Is capital markets a good last minute internship?
I'm looking to eventually break into VC and PE. I go to a non-target school with a decent GPA, but nothing really going for me. This is compounded by being late to the game.
I have an interview with a large non-bb bank for a capital markets internship. The boss of the person doing the interviews got me into their recruitment process and made exceptions for my application being late.
I've applied to Santander, Deutsche, and Goldman IB roles. I'm not super confident because although I have a good resume and cover letter, I don't stand out anywhere except LGBT status.
Assuming my only banking option for 2023 is CM should I take it? I also applied for consulting roles with some contacts. My other option is getting a corp fin role at a fortune 500 since my neighbor offered and he's in the C-suite. I also have a good personal connection with a partner at a big consulting firm.
What best preserves my path to PE and VC? I have to make the best of my situation now. Ideally, I'll get a full-time offer from a BB IB for 2024. What role internship is most respectable? Corp fin or CM?
It seems you're confused as to what all the terminology is.
Corporate Finance and Investment Banking are the same thing. Capital Markets is Investment Banking, to be specific it refers to the "Products" teams.
I think VC and PE require a lot of modelling. You won't necessarily do a lot in Capital Markets unless you're in Project Finance, Securitization, or LevFin(?). But it sets you up to make an internal move to a Sector team later on, which is where I think you would be doing modelling.
Getting into a BB isn't the be all and end all. It's extremely hard to break in, even with experience under your belt. So don't just apply to them and no where else, be strategic and cast a wide net.
Thank you for the clarification. My backup plan is to go t15 mba program. I just want to be stimulated and rewarded for hard work. I made some poor decisions that put at a university not indicative of my intelligence.
Do you think getting a job at a fortune 500 business tech company keeps my doors open? I'm very fortunate to have c-suite connections at a company.
I'm not sure, sorry. I can really only speak about banking, I don't know much about PE/VC and entry into those. I would, personally, always pick the IB internship over the fortune 500 one. You should focus very hard to secure it.
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