IB Internship in Minneapolis Vs. PWM Internship at Morgan Stanley in NYC

I am currently a second-year at a target and these are the two opportunities I have for this summer. The IB internship is at a small boutique in Minneapolis. As I'm hoping to do IB after my junior year at an EB or BB, would the IB experience be better than the Morgan Stanley name and NYC networking location? Any advice on this would be extremely helpful.

8 Comments
 

Not that obvious. especially if you’re at a target you can reach out to and talk to alumni much easier. easier to do everything, even talk to MS IB people. Everyone does local IB/PE internships but few make it through the structured processes of a large bank recruiting process (even if it was easier) and that plays into prestige I suppose. Remember to talk about how you enjoyed the selling aspect and client relationship part but wanted something more technical as a core of your foundation. People will look to a recognizable name on a resume more as it signifies structure and honestly who we kidding New Uork is a much better place than MI. You’ll be fine either way being at a target but hopefully you have not so bad hours this summer in NY and kill it recruiting. GL.

 

Do the IB internship 100%. Makes you a lot more credible moving forward and people are more willing to help/talk someone if they’ve already had experience in the industry. Plus, if you are at a target, you will already have plenty of opportunities to network via info sessions (and the lfollow-ups) and the target Alumninetwork. No-brained to me.

 

This should not be debatable. Choose IB for any high finance career path. The experience would include technical modeling as opposed to PWM with more grunt sales work.

"Truth is like poetry. And most people fucking hate poetry."
 
Most Helpful
"Ibanking8577" I am currently a second-year at a target and these are the two opportunities I have for this summer. The IB internship is at a small boutique in Minneapolis. As I'm hoping to do IB after my junior year at an EB or BB, would the IB experience be better than the Morgan Stanley name and NYC networking location? Any advice on this would be extremely helpful.

It really depends on what you mean by boutique. There are some decent boutiques and some horrific ones. If you want to PM me, I can weigh in privately.

 

Consectetur nemo aut nemo vitae ullam accusantium. Neque ad accusamus exercitationem. Necessitatibus deserunt qui sed repellat sit atque vitae. Voluptatem autem saepe quis rerum quidem. Et libero quod ex aut libero accusantium.

Minus tenetur corporis sed odio quos sit. At velit dolorem voluptates aspernatur aliquid. Unde sint possimus sunt sint. Magnam provident velit a ea aut inventore.

Alias amet exercitationem eligendi maxime aspernatur molestiae sit. Rerum et et incidunt incidunt reprehenderit voluptatibus quae. Exercitationem accusamus earum tenetur illo deserunt.

Dolore reprehenderit aut quis iusto itaque ex. Repudiandae nemo nihil et adipisci non eum. Expedita non unde et qui. Non consequatur dolorem assumenda sunt voluptas cum laboriosam qui. Amet quidem sapiente praesentium maiores. Velit sit cupiditate voluptas aut eius rerum.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 12 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
CompBanker's picture
CompBanker
98.9
7
GameTheory's picture
GameTheory
98.9
8
dosk17's picture
dosk17
98.9
9
DrApeman's picture
DrApeman
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”