Virtual Internship tasks?
Can anyone share some expectations for the kind of tasks virtual interns might receive in a virtual internship? I've seen that working on live deals in a shortened internship is unlikely, but if anyone could share some "mock tasks" that I could expect to see, it would be a lot of help for my preparation. I'm having a hard time thinking of things to work on besides just pulling information/spreading comps. Could be a naive question but any response is helpful. Thanks!
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Might just be becuase I am at a smaller bank, but my internship started lasted week (virtual), and I already got staffed on a buyside engagement. We had an abridged training course, and then have been thrown in to the full program. I am currently working on analyzing potential targets/ companies management requested we conduct due diligence on. I've also been told that depending how this goes, I might also get staffed on a live sell-side deal depending upon needs of the analyst on that team. Also based on what has been sent to me it looks like they are going to have interns build a full pitchbook and present to MD/Partners in addition to research/PowerPoint (and maybe minimal Excel) that we are doing for deals.
Were you provided a laptop by your bank or are you using a personal device? Just wondering if that impacts whether or not we'll be working on live deals/actual work vs group projects and case studies because of security concerns.
baml not getting laptops
Yeah my bank mailed me a laptop, keyboard, mouse, and partially subsidized the purchase of a monitor. The laptop had all the company apps downloaded and "quick access" to the company VPN so I could easily access files. I'd imagine the VPN could probably be setup on a personal device, but that definitly could impact your abilty to do actual work.
Thanks for the response. My question was mainly geared towards those with shortened internships (I'm seeing a lot of 4-5 week programs instead of 10). Do you think the things you're doing now could be going on if your internship was shortened?
I think it's possible, but I don't know how likely it is. I think it will probably vary a lot on a group by group basis. My program is generalist, so I could be staffed wherever there is deal flow, but I think at larger banks where the interns are segmented into coverage groups, it'll really depend on the deal flow for the group. I do think they probably will try and have you do something, but I have no idea if it'll be more busy work or basic but necessary tasks.
How do you learn to do those things?
At a BB this summer and they said we'll probably not be staffed on live deals but will be able to still work on real work that the group assigns. A lot of the projects will be related to public information such as benchmarking and spreading comps can be staffed since you can find info on SEC website, Bloomberg, etc
Yeah, I'm going to make my interns do profiles and putting simple books together...basically whenever I don't want to work and it's something simple...I'll maket hem do it...not a dick move. Everyone does it....you all will do interesting work but you have to do some borig stuff first like first years had to do lol
I ask my firm for work to do and they say they don't have any. My firm has no work but I am efficient enough to tget it all done so I can devote more time to enriching people's lives in this community.
Please throw your shade elsewhere.
Profiles, AVPs and WACCs from comps seem like the most likely things for you to work on. Even if there are no live deals, you will be doing pitches and there will be combination analyses there so it will be useful to practice that.
thanks! but what are AVPs
Analysis at Various Prices. Basically given certain transaction prices, what will certain metrics look like. These can be EBITDA multiples with and without synergies, equity checks, leverage, IRRs, etc. depending on what the team wants to show
How much time would you expect for your virtual SA's to spread the comps for one company?
Are people getting laptops from their banks? I don't think I am which is making me wonder if I'll have more of a training than working on live deals with confidential information.
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