Morgan Stanley PWM or Middle Market M&A Advisory Firm Internship?

Hey guys,

I’m a Sophomore at Northwestern University, studying Economics and Business Institutions. I’ve recently received two offers for my winter quarter internship; one at MS, where I’d be a PWM intern, and one at a lesser known, Chicago middle-market M&A advisory firm.

From what I’ve gathered, the M&A advisory internship will be extremely hands-on. Our team consists essentially of our managing director, and 3 interns, all who will be given direct help in learning the different industries within M&A, different financial valuations (DCF, etc.), and support with letters of recommendations for other internships, jobs, or graduate school. The MD is VERY supportive and seems like he sincerely wants us to do well, no matter the industry we end up in.

Morgan Stanley, however, will be Private Wealth Management, which I’m certainly interested in, but potentially not as much as IB or management consulting. The culture is definitely more formal as well, but that’s not necessarily a con for me.

My main question is this; does the brand name of MS outweigh the better hands-on experience for IB/Consulting at the M&A firm?

Thank you so much, any advice would be appreciated!