Sophomore boutique internship
I am just curious, how much can a sophomore internship in a boutique investment banking help?
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are you referring to helping for IBD SA recruitment? It will definitely help you to stand out if your peers do not have much relevant experience. However, I feel that it is more crucial to meet the GPA cutoff first. After which it really boils down to your experience and extra curricular activities.
What is the ideal GPA? I can reach a 3.9 of course, is 3.7 acceptable?
What is the ideal GPA? I can reach a 3.9 of course, is 3.7 acceptable?
This will help significantly - depends on the experience you get though. If it's at a small no-name boutique where you are only updating comps, solely doing industry research, or business development/cold calling prospective clients, don't take it. If it's a typical junior Investment Banking role where you will get the opportunity to work on deals including financial modeling/valuation, working on CIMs, or even pitch books this will be good experience for you. If you're a sophomore, make sure you get the financial modeling & valuation skills down. If you can put these skills to practical use your sophomore year summer, this will set you up for more competitive internships for junior year. Take Wall Street Prep, Breaking into Wall Street, Training the Street, or/and Investment Banking Institute.
Sophomore Boutique Experience (Originally Posted: 06/14/2012)
I am a rising junior at a large non-target (think Penn State, U of Maryland, Illinois) and I am interning with a boutique investment bank this summer.
Currently I am working on 4 live deals, performing due diligence on industry M&A activity, researching potential markets in Asia, and contributing to two articles that will be published and sent out to all of the bank's contacts.
Keep in mind that 3 out of 4 of these deals are under $50mm and I do not think I will get much modeling experience. For the most part I work on pitch books, comparable company analyses, teasers, etc. Also, the bank has under 10 employees and is relatively unknown.
How valuable will my experience be when recruiting for BB SA positions? Will the lack of modeling experience and small deal size affect my chances?
Any advice from the more experienced monkeys would be greatly appreciated. Thank you in advance.
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The internship shows that your interested in investment banking which is a good thing, but modeling for an investment banking internship "legitimizes" it so to speak. If there isn't any modeling, it likely isn't a paid internship and it's kind of just a research/administrative internship. I'd like to hear from others as well, but I actually know a kid who didn't get into a BB this year for junior summer after a boutique investment banking internship which was kind of like that (without modeling, unpaid, unknown firm) and I know a few others who broke in from F500 and even BB PWM so who knows
Could you provide a little more info on the kid who didn't break in? Is he from a non-target? Did he know all his alumni on Wall Street?
And by insanely easy I mean no barriers to entry in terms of qualifications, similarly to PWM, getting a boutique I banking internship is pretty random as well. Oh yeah, and since we're at a non target, we don't have too many alum to talk to
OP, you and I come from an identical background and are in the same boat...we're both itching for more modeling. Fellow classmates and monkeys here all have said modeling skills are a big plus. I don't know how your execs are but mine are all great to work with and are eager to make my experience rewarding and help me in the future. My advice, is the same advice I will be following myself: Take the initiative. Ask if they can forward you a model they are working on, or if you can take a look at one to play around with. You said you're doing M&A work, so read up and then hopefully you'll get the hands on experience. Best of luck.
My MD is pretty nice, but I don't think my "experience" is a priority for him. However I have access to almost any document, so I will probably start dissecting the past models. Not sure if you agree with me, but I think there is value in our internships even without modeling experience. I have learned a lot more about the deal process and from what I have heard, putting together documents like pitchbooks is a major part of the job.
Does anyone else with experience have input? Thank you in advance.
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