What non IB internships can still be attractive to investment banks
The title really says it all. I've had difficultly finding an internship for this upcoming semester and want to prepare accordingly so I don't end up working as a lifeguard. What type of internships are a little "easier" to land and can still be viewed as beneficial finance experience when looking for jobs in investment banking? I know its very late into the recruiting process. Is wealth management seen in anyway as beneficial? Thanks!
Corporate strategy Corporate development Bank teller Strategy consulting Corp fin
u wot m8?
ER, PE, PWM
F500 corporate finance, regional BB/large bank wealth management, Big 4 finance/accounting internships
Best non-IB internships (Originally Posted: 01/18/2016)
I'm currently a junior and I'm starting to think that I wont be getting a traditional investment banking internship. My ultimate goal is to break into sales and trading. I just want to know what would be the best type of internship or field that I could start exploring for this upcoming summer (that isn't ib). I know if I don't find an internship this summer and work at the family business I'll have a real tough time explaining that when interviewing. What type of non-ib internships are most favorable and wont necessarily hurt my chances going forward?
Private equity would make the most sense if possible.
Non-IBD summer to IBD full time (Originally Posted: 08/03/2008)
Is this a possible route for full time? I had a summer ibd offer at a strong bulge bracket, but opted to take an internship in trading at another BB. I realized I didn't like it, and despite still trying hard did not receive an offer. I want to go back into ibd at this point, so I'm wondering if its a possibility. I'm especially interested in some of the top boutiques, and am wondering if they would even consider interviewing a person with no banking experience. Despite doing my internship at a top BB (MS/GS) and coming from an ivy league, I feel as if I'm a large step behind anyone with a banking background, BB or not.
From personal experience, you should be fine. I interned in S&T and received a few FT IBD offers. In the end, S&T really wasnt for me either. Just make sure you have some good reasons as to why you want to move into IBD and so forth. Not getting an offer will definitely hurt you but there are ways of making your story better especially since you are looking to move into IBd.
Of course, it may be different this year with the market so take my personal experience with a disclaimer.
Best non-IB internship to get into IB (Originally Posted: 11/05/2013)
what's the best internship position one could take to get into IB if one doesn't get an IB role? what's the next best thing? trading? research? looking particularly in research type roles but hit me with everything you've got.
Corporate Development
http://www.wallstreetoasis.com/frequently-asked-questions/getting-a-job
The "Where should you intern to land finance job offers?" thread is especially helpful
PM
Non-IB internships (Originally Posted: 07/26/2013)
How much do non-IB internships count on a resume if a student is looking to get into banking?
I'm an incoming first-year at the University of North Carolina - Chapel Hill looking to get into the Kenan-Flagler school. My mother was a managing director at a ratings agency and still has many friends in the industry who would be willing to help me get an internship. If I interned at a ratings agency the summer before my sophomore year, would that still be valuable if I would rather go into banking?
Thanks.
Yes, internships help.
Go take that internship at a rating agency to have it as a step stone to banking. You won't make it into banking directly during freshmen year anyways. Build yourself up. And welcome to UNC.
Non IB internship on Resume (Originally Posted: 07/31/2013)
Hello all,
I am am entering my final semester of undergrad at a non-target school. I recently switched majors and have a Finance GPA of 4.08 and a cum. of 3.2. I was unable to get an IB summer internship but got a finance dept job with a Fortune 500 company, more accounting than finance. I am now trying to apply for an unpaid PE internship for the fall and am trying to figure out how to best phrase my internship to seem the most appealing. I am doing a lot of report building in excel and budget reconciliation.
I was wondering if this will even help, or how best to phrase things. Any advice, or comments would be greatly appreciated.
Plus/Minus system
What are some good non-IB internships to have on a resume? (Originally Posted: 01/02/2015)
I may be able to secure an internship with a family relative. He has his own small Consulting/Accounting firm (Referred to as Accounting, but when I spoke with him it sounded more like consulting as he explained it. I'd appreciate it if someone could clear this up with me.) at which I could be a summer intern over my Freshman year.
Basically, I'm curious as to what non-IB internships are good for a resume. It seems that PE, F500, and HF are all I see around here.
Any thing you can get.
Buy-side PE, HF, WM, AM > Consulting and VC and Fortune 500 > Other corporate > Accounting My own opinion.
As a freshman internship, what your relative could offer you sounds more than suitable. Of course, many WSO posters will just spit out the PWM -> Boutiique IB -> MM/BB IB -> FT Offer path but in all honesty that is not the only way to break into banking.
