Any intel on castle placement boutique IB in NY?
Just came across a boutique investment bank called castle placement.
Anyone got any insight into it?
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Scam
Why do you say so? Any experience?
Anyone else have any intel on this ?
Scam. Any place with seemingly endless number of interns, most of whom are international, should be a massive red flag for you. Looks like over half their staff or maybe even more are just unpaid interns.
What do they get out of this? It just doesn't make a lot of sense to me why a place would so this, and seems like a good first experience. Just curious as I hear people saying it's a scam when we have access to very superficial information at best.
Unpaid internships are one thing in media or marketing but they are not at all common in finance and the places that do it are not reputable. It's scammy because it is taking advantage of college students, usually internationals who do not know any better. They won't look good on your resume, the experience is typically not useful/transferable, and if someone googles the place and realizes it's an unpaid waste of time they won't think highly of your resume. I know it's hard to get your foot in the door but these types of places do not have former interns going onto top banks for a reason.
As for what they get out of it... are you asking if they benefit from having 50 interns doing unpaid work? I'm assuming you guys do stuff like PPT edits, huge research data digs, maybe some comps. This is equivalent to the India team in IB. If you're admitting you have very low information access then think long and hard about whether you are actually gaining transferable skills or knowledge. No one will be that impressed if you can barely talk about your internship in an interview
sorry not trying to be harsh here - just think this is manipulative of these shops.
Interned there a little while back. They do not pay their interns but if you are competent you can get solid deal experience - you just need to build you ethos. Some of the MDs are great and other suck and do not care about interns. They only do capital raises.
Hello, I know it's an old post but I have a question for you. What would you estimate is the approximate % chance of a successful capital raise for a client who pays the upfront $20,000 fee? How many go on to get funded on average?
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