Hi everyone, I'm currently a sophomore in college. I did not get a banking internship for sophomore summer 2024, but I have the options to go with either a pretty new hedge fund or a capital management firm that does financial restructuring. Both of these firms are pretty small and not well-known. The HF has 400m AUM and does L/S.
How will this look for my junior summer recruitment? Any advice?
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Hey there! Based on the most helpful WSO content, both options you have for your sophomore summer internship can be beneficial for your junior year recruitment. Here's why:
Hedge Fund: Working at a hedge fund, even a new one, can provide you with valuable experience in investment strategies, financial analysis, and risk management. This can be very attractive to investment banks, as these skills are highly transferable.
Capital Management Firm: A role in a firm that does financial restructuring can also be beneficial. You'll likely gain experience in analyzing financial statements, understanding debt structures, and possibly even some exposure to M&A - all of which are relevant to investment banking.
Remember, it's not just about the name of the firm but the skills and experiences you gain. Make sure to leverage what you learn during your internship in your interviews for junior year positions.
Also, don't forget to continue networking throughout your sophomore year and into your junior year. This can be just as important, if not more so, than the internship itself.
So, go ahead and choose the opportunity that you feel you would learn the most from and enjoy the most. Good luck!
Sources: Can we get a list going of sophomore summer 2019 programs/internships? (Confused), https://www.wallstreetoasis.com/forum/job-search/summer-internship-advice-0?customgpt=1, Advice For Sophomore Summer Internship, https://www.wallstreetoasis.com/forum/job-search/advice-for-sophomore-summer-internships?customgpt=1
I'd go with the HF. I don't know what a "capital management firm that does financial restructuring is". You are likely describing it incorrectly. I'm assuming its some sort of RX turnaround consulting firm. The HF, even if small, is easy to understand. 400m while small, is impressive considering its L/S. Go with that unless you are deadset on RX which you shouldn't be.
Why is L/S more impressive?
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