Sketchy Firms

Based on the most helpful WSO content, here are some insights into sketchy firms and those to avoid:

1. Alpha Capital Holdings/Corporation: This firm has been flagged as highly questionable. They reportedly require payment for internships, which is a major red flag. Additionally, they recruit through unconventional platforms like Craigslist and target students from reputable schools. Their website is outdated and unprofessional, further raising concerns.

2. Bastien Capital: Although labeled as a consulting firm, there seems to be little evidence of legitimate consulting services. Their online presence is sparse, with a focus on internship recruiting rather than actual business operations. Many students have reported negative experiences or dropped out after initial interactions.

3. Cantor Fitzgerald: While not necessarily "sketchy," this firm has been criticized for its toxic culture, poor hours, and lack of meaningful deal flow. Analysts have reported working on small co-manager deals with minimal fee potential, coupled with challenging management and poor exit opportunities.

4. General Advice: Be cautious of firms that:

   • Require payment for internships.
   • Have unprofessional or outdated websites.
   • Lack a clear track record of deals or consulting services.
   • Use unconventional recruiting methods (e.g., Craigslist).

If you're building a blacklist, these firms are worth including based on the feedback from WSO threads. Always vet opportunities thoroughly and seek advice from trusted professionals or alumni before committing to any internship.

Sources: College Freshmen and Sophomores Beware - Avoid these internships, Your thoughts on William Blair & Company?, If smaller banks say they offer juniors more deal exposure, why are bulge bracket positions still more highly regarded?, Which groups should you avoid at all costs?, Firms to avoid