Too many IBD internships – is it bad for the CV?

Hi guys,

Just wanted to ask - would having three IB internship experiences look bad on your CV, especially when aiming for IBD Summer Analyst positions (in London)? I'm currently doing a gap year in my home country after finishing my undergraduate degree somewhere in continental Europe, and will be doing my 3rd IBD internship this year. I'm doing this gap year before joining a top tier Masters in Finance and have done two internships at two separate multinational banks (e.g. SocGen, HSBC, etc.) and now another one at an EB (e.g. Lazard, Rothschild, etc.).

I am aiming for BB SA positions in London upon finishing my Masters but I was worried whether having 'too many' IB internships would make my CV look rather boring, or somehow be seen as negative.. I do have legitimate reasons for why I did three internships at different banks (diff. industry / geography focus per bank).

Many thanks in advance!

WSO Elite Modeling Package

  • 6 courses to mastery: Excel, Financial Statement, LBO, M&A, Valuation and DCF
  • Elite instructors from top BB investment banks and private equity megafunds
  • Includes Company DB + Video Library Access (1 year)

Comments (17)

Apr 25, 2019 - 11:11am

From someone who has had 4 IB internships, it will help you a ton.

Think of it this way, you're competing for full time spots with people who have done 1 IB internship and can barely talk to their experience. Vs. you being able to actually talk about the deals you worked on, the modelling you've done (i assume you were at a boutique), and you already have lots of experience. This means you'll need less training, and are more likely to actually be able to contribute meaningfully as an intern

Apr 25, 2019 - 11:30am

Really? That's great to hear. I was just a little worried as I might be seen as a 'finance robot' or smth like that... I've had friends who did for example, 1 start-up, 1 pe, then 1 ibd internship and landed great offers at BBs, and they were able to create a well-crafted, coherent story as to why they ended up liking IB the most. But in my case, I can only show three IB internships in my CV and it will look like as if I has similar experiences in all of them and hence the story will be too obvious/boring.

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
Apr 25, 2019 - 11:45am

I had two IB internships and two from LMM PE funds and was questioned thoroughly by an Associate for having so much experience (1 time out of 6 interview processes). Despite what everyone is saying it is a double edged sword for sure. It looks like you jumped around a lot. Be prepared to answer if you got return offers and why you didn't just stick with one bank for a prolonged internship experience. It is noteworthy that I stayed at all of my internships for 5+ months (worked year round during school) and still had to address these sorts of questions (i.e. are you loyal?). With that said, I believe you worked hard to gain a lot of experience, and should keep it all on your resume. Speak to working in varying environments and focusing on different industries. You can also candidly say that you left for a better opportunity. I didn't interview at an EB so perhaps they might be more inclined to grill you about switching firms.

Apr 25, 2019 - 7:40pm

So it does happen I see.. Yeah I can imagine it being a double-edged sword. May I ask how the interview with that Associate ended up? Were you able to spin off a decent story and receive good offers at the end of the day?

Apr 26, 2019 - 10:25am

I was fortunate because I mentioned that I was invited to stay on at every firm I worked at, and mentioned that I wanted to diversify my experience and take advantage of better opportunities. After that he was pretty supportive and understanding, and for whatever it is worth, I got an offer there. However, my friend was only asked to stay on at one of the two IBs he interned at, and this question was a bit more nerve wracking for him.

Jul 28, 2019 - 8:27pm
"It's okay, I'll see you on the other side"
Start Discussion

Total Avg Compensation

April 2021 Investment Banking

  • Director/MD (9) $911
  • Vice President (34) $348
  • Associates (183) $233
  • 2nd Year Analyst (104) $151
  • Intern/Summer Associate (95) $145
  • 3rd+ Year Analyst (26) $145
  • 1st Year Analyst (389) $131
  • Intern/Summer Analyst (317) $82