Hey guys - looking for some advice about spring internship offers.
Quick background for some context:
- Target junior (economics major, mediocre GPA)
- I've interned with MM IB (Piper/Stifel/Jefferies - IBD), hedge fund (long-biased investing), and BB Ops
- Currently interning with tech startup in NYC
- Looking for BB IBD, MBB, or buyside summer internship this summer
Very interested in the technology sector, looking to (eventually) go into venture capital or private equity, preferably focused on tech.
So here are the two offers I'm debating:
- MM IB (HLHZ/D&P/EY TAS) in a valuation role. Focusing on fairness opinions, valuations, etc. for distressed credit or structured asset pools.
- Top-tier growth capital investor (GA/TCV/TA/Summit) in investment support role, doing admin stuff along with the occasional opportunity to support with due diligence, sourcing, etc. Team I'll be supporting will be focused on technology.
Both offers were obtained through OCR.
Any advice on which would help me more? Trying to overcome my GPA and (hopefully) be considered for top placement.
Thanks!
Don't mean to be rude, but you sound like you've gone backwards- MM IB to MM valuation/some kind of ops? Do you have to take one of these, or do you think you will have more options later on?
Not rude at all, perfectly valid question - these are for part-time spring internships, so they're just for extra income, but I want to make sure I make the right choice before I start summer recruiting in a few weeks.
You have really solid experience... enough to land you a BB SA this summer, but if I were in your shoes I'd be focused on preparing for recruiting next semester and getting your GPA up.
If you think you're ready, and your GPA won't be much of a factor at this point, and you just need cash-- Go with HLHZ.
What's your GPA like?
~3.5 - not terrible, but not great. I'm principally concerned with competing against kids at my school who have also interned before in IBD and have 3.8+ GPAs.
@BTbanker - thanks for the advice. I'm networking pretty actively and my courseload isn't tough, so I'm working on getting my GPA higher. I just hope it's enough.
Yeah fair point, in that scenario I'd also go with HLHZ
I'd say it depends what your priorities are. If BB SA, then MM IB valuation. If buyside, then the growth shop. For MBB, not my area of expertise so I'm not sure what they'd prefer to see.
A BB will want to see that you enjoyed your summer on the sell-side and wanted to do more IB work. A buyside shop will appreciate that you tried IB, but then realized that the buyside is where you ultimately see yourself, etc.
Can you explain how either is going to affect your summer recruiting? The timing doesn't work out does it - don't know the recruiting time table at Columbia too well but aren't resume drops soon?
Since the benefits are marginal, I wouldn't take either internship and I would focus on recruiting instead. "Admin stuff" and "sourcing" just sounds like a really shitty role - due diligence work would be a step above that in my mind. HLHZ FAS (in the ex Red Pine subset?)will probably provide you the most relevant (albeit niche) experience for banking/hfs, but even if the internship does come in time for recruiting, it will only be adding value at the margins since you've done MM IBD already.
HLHZ sounds like a good opportunity, but can you juggle the slew of interviews coming up + a PT internship + classes?
If so, take the first offer and good luck.
Congrats on the offers! I'd go for HLHZ FAS.
dude if you got GA or TCV and you're remotely interested in tech you would be completely stupid not to take it. ignore the poeple talking about sourcing being a shitty role (lol), 100% take that and don't look back for even a second, I don't know if VCs and growth equity firms recruit at your target but they do at some and you would definitely get interviews with all of them for summer or full-time with that on your resume
agreed - you already have banking experience, intern on the buy-side
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