Dual internships. Conflict of interest?

Rumple4skin's picture
Rank: Gorilla | 606

I'm currently a sophomore at a non-target with a 3.8 GPA and prior internship experience on an algo trading desk at a fintech company in NYC. My goal is to ultimately land a junior-year SA role in BB IBD.

I have been fortunate enough to have opportunities at both BB PWM (not in a regional office) and a boutique IB in Pennsylvania. The PWM opportunity is a 10-week program beginning in February. I will not have class two days a week next semester (I'm pretty ahead in terms of course credits), so I will be coming into the office on those two days from 9 to 5. The investment bank would like me to do remote work during the academic year and then relocate to Pennsylvania for the summer.

My question is, are there any potential conflicts of interest arising from doing work for both groups over the spring semester? Is it absolutely necessary for me to notify either one that I am also doing work for another company?

Would really appreciate some guidance on this. Thanks in advance.

Comments (29)

Nov 22, 2016

Yes, this is a conflict of interest. Easy solution would be to try to get out of the remote work part of the IB internship. Not sure how the remote work part of your internship came about, maybe you can say your coursework / job will take up more time than expected. Otherwise you definitely need to at least inform both firms.

Nov 22, 2016

I was not too keen on working remotely for that reason, but one of the partners at the boutique seems to have a project that I would be good for. As I see it, my options are A) choose not to work remotely on the partner's project and risk losing the opportunity to summer at the boutique, and B) tell neither firm and risk the consequences.

Nov 22, 2016

Even if you tell neither, you will get asked about this (and probably dinged for it) in every subsequent interview.

    • 1
Nov 22, 2016

Just do the boutique IB.

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Nov 22, 2016

I'm also thinking about doing two part-time PWM internships this summer, my thought process is that the second one will help fill up my resume, anyone have any thoughts on this?

Nov 22, 2016

I'd say it's always better to be open and honest than to be found out later. Besides, BBs always love a little healthy competition. They probably will like it that you're being sought out by another BB.

Nov 22, 2016

Thanks for your answer...would love to hear if anyone else agrees/disagrees. I want to get this taken care of with HR (if necessary) by the end of the week.

Nov 22, 2016

bump

Nov 22, 2016

Hasn't your HR asked you about that already? I was asked whether or not I would be doing internship elsewhere. She said my answer wouldn't affect me in any way.

Nov 22, 2016

I second corporatechic's reply. Disclose it, they probably wouldn't mind

Nov 22, 2016

Go for it. You'll likely have to clear it with each firm as they'll have confidentiality agreements, etc.

Nov 22, 2016

I'm concerned that this is unethical/illegal as I know the firewall is a big deal at major BBs...

Nov 22, 2016

Correct, control room won't allow it. And it's "info walls" not firewall.

Nov 22, 2016

Another thing to consider is your answer when it comes up in interviews. Often times, the person on the other side of the table may discount the legitimacy of both internships because IB work in itself is not a "part-time job."

    • 1
Nov 22, 2016

Not illegal, but you will probably need to disclose it to both firms. If they hired you as part-time, generally they're okay with you taking on other positions.

Nov 22, 2016

Curious also

Nov 22, 2016

thank for the bump pang.

Nov 22, 2016

not using the search function is frowned upon.

Nov 22, 2016
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Nov 22, 2016