Ok, so I'm a rising junior student from a non-target school who plays football and has a pretty good GPA. I currently have 2 offers for the summer and I need some help deciding which one will help me land the IB SA internship I want next summer.
The first one is a PWM internship with UBS. I would be doing some basic office administrator work but would also be analyzing client portfolios, potential investments/current investments, and other things of the sort. I've already sort of committed to this one so although it's possible for me to break it, It probably would be frowned upon.
The second possible internship is with a middle-market retail brokerage in NYC that doe have a IB department. I would primarily be assisting the upper level partners with basically any task they need me to do. As with the PWM internship, this includes "bitch work" as well as having the potential to actually learn some things.
So basically, If next summer (summer after my junior year) im trying to land a major IB internship (yes, I know its a long shot)....which would be the best way to spend my summer this year?
Thanks for the help, I've been looking around this site a lot and it seems just about everyone here is very knowledgeable. I've indirectly received a lot of advice/tips from here.
oh by the way, neither internship is paid...sucks
I think PWM is a pretty standard internship before an IB internship, and that's the offer you have from a BB. Seems like an easy choice, no need to reneg, go with UBS.
BB>MM PWM>brokerage
Is it a D1 school? I think if you have a PWM internship and play D1, you just need to move your GPA from pretty good to solid and you'll have a decent shot, actually. See if you can get it above 3.7, at least above 3.5.
I'm in your same position (Rising Junior at a Non Target). I'd go with the NYC one. PWM is gonna be bitch work (I did it last summer), and so might the other one, but it seems more flexible and at least you'd have the chance to work with senior guys and be in NYC. Then again, living in the city for no pay could be rough. PM me if you have any questions about what you'd be doing in PWM.
I guess I probably should have clarified this on my first post, but it is likely that I could receive the UBS offer again sometime during the school year. They offer PWM all year round in the office located near my school. The only problem is, it would probably be very hard to accomplish this with football making my life hectic during the school year
and yes RiskyBizness it's a D1-AA school
Am I missing something here? I know its hard to choose and I don't want to waste anyones time here but since I have relatively no experience in the industry I was hoping some people with a little more insight could weigh in and give me their opinion. Since I'm coming from a relative non-target and its going to be an uphill battle, I just want to make the best decisions possible and take advantage of all situations presented to me
Take UBS. If you perform well and get good reviews, you can leverage that by asking your line managers or HR to put you in touch with the IB division. Networking will be easier since you'll have a foot in the door and you'll have internal people vouching for you. And you get the brand name on your resume.
If you take the second one you'll be gaining a useful experience but you'll have to go through the whole application process again.
To sum it up, at the first internship you'll learn less but it's more useful; second internship you'll learn more but it's comparatively less useful for getting a IB offer.
And I'd advise against doing an internship during the semester if you're on the football team. You'll probably end up being unable to focus or do well in either.
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