PE at a Canadian Pension Plan or M&A at Big Four for Junior Internship
I'm currently a junior at a Canadian university. Tried recruiting for some of the BBs that operate here and got a few last rounds but didn't get an offer. I then received an offer with one of the big Canadian pension plan, for international private equity.
The thing is they don't really recruit directly from undergrad and while I'm sure it'll help me get a lot of contacts at the different banks which should help with recruiting I'm unsure about whether I should have tried for the Canadian banks.
I have now been approached by a friend at one of the big four looking for an intern on the deal team.
Since I'll most likely have to recruit for investment banking next year, which one would be better? I'm guessing the modelling experience will be better at the big four but I've already accepted the other offer and still think it should open some doors.
Does anyone have any advice for me?
Hmm this is a tough one. Congrats on the offers. I would go for the PE internship. Network during your internship with people at Canadian banks and try again next year.
Does the Canadian pension plan invest directly, or is it an indirect or secondaries strategy?
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Got it. I'd agree with tz15 and work at the Canadian pension. You'll get solid investing experience.
I've known several guys with awesome careers from Canadian pensions.
Also, depending on what your goals are, I think staying at the pension or going directly into PE could be more attractive than working at an investment bank. Better hours... real investing experience... get to see lots of different kinds of deals... more analysis and no pitchbook work... Depends on which pension fund you're talking about of course as underwriting funds is much less interesting than doing direct deals.
I would go with the PE internship. Met a few people go from PE to Canadian pension funds, and students that go from pension fund to PE/HF right out of school. If you're interested in the buy-side after banking, that's the way to go.
^ agree strongly with this. Canadian pension funds are generally the most respected.
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