Ok, unfortunately I am an idiot and am still looking for an internship for this summer. Things are looking just a bit grim but I have a big spring break week planned, during which I have set up/am setting up some informational interviews with professionals at the firms I am looking at. The goal this summer is to find a gig at a boutique ER firm. I would also be fine interning with a boutique IB or a small HF.
I know it can be valuable to network at all levels of seniority in IB, but with the different hierarchy/hiring structure in ER is there any point in networking with freshly graduated associates. I have set up/am setting up several informational interviews with people in the industry in a large financial hub in the south and I wasn't sure if associates had any pull in terms of their teams taking on interns. Even if I connect with the teams associate, there is no formal internship program so its not like he can help me by just passing my name on to HR.
So the question is, focus on networking/getting informational interviews with the analysts only... who I assume are the ones who decide if their team takes on an intern, or spread my net as wide as possible and disregard position and go for associates?
So far most of my contacts are associates, as these have been the only alumni I have found. If the consensus answer is that associates have no pull in taking on interns, should I try to ask for a referral to his analyst somehow. How would that work?
One last (less important) question: if there are alumni with non-research roles (at small 5-15 man, tight-knit shops) should I ask them for referrals to their research guys, or just go straight for asking for informational interviews with the non-alum research guys directly?
Thanks for all responses, SB to anyone who helps... (especially with the "analyst or associate" question).
Wow that title was absurdly misleading..... it meant to read, "Still trying to find internship in ER, should I be networking with associates or focusing only on ANALYSTS?"
Sorry... that was a terrible title.
yo cy, its def helpful to have associates push your resume and vouch for you. the senior analyst is usually too busy to give a shit until you meet face to face. Once you meet face to face, know your shit, especially basics. I would walk into rooms and ask an MFIN kids to define EV and they would stumble. Don't be that guy. Also, be sure to read up on some good ER regarding companies the firm you interview with actually cover. When they say tell me a stock you would be long, pitch them the stock with specifics on why (multiples vs peers, good catalysts like xyz, restructuring has potential, rotation out/rotation in could be applicable based on quarterly vs peers etc.) On shorts also know why (operaitonally unsound, investor fatigue, sleepy no catalysts).
Also, alumns are great but don't just get caught up on alumns only. It won't hurt to try and hit up some analysts vs associates, just remember, sell side analysts like to hear that someone read their work and that their work is impressive (clearly outlines investment thesis, clearly shows expectations vs guidance, clearly understands market traction and investor sentiment). Try to actually read some of these guys' work, some boutiques put out daily notes that you may be able to get through contacts.
Good luck.
Also, depending on your school, there is usually someone at the b-school who feeds the shops his best students to consider for internship. Figure out who that professor/dean is and meet with him. Even if you don't get it this go around, would be worth building that relationship
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