question about quality of internship
SO,
I didn't break into an IB analyst position, and my end goal is to do PE. NOT aiming for Goldman, etc. MM is fine.
was wondering what you guys think the quality of this internship will be, coming from a non-target top 30 state.
The PE/VC Clinic is a Spring semester, advanced finance course for senior finance majors. The course provides selected students with the opportunity to serve as Analysts at an actual Private Equity Fund with over $50M under management, under the supervision of Professional Fund managers. As part of this course, students will gain experience in:
Generating Deal Flow;
Reviewing Business Plans;
Conducting Market and Competitive Research;
Visiting Businesses and Interviewing Entrepreneurs;
Writing Deal Screens;
Performing Due Diligence; and
Creating Financial Projections and Valuations.
And how I could use this to land a FT IB position. I don't know what the chances of FT employment are at this particular PE firm. I landed a F500 Finance position.
Assuming that this is a course/semester internship and not an actual paid internship, it definitely changes things a bit, but not by much. Paid internships usually yield a bit more "real" work, if for no other reason than the obvious, they are paying you. That said, I think the opportunity as a whole sounds pretty strong, especially since you haven't been able to land an IB position.
When it comes to IB, a P/E internship is well respected, especially if it involves some quality work experience. We're not talking about a billion dollar fund here by any means, but it could turn into a solid opportunity. The problem with P/E internships becomes the question of since you got a P/E internship, why go backwards to IB. Considering this is more of a course/semester internship and not a standard summer internship, I think you should be alright on this front - I would also make sure to sell my interest in IB when you are interviewed (but that's getting ahead of myself).
Considering you haven't landed an IB internship, I don't see any reason to pass on this opportunity (if you have it, I don't think you've applied yet). If I were you, I would apply to this opportunity (I'm assuming you have to be accepted into it - if not, it might not be nearly as beneficial as I am hoping), and if you get it, go for it. If not, no harm done. If you happen to land it, then really work to make the most of it - volunteer for assignments, show an interest, etc - try to build some solid experience and then use that experience to move towards IB. Good luck - if nothing else, you've got a F500 internship (right? Not sure if I read that correctly).
A PE fund with over 50mm under management? What are they investing in? Laundromats?
Yeah, I have a f500 FT position paying me a good amount, 65K for the DC area.
50MM, yeah, they started in 2003 or 2004 and are growing. I've already been accepted to the position for the spring.
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