Thought on small boutiques?
Hey everyone,
I managed to secure a winter IB analyst position at a boutique in NC and wanted to get some advice. Most posts on the website pertain to very well established and global banks, but when it comes to much smaller offices what would you recommend to do? It's about a month long, from what I've read the deal flow is good and I'll be working on whatever the FT analysts are working on. Also, I got in the Tuck Business Bridge program but I figured the internship would be more useful.
Thanks
What are you looking for - advice? It's a month long and will likely be good experience.
What are the do's and don'ts I should get a grasp of quickly, it's my first IB internship
Most important thing is have a good attitude. It's only a month, so be in there when the other analysts are, and stay until they leave if you're not in class during that month.
Soak as much up as you can and try to learn a shit ton, that’s all you can do. Also try to get on good terms with the senior bankers who can hook you up with some of their buddies moving forward if you’re looking for a bigger bank.
How do you get a hold of concepts quickly when it's your first IB internship so you can actually do work independently and not be a constant pain?
Read the Rosenbaum and Pearl book cover to cover and go through all the asimplemodel.com modules and you should have a good base
Given that it's only a month you'll probably be doing more shadowing than actual work, but any experience is good experience, and it adds something to your resume.
Above all be friendly, get a good rapport going with the FT analysts. You may have a lot of free time, see if there's a folder of old deals or get someone to send you one - click through the models and powerpoint. If you can get some sort of intern project or contribute (even if it's just assisting with pitch materials, or updating research), that'll add some numbers and meat to your resume.
I asked a FT analyst, and there will be 3 interns. Apparently, we'll be doing actual work just like the FT guys but just less accountability. What I'm worried about is fucking up early on and them just ditching me.
I work in a boutique PE shop coming from no IB experience (I went MBA to PE route). I understand where youre coming from, for me I literately asked any question I could remotely think of and volunteered for everything. In my opinion the best way to learn is to experience it. I worked with everyone ranging from the managing partner to interns but every step I learned and asked as many questions as possible. Don't be afraid to mess up they almost expect it and more importantly than anything take a TON of notes. If you ask a hundred questions and then go back to your desk and dont remember anything people are gonna get pissed. So take notes! Also if you think its a silly question google it, Investopedia has become a great friend of mine. Best of luck!
I'd be more worried that it's only a month long. Hard to get your beak wet when you're junior + small firm (niche deal exposure) + lower deal flow overall + the window it takes to complete transactions > 1 month.
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