2 Internships.. SAME TIME
Would working in 2 banking internship at the same time creates a conflict of interest?
This is probably a stupid question but I just want to make sure..
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Yes. More importantly, in a real full internship you need to be in your seat during the daytime. Can't do that in two places at once.
If you stick two banking internships on your resume on the same dates, you're going to raise some serious red flags.
bullshit.
http://www.linkedin.com/in/jansramek
bullshit.
http://www.linkedin.com/in/jansramek[/quote]
Macro Arbitrage is that your resume :O
Actually I did this my sophomore year. They weren't both banking, one was VC but I got a LOT of questions from interviewers. I ended up just taking one off and calling it a "research project" instead.
sounds like a dumb thing to do. Just concentrate on one internship
I was kind of expecting this from the title:
Peter Gibbons: What would you do if you had a million dollars? Lawrence: I'll tell you what I'd do, man: two jobs at the same time, man. Peter Gibbons: That's it? If you had a million dollars, you'd do two jobs at the same time? Lawrence: Damn straight. I always wanted to do that, man. And I think if I were a millionaire I could hook that up, too; 'cause employers dig dudes with money. Peter Gibbons: Well, not all employers. Lawrence: Well, the type of employers that'd double up on a dude like me do.
Possible to take two internships at the same time (I did one in banking + one in PR at the same time... don't ask...) However, two internships in banking (or the same area of business for that matter) at the same time is a breach of non-compete. Look at your offer letters before you sign them...
Illegal to do internships at PE and IB at same time? (Originally Posted: 08/18/2012)
Is it illegal to do an internship at an investment bank, and a private equity firm (not related companies), at the same time?
I think it may depend. I was doing an internship at MS, and I had to disclose all other income I was getting from any other sources. if it was with any other company from FINRA i had to dissociate with one. But my compliance officer was OCD about rules so idk it might be different elsewhere.
Most likely, yes, primarily due to conflicts of interest.
You rarely have time to take a shower during an IB internship , leave alone doing another job.
Class A Felony in NY state
Makes sense, interesting point.
Conflict of Interest question?-- Need advice (Originally Posted: 01/08/2010)
I have already accepted an offer to intern with Merrill Lynch this spring semester- It will be two days a week. However, I can also get a position this spring semester at UBS two days a week so technically I can work at both ML and UBS at the same time. Do you think this will fly?... Is it worth asking my boss at ML if he would be cool with that or will that just make me look unloyal... Thanks
i think you can spin it...aka tell ML that you will give them information about UBS clients, potential new IPOS/M&A transactions so they can use it to their advantage
not sure if this is allowed
^ dont listen to eagles You can't technically work elsewhere without informing your existing compliance team about "outside" interests and being paid from a different source.
Intern = employee. You cant be an employee of two brokerage firms.
how the hell did you manage that??
^ don't underestimate Fordham.
Working two PWMs at the same time (Originally Posted: 04/13/2012)
I have offers at two different PWMs this summer and I am able to work both. Would this be possible or are there laws against this? I haven't talked to the branch managers yet, but I don't think they would like it either.
I like your style: I did the same thing years ago. They don't need to know what you do when you're not at the office. You aren't licensed or handling any sensitive information, so you're in the clear.
Benefits: * two networks to pull from * demonstrate work ethic and good time management * get a feel for several companies * can spin this many ways on resume
Downside: * None
or, devils advocate, you could get more in depth exposure or become VERY close with the FAs in one of the PWM offices that could be willing to introduce you to bankers (if ur lookin for IBD sumemr after)
just my thought, better to be close/good at one thing/people than mediocre at several...
either way congrats, cant go wrong and UFOinsider is correct as well
If you have access to private financial information from both firms you could definitely be in violation of some law or SEC byline.
Think about it: you don't think the branch managers would like it. So you're saying you don't think the better informed parties would approve - it seems like you already know this could be a bad idea. Why else would you feel that way? And I disagree with UFOinsider that this demonstrates good work ethic and time management; you could just as well display this by doing a great job at just one shop.
The internships are only 20 hr/week so it would be easy for me to do both. I probably won't get much respsonibility at either place so I want to diversify my experience by doing both internships.
I would definitely ask the branch managers what they think, but I don't want to sound like I'm leaning toward the other firm.
Does anyone know where I can find SEC bylaws related to this?
What you should do is sign the offer for the PWM internship you like the most and then READ the contract. Many times there is a non-compete clause that prevents you from working at another financial services company (especially a competing bank) at the same time. If you violate this and they find out you can get yourself into legal trouble.
Ah, I see your problem - you won't have the opportunity to go in depth at either because of the part-time restraint.
Honestly, I would suggest working at the one you like best and then committing your other 20hrs/week to something completely different, but interesting. If you're an athlete, teach at an athletic summer camp in your area. That could be a huge sell point for a lot of people I know in S&T at least.
What is the point of working at 2 PWM boutiques at the same time? You're just going to be doing the same mundane tasks 2x. Your better off doing one and spending the other 20hrs learning to model or reading books or taking a class.
2x the number of potential contacts
I would do it.
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