Unpaid sophomore summer IBD internship at small banks
What do people think of opportunities like this? Is it normal / would you typically be given legit tasks?
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I did a sophomore ib internship. The tasks were ~30% BD/sourcing/locating emails for corp dev at various tech companies, 50% PIBs/sell side books, and 20% modeling. We'd have a Friday "lesson" where a VP would lead a short lecture on a topic we wanted to learn more about (IPO timeline, building a DCF, how to do a paper LBO, etc.).
I did an unpaid LMM IB internship during my junior year before my summer internship so kind of similar. I didn’t learn that much that was very applicable. All the valuation I did was mostly punching numbers into templates and a did a bunch of dumb biz dev work. Basically I fucked around and was shitty intern but it gave me a lot of soft skills that helped a lot in my internship (or made me realize I needed to work on them before my internship): communication with deal team, attention to detail, organization, etc
My first reaction was wow, what a shit intern, but then I realized that was basically me lmao
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