Which job offer should I go for?
Hi guys, I'm a junior majoring in Business Administraion, in one of the top three schools in South Korea.
I got two internship offers, one of them is a South Korean local private equity firm and the other is Corporate Finance team at ING Bank Seoul Branch.
Considering my future career goal in IB, the local PE firm could be more suitable for me, but I'm worried that it's much smaller office than I expected.
And the ING Bank, it could be a very nice opportunity, but what I'll cover would be much more similar with those of commercial banking, not IB.
What position do you guys think I should go for?
I would suggest going with corporate finance rather than going for the name of PE. You will learn a lot in corporate finance about how the business works, financial modeling, valuation, and a lot more. I interned in CF this year in the summer (I got two opportunities, the first one in a hedge fund with 1.7 Bn Aum and the other one in a boutique IB in the CF division). As, for my background, I was a fresher majoring in Business Administration when I got the opportunity.
Think before you choose, as it is going to affect the type of internship you are going to get in your senior year.
Based on the most helpful WSO content, when faced with a decision between a local private equity firm and a corporate finance position at ING Bank, especially with a career goal in investment banking (IB), there are several factors to consider:
Relevance to IB: The PE firm may offer more relevant experience to IB, as PE often deals with financial modeling, valuations, and deal structuring, which are key skills in IB.
Brand Name and Network: ING Bank, being an international bank, might provide a stronger brand name on your resume and a broader professional network, which can be beneficial for future job searches.
Learning Opportunity: Consider where you will learn the most. A smaller PE firm might offer more hands-on experience and responsibility earlier on, while ING might provide a more structured learning environment.
Future Goals Alignment: Reflect on how each position aligns with your long-term goals. If you are certain about a future in IB, the PE experience could be more aligned with your objectives.
Cultural Fit and Personal Interest: Think about the company culture and where you believe you would fit better and be happier. Personal interest and motivation are important for success.
Exit Opportunities: Evaluate the exit opportunities each role could potentially offer. A role in PE might be more directly aligned with a transition to IB, but a reputable name like ING can also open doors.
Given these points, if your primary goal is to move into IB, the local PE firm might offer more directly relevant experience. However, if the size of the firm and the scope of its deals are concerns, the brand recognition and networking opportunities at ING Bank could also be valuable, especially if you can leverage this experience to transition into an IB role later.
Ultimately, the decision should be based on where you feel you will grow the most and which opportunity best aligns with your career aspirations. Consider speaking with professionals in both fields, mentors, or using the WSO networking guide to gather more insights before making your decision.
Sources: Big Startup vs IB, Rising Junior Losing Hope and In Need of Advice, PE or Corporate & Investment Banking SA???, Offer Decision Help Needed, A Tale of 3 Offers: What should I consider?
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