Does having multiple Private Equity internships look bad for IB SA?
Hey guys,
So just wanted to check whether having multiple PE internships look bad when applying for IB SA? For context I spent my freshman year in public markets, one semester of sophomore year in a PE Firm and now potentially the summer in another PE Firm (with a different focus).
Just worried that I may seem like a 2 years and out IB analyst (even though everyone does this), and also worried about the eventual question "Why IB over PE" (AM is easier to answer).
Thanks guys!
I had a PE internship last summer and was asked "why IB over PE" in almost every interview I had for SA recruiting this fall. The answer I gave, which was usually quite well received was something along the lines of "I really enjoyed the analysis that went into placing investments, but more than that, I really enjoyed advising portfolio companies, helping them grow and navigate obstacles etc. Over the course of the summer however, I came to realize that operated in a small niche and dealt with primarily very similar companies, and I became interested in serving in a similar advisory role but with companies on a larger, more global scale and across a more diverse set of transactions. Ultimately it became clear to me that banking is the perfect place to do that"
you can try to tailor that answer to your specific circumstances, but it was good enough to get me an SA offer
as for explaining why you did a second PE internship, I don't think that will be too difficult. just think of something about your first PE internship that inspired the move to the second PE, and then you can use the "why ib over pe" to explain the move away from PE to IB