get out while I still can?

I just started working yesterday at my internship at a really small boutique that offers research and banking ( if any banking deals actually come to them). So I primarily do equity research, and also get a chance to do an IPO this summer. Because this firm is so small, chinese wall rules do not apply.

A lot of strange things are happening though.

Office politics and technical problems on day one. OK maybe it was just a bad day.

I work mostly with the research analyst except he always shows up late, and the rest of the firm complains. Maybe he just likes to work at home though.

He was blocked over the phone so he couldn't ask questions during an earnings call. Maybe because this is such a small company.

He only covers 3 stocks officially. He follows many others but tells me he won't initiate them. Understandable since its just me, the intern, and him so workload can get heavy. Except he goes against the street on all of them. And not just a tiny bit, but extremely deviating from consensus. Is he a contrarian style analyst maybe?

He seems to be very technologically illiterate. barely knows howto use a PC, weak excel. perhaps due to the different times we were raised.

Apparently doesn't get a salary. He gets paid based on how much research gets sold. Makes sense for a small firm I guess.

Extremely slow speech. I mean VERY slow, enough to annoy you and never want to talk/listen to him. But I hear research analysts are usually on the weird side anyway since they have to study their stocks so deeply. But I really cant understand him over the phone sometimes, nor can any of my friends I showed his voicemail to.

but here's the big one. He gets sued a lot. for personal reasons and work related. wtf?

He has worked at other pretty sizable firms before, even a BB, but I guess he just lost his steam from those years and ended up with this bad gig.

So is this weird? I wasn't expecting a huge office and to be killing fish on day one but i just feel uneasy about working here. is this just how crappy it gets when you're only a little, no-name analyst.

Should I try to find another internship? the guy said he would be OK if I did it part-time. Or maybe I could try to work for the other analysts who seems more normal and actually get paid.

Or should I just stay. I'm only a sophomore with IBD and VC experience from before. Nobody hiring me in the future has to know how slow this place is right?

Or is this just how it is for small research analysts.

 

Just work part-time and use the extra time to network and find another internship (maybe at the previous IBD or VS firm?). try to work with another analyst who actually gets paid.

If you are uncomfortable with something don't do it and yes that goes for ibanking too. This guy sounds sketchy and probably won't be there too long.

fuck there are some shady stories on WSO.

 

In my way of thinking, this is a huge victory: the guy won't care what you put on your resume and it seems you'll have plenty of spare time to look for other jobs. If you get a better offer, then jump on it.

As far as technology, once you move from BB / MM firms, it's totally hit or miss: one small place I interned at literally reinvented its programming every few months, but another place kept all accounting and brokerage accounts in a primitive ass old Unix server.

Get busy living
 

No offense Couchy but you are only a sophomore and this might be what - perhaps your second walk around the park? I think you need to suck it up and stick it out at your job. Good candidates succeed when they are placed in good situations. Great candidates can succeed and excel even in spite of bad circumstances because of a positive attitude.

If I am understanding you correctly, you are unsatisfied because of this firm's politics, technical frustrations, and unlikeable co-workers. Guess what? This is a problem at virtually any professional environment whether you are working at a buldge bracket investment bank or a niche asset manager. If you can't develop a winning attitude then I worry for you because you probably won't be able to withstand the hours and abrasive demands of IB (which honestly is a lot worse than a slow-talking analyst). Lastly, did you do the proper due diligence on this firm before you started? If not, don't you have yourself to blame (and you are putting the firm at risk for hiring an intern and suddenly see this intern quit for frivolous reasons)?

My honest and true advice to you is to keep at it and continue with an open mind. Rome wasn't built in one day and your two-day stint at this shop isn't representative of what your overall experience will be. Take the time to understand your colleagues - for all you know, this slow-talking analyst could be brilliant and prove the street wrong one day. And also realize that you, yourself, maintain a personal brand, an image, and a reputation. Although you are only a sophomore, there is a certain integrity you must carry. That includes not quitting on a firm (two days into the internship) because you don't like the culture. No one likes a quitter and your own personal brand is at stake. Even if no one ever finds out that you quit through these circumstances, I truly believe that adversity makes you a stronger individual. Keep an open mind and try to learn a lot. Unless there is something truly unethical going on, just keep your head up and be the very best you can be.

I know there were a lot of trite adages in the paragraph above but I do feel strongly about this issue. I used to hire, manage and interact with dozens of interns at my old job. If there is one thing I absolutely abhor, it is the sense of entitlement an intern has. It doesn't matter how smart or accomplished he/she is, the most important thing is a positive attitude and a sense of work ethics. I have fired smart interns for feeling entitled and feeling that they were somehow "above the work" when we didn't owe them anything. You can't teach passion and the best interns were always the ones who were willing to work hard even if it meant digging in the trenches. It is a two-way street. If you want the firm's respect, you will have to show respect and earn it with a great attitude.

My two cents.

 

I completely agree with Vancouver Canuck (even though I'm calling Boston in 7). To paraphrase every senior leader at my firm that I have listened to in town halls/brown bags/etc. "always perform to the best of your ability no matter how dull the task at hand, or how seemingly unattractive your current function is, in the end it will all work out and you will learn something from that experience". Who knows, maybe its their way of convincing us lower level folk to work our balls off doing shit we don't want to do, but maybe not.

Everything is relative, you are in luck that you have this as a sophomore internship. My national guard unit sent my ass to a much less enjoyable place during my sophomore summer then a research office. Keep this internship, and do your best, it will go by quicker than you think, and I'm sure you will come out at least knowing what you like and what you don't about that particular environment so that next time you can tailor your internship search based on your preference.

No one likes quitters.

 
Best Response

Nihil quasi sunt commodi. Incidunt ab quasi facilis et aut doloremque. Ut cupiditate quia placeat quas quibusdam non. Odit voluptas aut incidunt explicabo nostrum.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
numi's picture
numi
98.8
10
Kenny_Powers_CFA's picture
Kenny_Powers_CFA
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”