Freshman Internship Options
Hello,
Would love to get your thoughts on potential internships for my freshman summer, as I want to go to NYC or CHI jr summer and FT. Little background I go to a semi target in the New England area majoring in finance and econ.
Option 1. Continue at the search fund I have now decent deal flow and do a decent amount of work for it not really on modeling side though, may be more applicable to IB than the other options.
Option 2. REPE at a firm in Boston that has approx 2BN aum, there I would be helping look at potential acquisitions are raising money, much bigger firm that search fund and high quality experience where I would get to model, but do not want to go into REIB or REPE LT.
Option 3. Do a very small remote IB internship don't know how much work and experience I would actually get from this, and don't know if it would be worth it.
Option 4. Continue searching for a In person IB internship, have had great calls but not leading to jobs, and want to lock something down since we are almost mid March now.
All advice would be much appreciated.
Bump
Based on the most helpful WSO content, here’s how your options stack up for your freshman summer internship, considering your goal of landing a junior summer internship and full-time role in NYC or Chicago:
Option 2: REPE at a Boston firm (~$2BN AUM)
This is the strongest option in terms of quality experience. Even though you don’t want to pursue REIB or REPE long-term, the modeling exposure and deal experience will be highly transferable to IB recruiting. Larger firms with structured processes and meaningful work tend to stand out on resumes, especially for sophomore and junior recruiting. This could also help you differentiate yourself from peers with less technical experience.
Option 1: Continue at the search fund
While this provides decent deal flow and some exposure to finance, the lack of modeling experience may limit its impact on your resume for IB recruiting. However, if you’ve built strong relationships at the search fund and can leverage them for networking or recommendations, it could still be a solid choice.
Option 4: Continue searching for an in-person IB internship
If you can secure an in-person IB internship soon, this would likely be the best option for your long-term goals. However, given the timing (mid-March), it’s risky to keep searching without a backup plan. If you pursue this route, set a hard deadline for yourself to lock something down.
Option 3: Small remote IB internship
This is the weakest option. Remote internships often lack the structure and hands-on experience that recruiters value. If the work is minimal or unstructured, it may not add much to your resume or skill set.
Recommendation:
If you can secure the REPE internship (Option 2), take it. The modeling and acquisition experience will be highly valuable for IB recruiting, even if it’s not directly aligned with your long-term goals. If that’s not feasible, stick with the search fund (Option 1) while continuing to network aggressively for sophomore and junior opportunities. Avoid the small remote IB internship unless it’s your only option.
Sources: Not sure what to do this summer, Q&A - Senior Associate Ex-Megafund (REPE), Freshmen: What to do during your freshman year summer, Non-Target Recruiting Guide Part I: Resume and Networking, What internship will help set a junior year internship in Real Estate investments/REPE better: Fortune 50 or boutique IB?
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