Which internship to pick?
I am currently recruiting for SA 2024 IBD in New York.
Not saying I have all of these options, but I'm wondering if you could pick, which internship would you choose for Summer 2023? What would look the best on my resume as I recruit for IBD and what would help me the best in the long run? If you could rank them that would be great.
- No-Name VC Internship in NYC
- Small IB shop, but not in New York
- Tier 1 Crypto HF
How tf did you get an internship offer from a Tier 1 Crypto HF? Congrats either way, imo I would narrow it down to the IB shop or the Crypto HF.
I don't have is the Crypto HF, but I think that I can maybe land it via connection (it is far from guaranteed).
Would IB shop definitely be chosen over VC? I think it definitely looks better than the VC when recruiting for IBD, but I feel like the VC internship would be a ton of fun, it's a small team so I'd have great exposure, and probably less demanding (I can focus on other things in the summer too).
In your shoes, I would still pick the HF or IB internship.
Crypto HF makes you stand out way more, would def do that, you can always do a search fund part time on the side (or starting now) and do clubs or stock pitches for IB related technicals on your resume but the HF experience is unique
IB shop is definitely the safest option, no one will question your interests when talking about SA24 and IMO looks best on your resume. You seem to like the VC firm, that is certainly good for the resume but less relevant work. Small VC can kind of be the wild west, so I'd diligence it to make sure you'd actually be doing relevant work.
Crypto HF may be polarizing.. there are a lot of people in IB, especially seniors, who really don't like crypto with what's gone down in that space in the last 12 months. Unless you are really interested in crypto I personally wouldn't open that can of worms in recruiting
Soph summer internship is important in that you should have one and it should be in finance. I think people get way too wrapped up in what exactly it is. Be able to talk about why IB, otherwise choose whichever you think you will learn most in or pursue an interest for down the road.
Awesome, thanks. I've been doing a remote internship with a crypto fund for 2-2.5 years now, so I'm already expecting to get blasted.
I'd definitely be doing relevant work when it comes to the VC, but I agree, the IB shop may help me the most when it comes to recruiting this season. I guess what I'm trying to figure out is if the difference between the IB shop and VC will be notable throughout the recruitment process, because I think that I'd definitely enjoy doing the VC internship a lot more--seems like a ton of fun.
How competitive is your profile otherwise? If you're at a target and/or have a previous IB/PE internship, you've done enough IMO, take whichever you like more
If you're at a non target and the crypto fund is the only other thing on your resume, IB would be a big addition
Not a binary yes/no, but I would just weigh this with the rest of your profile
Gotcha, I'm non-target with no other experience other than the small crypto fund where I play a huge role--I'm a partner.
Thanks for this, definitely leaning towards making IB internship happen.
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