Lazard IBD internship vs Apollo Credit internship

Hi all,

I'm currently doing an internship at a small PE firm till July and currently looking at these possible opportunities for the second half of the year (5-7 months)

Which of the summer internships would be better for a final year student who will be graduating a semester after the internship? Or should I go back to school for my last semester? I'm particularly worried about exit options, don't want to graduate without a job.

Apollo (opportunistic credit)
-Small Team with senior officers
-Good Learning opportunities and interactions
-Great Brand name
-No full time conversion (go through interview process again)
-No idea if credit is something I want to do in the future, skillset picked up might not be used in my first job upon graduation
-Around 70-80 hours a week

Lazard IBD
-People I will be working with (they interviewed me) look like a fun bunch
-More people/analysts, so I should be able to get guidance
-Long hours (100 hours a week) with weekends
-Expanding their office, might convert to full time
-Will pick up the IB skillset that I might use in the future (probably more useful compared to Credit, especially since It's really hard to get into a PE/fund upon graduation)
-Pretty good brand name as well

End goal: PE fund
Short term: IB/Consulting/PE (preferably consulting but they aren't really hiring in my area) and then MBA

Thanks wallstreetoasis!

6 Comments
 

When you say no FT conversion as in they are not planning to keep you? Or they are and it just depends on whether you fuck up? It's a big difference. If the former go to Lazard.

The way Ah see it, is that it took a revolution f a bihllion people for your darn short to work out!
 
"HedgeWhore"

When you say no FT conversion as in they are not planning to keep you? Or they are and it just depends on whether you fuck up? It's a big difference. If the former go to Lazard

the former being they are not planning to keep me? I would say yes, as they don't normally convert through this internship, but they are expanding and wouldn't mind converting as they told me during the interview. They have converted a previous intern before. In general, they'll convert as long as you're good. I asked them what they're looking for and they said that there were some interns who didn't take the initiative and did basic stuff whereas the better ones took on the challenge of modelling etc
 
Best Response

You're welcome. It's a pretty hard choice.

My 2 cents - go with Apollo. It's a great place to be at, very hard to break into.... and you might get the chance. I don't think you would have hard time with FT recruiting if that doesn't work out.

Can't tell you how many people I know at Lazard, Goldman, etc. Not that those are not fantastic firms, but Apollo is really something special... far more selective. I think that opportunities like this one are way more exciting than IBD, and you can go to a BB IBD from there fairly easy. The other way around is an uphill battle with huge luck factor.

 

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