Recently required an internship at a boutique IB for the winter of 2019 as an analyst. This is obviously great for recruiting, but I don't plan on securing a FT offer. Nonetheless, I plan on being a useful intern and hope to learn a lot in the process. Are there any things I should be doing now to make sure that happens, such as buying the WSP modeling package and learning valuation/modeling on my own?
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Why wouldn't you plan on a return offer? Do you mean that you don't plan on securing one, or you don't plan on accepting one?
Already at a target and don't need an offer. The goal is to recruit for BB/EB/Upper MM
I personally don't like the "I don't want a return offer mindset," so if possible, go in there with the intent that you want to stay and get a return offer. Outside of that, just focus on valuation, understanding business models, and maybe even reach out to ask them directly how you would prep.
damn got MS for saying im trying to recruit for BB/EB because I go to a target. Lol the salt is real by non targets
Before purchasing modelling guides, make sure you can answer why you didn’t get the return offer in an interview if you don’t plan on it
That got MS, but you likely will be asked that.
The valuation/modeling material will be great for your own personal knowledge, however, you will likely do zero modeling in the winter internship. I would brush up on excel and PP as much as possible.
I'm assuming you're an incoming junior since you mentioned wanting to recruit for BB/EB. In that case ignore everyone who's saying you should try to get a return offer at this place. in my experience boutiques that give you a non junior summer internship know you won't be coming back and won't give you an offer regardless. it's my sophomore summer and the boutique I work out made that expressly clear before I started and it was the same for my friends in similar positions. That doesn't mean slack off though, put in 100% effort every day.
Don't bother learning modelling on your own.If it's a more established boutique with a good distributions of staff, you'll mostly be doing grunt work (binding pitchbooks, doing research_ with a few real tasks here and there (a slide or two in a presentation, doing VLookups, maybe assisting with a model here and there). Or if you're at a smaller firm where they have very few analysts it may be 50% that 50% you doing an actual analysts job and having to step up. Either way, you won't be expected to know how to do anything and the analysts will show you. Definitely not worth spending $800 on a modelling course.
Also think of a few websites where you can mindlessly scroll through for a few hours because you'll have a lot of down time.
Actually this is my freshman summer. The boutique is pretty tiny 10 analysts.
Superb advice for those freshman and sophomore boutique internships
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