Summer Internship Advice - Trying to contact boutiques?
So I am a sophomore student at a semi target (think Ross/UVA) and have been trying to lock something down for the summer. I have been contacting alumni at boutiques and cold emailing and from the few response I have gotten, I have been told they are only looking for students in their third year.
Currently I have an internship in New York through a family connection at a small firm that evaluates securities such as CDOs. The firm is small and I don't really know if I will get a great deal out of this.
I also think I might have a PWM internship at Merrill if I want to do that.
At this point as late as it is, is it worth still trying to contact boutiques? And how will either of these internships look as a sophomore for SA recruiting next summer?
Thanks
You'll be fine. Some sophomores get into IBD/S+T programs and that gives them a definite advantage in junior recruiting but it's not necessary. PWM at Merrill is pretty standard and should set you up for junior year. The CDO shop could be a solid experience too. If you're actually evaluating CDO's that can get pretty quantitative and you might get modeling experience so that should be a good talking point. Just keep your grades up, network relentlessly, work hard this summer to get good experiences that you can talk about in interviews and you should be fine.
At this point, you can try to contact boutiques as there are a few that are still hiring but most are looking for kids in their junior year. Wouldn't hurt to try but I wouldn't expect much. You're in good shape though and PWM or the CDO place will be seen as above average.
The main thing is that you have to network. Even at top targets, networking is really necessary to get a good internship. Networking far in advance for junior year. Exhaust the UVA/Ross/whatever alumni database and build a big spreadsheet of contacts. You should be fine.
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