Well, BB ibd recruiting pretty much curb stomped me, so I'm curious as to how to best position myself so I have the option to try again for FT recruiting next year.
I'm essentially considering between SA internships. Would you recommend going with a brand name (MBB consulting) gig, taking a MM ibd offer, or something more unusual like growth equity at a VC? I dunno if it makes a difference, but I have past corp. fin. experience and ibd experience at a boutique.
Anyways, thanks a lot for any advice you guys/gals can offer. This recruiting season has been eye-opening as to how much networking and prep. work I need to do in order to make myself more competitive...
Do you have any of these offers yet? If not, I'd recommend to apply everywhere and ask that question as soon as you have some.
But generally: MM IBD > VC (depends on the firm though) > Consulting
I spoke to a recruiter this week. Brand name >>> anything else Recruiters are lazy and if you have a brand name on your résumé they automatically assume you have gone through a tough recruitment process and landed an offer vs a no-name firm (which we actually arguably more competitive) As for something interesting ... Are you not interesting already? :)
If you want to do banking, go with the MM internship so long as its a well known and reputable shop.
You can't really go wrong with MBB given the pedigree factor and since it seems you're only a Soph (right?). But first off banking will lend a more relevant skillset and will help you get an ede to your peers s your next internship and second you'll have to address the is this guy going for banking or consulting hurdle if you do an MBB internship. That being said, you could do ALOT worse than MBB. If its a lesser known bank like BMO or SocGen or something... I'd prob say go for MBB.
To the guy advising OP not to ask the question until he has offers from all of the above, eat a dick, he's trying to triangulate where he should be focusing his efforts which is exactly what he should be doing.
Also OP I'd be very focused on figuring out why you stuck out with banking recruiting. That would be a major concern for me if I were in your shoes.
Just went through recruiting... I would have gotten offers everywhere if I had a mbb on my résumé. I interned this summer at a mm ibd and then after that interned at a mm in sales and trading for the month of August. I took the résumé straight to campus recruiters at barcap, bofa, gs, db, and could not even get interviews. Campus recruiters do not know anything and if they are going to screen people, odds are they would take a kid who has a ubs wealth management internship in garden city Long Island vs a kid who interned at a place like blair , Lincoln, or Baird. Lol it's retarded and happened to me dude... Mbb all the way. Got an offer at a bb tho...
False. If you interned in banking before and have a decent background/GPA, there's no reason you shouldn't be getting interviews... except, keep in mind, the intern pool is used for FT hiring and no one wants to hire an intern that isn't graduating for 2.5 years.
Regardless, I would have thought you'd atleast get a stray interview from someone that didn't notice your graduation year in your rez.
Hopefully you're just be facetious about the PWM at ML vs Baird IBD internship... because that is not true either.
I had a non-IBD internship at a BB, and still got IBD interviews from MMs and boutiques simply because of the name. BB IBD recruitment will be heavily focused on both name and experience since the pool is so large, and there are plenty of people with decent names on their resume and relevant experience.
Okay... so you are essentially telling me that I did not get rejected by the BB's for first rounds, when I told you that I did... I had an IBD internship at a MM (think Blair, Baird, Lincoln) and then another S&T internship at a MM for the month of August. Prior to that , I worked in IB the summer before at a boutique and S&T at a boutique. I have a 3.5 at a non-target in NYC. When I networked with the BB's, I rarely got an interview as the referral would go straight to campus recruiting, who would then "continue to review my application".
I had my first BB IBD interview, locked an offer, and was done from there. If it wasn't for that, I would have been dicked out. For non targets that is how the process works. The recruiters screen your resume post-referral and if they see names that they can recognize, they certainly will put you through to the first-round process. Having a MBB would do that for them.
These campus recruiters do not know much in terms of industry, products, and just the investment banking business. A campus recruiter from CS prolly would not know about Baird, Piper, Blair, etc. but they would know the MBB's or even a UBS PWM internship. I had a campus recruiter from CS who ran virtual recruiting who did not even know what the S&T desks did. All she could talk about was the "culture" and how "fast paced" S&T is.
Non target here btw no campus presence from aforementioned shops
ITT, a nontarget in NY with a MM banking internship got a BB IBD offer....and thinks that's proof that a MM banking internship isn't good
Newsflash (nontarget ---> BB IBD myself) - one BB offer is REALLY GOOD. You succeeded, probably largely BECAUSE of your MM summer experience, not in spite of it. Congrats!
MBB. As someone who has screened multiple rounds of resumes, BCG consulting > William Blair or Wells Fargo M&A if it's for a sophomore internship.
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