still pay much money

OR

Pay the same amount for UBS WM, just the decision can be made two weeks from now so that once I have good news from VC I can stop this BS internship hunting and no need to pay anything. Risk is both interviews haven't taken place yet and I might end up having nothing by mid-May.

Just trying to stall them for the VC.

Take the financial risk?

NO. DON'T PAY MONEY. kthxbai

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