Goldman PWM v Intel Corp Fin
The title says most of it, but honest advice is appreciated.
Are there really that few of exit opps from PWM?
Does corp fin potentially set me up better for a move into IB?
I've recently changed my graduation plan and as a result this could be considered my sophomore summer. I will have two more cracks at fall recruiting (Fall '11 and Fall '12).
Is this intern or ft? I don't what you mean by "no exit opps from pwm" if this is an internship, especially prior to your junior summer. I interned pwm and am working bb SA s&t. Internships don't really pigeonhole you, even if it were your junior summer(although it makes it harder). If you are a sophomore, I think Goldman would look great on a resume, and wouldn't pigeonhole you whatsoever.
it's an internship - SA position
This is actually a tough one. I'd say go with GS just because both aren't IBD and it's a better name. Can you post the specifics on the Intel role like what you'd be doing?
You are given a project that blends strategic and operational finance work. Some of the responsibilities could include: * Competitive analysis and recommendations * Capital affordability and should-cost modeling * Factory capacity analysis * Strategic project valuation and prioritization * Critical success metric development * Product pricing and benchmarking * Inventory valuation * New product development valuation * Strategic modeling * Cost reduction analysis
yeah it is a hard one. depending on what the intel position entails I would take goldman for the name. corp finn doesn't necessarily mean corp dev. if it was intel corp dev i would go with intel.
yeah not exactly sure, but I don't think it's corp dev
Also, most of the technicals for Intel were valuation/DCF/acctg based questions. Not sure if this helps
i vote intel. and keep in touch with GS. tell them you are interested in IB and went a different route. they will be happy to connect you with IB recruiter at GS for next year. you avoid pissing them off.
That sounds a little risky to me. Trying to be realistic here - I don't think a summer at Intel qualifies me for a Goldman IB gig. And asking them for an IB recruiter kind of sends a message of 'He was never interested in PWM anyways, why should I help him.'
Any personal experience doing so? Or anybody else want to weigh in?
Intel
For what reasons would you go w/Intel? What's your thought process here? I'm curious.
PWM is the path to nowhere. Turnover is extremely high and by no means should be considered an IB feeder. Corp Fin at Intel actually sounds like a really cool role.
appreciate the advice.
From your standpoint, I am curious as to (1) why exactly PWM is a path to nowhere and (2) how my intel experience would be more beneficial/more of a standout/why you think it's cool?
Intel. GS IBD won't give a shit that you worked in GS PWM, so you can't really leverage that.
Intel for sure. It's much more relevant to IBD given the description you provided. Many students have PWM experience, and you really don't do much in PWM as an intern. Intel gig will set you apart from other candidates. Plus the intel gig provides a better story for you to go into IBD.
yeah my plan would be to use the Intel experience as a way to break into tech-related IB. I have previous analyst experience at Amazon so i think it would fit
is this for sophomore? i would interview with both (if you have not received offers yet). Try to get the offers from both, obviously. HR understands you are in the "exploring" stage career-wise. So get back with GS tell them you found an opportunity more in line with your career interests blah blah blah. They would rather forward your bio to IBD rather than having you for the summer knowing you will make the switch. they will respect that.
the guys abovie are right...GS doesn't give a shit about a pwm internship. there are too many of those. Go on Linkedin and look up kids you just became GS analysts..everyone did pwm at a BB. set yourself apart and have a story. id take it up the ass for intel.
This made literally no sense.
Also, a little confused - What do you mean you'd take it up the ass for intel?
thanks for the help btw
yeah sophomore and I have offers from both, so just trying to decide.
I don't get the feeling they would forward my stuff to IBD - it's not exactly in an area where IB has a presence on any level and is a smaller satellite office (25-35)
There is one point here that I think definitely tips it in favor of Intel - unless I'm reading your post incorrectly, the GS PWM offer is for a satellite office, meaning you would not be in NYC and wouldn't be able to network over the summer, which presumably is half of the benefit of doing a PWM SA position if you don't want to do that as a career. If it were GS PWM in NYC then that would make a more compelling case, but in this situation I''d go with Intel.
bump
Bottom line is that PWM sucks. While the Goldman name is strong, you're not going to have much to talk about in interviews because the experience in PWM is in no way related to IBD. You said you were serious about Tech IBD, I talked to an analyst who said if you can't get an IBD internship, the next best thing you can do is get into a solid, structured internship program at a Fortune 500 in the industry in which you're aiming for. For instance, he said a kid did an internship in Corp Dev at AT&T, and all the Telecom guys loved his experience and offered him on the spot since he had tangible experience inside a Telecom company. Intel hands down dude.
The intel gig actually sounds cool as shit
Plus it will pay infinitely better than PWM and give you a great experience, especially if you're on the west coast or are interested in tech banking
Pretty sure GS PWM SA is 70k prorated...
yeah its 70K for GS, whereas intel is ~ 50
do they? I've never done PWM but the Merrill/Smith Barney gigs that my friends were doing back in the day were either free/part-time or $10-15/hr 9-5 gigs
I'd still take Intel
Would also potentially still take Intel over even GSAM
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