This is probably a stupid thread - I just wanted to get an opinion from those who have "been there done that."
Freshman at a semi-target. Great scores, stats, and ECs. I am currently considering two internship possibilities for the summer:
A) UBS Private Wealth Management in New York: I made a similar post before, but to reiterate, I love the people I'll be working with. Boss is a great guy. However, this is only half of the internship. I would have the opportunity to be a temp in UBS IBD the other half of the time. No real structure; it's kind of like a "create your own internship" which would give me a nice, well-balanced experience. I wouldn't be doing any actual financial modeling, though. Just observing. Housing options already lined up. Plus, it's New York and I got a lot of buds there.
B) BB Real Estate Principal Investment in London/Hong Kong (I am being ambiguous on purpose. ): Yeah, this is a HUGE opportunity. This is not the real estate industry group of BB IBD; this is the principal investment/ private equity arm of a BB. Think MSREF/ GS REPIA/ DB RREEF. I know that I will gain invaluable financial experience, as well as more knowledge about the RE industry. Work experience aside, I love to travel so going abroad is a huge plus. My only concern is one that has been voiced quite emphatically across these forums, namely: Am I pigeonholing myself? For a first internship, I feel that maybe this experience will be too specialized and too real estate intensive. Krakauer, a WSO poster, labeled it as more of a "career post" then a good place for exit opps.
I am leaning heavily (actually, "falling" would be the better word) towards the second option. Can anyone dismiss the validity of my concerns?
Questions:
1) Which one would be looked upon more favorably for a BB SA stint next summer?
2) Assume I choose the BB real estate principal investment internship. Should I even consider doing sell-side work in IBD for next summer? With this BB REPE internship under my belt, can I keep doing buy-side work over the next three summers and land a PE gig out of undergrad? Or is some IBD necessary?
3) Out of those three mentioned above - MS REF (AUM +$80 billion), GS REPIA (AUM ?? billion), DB RREEF (AUM +$80 billion) - which one is the most prestigious?
Any help is really, really appreciated. Thanks!
everyone does PWM. I'd do the other just to make yourself stick out. Someone correct me if im wrong, but ur only a frosh, u rnt pigeonholing urself unless u accept something specialized FT.
i would take the second- just b/c neither is ibd and at least the second gives you international experience which is important!
If you are a freshmen from a semi-target, it will be extremely difficult for you to land an SA position for next summer. Sophomore programs are extremely competitive at the top Ivys and although either one of these experiences is fantastic, your university combined with a (currently) sour job market will make it nearly impossible for next summer. This is assuming you are shooting for a BB. I would second both opinions already expressed and get the international exposure as well as the specialized experience that will prove in the long run to be much more valuable than the PWM position. Additionally, I am not sure what kind of work you would be able to land with a "create your own internship" with UBS IBD. No offense, but I don't think you will command or deserve any respect from your peers with your limited knowledge of finance and modeling at this point in your career. Best of luck, and congrats on having options in this tough market!
Doing ant of the second(especially if MS or GS) will pretty much guarantee you interviews with all of the sophomore programs. In terms of "prestige" it's pretty much on par with IBD. Dont even consider the PWM over the REPIA. Anyone who tells u PWM will better position you is a bloody idiot
Yeah... agreed. If I saw a resume with a guy who had MSRE as a freshman... Jesus. And for the record, I think it's a horrible idea to take a HK/London offer solely because you think it'll be better for your career (unless you want to work there eventually).
did u get offer for both? quite impressive to get an REPE internship as a freshman
The second option is NOT part of the private equity arm. It is still principal investment; more specifically, it is "special situations group." Sorry for the confusion
definitely option 2...... this is a no brainer i think really unless you 1) hate to go overseas or 2) you really dont like the bank/people....... and even then i still think option 2 is a no brainer
um....is this GS SSG? I know they SSG does its own PE investment separate from PIA. SSG is even more selective than IBD..................
No, not GS SSG. Its a BB SSG though.
On that note, can anyone give me some more information about the special situations group of a firm? What kind of work do they do? What about real estate SSG?
Thanks everyone!
if its MS Special Situations "Fund" then basically they make minority investments in public/private RE companies
You would have to be incredibly dull witted not to take option 2.
Is a BB SSG generally considered to be a good place to start?
Thanks for all the feedback.
Buddy, you just went from innocent advice seeker to retard.
What you want us to answer? You have PWM option (which is not a way to go) and you have investment-related option, both from reputable institutions. Use your brain, answer is obvious.
And with regards to BB SSG vs BB IBD... depends on what you want in the longer run. Either is a good way to follow.
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