Taking the current market into account and where it will probably go, is it best to go into IB, PE, or VC for a Junior year summer internship if you ultimatly want to end up in PE or VC?
thanks
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Assuming that you could get a job offer from all three, just take the one where you think you will learn the most (most likely IB). Otherwise take which one you get. The most tried and true path to PE/VC is always through banking, plus you get the added "benefit" of having your resume be more attractive to an IB. During interviews we always prefer the most relevant experience, that is a banking internship, to PWM, PE, VC, or whatever else might be on there.
So, unless you think you are going to be in PE direct out of college (which is quite unlikely in the current market). Go IB.
There are some PEs (e.g., MMs like Audax and small ones like Celerity) and VCs who recruit for summer internships but it's unlikely that you'll even be able to get anything with current market conditions.
Also keep in mind that a lot of PE/VC summer internships can be total BS and not really teach you anything (more true on the VC side).
I know a girl who interned at Sequoia over the summer but all she did was administrative work and babysitting the Partner's kids. Yes, she got to travel a lot and could say she worked at arguably the top VC in the world, but experience counts more than brand name in internships.
Plus, going banking first gives you more options than doing PE/VC first if you change your mind down the road.
Good point about Sequoia...I was on the fence about pursuing an internship there, but wasn't sure if it was worth losing the formal training you get with an IB program
Just wondering, what is the recruitment process like for Sequoia? Also, how would banks view candidates with a top PE internship but not getting the offer and applying to them for FT analyst roles instead?
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