PWM: Informal Internship at BB?

Hey all,

Background: I'm a first-year student wondering what I'm supposed to do this summer.

Although I never realized this for a while, one of my parent's friends is an employee in the PWM Division of a BB. I don't know her exact rank in the hierarchy (I have no idea what the chain of command is like at PWM), but I do know she's been working there for over 10 years.

Now a few people I knew that go to my school interned at BBs in their PWM Division (primarily UBS and MS/Smith Barney). Some during the summer of their freshman year or off-cycle during their sophomore year. They were able to do this through informal connections supposedly. Former PWM interns at BBs, did you guys get in through informal connections/networking or through formal SA/off-cycle programs? I'm not sure if I should approach this person for an internship or something.

Thanks.

5 Comments
 

I just got offered a PWM position at MS. It's mostly for the spring and the guy was up-front about not being able to guarantee a position through summer due to the fact that every June 1st clients will call in asking to get their kid/nephew a summer internship. He said he's been doing this for 30 years and every year he gets the same requests.

 

Ok, and HR was fine with blatant nepotism (for lack of a better word)? And you said the clients asked not employees?

 

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