No-name Boutique IB vs Well-Respected HF
For my sophomore summer internship, I'm wondering which one holds more weight for IB summer analyst recruiting. Would it be better to work at a regional investment bank that might not be very well-known or would it be better to work at a moderately well-known Hedge Fund (also uncertain how to spin a HF internship into an answer for "Why IB?"). Thanks!
Not exactly sure. I’ve seen people do both routes and get solid IB summer analyst positions. If there is one you think you may learn more from and/or enjoy more I would say go for that. Who knows, maybe after the summer internship you may decide you want to pivot to a new career path entirely. If you are learning/growing then it is fair to say your opinions and goals may change too. Good luck
in regards to spinning from why HF to IB, I faced a fair bit of that as I did like a buyside/PE/FO gig my sophomore summer. I did face that question of like why IB so I told them why I wanted to do IB. The training is one thing. In IB you may get more looks and more work to start off than at a HF right out of school. Broader career options potentially too. Social aspects can be part of it. There are reasons to do IB. Some people may even prefer a career in IB over the buyside if they like being the adviser/broker more than the investor/manager. Every person to their own
The answer should be obvious. If this is a legit fund that has a structured sophomore program, like starboard value or matrix, then take it in a heart beat. If this is a “robinhood hedge fund” started by your pothead brother jimmy in your moms basement then take the boutique ib offer.
I found another 5%er in the business.
If you don’t know how to spin an answer but got internships I’m pretty surprised
I would strongly recommend doing the HF internship, even if it would be worse to landing BB IB (which it probably won’t be). Most bankers don’t get buyside XP before starting in IB, and getting some buyside exposure will help you decide what you want after IB.
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