I currently have two internship offers. Would you choose working at a boutique Brokerage firm that is unpaid or a research position at a boutique Advisory firm that is paid.
My goal is to break into Acquisitions at a PE firm after college.
Thank you for your advice!
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What year are you in e.g. Junior, Senior?
Also, which boutique and what market?
I am currently a Sophomore. The Advisory firm is global The Brokerage is based in the D.C Area
advisory firm
Advisory firm? Like a brokerage?
The Advisory firm does a lot of market research across the country. Analyzes supply and demand in different areas. Lots of analysis in different markets and Portfolio/Asset evaluation
The brokerage is focused on tenant rep
I think advisory is probably the better option. You'll learn a bit about market dynamics, which in my opinion, is fairly important to acquisitions.
Advisory firm. You can spin that next year into a financial analyst intern/roles the following year.
Advisory without a doubt. Tenant rep will give you 0 analytical exposure. At a boutique I imagine its completely a sales gig.
So, a few ways of looking at this....
1. Which firm's clients are most like the clients you want to work for (i.e. can network with or the name will carry cred when you apply later, given the advisory firm seems to have nationwide client base, I would guess they have the edge, but you can figure out)
2. Which internship will give you better skill development/experience (I'd guess the advisory firm would be the obvious one, brokerage internships can be lame, but really depends on the details of who/what team you work on... of course tenant is far field from acq, so I'd say advisory firm has to win on this)
3. Which would be more interesting from a full-time opportunity if offered (whether get other offer or not, which would you rather return to, totally personal, just note that the advisory firm is likely better field to go principal side when compared to tenant rep)
So all things considered, from what you have said, advisory firm is likely winner but you can check my assumptions and fit to your plan!
Advisory 100%. Unpaid work at a boutique brokerage will almost always involve some sort sales work like cold-calling, cold-emailing etc. Unless the shop does incredible volume in the market they’re focused in and the principal is a rainmaker then sure, it would be a contending choice.
If your goal is to end up in brokerage, the advisory role would be a better experience imo and it will at least be more of a learning opportunity which you can use as a talking point in interviews for analyst positions in the larger brokerage shops.
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