Sophomore internship - F200 Corporate Development & Strategy vs Bloomberg Equity Research
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Bloomberg and network in the city, especially if you go to a target.
Do you think it's worth passing the opportunity to work with merger models and networking opportunities with bankers from BBs that advise this F200 company? I know that their past deals have all been advised by Citi/Barclays/Goldman/RBC and former interns have had 50/50 success at breaking into nyc banking for junior year.
Do you go to a target? If your GPA is a 3.7+, it doesn't matter what you do.
Would definitely go for corp dev. I did the same thing, and the experience helped me land a BB SA offer. The experience is much more relevant than ER. Additionally, it's a good talking point during interviews.
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Both internships are nice, but I would say CorpDev.
Bloomberg is a well-known brand, but the quality of Bloomberg Intelligence research is poor and is not viewed in a positive light amongst BBs, from personal experience.
Working with merger models is much more relevant, especially because you'll be able to network with bankers. I have a friend who worked in CorpDev for a summer, and was staffed on a deal, was able to interact with the BB bankers and ultimately landed a SA the following year.
Both internships are nice, but I would say CorpDev.
Bloomberg is a well-known brand, but the quality of Bloomberg Intelligence research is poor and is not viewed in a positive light amongst BBs, from personal experience.
Working with merger models is much more relevant, especially because you'll be able to network with bankers. I have a friend who worked in CorpDev for a summer, and was staffed on a deal, was able to interact with the BB bankers and ultimately landed a SA the following year.
I worked in ER at a BB in my Sophomore year and, luckily, landed IB SA at a BB this year, but think it would have been much easier (and I would have had more offers and/or success in my recruiting) had I done something relevant to transactions, M&A, etc.
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Any additional insights from current/former bankers would be really appreciated! Deadlines are coming up soon.
I'd recommend the CorpDev opportunity; it'll likely be more transferable to banking roles. The key thing is being able to wave together a coherent "why banking" story, and without any other info, the road through CorpDev makes more sense than through research (especially at Bloomberg).
You mentioned the CorpDev role is for a company well known to bankers in the sector. If you're interested in joining a coverage group for that same sector, that could be a great/memorable talking point
Definitely CD, likely interesting work and will give you a strong understanding of the market. Talk to your boss a little later in the summer and see if they'll put in a good word with their bankers. Odds are they'd be more than happy to because if you go on to do well then that just makes their intern program more marketable.
You say NR/Energy/P&U, are you going to be in Houston? If so, you can network with energy bankers the same as if you're in NYC (assuming your office is somewhat close to downtown). Is it O&G related or P&U?
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