Heavy sourcing undermine credibility of internship?
WSO Monkeys,
I'm an undergrad interning at a small-MM PE shop that is relatively new (2 years old) in LA. It's 90% cold calling companies and 10% deal analysis (very bare bones--just Rev, EBITDA then fill out a deal sheet and submit to partners.) My goal is to get into IB--so given that this experience is very source heavy will banks take that seriously? Of course, I'm going to spin it on my resume but I'm wondering if sourcing-heavy PE shops are laughed out of interviews (something I could imagine happening.) I have an offer from a pretty legitimate PWM firm ($6B) under management and was thinking of doing both internships. Any advice? Thanks in advance for the help--don't have anyone to turn to with this kind of stuff.
What year of school are you?
If you're looking to develop analytical/technical skills, then maybe the PWM gig is better. But first confirm what the PWM gig entails...if it's still just more cold-calling, maybe you're better off staying where you're at now.
I'm a 3rd year but have an additional summer left after this to intern as I am graduating in the Winter of 2013. I've put up with the PE internship because, from what I understand, PE will make your resume stand out as most undergrads don't have that experience. The PWM gig is going to be more analysis but I feel like it's bogged down by the industry it's in (PWM)--it's prob the best PWM experience I can get short of a BB like UBS but it's still in PWM and I think all banks would prefer to see PE over PWM--even if it's a small time PE shop.
Well, then it sounds like you've answered your own question.
Best of luck with everything.
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