Stick with M&A boutique or go to MM ER for internship?
Hello,
I'm doing a part-time internship at a regional boutique where I can pursue a summer analyst position. I also have the chance to do an ER internship at a solid MM (PJC/Jefferies/Cowen). I want to hopefully break into M&A advisory at a MM shop or a good boutique post-grad, but I am not opposed to ER. What course would you guys recommend I take?
Thank you
I'd take ER, especially when you consider the buyside exit opps. You can always recruit in the fall for IB.
The obvious answer is diversify. You already have the IB experience, so go for the brand name with ER.
Emphasizing how much better the ER internship is. You have boutique m&a. Time to get "branded." It won't solve all of your problems by any means (why back to M&A? will be common) but the name will get middle market banks attention.
Can we have the name of the boutique? Not many established ones (Lazard, Moelis) do part-time interns. When you say regional, you mean a boutique with one office, maybe 100 square meter, (in a serviced office - so no sign outside) and a few people in it? If that's the case, take the MM offer - you are moving up the league.
If an established boutique is letting you do a part-time internship during semesters and offering you a SA, that doesn't sound too bad. You can move to ER later (after 2 - 3 years - by that time, you are so bored with M&A that you want to get out). The training at an established boutique is as good (if not better) as those big names.
There was a girl who interned part-time at JPM for 2 years (when she was going to grad school). So you could be interning at one of the big ones.
Thanks guys. When I say boutique, I mean it in the sense of a very small firm with 1 office that hustles for around 8 deals a year. It's been a great experience, even just part-time. Like MJK pointed out though, I am certain I'll be asked why I did ER if my real interest is M&A. How would you guys recommend approaching that? I was thinking of saying that I went for the best opportunities presented to me at the best firm.
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