Don't think too hard on this one. Anything finance related you can get as a freshman is fantastic. More than anything just try to learn something while you're there. It's very unlikely you're going to do anything meaningful, so talk to people and learn about what they do and be able to talk somewhat knowledgeably about it at a high level later. If you can do something that saves the company time, even if it's just a more efficient filing system, even better!
More than anything, a freshman internship goes to show you have some interest in the field and are willing to give up a summer at the pool to learn more.
Accepting a non-IBD SA offer and pursuing FT IBD (Originally Posted: 02/20/2011)
Hi guys,
I have a few of options for summer internships and I'm wondering how each will impact full-time IBD recruitment
-IBD at a boutique shop (where I would definitely not want to work full-time) -a VC fund (what I'm most drawn to and what I would like to get into after working in banking) -hedge fund (not a ton of AUM but growing, pretty well-known where I'm from. I have no intention of ever working full-time at a hedge fund but I'm sure it would look good on my resume) -private wealth management at a mid-market firm (also have no intention of ever working in PWM)
Any comments much appreciated!
If the VC provides the opportunity to work FT, take that. If not, I would go to the VC.
Also, if you are a sophomore, go VC. If junior, probably IB if you desire the traditional IB to PE/VC route.
yo situation- thanks for the response
I am a junior, but I'd like to do something different before full-time recruitment, even though the IB job is the most relevant And no... The VC made it clear that they won't be handing out full-time offers, as did the hedge fund
Boutique IB
Normally I'd say that if you want to work in IB; no time like the present.. But are you a target or non target? This makes a deciding different
boutique...you wont learn anything at a VC over a summer without a a solid skill set.
Considering you are a Junior, take the IB. When you are interviewing for FT IB, they will ask why you did a VC internship and why not IB? They will inquire about why you want to do IB as well. The VC internship will weaken your story and some firms are not as comfortable hiring the kid that plans on working a year or two and jumping ship.
Best Pre-Banking internship within realm of RESEARCH (DIVIDED TO PARTS) (Originally Posted: 06/03/2013)
So lets say that one were to strike out and not get any banking offers. In your eyes for preparing for BB SA, which internships would you say are the most "relevant" to IBD?
a. PE Research (focusing on LBO takeover candidates) b. M&A Research (Evaluating and pricing M&A activity) c. Equity Research (General valuation of stocks to determine if it's a good investment) d. Distressed Debt Research (Focus on fulcrum securities) e. Venture Capital Research (Focus on potential candidates)
I'm assuming:
2a. Equity Research is also more of a generalist feel since I could technically pick any industry I want and value it. I guessing this would be below PE/M&A research in terms of relevance?
2b. Distressed Debt Research would be only relevant if I were pursuing restructuring groups within IBD?
2c. Venture Capital Research would be only relevant if I were pursing Tech firms right?
What do you think? Are my assumptions wrong?
Try becoming a Mac Genius, the banks have been putting a lot of effort into finding the smartest people they can hire and having the name Genius on your resume will show them your ability!
Are these all at (PE,VC, etc.) firms or are you just doing this on your own? If these are just research internships at a real firm I think any experience is great - it's all about how you spin it. Not sure how valid research would be on your own though.
The best pre-banking internship is one that you actually get, not just talked about.
I;m at a research firm and have the option to choose which area I'd like to focus on !
Best Non-"IB" internships, in IB (Originally Posted: 11/14/2012)
So BBs are starting the summer analyst selection process in a few weeks, and I wanted to know what internships within the IB division 1) are the best experience and 2) have the largest opportunity for a job offer at the end of the summer
By non-"IB", I mean that every BB has an 'investment banking' summer analyst program, but there are other areas within the investment bank that have summer analysts as well. Some of the more common areas are:
Capital Markets, Equity/ Credit Research, Public Finance, Treasury Solutions, 'Transaction Services'?, etc
Honestly, it's hard to discern how most of these divisions work within huge firms based only on a one or two paragraph description
With PubFin, are offers usually given out to summer interns, the same way as in IB? Is Capital Markets a division that would hire kids out of the summer analyst position? Or are the future benefits only reserved for direct IB interns?
Looking for some clarity
I believe that interns in all of those areas, at most firms that have formalized recruiting processes, should definitely be eligible to receive a FT return offer and get hired back (if that's your question).
In terms of what offers the best experience... it depends what you want to do, you should take the time to learn more about the different roles that you've mentioned.
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