Sophomore - Boutique IBD Summer Analyst or MM IBD Summer Intern
I have two offers for this summer, an unpaid internship with a boutique firm in my hometown and an hourly paid position ($10-12/hr) at a respected MM firm (think Harris Williams, William Blair, Houlihan Lokey) in a regional office. I need help deciding between the two. Ultimately my goal is NYC IBD. I feel like I will get a better experience at the boutique as I will be working alongside the firm's two founders (one of which is former JPM) and I will have two mentors to really show me what investment banking is all about. However, if I work at the MM, I will be working under two analysts in the M&A division, essentially doing their bitch work for the summer. I will also need to find housing for the summer near the regional office. Is the better brand name of the MM worth more than the experience I will get at the boutique? Thanks.
In general, I (and I think most people) would say to go with the MM bank if you're trying to make it into the big banks in New York next summer. As a sophomore, if you're picking between IB offers, you should go for the one that can brand you best, as that's what's gonna get you interviews next year.
A few considerations: -What's the cost-of-living in the city other than your hometown? -How well known is the boutique? -At which are you more likely to be around for deal-closings?
All that aside, congrats man. Two offers as a sophomore means you have your shit together, you should be in great shape for next summer.
-Cost of living is somewhat expensive, considering my salary I think I'll be at about net $0 for the summer. -The boutique was started in the past year, so its not very well known, but it was a finalist for dealmaker of the year by Crain's -Not sure for deal-closings
Also forgot to mention that although the boutique internship is unpaid I'll probably get paid a bonus (around $1k-5k)
New poster here, but hopefully I can lend some decent insight as I was where you are just a year ago and have been reading WSO for quite a while now...
I think either option is great as having actual banking experience (as opposed to miscellaneous finance experience) as a sophomore gives you a leg up over most people. I'd also caution that it's likely going to be a lot of bitch work at the boutique as well. Can't go wrong either way. Despite the regional MM being paid (not that pay is the most improtant thing of course), I doubt it's worth it if it's a location you have no interest in down the road and if you don't have any connection (ie family, friends, or school) there...
Out of curiosity, can HW really be lumped together with Blair and HL??
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