Hey guys, first-time post here. I was recently offered an internship position with BofA for Global Markets Ops/Middle Office. This is my first internship offer ever, so naturally I'm very excited. However, I'm not sure if the line of work is exactly what I'm looking for. Ideally, I'd like to go into IB/PE or CREI, but I know that I need a foundation of at least SOME kind of finance work if I even want to be considered for those kinds of internships. I'm currently a junior finance major at the University of Florida, with only some experience in small-scale financial management and operations. So..... is it worth it? I only have a limited amount of time before I must make my decision, and I don't know if I should accept it and make the most out of it and use my experiences for future applications, or just let it go and take my chances on getting something more IB-oriented later on. As I said, I'm a junior now so an internship for this summer is a MUST. What would you guys do? Have you heard of the GMO internship/experiences? Thanks in advance!
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I would accept the offer, especially if this is your first formal internship. BO/MO gets a lot of crap on this board but it a good job straight out of undergrad. IB recruiting is slim and it's best to hedge your bets.
Definitely accept. You only have the luxury of declining an offer when you have something better on the table. Furthermore, you are coming from a non-target so banking is an uphill battle. BoA has some great internal career mobility so id do well this summer and make some good contacts. Let them know you really want to do banking and maybe they'll put you in touch with someone you can interview with and give you a recommendation.
IBD might not work out but you might be able to network your way into corporate/commercial banking which does have potential to place you into Lev. Fin/DCM roles in IBD.
thanks for the input guys. anyone else have an opinion? im just frustrated because I feel like i'd be shutting myself out from other possible opportunities that may arise between now and the summer. but i agree with what you guys said
That's a great internship but like you said you don't want to shut yourself out for other opportunities that may arise.
Considering that most places aren't even offering for summer yet I would hold off on this offer as long as you can. If it comes down to it though, definitely weigh the risk/reward. But if your gut feeling is IB or something else other than this you may want to turn this down in lieu of an offer in your preferred department. Sure you are risking having an internship at all over not having one, but it may be worth it (I think it is).
Also depends how strong of an applicant you are. How strong is your gpa, are you at a 3.7+ as your school is not a target. Do you get IBD recruitment for your OCR? If you do get some IB recruitment but arent in the top of your class your chances are not great. If you had other internships in the past that were also in operations it might pigeonhole you as wanting to be an OPS guy but it definitely is possible to get IBD after a MO internship but its also getting harder given the fierce competition and you would have a hard time stacking up against candidates who have IB internships. You should see if there are any boutique IB near by and offer to work for free during the school year, that would give you a better chance for FT.
bump! anyone else have any opinions? we have some OCR for IB like wells and suntrust robinson humphrey. not too sure about others. Im at about a 3.56 gpa right now (maybe higher, waiting on final grades to post cause I've done really well this semester).
edit-to be specific, i have about a week and a half to accept
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