I'm looking at internships and I may possibly get one with a HF. They said they will not hire me full-time. I know this to be 100% for two reasons:
1. They said so.
2. I'm a soph anyways.
My question is will this boost my chances of internships for junior year when it counts? Specifically PE, but IBD as well?
i think it gives you more interview experience going into next year, but it's useless to go into next year's interviews and mention how you almost got an internship at a hedge fund. they won't care. it's possible that you'll have a better chance getting an offer from that company next year, but i doubt that anywhere else will care.
I'm sorry I worded it poorly. I meant to say that I would get the internship, but not the job offer.
Yes, this it will absolutely help your chances of getting stronger internships as a Jr.
oh sorry, i guess i misread. yea, a HF internship will really help you for next year.
I'm sure it will help me get internships, but I was asking specifically if it would help me get stronger or better ones. It wouldn't be a very structured,program-like internship.
I'm basically asking how it is compared it to say a structured ID analyst program. I do prefer buy-side, but I'm not sure how far the words "hedge fund" can really take me.
Look at it this way, if you don't take this HF internship what will you do instead that would make you more marketable? The fact that it's not structured or on the buy-side won't hurt you. Learn as much as you can and be able to speak well about what you did over the summer. IB SA interviewers will be impressed by a Sophomore HF internship, as most Sophomores don't even land relevant internships
Learn as much as you can, but if there is something I've learned in going through junior SA interviews, having a big name your soph year on your resume can help tons.
If the HF is your only option, go for it, but great alternatives would include working at a top F500 company. I worked a top (think top 5) company from May till now, and got interviews at a few top BBs and boutiques. I'm set to do several final rounds ranging from MMs, top boutqiues and BBs. They don't care if you weren't pitching books or doing modeling, but if you can show that you developed relevant skills along the way, then you are just as competitive for the most part. Additionally, my company's reputation was almost a freebie in the interviews, as interviewers just saw the name, said it was kinda impressive, and just went straight to the fit/tech questions. Hell I could have been the coffee guy and they wouldn't have asked about it, well they would....but the point is that a single brand name can do a lot for you.
my 0.02 - ps i'm still in college
It may not give you direct relevant experience to IB but it shows pre-selection. For example if you interned at Mckinsey as a junior, even if you went to a non-target, I can guarantee you would get at least 3-4 BB interviews. In the same way, if you can show that you were able to convince a HF that you were smart/motivated/talented enough to hire you, then that speaks volumes in the eyes of recruiters. Just a thought.
I appreciate the responses. Definitely clears things up. I'm hoping to possibly get an internship with Fidelity, and compared to a HF, would the Fidelity name hold more weight? I do want to do buy-side, but trying to be realistic coming out of ugrad.
Depends on the hedge fund/name and the type of work you'd be doing at both places. Fidelity is a good name, but if your doing operations, it may be harder to spin it towards IB.
Figure out what you'll be doing there, and then decide how much responsibility/learning you'll get. The trade off of having a smaller name, is that you may be able to have a better experience there, which IF you can discuss in an interview (and impress them), then you are fine as well. But sadly, resumes often only get 10-20 seconds, so the bigger name can sometimes make a huge difference - which is where networking comes in and can make a huge difference.
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