so recently i got offered a position as an "Assistant Financial Analyst" at this small investment advisory firm located in the same town at my university (target). it sounds like your typical PWM internship: "managing client account statements and working with our portfolio management and reporting system as well as creating supporting analyses which provide data that is included in performance reports", "we would also want the analyst to provide preparation support on client income tax returns and tax plans"
i already did an internship at Morningstar, where they liked me so much they had me stick around since June until my last day which was last Friday. would this podunk investment advisory firm be considered a "downgrade" on my resume from a major investment research firm like Morningstar, or will the extra finance experience be beneficial to my case in finding an equity research/investment banking summer internship as a sophomore?
thanks
oh by the way this job is for immediate hire, id be working through the school year
I say it couldn't hurt. Any finance job to add to your resume will be beneficial. No recruiter is going to say, oh, this kid went from Morningstar to a smaller PWM-type firm, therefore we won't hire him. If your schedule allow and you think it would be interesting, go for it!
Going from research based work to PWM would show that you can apply the skills you learned at Morningstar. Also, sometimes at smaller firms you can have more responsibility - and working during the school year - would only be looked upon favorly as long as you don't sacrifice grades.
i'd definately do it if i were you.
Honestly, as a sophomore you should really take any internship you can get if it is during the school year. You'll want to focus in on key names and positions next year, but for now, this job will certainly give you a boost. I find it hard to believe someone is going to think you "down-graded" and actually hold it against you. The truth is, each company is unique in such a way that you'll learn a different set of skills working for two different firms even if they were in the same position. My vote is, go for it.
As others have said, any finance experience at this point is a good thing. I would be a bit reluctant to take this as a summer internship if you've already worked at Morningstar and you may want to push back if they try to extend this into the summer, as it could be seen as a potential "downgrade."
I think you should be able to leverage your previous internship and this new one to get a much better position for the summer, so there's not too great a chance of this happening, but nevertheless just something to watch out for.
Worst case scenario: You take the job and either:
(a) it sucks (b) it interferes with your schoolwork / freetime too much
Then all you have to do is say "I'm out" and wipe your hands clean, and pick up a paycheck stub or two. I doubt these guys have any major connections to banks, but if they do, I'd watch how I exited for sure.
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