MM/ Boutique Summer Internship
I am curious as to whether ir is possible to get a MM/ Regional Boutique internship as someone who hasn't taken finance classes yet? Would it even be beneficial for me a freshman or is that what I should shoot for as a sophomore?
If somehow I did get it what would I be expected to? Are MMs just BBs but smaller, excuse my naivety but I would like ot learn more about this. I have heard PWM is really not that impressive so maybe doing credit risk, fixed income, or equity research at a MM would look better.
Any advice
doubt your going to get those types of internships as a frosh who has no exp or not taken classes in finance. I'd go with PWM
pwm won't have you doing much meaningful work but having the experience does help your resume. whatever you get for freshman summer, it will most likely be unpaid
While I have not taken any fiance courses thus far I do have some knowledge about the Equity markets and Fixed income markets. I also run my own portfolio so I am not uknowledgeable in this sense. I understand these will be hard to get, but other than PWM are there any options?
Aim for PWM your fresh/soph year. And you gotta understand that having "some knowledge about the Equity markets and Fixed income markets" doesn't mean much in terms of getting internships, especially as a fresh/soph. It's all about who wants to interview you.
Yeah I understand that. Dont get me wrong, while I have minimal knowledge about Fiancne becuase I have yet to take classes, I have some about those types of markets. I know how to evaluate stocks and look at the differenct markets. I by no means am an expert, but I would not look clueless in an interview thats all I am saying. I guess PWM is the way to go, but theres no harm in shooting out a few emails. I guess the only way to get this is to get lucky then?
I promise I'm not trying to playa hate, but the fact that you think that's relevant knowledge to an investment banking interview shows how clueless you really would be.
But worry not, you're a freshman! You've still got time!
To the extent that you can, yes, getting an actual IB internship this summer would be excellent (and yes, it's possible). To the extent that you can not, just get something that shows an interest in Finance and potentially puts a big name/network on your resume. As far as skills go, ER is really the next best thing to Banking if you're trying to do IB in later summers, but honestly, ER can be just as difficult to get at that level. After that, just get a BB PWM gig if possible so that you can list GS, UBS, MS, BAML, or whoever on your resume.
and above all.... KEEP YOUR GPA UP.
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