Dual internships. Conflict of interest?
I'm currently a sophomore at a non-target with a 3.8 GPA and prior internship experience on an algo trading desk at a fintech company in NYC. My goal is to ultimately land a junior-year SA role in BB IBD.
I have been fortunate enough to have opportunities at both BB PWM (not in a regional office) and a boutique IB in Pennsylvania. The PWM opportunity is a 10-week program beginning in February. I will not have class two days a week next semester (I'm pretty ahead in terms of course credits), so I will be coming into the office on those two days from 9 to 5. The investment bank would like me to do remote work during the academic year and then relocate to Pennsylvania for the summer.
My question is, are there any potential conflicts of interest arising from doing work for both groups over the spring semester? Is it absolutely necessary for me to notify either one that I am also doing work for another company?
Would really appreciate some guidance on this. Thanks in advance.
Yes, this is a conflict of interest. Easy solution would be to try to get out of the remote work part of the IB internship. Not sure how the remote work part of your internship came about, maybe you can say your coursework / job will take up more time than expected. Otherwise you definitely need to at least inform both firms.
I was not too keen on working remotely for that reason, but one of the partners at the boutique seems to have a project that I would be good for. As I see it, my options are A) choose not to work remotely on the partner's project and risk losing the opportunity to summer at the boutique, and B) tell neither firm and risk the consequences.
Even if you tell neither, you will get asked about this (and probably dinged for it) in every subsequent interview.
Just do the boutique IB.
Two Internships- SAME TIME (Originally Posted: 06/16/2017)
I'm currently a sophomore at a liberal arts, non-target school that recently secured a PWM internship at Merrill Lynch for the summer. I'm only working about five hours a day, so it frees up my afternoons pretty well. However, yesterday I got a phone call from an alum from my school who runs a small IB firm in NY who was willing to offer me a part-time "virtual" analyst IB internship which would involve some market analysis/excel work from my home (not near NY). He said it would be good experience and that he could be flexible around my current internship if I was at all interested. I'm really looking to see if IB is a path I want to pursue, but I was just wondering if putting both down on my resume would create conflict when recruitment happens in the fall. Any response would be great.
I'm also thinking about doing two part-time PWM internships this summer, my thought process is that the second one will help fill up my resume, anyone have any thoughts on this?
Potential conflict of interest for SA position? (Originally Posted: 05/11/2011)
Hi everyone,
I'm working at a BB this summer in S&T, and was recently invited to a one-week program at another BB. The program focuses on IB and not S&T, and obviously concludes before my start-date at the other BB.
My question is - do I need to disclose that I'm attending this program to the BB I'm at for the summer? I recently had a friend lose his summer analyst position at a unrelated BB because he didn't disclose his work at (yet another) BB during the school year (I'm not sure of the specific details). I obviously want to avoid any chances of this happening to me.
Also, if I do disclose this to HR, will it hurt my chances in any way for a full-time offer? I really don't think it would, but I guess it might be seen as a lack of interest in the firm. I should mention that the place where I'm doing my summer stint is of "higher reputation" than the bank offering me the one-week program, but I'd like to get a "hands-on" view of IB so I can contrast it with my S&T experience.
Thanks in advance for any guidance.
I'd say it's always better to be open and honest than to be found out later. Besides, BBs always love a little healthy competition. They probably will like it that you're being sought out by another BB.
Thanks for your answer...would love to hear if anyone else agrees/disagrees. I want to get this taken care of with HR (if necessary) by the end of the week.
bump
Hasn't your HR asked you about that already? I was asked whether or not I would be doing internship elsewhere. She said my answer wouldn't affect me in any way.
I second corporatechic's reply. Disclose it, they probably wouldn't mind
Interning in Buyside and Sellside at the same time? (Originally Posted: 11/05/2013)
2 part-time offers at a tech IB and also HF covering tech. Though both focus on different subsectors. What do you guys think?
Go for it. You'll likely have to clear it with each firm as they'll have confidentiality agreements, etc.
I'm concerned that this is unethical/illegal as I know the firewall is a big deal at major BBs...
Correct, control room won't allow it. And it's "info walls" not firewall.
Legal to take both internships? (Originally Posted: 05/16/2017)
I am currently a private wealth management intern for a middle market bank. I received a part time internship offer from a very small IB. It is quite possible to work at both due to only a few days at each place. Is it illegal to work for both places? Or is there a conflict of interest?
Another thing to consider is your answer when it comes up in interviews. Often times, the person on the other side of the table may discount the legitimacy of both internships because IB work in itself is not a "part-time job."
Not illegal, but you will probably need to disclose it to both firms. If they hired you as part-time, generally they're okay with you taking on other positions.
Working 2 Internships.. (Originally Posted: 05/24/2011)
Sopomore or Freshmen Summer...
Smiled upon or Frowned upon?
Curious also
thank for the bump pang.
not using the search function is frowned upon.
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