Should I take HF Internship?
The Coronavirus has put me in a bit of a situation regarding internships. I’m a second year at a non-target who is attempting to break into IB. Currently I am interning at a boutique IB remotely that I started in January, and did a VC internship freshman year. I know it’s critical to get a sophomore summer internship, but the four firms I was speaking with have gone completely silent. I’m starting to think it may not be possible to secure an summer internship in banking. Fortunately, a teammate of mines father is the founder of a small ( 8-10 person >$1B) hedge fund fund. Both myself and my parents know them pretty decently so there’s a near 100% chance he would give me something to do. Second option is I continue through working at the boutique bank I’m currently working at. What option do you think is best on resume of 2021 IB recruiting?
bump
Need more info - does your IB firm close deals? Size of deals? Would you still be working remotely for the summer (obv dependant on Covid, but if it gets sorted by then would you go to the office, if not it would look odd and would advise you to go to the HF)?
The bank I'm at currently has two deals (~$ 10 million revenue) going through office, one of which I'm working on. Pretty sure it's going to be remote the whole time. I'm just concerned that the HF on my resume is going to make me look like I've been jumping around to much
It’s all about creating a story. You can make it sound like you’re jumping too kuch but you could also make it sound like you wanted to dive into a sector (if that’s not the case at your boutique) or the opposite by broadening your coverage. You could also say that whilst at your boutique you had great process exposure, it lacked valuation exposure (especially the case if LMM deals which is your case I am guessing). Unless you are super happy at your IB and you are grtting exposure to multi industries, to both process and valuations I would actually do both and say that you were curious to see different stuff, environments etc. It’s all about creating a story that makes sense. You’re at school no one assumes that you’ll end up working at your IB boutique, it’s normal to jump around and try things in college!
Sounds like you're in a good spot...
Don't take your parent's relationship with the HF an easy 'in' for a position - even if it is. You need to act hungry for it outside of any personal relationship they have with them.
Deliver. If you do go with the HF spot you'll need to deliver hard. Go above and beyond during the duration of whatever role they carve out for you. You'll want to create meaningful business relationships and bring value. Do this and #3 will be easy.
Stay in touch with the firm after your position ends and express interest within the industry. If you've proven you can deliver and have 'what it takes' to succeed in finance that relationship will open many, many doors for you in the finance world.
Appreciate the detail. However, given the opportunity would you take the HF spot or the IB one? My concern with the HF is that its a little out of my element since networking and studies have been geared toward banking.
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