Interning for a family company right now. Any problems in the future?
Hi all,
As the topic states, I am interning for a company that is owned by my father. I am a rising junior at a target school and plan on recruiting for Investment Banking internships in the fall.
My questions regarding recruiting is:
- Will I be at a disadvantage when interviewing for these IB positions because I am interning for a company that is owned and operated by someone in my family?
Thank you all in advance!
No. They have no way of knowing.
If you Google the company online, it lists my father as the President and Owner of the company. Is it unlikely that interviewers will look up the company if it is not well known?
It would only come up during a background check (at which point, it doesn't matter), and not the interview process--unless they asked you "how'd you get that internship?".
To which he would respond "networking"
They won't google the company you worked for. The third party background check company will only call on the telephone number you provided to get confirmation you worked there between 'insert date' and 'insert date', in 'this role', that is all.
Can the family business become a client of a bank?
IMO a family business isn't a bad thing or something to hide. If it ever were to come up just say that you wanted to get a feel for how the family business runs if you ever decide that you want to do that and if it's a decent sized business, you got to see how a company runs on a day to day basis at a senior level when you were in college. That's good experience. And it's not odd for parents to want their kids to take over a business but get a few years of outside experience first, especially in IB, consulting, an F500 or another field where the kids can bring some outside experience and expertise. And since those jobs don't count on fresh grads staying forever it's not going to disqualify you because you may return to the family business in your late 20's.
I don't foresee the business becoming a client anywhere in the near future. However, you do bring up a good point about getting insight while at a more senior level. Thank you for the comment!
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