Hey WSO just a quick question,
For my sophomore summer my cousin has said he can help secure a PE summer intern stint in a medium sized fund in London UK. I thought it would be a great experience to see the buyside and have an international experience.
However when I asked one of my upper-year mentors who is at RBC Toronto he said it won't be looked unfavourably during recruiting time because 1) people go into buyside after doing ibanking, 2) it might seem like the way I secured the internship isn't legitimate (since its through family) and that 3) London is going to hell and I should network and get something from a Big 5.
I know that this isn't in a hurry but I just thought what he said was weird. My ultimate aim is to get a BB SA and I thought any relevant experience would be good before junior recruiting? Thoughts?
Dude your mentor is spewing some bs in my opinion. For a sophomore a mid sized PE fund looks pretty good. Obviously boutique sa would be great, but PE is nothing to shake a stick at...
Also, international experience looks good in my opinion and can be an interesting talking point during interviews.
Thats what you get for taking advice from canadians ahahahahah
That is only his opinion. I think it looks great and much better than an accounting internship. London and PE = Great experience.
Don't made decisions base off of one data point, even if that data point is from a decent level guy.
You said it yourself. "it won't be looked unfavorably".
Also sounds like you should get a new "mentor".
Sounds like you need a new mentor. Out of any internships that a sophomore could typically land (PWM, accounting), PE is by far the closest thing to the investment banking skill set. Having that on your resume would make you much more competitive for a BB SA during your junior year.
Your mentor is wrong, purely wrong! Get yourself a mentor who isn't an idiot.
I have worked with most mid market PE firms in London and there are a lot of good shops here. Probably best not to mention the firm on the board but go for it. If you are concerned about the firm's rep, give me a PM and I'll provide you with some thoughts on quality.
I'm gonna go out on a limb here and say his "mentor" works in ops or audit.
Lol, what a shitty mentor. I would kill for a PE internship at this stage since I only got a TAS internship.. Take it and enjoy your time in London!
What is this ”big 5” the op mentioned?
The big 5 US banks. Some non Americans refer to them like that
You mean the Big 5 Canadian Banks.
What's wrong with the European BBs?
change your mentor - NOW. Before he starts recommending that you intern at law firms to get banking jobs because that will somehow be relevant.
Yeah I will do it for the job and international experience. Well I think my mentor just really favors Canadian banks over others and wants me to do the same, he turned down Credit Suisse London for RBC Toronto hmm....
That basically confirms everything.
when I started reading this thread I thought some of the responders were a bit harsh regarding your mentor, then I read this and can't help but think they should've ripped him a new orifice. Do yourself a favor and double check any "advice" you get from this guy (assuming you continue seeking it) and double check on WSO before making any relevant career decisions.
RBC Toronto over CS London... yeah, he clearly has his priorities straight.
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