Small Local Boutique IB Internship - need advice
I just finished freshman year at a non-target in Canada and I was able to network and land an internship at a pretty small or at least very unknown local boutique firm where I am for the summer. But here's a few weird things, the official title is "investment banking internship" but it's fully remote, they do actually source decent deals but me and the other interns are just "raising capital" by emailing VC or PE firms to invest in the company we're given to represent. (to raise equity for)
There is apparently actual DCF and LBO modelling experience and I was told we'd be brought in to help on some IPO and advisory deals and maybe an M&A deal they're doing. But there's no official contract for this, it's just an NDA we sign, we get the title "investment banking intern" and it seems like you're free to, I guess, leave whenever.
Just curious if anyone has any opinions on this, all I care about is the title, being I just finished freshman year it looks good and doing actual modelling to learn. Is this worth it? It's essentially a search fund internship, but just with the title "investment banking internship" and with them helping us beef up our resumes with minimal help on the deals.
Any insight or advice would be really appreciated, firm seems cool, the no contract thing is a bit weird though.
what firm is it
Just to keep it private I won't disclose it, but super super unknown
i mean why wouldn't you take it? if you have nothing better, just take it. who knows, maybe it might actually be a good experience.
I'm also from non target in canada, did a similar thing after my first yr although it was at a super unknown pe firm (remotely worked) and turned out to be amazing experience i learned a lot. now im in a pretty good pe firm this summer and signed with big 5 in ib for next summer
Like what was mentioned above, don't see a problem here or cause for concern.
It's a case of zero downside and only upside, and no interviewer would be expecting a name-brand internship for a freshman summer anyways. Could be a great place with lower expectations and a higher chance of receiving more guidance at a smaller shop - you could get good references from them in the future / leverage on the management's network / start to build your own network amongst the other interns who would (ideally) eventually move on to bigger and better shops over the years. This applies globally too btw, not just in Canada.
No-brainer too if that's the only offer on the table, go for it and grind hard
Just take it and run with it. I would just be prepared to explain everything you did clearly in an interview setting as interviewers will get curious. Maybe rephrase it on your resume as "M&A Analyst" or something like that to make it seem less sus. But this should be good enough to land something decent at a legit firm for second year summer and then you should be in good shape for third year summer recruiting.
Congrats on Herculean
Oh mines not Herculean but sounds sort of like it, but I work fully remote, maybe 2-3 hours a day, but what ur saying definitely shares the same characteristics, could you tell me more about it? And also, I'm sure this is gonna sound like im coping, but is it not worth it for a freshman atleast to have that on their resume (genuine q)
what firm?
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