Leaving 6 month M&A internship (unpaid)
I posted this in job search advice but,
I've been intern at boutique for the past 6 months or so. This internship has been great and I learned so much about investment banking, but financially its been challenging. I had a summer internship (back office) and all that money is mostly gone. I'm mostly supporting myself on a night shift job.
Few things of the firm:
- Not a good history of hiring FT
- The FT analyst was paid under market and a portion of that base salary was "bonus" based, no bonus on top of the base salary.
I've been applying to several paid and unpaid places closer to home. Other investment banks haven't been as responsive, although there are a few leads already. The most likely positions are in a paid accounting role or corporate finance/ treasury internship in f1000,f500 companies.
Say I end up at an f500 accounting/FLDP program after leaving my M&A internship. Would this transition look poorly on my resume if my goal out of undergrad is IBD/Corp Dev?
(I.e why M&A->Accounting/FP&A?)
I'm also concerned about the Finance industry being so small the MD might "influence" my applications.
I'm feeling lost at the moment, so any advice is much appreciated.
Just say be frank and honest and say that you had to have a paid internship to hep you support yourself. Whatever industry you end up working, the bosses always end up respecting people who are honest, even though it may not seem that way to you at first. And no, it will not look poorly on your resume since pretty much all of the finance industry is based of accounting. As for the finance industry, is is not small. There is always another bank/firm that you can apply to. The MD/boss in any firm will have some pull, but it will be like that anywhere you work, whether the finance industry or not. It all comes down to presenting yourself well in interviews. Hope that helps and good luck!
Any MD who's been working you without paying you for the last 6 months and then tries to tank your applications is literally Satan. Finance is cut-throat, but I doubt he's pure evil or that your work product is important enough to him to screw you over just so he can keep you. As long as you've made an effort while you've been there, you should have no qualms about requesting and expecting a good reference. It's literally your only compensation and not too much to ask. Don't stress about that.
I'm not clear on if you're applying for another internship or for FT. If the former, I don't think the "transition" will matter that much. Just explain that you wanted to intern in something different to see if you liked it, and you found you preferred IB. If your next stop is FT then moving back into IB may require a bigger leap, but I'm sure it can be done.
That could not be more true. good advice here
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