RE career path

I completed my last internship one month ago (I have completed three internships in total at a Italian investment funds- All of those are well-known in Italy but not enough in Europe). I graduated (master degree, so I am 25) one year ago.

At this stage of my career, with the goal of securing an offer in London in REPE next year (while being unable to leave Italy until 2026), I’m wondering whether it’s better to pursue another internship at a top-tier investment fund (e.g., EQT, HIG, Tikehau, etc.) or accept a full-time investment analyst position at a non-top-tier fund that operates exclusively in Italy.

It's too frustrating looking at your uni-mates get a full-time offer (also in a no top tier company in Italy) while you are still looking for an internship which helping you to get an offer in London. 

I would greatly value your insights and advice on the trade-off I’m facing, especially regarding the long-term implications of prioritizing a top-tier internship versus starting a full-time position in a less prestigious fund.

2 Comments
 

Based on the most helpful WSO content, your decision hinges on balancing short-term frustrations with long-term career goals. Here's a breakdown:

  1. Top-Tier Internship:

    • Pros: Securing an internship at a top-tier fund like EQT, HIG, or Tikehau can significantly boost your profile for REPE roles in London. These names carry weight internationally and can help you stand out in a competitive market. Additionally, top-tier internships often provide exposure to sophisticated deals and networks that are invaluable for breaking into London REPE.
    • Cons: The lack of a full-time role might feel frustrating, especially as peers secure permanent positions. However, this is a strategic move for long-term positioning.
  2. Full-Time Analyst Role in Italy:

    • Pros: A full-time role provides stability and allows you to build hands-on experience. Even if the fund is not top-tier, you can leverage this experience to demonstrate your commitment to the industry. It also helps you avoid gaps in your resume.
    • Cons: A non-top-tier fund operating exclusively in Italy might limit your exposure to international markets and deals, which could make transitioning to London REPE more challenging.

Recommendation:

If your ultimate goal is to secure a role in London REPE, prioritize the top-tier internship. While it may feel like a step back in the short term, the prestige and network from a top-tier fund will likely outweigh the benefits of a full-time role at a less prestigious firm. Additionally, since you cannot leave Italy until 2026, you can use this time to build a stellar resume with top-tier names, making you a stronger candidate when you're ready to move.

Long-Term Implications:

  • A top-tier internship positions you for roles in London REPE by signaling quality experience and international exposure.
  • A full-time role in a non-top-tier fund might pigeonhole you into the local market, making it harder to transition internationally.

Remember, the frustration of watching peers advance is temporary. Focus on the bigger picture and align your decisions with your long-term goals.

Sources: [Experience] Road to PE - Investment Analyst in a MegaFund, What internship will help set a junior year internship in Real Estate investments/REPE better: Fortune 50 or boutique IB?, What was your path to a Real Estate Private Equity job? Looking for advice, How to break into Real Estate Private Equity (w/ 0 RE Knowledge), Latam to top business school

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

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