Remote Search Fund Internship + In-Person Local Boutique IB Internship
At a non-target near NYC. I have an offer for an online, paid (if an acquisition is made) search fund internship that goes from January to June 30. However, I'd also like to intern at a local boutique IB this summer, so I've been sending out cold emails. In the event where I do get an offer to intern in-person at a boutique, I'm guessing that the internship would most likely start early June. Would it be feasible to do both the remote search fund internship and the in-person boutique IB internship at the same time during that one month period? Would I have to disclose that I'm working at both to my higher-ups?
Based on the most helpful WSO content, juggling two internships simultaneously, especially in overlapping industries, can be risky. Here’s what you need to consider:
Feasibility: While it might be logistically possible to manage both internships (remote and in-person), the workload from a boutique IB internship can be intense, leaving little time for another commitment. Search fund internships, even remote, can also demand significant attention, especially if you're involved in deal analysis or due diligence.
Disclosure: Transparency is crucial. If the two internships are in related industries, failing to disclose could backfire. Wall Street is a small world, and if your name comes up in conversations or email chains between the two firms, it could harm your reputation. As highlighted in previous WSO threads, the consequences of being found out can be career-damaging.
Risk Assessment: If the industries or market locations of the two internships are unrelated, the risk of overlap or conflict is lower. However, if they are related, you risk being perceived as not fully committed to either role, which could reflect poorly on you.
Recommendation: If you decide to proceed, carefully evaluate your ability to handle the workload and consider informing your supervisors about your dual commitments. This shows integrity and allows them to set realistic expectations. However, be prepared for the possibility that one or both firms may not approve.
Ultimately, weigh the potential benefits against the risks and your capacity to deliver quality work in both roles.
Sources: Two virtual internships this summer. Can I do both?, How to Obtain a Sophomore Summer Boutique IB Internship, Would a Virtual Summer Analyst Program be Possible?, FT: Wall Street banks explore option of ‘virtual internships’, How to Obtain a Sophomore Summer Boutique IB Internship
Know some people that did this. I’d recommend just sticking with the IB internship and leaving the search fund. Imo the search fund is kind of a waste of time if you get an IB one and most people I know only did search funds if they struck out everywhere else (plus the odds that a deal gets signed while you’re there are minimal, so it’s essentially unpaid and just sourcing/cold emailing). Wouldn’t say there’s harm in doing both, but I’d personally just do the IB one and use my free time to lightly brush up on technicals or enjoy the summer.
^ Referring to that one month in June. until then would keep the search fund up
Got it
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