Intern: GE Capital vs BAML/WF Corp Bank

I would definitely go with the BB Commercial banking internship. Aside from having an IBD SA for junior year, the next best thing you can pretty much do is Corp Banking / Commercial Banking (with the exception of top consulting or PE) as it would be highly relevant and transferable for IBD recruiting.

I currently work in CB...did not apply for IBD out of school as I knew the hours/lifestyle were not for me but still wanted to develop a solid skill set in financial statement analysis, looking at companies/industries, and working in a transactional based environment. I have worked with/trained summer interns and have participated in the SA interview process as well so hopefully can address some of your questions.

As an intern you will be working on: 1. spreading financial statements into proprietary bank software 2. assign companies risk ratings using bank platform 3. write quarterly financial/operating performance reviews 4. calculate financial covenants to ensure borrower is in compliance w. quantitative clients 5. receive on the job credit training from your group 6. be looped into live deals and help out with some of the analysis (depends on how good you are and how good your group is about letting the new guy take a shot/test his skills).

If you do a decent job you will get a return offer but it will most likely explode before you can interview with ibanks for FT unless you go through accelerated process.

However, having an experinence like this on your resume junior year will definitely give you a very solid skill set and will be a great learning opportunity. Also this is a real internship where you do real work as opposed to some of the BS excel datadump projects you do in corp finance. Both BAML and WF have very structured programs and you will have solid networking opportunities and exposure to senior leaders in the commercial bank.

Word of caution: networking opportunities for IBD is what you make of it. Depending where you are located, there may be no IBD group to network with in person....if that is the case you will need to email alumni in bank that work in IBD and setup some informational calls/etc. If you are in a region where the bank has IBD that will be very helpful as you can set up in-person meetings and hopefully network your way to a FT interview next fall.

Regardless both of these are very solid opportunities and I would go with it over GE capital. Middle market at BAML and WF is going to have some clients with revenues > $1B so it will be a solid opportunity and very easy to spin the experience/craft your story as why you want IBD.

As for BAML vs. WF here are a few thoughts 1. If you think there is a chance you will accept FT offer, pick the bank and group you prefer to start in. 2. WF is a generalist position so you will be exposed to a greater variety of clients. 3. baml is very specialized but will also gives you great experience if you have an interest in health care and for targeting healthcare IBD. 4. Both programs will look equally strong on your resume and prestige is the same. 5. Don't take any of these internships based on your ability to get into IB within the same bank...I would take the NYC office for sure and network with IBD there. Also it will give you the opportunity to network with people from other banks as well.

Let me know if you have any more questions.