I’m currently deciding between a situation and was wondering what best prepares me for 2021 SA recruiting. One option that I have is working at a firm such as black rock, vanguard etc doing corporate finance (paid/formal training etc...) or the other option which I have accepted is an unpaid boutique internship (most relevant experience) I am pretty set on doing m&a advisory in the future so what sets me up the best for this?
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How much does the corp fin internship pay?
well
A variation of this question comes up somewhat frequently. I would strongly suggest the investment banking internship as long as you will be getting real transaction exposure and can take on relevant responsibilities. If you can afford to do so (I recognize there are plenty of folks who can't), I would not concern yourself with pay at this point. Having real IB experience this early on will pay dividends down the road.
For what it's worth, I know my team would much rather hire someone who has worked on live deals, is familiar with the process, etc. - all else being equal.
When you're recruiting, and you are asked about your internship experience, you can always say something like you had an offer at BlackRock doing ABC type of work but chose to work at XYZ for relevant experience. This will let them know you are capable of going through an interview process at a name brand firm like BlackRock or Vanguard, but chose an internship that was more relevant to your goals. Any banker worth his or her salt will see this as a positive
I guess what I’m saying is I do understand IB is unequivocally better than Corp fin and on a resume. but, for me, is it worth the X thousand dollars I’m giving up over the summer? could it be the difference in getting a super day or even interviewing and getting the offer? because I also get that that doesn’t really have a $ value on itt.
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