Search vs PWM
Freshman at a non target - currently interning remotely with a searcher in Utah. Signed the offer ab a month ago and I am with her until this April when school ends. Looking for something this summer and was wondering where should I start looking. A common path for some kids at my university that have broken in is PWM freshman summer, then interning at a boutique bank soph summer, but I feel like my case is different since I have something PE related this Spring. Should I start looking for a PWM internship this summer, or should I reach out to some boutique banks in my area and try my luck there? Or maybe ask my boss if I can stay with her for the summer? Not sure…
All three options are good. Keep all of them open.
One thing I think should be said prior to any of my other points is that I think a "remote search fund internship" is going to be greatly discounted on paper, and unless you can speak very clearly about what you did at this internship, probably will be looked at as starting from ground zero. Not saying it can't help, but without additional background that is the way I see it. I mean if you are actually looking at deals and spreading financials, then that is great experience. I don't think it would be the worse to stay on for summer if you can, but without more color, I cannot provide concrete advice.
The PWM is more common not because its required, but rather there are many more opportunities to break in so naturally more kids will land there. It can be a great way to get something tangible on a resume, but also thinks it has the same ability to fall flat depending on the firm. I think very realistically, with it already being February, this might be a good route to go down as a lot of shops are probably starting to shore up summer interns.
I would keep/start networking with regional banks as if you do try and go to a EB/BB or PE, then you will need some sort of IB experience. (Insert talking point about how you can break in luck and no internships *blah,blah,blah,*) You are young enough, that there is just no reason to not get the experience and see if you like it. I would also try and get PE internship you sophmore summer as you are young and should see if you like the buy-side.
Hope this helps a little bit.
This helps a lot , thanks
But you are right, I am not getting a ton of active deal experience. Most of my work is comprised of industry analysis and cold emailing.
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