Useless Summer position, am I stuck?

I've got myself in a interesting situation. I'm currently working at a no-name investment bank where I really don't do much (there just isn't enough going on, not like I could ask for more). It's unpaid and some days all I do is read the WSJ and Bloomberg. It's so small that some people in finance in my city haven't heard of it, and I'm not in a major finance hub.

Ill be a senior in the fall at a semi-target so there will be a good opportunity to recruit for ft, but I need some good experience this summer.

Here is where my dilemma starts. Should i try to pursue another intership for the remaining summer months, or just stick it out My boss says he is well connected, so if I leave he might be able to run hurt my chances come fall. I have a list of a handful of banks that have taken summers in the past, again it's not a major finance city so it's pretty informal and I might be able to start mid-summer.

Any advice? Should I stick it out and hope for the best come fall, network like hell with the BB (not easy given location) or pursue another position.

Thanks in advance.

 
Best Response

Just a few things you can do.

  • Ask if you can look at a template model, download some financials, and play around.
  • Ask to see some pitch books, read them, and then write 100-200 words on why that company would be a good investment and who would be potential buyers.
  • Ask if there is anything going on in current events (something specific, not the continuation of the global financial crisis) that is affecting your firm/its clients, research it, and then write a 500-1000 word analysis on whats happening, why its good or bad, and recommendations for the future.
  • Create a 10-15 minute PowerPoint giving the overview and purpose of sell-side advisory. Your audience should be a Corporate Finance class. You can then take this to your school and speak with some professors to give presentations during their classes.

I worked at a small MM last summer. They were in the closing phases of a several deals, and I was only working part time, so it was hard for them to find fresh stuff for me. You can pm me if you want some more info.

Also, if you do a good job, your boss will be surprised by the quality of work, and will love you just a little bit more.

My WSO Blog "Unbelievably Believable" -- RG3
 

I get where you're coming from. I'm doing a pretty gay BB PWM internship. Getting a better job at this point unless it's cold calling a PWM place is gonna be really hard. I'd stick it out, but continue networking while you're there. Utilize your boss as much as you can since he's supposedly the one with the connections. I understand from experience that the work itself sucks. To spin this in a positive light, use it as an opportunity to impress your boss and others around you. If all else fails, you'll may have a FT offer from them after the summer is over to fall back on.

 

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