Is there an IBD division there? I made a contact with the firm and want to know whether or not interning there would be worth it. Any info/advice is appreciated.
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no IBD - this info is easily found just by doing some digging on their website
fidelity is a mutual fund, not an investment bank. they're buyside.
So as a current sophomore, would an internship there be beneficial?
Fidelity is certainly not a bad place to work as a sophomore. It is a nice brand name to have on your resume (lets face it, who in the finance world doesn't know who fidelity is). Also, the culture is extremely laid back and I believe you'll pull in $15/hr as an intern, which isn't bad for sophomore summer compared to many of the other places out there.
Just a warning though: Unless you want to be working in the back office, you need to be in Fidelity Management and Research (FMR Co.), which is the division that actually manages the funds. Of course, back office isn't so bad either.
A kid from my school chose FMR Co. over some top shops (think GS, MS, and MBB) - the opportunities are great, but it's hard to get into.
^thanks for the very useful info compbanker and aguy. Choosing FMR Co. over top shops? I think I may need to try and get this internship after all!
If you can get into FMR Co. (the fund management arm of the business), you're on a pretty solid track towards running money. Unlimited resources, infinite access to sell-side research, exposure to management teams from companies, and you're learning under some of the top PMs in the world.
Still, keep in mind this is a long-only shop. Pretty plain vanilla investing styles.
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