Advice Needed - Consulting/VC vs. BB PWM internship

stern13's picture
Rank: Chimp | 3

I am asking this in regard to preparing for Jr. Summer IB internships - preferably in research.

I am a rising junior and have been offered two summer internships so far: one at a bulge-bracket firm doing PWM (the kind where FAs earn commission and other finance professionals may derisively refer to them as "brokers"), and the other is at a start-up consulting/VC firm.

I already have a PWM internship with another BB, and frankly, the suit I was wearing was the most impressive part of the job.

I don't know much about what I will be doing with this new BB, but I am not extremely optimistic, because although during the phone interview I was told that equity research would be involved, a phone interview was all I got. I was never interviewed in person, which I found both extremely bizarre and somewhat unprofessional.

The consulting/VC firm, on the other hand, is a start-up filled with enthusiastic and intelligent people. I had a great feeling about the interview and I know they interviewed a lot of people. But, it's a start-up.

My friend in AM at JPM says that I should go for the VC opportunity because it is more targeted to investment banking and I already have a PWM internship at a different BB, anyway.

I am also leaning toward this decision, but I wanna hear more opinions on this -- I am really stuck and I have to decide by tomorrow.

Given that I already have a PWM internship at a BB and I have perfect GPA etc., what sort of experience will add more to my resume and get me more calls in the fall and spring?

Thanks in advance; I know this was a long post.

Comments (6)

May 16, 2011

You have a perfect GPA @ Stern and your only options are a Startup and PWM? With previous finance experience? Pretty shocking if that's true. That said, the Consulting/VC gig will likely give you better transactional experience to write about on your resume and interesting stories/connections for FT recruiting. You already have PWM experience so there's no point going back to the same pointless busywork.



"Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to become the means by which men deal with one another, then men become the tools of other men. Blood, whips and guns or dollars."

May 16, 2011

yeah i had a weird semester so i didnt apply until later on this spring and missed out on a lot of stuff.. thanks for the advice

anyone else out there have an opinion?

May 17, 2011

just wondering, what consulting/vc is it? ff venture??

It seems to me like you should take the VC. You supposedly make good connections because you often work with/talk to Ibankers. Also, how much more interesting are you coming out of VC than PWM.

It seems to me that VC is full of smart, talented people and PWM has less brilliant, less compelling, smoth talking people. Which would you chose represent yourself.

May 17, 2011

Yo, go for the consulting/ VC gig. You'll easily be able to swing a FT when FT recruiting comes around. You already got a BB PWM on your resume anyway.

Still I Rise

May 17, 2011

I don't really understand the value of a PWM internship

Would rather interview a guy who lifeguarded or was a camp counselor during the summer

May 17, 2011