Hey guys,
just wondering,
because I am a sophomore I can't get a bulge bracket IB SA internship, and so someone I recently talked to said that I should try to get a wealth management or local hedgefund for the summer. How would I go about searching for positions online like this, since the names are less known? would it be something like "summer internship wealth management in connecticut?" Not sure.
Thanks in advance,
future ibanker
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Hi there. So yes the local Wealth management or asset management internship would definitely give you good experience to recruit for Junior year SA next year. However, most of these places will not have positions posted online as they usually do not have formal programs (and if they do, they probably have already started/completed recruitment). Instead, the way to get internships at these shops would be to find the names of the shop (tons of lists online or try just googling "asset management" "Wealth management" etc. "near me" on google. Once you found the name of the shop, you'll need to reach out to them in a networking/job searching way. Email them and tell them about your interest in their industry and ask to speak with them. Hopefully, if the talk goes well they'll bring up that they could use some interns, or if not, follow up politely suggesting it. Theres guides/posts online about how to go about doing this but this should give you somewhere to start.
Do you think this would work as a freshman? Like what is the likelihood of a freshman getting an AM or PWM internship?
I think the OP said he was a Sophomore. Regardless, still definitely possible as a Freshman, personally know people who have done it - places always need people to cold call and do other administrative work. Obviously would need to impress them when talking with them and show you'd be cool to work with and not a burden.
Ok thanks. That really helps clear things up. Appreciate it.
You can also try to search LinkedIn with your state and desired industry. Something like "state" "investment banking". It's not the perfect way to search because it will return individuals that may have worked in the state in the past or went to school in the state, but still helpful.
Local Internships (Originally Posted: 05/25/2007)
I am assuming that all of the bb's have finished recruitment by now, considering most of the programs should start in a couple weeks. However, would it be wise to give my local branch a call and see if they are looking for interns? I didn't even know we had a regional branch near my home.
Don't expect a position, but you can give it a shot. If anything, you'll get an unpaid internship.
I'm sorry, but your statement is not accurate. The Quadruple major I referred to in my post above received the entire summer's worth of pay. By the way, this was for GS' TMT group based out of NYC.
God love quadruple majors from targets, they walk on water.
I heard of a guy getting an internship for the summer in August, he showed up for the last week and got a FT offer.
Of course, he was a quadruple major from a target.
True story, IM me for details.
I don't know where you're located, but if you can't find anything you can always do an internship in PWM at any local branch - it will be unpaid probably, but it's something to put on your resume.
but what is PWM?
private wealth management
yea, I found a MS and ML near me and will definitely give them a call come monday. What would be an appropriate way to ask?
Bryan1, your example is just an exception. Most people wouldn't fit that category. The OP is asking about local branches in particular, and everyone I know who got unofficial internships at UBS and ML (freshmen) in NJ were unpaid. I say my statement is accurate, just not 100%.
yea, I wouldn't mind at all doing an unpaid internship at the local branch. Would I just call them up and ask them if they are looking for unpaid summer interns? or does that sound a little desperate. of course at this point I am.
Thats exactly what I did, I just called and said that I wanted to do an internship and I heard sometimes they offered them. They stressed that they weren't paid, then I had a fit interview. A lot of people will say they aren't prestigious and I have no clue. But I do know I am learning a lot, networking, and figuring out how the industry works. Plus the guys on my team are cool, and they want me to have fun with the summer and told me if I need off whenever its cool. So either way its better than what all my other friends are doing working at the pool or spreading mulch.
It can't hurt to ask, can it?
A buddy of mine walked into the local Merrill Lynch office with his resume about a month ago, got an interview, and ended up with a job paying $15/hr.
Good luck.
So honestly I've received conflicted advice about this, but my gut tells me it's much better to be direct and tell them that you're looking for a summer internship, especially if they've hired summer interns from your school before
Local HF/PE summer internship (Originally Posted: 12/15/2016)
Hey all,
I am a freshman at a semi/non-target looking for an internship at a local hedge fund or private equity firm this summer. Any advice for going about cold-emailing/calling these firms? Most of these are pretty small funds (under $100mm AUM) and they don't have a "careers" section or internship posting. I am looking for an unpaid position (any way to leverage that?) to gain some experience.
Thanks!
bump
Non-Paid Internship at Local HF in its Infancy? (Originally Posted: 03/16/2009)
Would anyone ever do a non-paid internship at a local hedge fund that was recently started? Would this even look credible on a resume?
Any reasons why I should consider this?
Alright thanks guys! That helps a lot. Thanks so much for the advice.
I did one.
I can tell you this though...it will look good if you have a high gpa already along with a couple other ECs.
At least that internship helped me to grab a lot interviews
Why wouldn't you consider it if you've got no other options? You could spin some of what you did there into good resume material.
Yes, could definitely look good. And who knows, maybe the fund will explode and you'll be positioned for a major payday
Well are the principals and GP legit?
Maybe I am just really ignorant, but what are the principals and GP?
The fund manager has a very credible background, if thats what you are asking?
principals = MDs or VPs, GP = general partner (SMD or head of a desk)
so young so naive.
which adage to follow?
work to learn not to earn
or
the honor's in the dollar.
The world has changed. And we must change with it.
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