Alright I thought I had a position at AYCO lined up for a nice paid PWM gig during the year but after calling and offering me the position they withdrew the offer so I'm seeking other opportunities..
I've lined up interviews with a small AM firm and a commercial bank of sorts.
The first is a small Asset Management arm (~2 billion AUM) of a small Investment bank. The potential here would be that I could meet some portfolio managers and explore AM as a potential career path and if that doesn't work I could hopefully try and land a gig over at their IB offices. The position description made it sound very clear that I wouldn't be doing anything remotely useful though (more of marketing role).
The second Interview I have lined up is with NYBDC and from what I gather they provide commercial loans to businesses. This internship would place me in a credit analyst role with arguably less networking potential. The work sounds slightly more bankerish to me though.
Description:
• Evaluate the financial implications of additional borrowing, commercial growth, and the implications of the borrowing company’s expenditures.
• Develop and coordinate various other financial analyses and presentations as needed.
• Develop an understanding for finance document associated with small business lending.
• Work with other interns to continue the “Green Movement” with our state of the art scanning program.
End Description.
So if I was to decide that I am no way interested in AM and I didn't manage to network over to the banking arm of the AM firm which experience would be more worthwhile to pursue?
TLDR
get the offers first, then decide
fixed
I think this really depends on your strategy for SA recruiting your junior year- are you at a target? I think the commercial banking, skill wise, translates much better for IB. If you are going to be relying on networking to find an IB internship, however, the brand name firm might be a better move.
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