Hi,
Can anybody share any info about this firm? It's a MM boutique firm in NY that's been around for 5 years after spinning off from Morgen Evan.
Got an internship offer and was wondering if anybody had something to say about the experience here.
Thanks!
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I heard from a friend of a friend who used to intern there it is basically a sweatshop that uses their interns as cheap slave labor. You would be better off staying away.
Ok experience overall
most deals are going to be cross border deals with sell side clients from korea
mostly admin stuff you work on but you also get to work on cims and comps but no real “modelling” experience (btw you dont need those for interviews)
If you dont have any better options i think its an okay banking internship you can talk about during interviews
also ppl r pretty nice and understanding not sure about the slave comment (hours arent exactly “banking” hours but the work can be VERY boring sometimes but what do you expect)
Again not my own experience so take it with a grain of salt.
But my friend says that the firm lures the kids in with the promise of a full-time position at the end of their internships and pays almost nothing for the internship. And more often than not, they are not planning to hire new workers in the first place. They just want to use the seasonal workers as cheap temp labor, in place of their own workforce.
If this is true, I think this is very shady, especially compared to other boutique firms (ex. William Blair) and big firms (Goldman etc.) that actually intend to hire most of their interns for the full-time positions, if they perform well. This deception may work for awhile, but I think eventually the word will get out, and they will not be able to get high-quality interns. And since they do not have the necessary full-time staff to carry out their jobs, their work product will surely suffer, too, in the long run.
i dont understand why you are trying to speak on a firm you never worked for.
they never tell you that this internship is convertible to a FT position, and they are very clear to you that the internship will be unpaid (to OP, this is very standard practice for regional LMM shops). Nothing about the internship was shady by no means. Yes they may be understaffed but they dont lure in interns by just lying to them about ft offers lmao
you trying to compare blair to this company on the basis they are both “boutiques” shows how clearly uninformed you are about this industry in general
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