Unpaid IB vs Paid Inv. Mgmt Internship vs Graduate

I've tried looking around for an answer and I know there's another thread active thats similar in nature, but I feel that this one is different and I didnt want to hijack the thread.

So I have two offers right now and I only have 1 more term of school until graduation.

Choices: 1. Unpaid IB internship at a Cdn MM, 5 offices across country. deal size ~10-50mil (I know its not exactly an MM in the US but thats why they market themselves to be) Lots of partners with good connections.

  1. Paid internship at a $80bil AUM fund. portfolio settlements (most likely BO) but get to sit with traders and got very close to a senior VP in that department.. so good FT prospect). $18/hr

  2. Go back to school for the summer, finish my courses so I can graduate and seek FT.

Background: 3.5 GPA, Finance major, semi-target in Canada, interned in PE BO of pension fund, and wealth management at a Big5 Cdn bank. Not exactly sound financially.

Please advise.. as I am really not sure what to do.

Thanks for your help in advance!

3 Comments
 

I am a sophomore in Canada at a semi-target, too. Did you acquire your previous internships through cold-calling?

Regards.

The difference between successful people and others is largely a habit - a controlled habit of doing every task better, faster and more efficiently.
 

Laborum maxime molestiae quia quidem. Et ducimus voluptates quasi in eaque voluptas alias. Molestias sapiente ut vero et voluptatem eius voluptatum. Asperiores ut porro voluptas tenetur.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
CompBanker's picture
CompBanker
98.9
6
Betsy Massar's picture
Betsy Massar
98.9
7
GameTheory's picture
GameTheory
98.9
8
DrApeman's picture
DrApeman
98.9
9
dosk17's picture
dosk17
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”