Which internship should I chose?
Hey everyone,
Freshman here at a non-target, really grateful to have a few internship options but struggling to decide which would be best, especially with recruiting next year in mind.
How would you rank these?
- M&A Analyst role at a lesser-known investment bank
Title sounds great, but after looking into it, the role seems more like sales (sourcing clients, outreach, etc.) than actual deal work but the role is called "M&A analyst". - Private Equity internship (unofficial/unpaid)
Connected with a partner at a smaller but legitimate PE firm and was offered an informal internship. Seems like I could get closer exposure to the field, but it’s not a structured program. - Finance internship at a larger healthcare company
More traditional finance role (FP&A-type work). Company is fairly well-known (30k+ LinkedIn followers for reference—know that doesn’t matter much, just giving a sense of size).
Main goal is setting myself up well for recruiting next year (IB/PE path).
Would really appreciate any advice, thanks in advance.
Based on the most helpful WSO content, here's how these options stack up for your goal of setting yourself up for IB/PE recruiting next year:
Private Equity Internship (unofficial/unpaid)
While it's informal and unpaid, this option offers the closest exposure to the private equity field, which aligns directly with your long-term goals. Even if it's not structured, working closely with a partner at a legitimate PE firm could provide valuable insights into deal processes, financial modeling, and networking opportunities. This experience would stand out on your resume for IB/PE recruiting.
M&A Analyst Role at a Lesser-Known Investment Bank
The title sounds appealing, but if the role is more sales-oriented (client sourcing and outreach) rather than actual deal work, it may not provide the technical skills or deal exposure that IB/PE recruiters value. However, if you can spin the experience to highlight transferable skills (e.g., relationship management, understanding of M&A processes), it could still be useful.
Finance Internship at a Larger Healthcare Company
While this role is more traditional and at a well-known company, FP&A work is less relevant to IB/PE recruiting compared to the other two options. It could still demonstrate analytical skills and corporate finance knowledge, but it won't carry the same weight as direct exposure to M&A or PE.
Recommendation:
Go for the Private Equity internship if you can handle the unpaid nature and lack of structure. It aligns most closely with your goals and will likely provide the most relevant experience for IB/PE recruiting. If that's not feasible, the M&A Analyst role would be the next best option, provided you can emphasize any deal-related aspects of the role.
Sources: Two Internships Later: What I wish I Knew While Recruiting! (Toronto), Two Offers, both bad, help me decide, My Take on Deciding Between Top Summer Analyst Offers, Q&A - Private Equity Internships, Best summer option for breaking into Private Equity post-MBA
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