Queries about RFP Summer Internship
I recently secured a RFP role at one of the top 10 asset managers. Previously, I completed a DCM internship at a European middle-market bank.
I'm now debating whether to accept this role, as the title suggests a middle-office position despite the strong brand name. The interview process was also quite confusing, as the job scope differs from what was stated in the job description. My interviewer also holds a CFA and works as a fixed-income product specialist.
My long-term goal is to work in front-office investments or an IBD role, so I’m concerned that this internship won’t meaningfully contribute to my experience—especially with penultimate recruitment approaching. That said, I understand that large asset managers typically reserve front-office or direct investment summer internships for MBA/Masters students rather than undergraduates.
Given these considerations, I would appreciate any insights on whether taking this role could still be beneficial or if I should hold out for a more relevant opportunity.
Two items - your interviewer, is that 'product specialist role' where they are part of the RFP team and focus on RFP's/RFI's/etc. for fixed income products, or is that a true 'product specialist/strategist' where they sit between the investment team and sales/marketing/etc. as an SME to the RFP process, focused on fixed income? The second question is around job description - what differed, as that's often not great to have as part of the interview.
If it's truly an RFP writing role - for most firms nowadays, you are more a project manager/processor than you are a true 'writer' for the most part. Most firms have massive libraries of data/answers, they assign out SME's, and sometimes will help re-write or customize certain sections (i.e. a cover letter if applicable) or new/stale/old questions. The upside is that you have access, and should end with fluency, in what the firm does, their products, strategies, and a ton of useful knowledge or access about who to network with, etc. The downside - it's not at all an investment role, and while it gives you access/foot in the door, you need to be very strategic with it and it's still a hard transition. There's certainly some more intersting roles/avenues here - say writing thought leadership or heavily customized/technical strategies where a CFA comes in handy, it is interesting seeing them preferred or required for increasingly non-investment roles.
My caveat here is that sometimes albeit not usually - and this is only because of the interviewer you noted - roles that sit in portfolio strategy/product specialist type teams will heavily interface with RFP's, writing materials, answers, etc. These are the groups/roles that sit between investment team, are the SME or input to the process, sometimes act as a quant/strategy group for the investment team, and more often/also interface with clients on relationships where you need more in depth product knowledge, strategy knowledge, etc. I don't think that's this situation - but those are out there.
Yes you are right, my interviewer did mention that he now sits between the investments team.
In that case what are the likely day to day that i can expect as an intern, since the job description and queries with the HR is awfully vague as well.
If you can provide the description or the various descriptions, that would be helpful - admittedly it's really challenging to provide specifics, as it seems like the hiring firm isn't even certain on the role.
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