Is an internship in AM or WM relevant for a career in IB?

I just finished my first year at a semi-target university in the Netherlands (Erasmus), and I have the opportunity to intern this summer at an AM or WM branch at the biggest bank in my home country. Would this help me at all?

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An internship in Asset Management (AM) or Wealth Management (WM) can be relevant for a career in Investment Banking (IB), but its impact depends on how you position the experience. Based on the most helpful WSO content:

  1. Relevance of AM/WM Internships for IB:

    • While AM and WM are not directly aligned with IB, they still provide exposure to financial markets, client interaction, and analytical skills, which are valuable in IB.
    • WM internships, in particular, are sometimes regarded as less rigorous, but having the name of a reputable bank on your resume can still be beneficial, especially early in your career.
  2. How to Leverage the Experience:

    • Highlight transferable skills such as financial analysis, client relationship management, and market research.
    • Emphasize any technical tools or software you used (e.g., Emoney, GPS, NETX360) and how they enhanced your understanding of financial products or client portfolios.
    • If you worked on any significant projects or gained insights into investment strategies, make sure to showcase these during IB interviews.
  3. Networking Opportunities:

    • Use the internship to build connections within the bank, especially with professionals in IB or related divisions. Networking can open doors to IB internships in the future.
  4. Next Steps:

    • If you aim for IB, consider pursuing a more directly relevant internship (e.g., in corporate finance or IB) in your second or third year. WM or AM can serve as a stepping stone, but IB recruiters typically prioritize candidates with direct IB experience.

In summary, while an AM or WM internship may not be the most direct path to IB, it can still add value to your profile if you strategically highlight the transferable skills and experiences gained.

Sources: Asset Management vs Investment Banking 101, Does a risk management internship at a Big 4 (freshman year) fit into pursuing an asset management career?, Advice for summer Asset Management interns, Freshmen: What to do during your freshman year summer, Day In The Life of an Asset Management Summer Intern

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
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