Unpaid search fund internship
I’m a freshman at a non-target school and I have a couple of options when it comes to working over the summer. I’ve been in talks with the owner of search fund who needs and intern but he isn’t sure if he would be able to pay me or not . This is truly amazing experience especially for IB and the fact I’m at a non-target however I am still a broke college kid who needs money. I also have a job offer to sell cars at a well-known dealership. At the age of 18 this would be killer money, even just working for the summer I could be able to make enough to not have to work the next year or two of college. A lot of my mentors told me early on that freshman internships don’t usually happen for freshman so don’t worry about it. Is it a better time to stash cash / learn modeling on the side or go full into the world of big finance.
Did an unpaid search fund internship during my MBA and can honestly say it opened doors for me. One area I would definitely have a conversation with the search fund owner is around what you will be doing. I was lucky to be on the deal team at my fund but most interns spent time combing the internet and databases looking for companies to reach out to as a potential acquisition. Those interns never saw a model, management meeting and some never even saw decks. As a freshman I think it could give you something good to talk about as you interview for soph and jr internships.
I would be the only intern at this particular fund, so i would be doing a little bit of everything and he definitely mentioned that I would be on calls with him and asking questions.
Are you still around by chance, can I PM you? Specifically curious about a certain search fund at the MBA level and would rather not mention it on this post.
Also did a search fund internship in freshman summer. Most search funds don't require you to work that much since there's no pay. So maybe ask for some flexibility so that you can work both jobs. But if money is a serious concern, I'd say go for the car dealership and try to spin it off into some sales/finance related experience in interviews.
Thanks I appreciate the advice
I worked for a search fund and was a barback at the same time my freshman summer. Totally do-able. If you want relevant experience then make it work.
I’m also currently a valet so if I did take the internship I would keep valeting to make money on the side over the summer
Well if you want a finance-related internship as as a freshman and to make a little bit of money on the side I don’t see why you’re questioning this decision.
If you can manage your paid jobs around the internship (or vice versa, ask the guy to potentially change the timing), a search fund internship in your Freshman is very beneficial, especially with the hyper-accelerated recruiting cycle. You can study basic modelling on the side, which you can leverage and say it in interviews that you projected revenue / EBITDA of potential acquisition target, etc, and doing industry analysis. Good luck.
Did a search fund internship as well, it was unpaid and tbh, it opened so many doors for me. It looked great to put “private equity intern” on the resume when recruiting for IB during my junior year and made me stand out over having a random internship not really related to finance.
Mine was remote and I only worked like 5 hours a week and inflated it hard on the resume and stuff lol. So I got another job to make some extra cash on the side.
which fund was this for?
Spent the last year at 2 different search funds, both unpaid. Coming from a non-target trying to break in it was my only hope. The experience and insight I gained got me to a FT offer in M&A. If you land at the right fund, you can learn and use a lot. Some others are absolute trash cans using you for bs data entry. Be vigilant and aware of these. Unpaid tedious work can be demotivating, but if exposed to the deals and models etc. you can leverage a ton of the skills. Also, make sure they have deals to begin with. Some funds can’t even get to the NDA stage and you’re stuck learning nothing. GL!
Also coming from a non-target here. Worked a search fund in my freshman summer and it turned out to be super beneficial. I leveraged it for a larger pe gig in my sophomore summer and am now working at a EB. Accelerated IB timelines now mean that the only relevant experience candidates can speak on is regarding their first year summer and/or EC experience at school. Bc of this, I think the search fund is a no-brainer. Also, like above comments, I worked ~5ish hours per week for the SF and was able to work a part time job as a server at the same time.
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