Currently a sophomore student-athlete with a 3.85+ at an Ivy, with equity research experience for a hedge fund (primary research, financial modeling, etc.). I have an offer with MS PWM for the summer (chill gig, ~20 hours a week), vs a paid IB internship at a boutique (more intense, ~40+ hours a week, good deal exposure).
I'm aware that the work is bs and irrelevant for banking, but I'm still currently leaning toward MS PWM, as I'm also trying to enjoy my last summer at home with family and friends before junior summer in NYC (hopefully IB at a BB).
My question is, would taking the boutique IB internship land me a position for junior summer that I wouldn't have been able to get with MS PWM on my resume? Both gigs are located near my home in the midwest.
I would absolutely go with the IBD Boutique if you're trying to get an IBD BB internship for junior summer. It will 100% give you better opportunities and leverage in the interviews when the recruiting cycle comes up. It will also give you a little taste of what's to come.
Isn't MS PWM for 20 hours a week going to be cold calling for $10/hour?
Unless you actually enjoy cold-calling randos at Morgan Stanley, I'd recommend you take the boutique internship. Working at the boutique will look better on your resume, as too many people already do the MS PWM gig in the summer before their junior year. And the fact that the boutique internship is paid makes it especially appealing, considering a lot of freshmen/sophomore can only get work experience in boutique investment banking by offering to do unpaid internships.
If investment banking is your end goal, why would you choose a non-IB internship over an IB internship? Choose the boutique role and spend some time this summer networking. You should be set for junior year SA.
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