I have offers for 2 off cycle internships at boutiques in Chicago. I have zero prior IBD experience, worked at a search fund FT, and a small M&A advisory shop Part time (simultaneously over the past summer). I am now working at a larger search fund looking to transition to a more conventional PE firm or holding co.
Goal is EB/BB for next summer, have had one interview at a top BB but it is looking unlikely (still in the process)
Option 1: Title: IB Analyst Intern Most deals fall between 50-150 MM Management: very smart guys, founders worked at one of the tops IBs in Chicago (Moelis/HL/WB/Lincoln). Exposure to deals: Not sure how much work Ill get staffed on. From what I gather, Ill get more responsibility the better and harder I work (typical, I know). Friend seems to have done a lot of mundane stuff (I am an intern I know this is what Im there for) Deal closure: unknown, going to ask a friend/past intern for his best guess Brand Name: I think this is significantly better, despite being smaller and working on smaller deals. The individual's who work here have very impressive pedigrees. Description: N/A, not as much of a structured program
Option 2: Title: Analyst Intern (technically it's valuation, but the position description says both Val Advisory & IB exposure, no one in the firm technically does one or the other, exception being VPs/MDs possibility) Firm says MM, mostly smaller businesses but a couple multi-billion $ clients from what an associate told me. Description: building pitch books, industry research reports, public comps work, etc. Seems to be quite hands on, and a great op for an intern. Management: really liked the team, and everyone I spoke with. Super inviting, and just all around awesome guys. Retention: could continue to intern until I grad (off cycle Nov 2018) Perks: there is a long-term possibility and they close roughly 4-5 deals per office (average)
My goal: Working in IB has always been my goal. As of late Ive considered Transaction Advisory Services / MGMT Consulting too (just trying to look into everything), but always dreamed of IB.
If anyone wants to know specifics, I would be happy to PM bank names for those looking to offer further guidance. Thank you everyone for reading, SBs to all who offer advice!
What year are you? Also what you do you mean by you have zero IB experience but worked at an M&A advisory firm? Don't sell yourself short.
Feel free to PM me and I'll tell you if I recognize the names.
Thank you, PM'ed!
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