Take BB Middle Office or Keep Looking for Boutique? (Sophomore Internship)

LAThrowaway's picture
Rank: Chimp | 4

Hey guys,

I am currently a sophomore at Stern interested in pursuing a career in IB looking for something to do this spring/summer before junior recruiting starts. I recently got an offer for a middle office position for a top BB (one of GS/JP/MS) for the rest of this semester and all of the summer. I have seen many threads before about a BB BO/MO internship vs. IB at a small boutique, and I definitely think that working at a boutique IB has many advantages before heading into recruiting, but there are a few differences about the position I'm currently in that leave me unsure of what to do.

1) I don't have an internship at a boutique lined up right now. I have been cold emailing any boutiques I can find from all of those lists compiled over the years, and have not had any success. I'm not really choosing between internships, I'm choosing between taking a non-IB position now vs. continuing the search for experience at a boutique.

2) A lot of sophomores at Stern that are going into banking have IB related experience at boutiques. This is important to me because I'm not sure if doing a non-IB internship will put me at a disadvantage because everyone else around me is doing an IB internship, or if it could be an advantage because the name of the firm is recognizable and I'm not just another kid working at a boutique.

Appreciate all the help!

Comments (8)

Feb 21, 2016

I may be off here, but honestly a MO at MS/GS/JP would be outstanding for a sophomore internship. You can then try to grab a part-time internship at a boutique in the Fall/Spring (I've seen quite a few Sterns on linkedin take these off-cycles, seems like it's pretty doable in NYC). If you have an expiring offer I say take it and run with it.

Feb 21, 2016

This is good advice. +1

Feb 21, 2016

Thanks for the advice! Sounds like a plan. Didn't think about the possibility that I could just take an internship in the Fall at a boutique (that way the MO role won't be the last thing I do on my resume).

Feb 21, 2016

^ Do this. Also, make friends with the kids who are juniors and ask them if they can put you in touch with the boutique banks.

Feb 21, 2016

I'd guess that most boutiques won't be interested in a sophomore. Take the MO role.

Feb 21, 2016

I think that if I keep reaching out to boutiques I would eventually land an internship with one of them. A lot of my peers (with similar grades and work experiences) have had success reaching out, so I'm just worried that they would be many steps ahead of me if I were to take this MO role.

Feb 22, 2016
LAThrowaway:

I think that if I keep reaching out to boutiques I would eventually land an internship with one of them. A lot of my peers (with similar grades and work experiences) have had success reaching out, so I'm just worried that they would be many steps ahead of me if I were to take this MO role.

Maybe, but a bird in hand...

Very few kids have IB experience prior to junior year. You won't be behind. Also, use this opportunity to network with S&T if that is of interest to you.

Feb 21, 2016
Comment