Freshman Summer: IB vs. Hedge Fund Internship

TO CLARIFY: I HAVE ALREADY INTERVIEWED AND RECEIVED OFFERS FROM BOTH.

I'm currently a freshman at a non-target (I might graduate a year early, so technically I could be classified as a sophomore). This summer, I'm considering interning at either a boutique IB (20-200mm deal size) or a small hedge fund (5-25mm under management). Of course, I'm probably going to do a 2-3 year IB analyst stint after graduation, then possibly transition to the buy-side/bschool/etc.

Which option would you choose, and why?

Also, should I consider attending LSE Summer School the latter half of the summer, if my employer allows, or should I intern the entire summer? (This option would include 8 weeks internship, 6 weeks LSE.)

Comments (11)

Mar 23, 2011

comeback when you get offers from both

Mar 23, 2011

There is practically no way you have offers as freshman from a non-target. That or you have legendary networking skills.

Mar 23, 2011

5-25mm hedge fund is nothing. that's like managing a liquor store

go with the bank

keep your head down and learn a lot

good luck

Mar 24, 2011

Well the HF could be a good opportunity if you are smart and the PM is competent. Assuming it's a 1-2 man shop with 20 mm under management, they could bring in 1+ million in a decent year based on a 2/20 fee structure. If you're willing to wear many hats and help the fund grow to 50+ mm, it could be a good entrepreneurial opportunity and you wouldn't have to go through this banking bullshit. Having 10 mm under management as a 22 year old is not a bad proposition if you have skills and believe in them.

Mar 24, 2011

I suggest you to apply for both decide upon rather than pondering on which one to go for

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Mar 24, 2011

To clarify, I have already interviewed and received offers from both.

Also, should I consider attending LSE Summer School the latter half of the summer, if my employer allows, or should I intern the entire summer?

Mar 24, 2011

Both are great offers for a freshman so do whatever you are more interested in. If you can get these offers now you probably wont have much trouble landing an analyst gig when you graduate.

Personally, I would take the hedge fund job so I could have a life. Make sure you enjoy some of your summer.

Mar 24, 2011

Go with the bank for sure, and fuck summer school.

Mar 24, 2011

Agree with HFFBALL, as usual

If I had asked people what they wanted, they would have said faster horses - Henry Ford

Mar 24, 2011

Do you go to Northeastern?

Mar 25, 2011
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