Hi, i'm a sophomore hoping to break into PE at a junior level after graduation, and I would like to know what kind of internships would be relevant for breaking into PE.
Currently I have 2 unconfirmed offers for a summer internship with a young company/start-up that has been around for less than 3 years in business development, I would be doing marketing, sales, operations, basically it is a flexible gig that allows me to do whatever I want after I explore all the roles. The second offer would be less flexible, doing business research for an SME. Basically I could learn more about research skills and financial modelling, and more technical skills that are related to finance.
I've heard mixed reviews about this, as some people have told me that PE firms actually do like people with diverse experience and are willing to get their hands dirty, whereas some have told me that the start-up experience would probably be irrelevant. Therefore would interning at a start-up/ young company and getting your hands dirty be more relevant in the PE context, or would the more conventional kind of internship be more highly regarded due to the technical skills that I pick up? What internships do employers actually look for in a candidate? This would be my first internship, probably going to do 1 or 2 more before I graduate but I would like to take a step in the right direction.
Thanks!
It really depends on what type of firms you're targeting. If you're looking into MM PE shops for junior year SA, try to get a boutique PE sophomore internship. If you're targeting megafunds for SA, its a whole different ballgame. You'll need a 3.8 (might have been 3.9+ this year) at a top target and have a sophomore internship in strong MM PE or HF shop (or work in IBD in an elite boutique/bulge bracket, but this is not an option since recruiting is over).
That being said, I would try to snag a boutique IBD internship. It'll set you up very well for SA BB/EB IBD recruiting. For full time recruiting, megafund and middle market PE firms are looking for BB/EB SA experience.
PE internship before BB IBD helpful for PE recruiting? (Originally Posted: 11/28/2009)
Is a PE internship before I graduate and begin my BB IBD analyst position helpful for buyside recruiting down the road? I could potentially point to it as a reason why I became interested in PE.
Thanks in advance!
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