alternatives to BB
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Working for the fed would be a definite positive on your resume.
Pay at all of them will be lower than BB.
I would imagine that the database providers would offer comprehensive training, however, you would not be gaining the experience received in a traditional investment bank, i.e., interaction with sales, trading, IB and clients. Getting C-level executives on the phone may be harder, as well. I would also imagine that the pay scale is much lower, and that moving into a sell-side boutique, middle market or BB firm would be only slightly easier than if you had no experience at all. You would still start at the bottom of the totem pole. Federal reserve employment would enable you to move into a financial institutions group on the sell-side, and would, IMO, carry more weight than the other options listed.
My $0.02.
I was under the impression Fed internships/jobs are useful more for economists than future finance professionals or bankers. Sure you'd get a first hand look at a lot of financial happenings but it isn't the same kind of work or atmosphere as a bank, or a firm like morningstar is it? Certainly though the name couldn't hurt...
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