Summer Intern Project Expectations

I can't find any information online about this. Have an Investment Banking internship next summer and have heard that a summer project (M&A pitch of some sort) is to be expected. How complex is your pitch expected to be, and what do I need to do before the internship to do a good job on this project? 

9 Comments
 

During my previous internship, we had to do a pitch book of about 10 pages including company and industry overview, transaction rationale, valuations (transaction and company comps, DCF/DDM) and issues to consider + annexes of charts and valuations details

We presented that in front of staffers including ours for 10/15 minutes, group of 2 to 3 interns from the same team. Then individual Q&A session of 10 min each one after the other about the presentation.

The pitch has to be related to your team (I was in a coverage team so we took companies from our industry)

Hope it helps!

 

Made a 30 page deck and it was an individual half hour presentation in front of staffers and some random members of the team. Just treat it like a school project, look like you put in some effort, and you'll be fine. Not super important unless you're borderline or if you fuck it up majorly.

 

I am in Europe so might be different. Had an intern case but it was very clear that we should never prioritize our case over live deals. I was staffed on a quite large and hectic deal and 2 other deals with lower activity. As such, I did not have time to fully finish the case. Finished the equity story etc, but did not have time to finish valuation. Presented to associated and analysts. They were impressed and I received plenty of compliments for my work even if it wasn't finished. Received great reviews, no comments at all regarding the case. For us it was more supposed to be a fun thing that we could do if we had downtime. I would recommend to focus on equity story rather than valuation though. It is a very short presentation and no1 will have the time to go through your DCF/LBO in detail unless you end up with some crazy valuations. 

 

Don’t worry about your internship next summer. Just chill right now and review excel/ppt a few weeks before the internship. They’ll teach you everything you need to know.

 
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