What happens during IB internships in smaller countries?
I’ve seen students on LinkedIn do IB summer internships in smaller Eastern European countries, e.g. Latvia, Croatia, Czechia, etc.
What do they do there? I assume they don’t always have live deals or any significant projects to work on because of the small market size in those countries. Do employers even consider that as real IB experience?
Based on the most helpful WSO content, IB internships in smaller countries like Latvia, Croatia, or Czechia can vary significantly in terms of experience. While these markets may not have the same volume of live deals as larger financial hubs, interns often gain exposure to valuable skills and processes. Here's what typically happens:
Focus on Technical Skills: Interns may spend time working on financial modeling, valuation techniques (e.g., DCF, comps), and preparing pitch books. These technical skills are transferable and highly valued in larger markets.
Smaller Deals or Advisory Work: While the market size may limit the number of large-scale deals, interns might work on smaller M&A transactions, local market research, or advisory projects. These experiences still provide insight into the deal-making process.
Market-Specific Knowledge: Interns often gain a deep understanding of the local economy and industries, which can be a unique advantage when applying to roles in larger markets with a focus on emerging markets or specific regions.
Perception of Experience: Employers in larger markets like London or New York may view this experience as less competitive compared to internships at bulge bracket or elite boutique banks. However, demonstrating strong technical skills, a proactive attitude, and the ability to adapt to different environments can still make it a valuable addition to your resume.
If you're aiming to transition to a larger market, it's crucial to highlight the transferable skills and any tangible contributions you made during the internship. Additionally, networking and pursuing further internships in more prominent financial hubs can help bridge the gap.
Sources: Q&A: Vice President - European BB Investment Banking (Industrials), International Student - Chance of getting an IBD internship in London?, Small sophomore internships are still gold, Working Abroad - Regrets/Benefits
I’m not sure about Eastern Europe, but as someone who’s done an internship in an APAC Emerging Market, it’s mostly bs. Half the time you’re not actually doing “IB work” because it’s 90% relationship based (also depends on the dealmaking culture of that region) and you’ll end up doing dumb shit like edit a legal document. Others I’ve talked to who have also done internships in emerging markets say the same thing.
Mind sharing which country it is in APAC? Is the group cross-border focused or domestic only?
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