Any other underclassmen doing bs “IB” internships?
I’m doing an unpaid “IB” internship starting now for the fall of sophomore year at a local shop. Kinda bullshit as I’m not really doing much real IB work. Most interns are MBA candidates who are far more qualified than myself and therefore get to do real modeling, while I’ll only get to touch a small few.
I mean I feel like this kinda sucks since I was hoping for more exposure, but at the same time, I can put IB on my resume even though very little of the work is IB related, so I can’t really complain.
Any other underclassmen find themselves in a similar spot?
LMM PE is better if you want actual work - leaner shops, live deals (at least before this market), and similar skills. IB may still be an easier story to sell though.
I was in the same place my sophomore summer though. I was able to pull experiences related to building decks and valuing companies for market updates. Just focus on building your network and picking the brains of those you are working for.
Working in LMM PE and can confirm. We're still doing a number of deals and it's awesome because there are only 6 of us working on them.
I did try for PE, but the only positions I was able to land were for search funds where a lot of the work would be cold calling which is a big no for me.
Yeah this is a bullshit role but honestly it’s a light load and I can say IB and just mention the few models I did work on during future interviews.
My first experience was also at a search fund. While it was boring, I liked it because the person running the fund had NYC BB experience, so he provided some great advice. I then leveraged that to PE/IB experience after that. Those roles were obviously more valuable, but I wouldn't have been able to get them without the first experience at the fund.
You definitely have to build your way up, from your first internships to working on WS.
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