Junior Year Internship 2013
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Not sure I agree with the PWM comment. I did PWM at MSSB and yes it isn't going to be what you're looking for if you're dead set on IB. But the name on my resume helped (along with networking which you're already doing) to land the IB internship. And I made some fantastic contacts since I worked with the biggest advisors in the office.
Side Note: Soph year there are lots of IB programs out there to introduce you to the industry. I wish I had been more of an overachiever when I was a soph and got into one of these programs as they're awesome segways into SA junior year.
I (personally) think this is a no-brainier - go to East Asia. A money-management or brokerage internship can certainly be very positive, but more importantly, if you're confident in what you want, take the job which best supports it.
If you're confident that you'd like to go into investment banking, and you believe that an equity research role will be more comparable to a banking one than a money-management one would be (I would argue that this is the case), then book the ticket. But get the offers in hand before you over-think it.
Edit: With respect to the different firms (i.e., JPMorgan versus Morgan Stanley), as a freshman, I believe that both will be highly recognizable and equally impressive (in their own right) to future resume readers. With respect to the opportunities (i.e., Equity Research versus Money-management), I believe that an Equity Research role is generally considered to be more competitive to acquire than a money-management one is.
Definitely ER. Good experience. (A lot better than wealth management) for what your aiming for. And working abroad looks attractive and a good conversation topic in a lot of conversations.
Thanks for the opinions everyone. It seems that the general opinion is ER.
The only reason why I'm reluctant about taking the ER position is because I got the opportunity through 1.) my fluency in English and Mandarin, and 2.) the person who hired me is a long-time friend of my parents. I'm a little weary that I don't actually have the necessary qualifications/training for the work, and that I wouldn't have gotten the job if it weren't for connections and bilingualism being a major factor.
The Wealth Management internship didn't seem to have a lot of prerequisites necessary (just demonstrated interest and a somewhat-decent GPA really), which is why I think I would be a little more comfortable with it.
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