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April 30, 2024
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Are you a intern out of undergrad? What do other junior ranking people do at the firm (including analysts and associates)? When you say sourcing, what do you mean task wise? Regardless, you're an intern. You're doing it for exposure (to see what actually happens in PE and what other people do. You’re gaining transaction exposure by being there in the first place) and they're doing it to evaluate you for future hire but more importantly get cheap labor for grunt work. I'd give it time.
Thanks for the response. I’m a junior in undergrad. I don’t know what other analyst/associates do because I technically didn’t even start yet, I do on Monday. Although they must be doing a lot of M&A because the firm has made 10 acquisitions in the past 12 months. But they gave me an assignment already which is to go through previously evaluated companies and assess whether or not this firm would acquire them, and why or why not based on a set of criteria. I am still very excited, I am just hoping that if I do well on these assignments I will gain more responsibility over time
You haven't even started and you're already complaining about the tasks you've been assigned?
Not complaining, I am just wondering if that’s how an internship program is usually structured. I want to work on things that are important and gain skills that are transferable and experiences I can talk about in interviews
You would be surprised how useful sourcing skill are when it comes to transferable skills and experiences that you can talk about in interviews. The ability to find companies that correctly fit the investment thesis of your firm our highly valuable, especially at more boutique firms. Please take this as constructive criticism rather than hate, but I suggest you just focus on sourcing the best you can. In your current role as an intern, the more time that you can save for your higher-ups, the better. Focus right now on sourcing the best you can, and making zero mistakes. I am sure as you get more involved in your role that you will gain more experience on deal-related material. But for now, just do what you are told to the best of your ability.
Ok thank you
Just want to add that my first few months of a PE internship were primarily sourcing. What more seniors at the firm later told me was that they were trying to analyze my work ethic, and make sure that I approached the tasks with the correct mind set. A lot of work done in PE doesn't take a lot of skill, rather it takes a person with the ability to work on several workstreams at once while performing at 100%. Your first few weeks will definitely be tough, but they set the foundation of how you will work for the rest of your life. Take them very seriously, and you will be successful.
I appreciate the insight. My internship is currently for the fall session, but do you think if I receive a return offer the summer or even have the chance to go FT (23’ grad) is it expected that I take on different/new responsibilities like in your situation? Or have you seen people get locked into sourcing? I have no problem doing that kind of work if there is light at the end of the tunnel. And is this something that is appropriate to bring up?
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