Corporate Development Internship useful for a future internship in IBD?
Hello,
My name is Brandon and I am new to this forum. After lurking for some time, I finally decided to make a profile. I am a student at the University of New Hampshire and I am studying Finance. I will be a rising junior in the summer of 2018. Investment banking has always been the goal since the beginning of my college journey.
I have interned at a semiconductor corporation in their corporate finance dept where I learned many skills of the craft. They liked me a lot and invited me back for the winter break. Since I started there, I had become increasingly interested in M&A and corporate development because of the close geographical proximity of departments. I was told I could pursue an internship in the summer of 2018 in a corporate development role and it would be heavily weighed on M&A and and producing graphical data for use in EMT presentations. It sounds very impactful and I will most likely pursue it.
As promised by my forum designation, I am wondering if this position will increase my chances of any sort of investment banking internship in the future? I understand coming from a non target school is a long shot, but my GPA is a 3.8 and I try to network extensively. BB is not necessarily the immediate goal. I just want a position in banking, whether it be boutique, MM, or BB for the love of investments and the game that surrounds them.
Transferable for sure. Much of my work involved making profile sheets for target companies, rudimentary financial analysis (sans operational synergies), potential acquisition screening and data room maintenance. Tons of parallels. Also you should have time to play around with the more complex financial models and network in your free time.
Bump
Yes, as a rising junior an internship in corpdev will make for a great experience and will be very applicable for explaining why you want to do ib in interviews down the road. Continue to network extensively and still try to get an internship in ib for this summer if possible, but if that doesn't pan out, corpdev will make for a great opportunity.
Thank you very much for the reply. So you’re implying I should also try for an IB position for summer 2018, even if I have one lined up in Corp Dev? Is it possible to get analyst internships as a rising senior?
Getting an ib internship as a rising senior (summer 2019 in your case) should be your ultimate goal. With that in mind, an ib internship this summer would provide you with the most relevant experience, so working in banking this summer would trump working in corpdev. That being said, a lot of kids that obtain summer internships in banking as rising seniors (probably the vast majority) didn't work in banking before that, and corpdev is w/o a doubt a great experience to have. As long as you continue to network extensively and prep well for interviews you'll be fine.
I had a corp dev internship at an industrials conglomerate my post-sophomore summer. Was a great experience that gave me ample material for interviews and helped me land an offer (and prepped me for the internship and subsequent RO). From what I can tell, it really depends on the company and how much exposure they give their interns. The intern before me and the intern to follow me have all nailed down IBD roles.
Thanks for the reply! That gives me a great perspective for sure. This company is positioned globally, although not F500, they clear $400MM in revenue annually. The company is growing exponentially with three acquisitions in 2017 totalling $1.5B+. It is a very hot position in the company at the moment due to the company going public in 2014 and I feel like this would be extremely transferable to an M&A position at an IB.
Hey man I saw your message but I cannot reply yet because I am a new member ( 2 day waiting period).
Was your friend in the NYC office, and how recently was this? Do you think this applies to all the firm's subsidiaries (KBW, etc.) too?
How do I spin SA corp dev into SA IB? (Originally Posted: 02/09/2018)
Will be working as a corp dev SA this summer, as I wasn't able to lock down an IB SA spot. I've networked with individuals working in a closely-related coverage group at multiple banks...obviously want to reach out and let them know. How do I pack an email with a punch that stresses the value of this experience to position myself for an SA position next summer?
If you get to close a live deal definitely focus on that. Talk about how corp dev was too "slow paced" and you wanted to work on multiple different projects at once. Or after it was over say you felt to truly be effective in a corp dev role you feel it's necessary to do the banking analyst stint for learning experience etc
If you get a corp dev offer out of it might want to look into taking that. A lot of people end up leaving banking for corp dev anyway so do some networking and find out what you really want in the future
Also even if you don't work long hours, exaggerate and say you worked ~banking hours and can handle the work. A lot of the firms I interviewed with for FT were concerned that I would be able to handle the long hours given that I didn't have then long hour IB internship. Might be different for a SA but figured I'd add that
Thanks for the tips! You made some great points! I guess I was also wondering - because summer 2019 recruiting will supposedly be pushed even sooner - how I would go about mentioning that I'll be in this role, even though I haven't started it...I'm hoping that I'll be on their radar early if they know I'm going to be in this role for summer 2018.
Don't have much advice for that and don't know when the SA starts anymore. Just bring it up in your networking calls, mention that the director of your internship said you should be working on some live deals/be getting plenty of modeling experience and that you really want banking the following summer. Others can chime in but maybe just be honest and say you tried but couldn't break into banking and are hoping to hone your modeling skills/get deal exp and transition into banking the next summer.
Again, very helpful! Appreciate it!
Congrats on the offer. If you don't mind me asking, what company is this for? I am also a university student looking to get into Corp Dev but barely ever see any positions for Corp Dev SAs.
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Corporate Development Internship ---> IB Summer Analyst (Originally Posted: 01/16/2018)
I'm a sophomore at a non-target with a couple of internship offers with some family offices and a back office position return offer from last summer... I'm interviewing with corpdev positions and wanted to see if they were a legitimate way to transition into IB next summer. Any advice would be greatly appreciated.
https://www.investopedia.com/articles/professionals/100215/career-advic…
https://www.wallstreetoasis.com/forums/corporate-development-into-inves…
Value of a Corporate Development internship (Originally Posted: 11/01/2016)
Hi guys,
Quick question: how useful would a Corporate Development (M&A) internship be if one is about to start in IBD and will likely switch to PE after a few years?
Thanks
An IB internship will be much more valuable, but if that is not an option, a corporate development internship will certainly add some value. It will allow you to see the strategic side of the M&A negotiations and give you some helpful industry knowledge. I think the biggest takeaway, though, would be seeing what goes on inside a strategic company that is going through an M&A process. The switch has really been an eye-opener for me having come from IB.
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