Online Investment Banking Internship - Thoughts?
So I'm doing an online investment banking internship.
Here's the full description I got once I started doing it.
In general, this internship will last 3 months, will be fully online, and will simulate the experience of being an M&A professional.
Each Friday, you will have to submit an assignment or report your progress, depending on the instructions for that week.
In the first weeks, we will ease you into the M&A experience.
Once you have shown that you are settled, we will provide you tasks that range from:
examining case studies and closing hypothetical deals
researching actual companies for potential M&A opportunities
creating a thesis as to why these companies are candidates for a merger or an acquisition
actually contacting the companies you believe will show interest and offer your thesis
We believe this will be a very unique learning experience and look forward to seeing how you perform.
Best of luck!
It's a boutique investment bank sponsoring the internship. I am in contact with the banks info@emailaddress and each week they send me an assignment.
I just have a couple questions. Is it a known thing for some investment banks to do this? How credible will this look to a recruiter/interviewer? How can I put it on my resume without giving the wrong idea?
Looking forward to hearing your thoughts!
I would put Investment banking intern and never mention that it was all online...
I wouldn't put it in the "professional experience" part of your C.V. but rather somewhere in "Achievements" or other experiences. Frankly, I'm not sure it really compares with the real IBD experience, even though you build similar models...
with it being virtual, you definitely won't learn much
This is not a known thing that banks do. I think most recruiters will be skeptical about the experience if you described it on your resume the way you've described it to us.
Per Licked's comment, I would include it in the resume under employment history, but don't mention that it was completely online. If it's readily obvious that this internship could only be done remotely (i.e. the bank is in State A, and you live in State B 500 miles away), I would spin it and say you did have to telecommute for significant amounts of time, and explain why the arrangement was done (maybe you couldn't commit to the necessary 30 hours a week in the office, and so an arrangement was made so that you would remote in).
You can turn this into something very interesting. Most people don't remote into the office during their internship, and showing that you would be willing to do it even during an internship may reflect well on your sense of responsibility over your work.
I'm not sure writing a full-blown lie on his C.V. is the best way to go for the OP. But then I'm from Europe, maybe that's different in the US (no checks at all?)
This looks a bit... odd. How big is the boutique. From reading your description, it looks like the work is a mix of them just teaching you about the M&A process (doesn't really count) and you helping source deals for them.
Even though most guys here are pretty negative about the internship, I think it can be valuable to you if you spin it well. See if you can work with the boutique to get guidance on creating some quality pitch books for the companies you contact. That would be useful.
How is learning the M&A process not relevant and "doesn't really count"?
However, I agree with you that it all depends on how you spin this.
Op, if the question arises if it was online then be honest about it. If not, just speak about your experience and sell yourself based on the value add you brought to your boutique.
edit: is this alpha capital?
It doesn't count as in I wouldn't put it on a resume. It makes the internship look like a joke where you get homework assignments instead of adding value to the company, which is why I urged OP to focus on the client sourcing aspect of his internship and working on some good pitch books.
Are they paying you or are you paying them? This is a fugazi "internship"
What kind of assignments do they have you doing?
OP, when you're finished with this internship I know a bunch of cool prop trading shops that would be interested in you for next summer or even FT, as long as you have 5k saved.
Hi guys,
Thanks for the response. I don't pay them at all, the internship is a program they're doing with my school's career center. The bank is located in the same City as me so it's not anything remote.
I've only started it 3 weeks ago so initially the assignments are broad like learning m&a jargon and terms, then it starts narrowing it down into researching companies that would be good for a merger or acquisition, then explaining in further rational why, etc.
If it's located in the same city as your school - try reaching out to the bankers if you can possibly come in two-three days a week to the office. Never hurts to ask. Best of luck.
I've decided I'm going to stick with it because it could help at least partially differentiate me from other candidates for jobs. Any ideas on how I could put it on my resume?
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