What would you do? - Sophmore at a semi-target

Hey guys,

I'm a sophomore at a semi-target, and I have a little bit of dilemma deciding between SA positions. I have an offer from a boutique equity research firm, but I will be interviewing for an internship with a well-known hedge fund (think SAC, Citadel, Fortress type) in their operations division.

If my goal is to end up landing an S&T SA position after my junior year, what do you think is the best choice?

The name of the hedge fund will certainly stand-out more, but will the more relevant experience at the ER shop be more useful?

WHAT WOULD YOU DO?

I'd really appreciate your input. Thanks.

 
DJ <span class=keyword_link><a href=//www.wallstreetoasis.com/finance-dictionary/what-is-london-interbank-offer-rate-libor>LIBOR</a></span>:
Not sure if ER is really that close to S&T, same with Ops. Might go ER just because it keeps other options open and Ops is probably not as solid of a learning experience. Is the boutique decently well known?
Is this a troll post? For your sake, I hope it is.
Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 
Edmundo Braverman:
The name of the hedge fund will really stand out, and so will the fact that you ran tickets, cleared trades, and fetched coffee for the other back office mongoloids.

Take the ER job.

OP, this is your answer.

Think of it this way: Do you want to be a waterboy in the pro's or a starter on a triple-A league? Do six months in ER at the tiny shop and then lateral to a MM/BB

Get busy living
 
UFOinsider:

Think of it this way: Do you want to be a waterboy in the pro's or a starter on a triple-A league? Do six months in ER at the tiny shop and then lateral to a MM/BB

Easier said than done but yes. UFO and EB have it spot on. Don't let a name usher you into a role in which you'll be kick yourself after a month thinking 'what if'.

 

For all those bashing the back office...my friend did back (middle?) office at a small hedge fund last year and ending up getting a bunch of OCR interviews for boutiques (in ibd, he didn't apply for S&T) and some big PE firms.

I think any sort of experience can be good--you just need to leverage it correctly once you get into the interview process.

 
bcf2011:
For all those bashing the back office...my friend did back (middle?) office at a small hedge fund last year and ending up getting a bunch of OCR interviews for boutiques (in ibd, he didn't apply for S&T) and some big PE firms.

I think any sort of experience can be good--you just need to leverage it correctly once you get into the interview process.

For SA it isn't as bad. For FT it is hell.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 
Edmundo Braverman:
bcf2011:
For all those bashing the back office...my friend did back (middle?) office at a small hedge fund last year and ending up getting a bunch of OCR interviews for boutiques (in ibd, he didn't apply for S&T) and some big PE firms.

I think any sort of experience can be good--you just need to leverage it correctly once you get into the interview process.

Interviews =/= offers.

Well he did get offers. Honestly, once they're interviewing you, the actual facts on your resume become less important. If you can't get the technicals or whatever it's a moot point (or if you can...) I believe getting the interview (and then of course performing well in it) is the most important part.

I should also add that I got BB S&T (albeit abroad, but I wasn't going for NY) with only a government internship on my resume...

 
bcf2011:
For all those bashing the back office...my friend did back (middle?) office at a small hedge fund last year and ending up getting a bunch of OCR interviews for boutiques (in ibd, he didn't apply for S&T) and some big PE firms.

I think any sort of experience can be good--you just need to leverage it correctly once you get into the interview process.

he got the interviews in spite of, not because of, the BO experience.
 
NewGuy:
bcf2011:
For all those bashing the back office...my friend did back (middle?) office at a small hedge fund last year and ending up getting a bunch of OCR interviews for boutiques (in ibd, he didn't apply for S&T) and some big PE firms.

I think any sort of experience can be good--you just need to leverage it correctly once you get into the interview process.

he got the interviews in spite of, not because of, the BO experience.

Umm...how many sophomores do you know with any sort of FO experience?? I highly doubt it was "in spite of." Considering how many people I know personally who got either no or almost no finance interviews, with either similar or much higher Wharton GPAs and more finance classes, but whose sophomore internships had nothing to do with finance...I would say because of. Or at least correlation since we obviously can't prove causation here. Excuse the poor structure of the sentences here.

I mean, if you can provide evidence to the contrary (in spite of), please do. Obviously everything is anecdotal, but I have seen a lot of anecdotal evidence here at Wharton this year.

 
bcf2011:
NewGuy:
bcf2011:
For all those bashing the back office...my friend did back (middle?) office at a small hedge fund last year and ending up getting a bunch of OCR interviews for boutiques (in ibd, he didn't apply for S&T) and some big PE firms.

I think any sort of experience can be good--you just need to leverage it correctly once you get into the interview process.

he got the interviews in spite of, not because of, the BO experience.

Umm...how many sophomores do you know with any sort of FO experience?? I highly doubt it was "in spite of." Considering how many people I know personally who got either no or almost no finance interviews, with either similar or much higher Wharton GPAs and more finance classes, but whose sophomore internships had nothing to do with finance...I would say because of. Or at least correlation since we obviously can't prove causation here. Excuse the poor structure of the sentences here.

I mean, if you can provide evidence to the contrary (in spite of), please do. Obviously everything is anecdotal, but I have seen a lot of anecdotal evidence here at Wharton this year.

As someone who's actually involved in recruiting, I would prefere someone with FO experience to BO experience everytime regardless of where said BO experience took place. That's not to say I ding everyone with only BO experience, but I'd rank it below someone with FO work.

I said in spite of, meaning your friends grades, background, extra curriculars etc were probably all at a very high standard and hence, the dealbreaker was NOT his BO experience. Your point about how many sophs have FO experience is irrelevant to the OP as he has a CHOICE between FO at a small firm and BO at a well known hedge fund. From a recruiting perspective, FO experience anywhere > BO experience anywhere.

Mirin' the unnecessary Wharton name drop though ... douche.

 
Best Response
bcf2011:
NewGuy:
bcf2011:
For all those bashing the back office...my friend did back (middle?) office at a small hedge fund last year and ending up getting a bunch of OCR interviews for boutiques (in ibd, he didn't apply for S&T) and some big PE firms.

I think any sort of experience can be good--you just need to leverage it correctly once you get into the interview process.

he got the interviews in spite of, not because of, the BO experience.

Umm...how many sophomores do you know with any sort of FO experience?? I highly doubt it was "in spite of." Considering how many people I know personally who got either no or almost no finance interviews, with either similar or much higher Wharton GPAs and more finance classes, but whose sophomore internships had nothing to do with finance...I would say because of. Or at least correlation since we obviously can't prove causation here. Excuse the poor structure of the sentences here.

I mean, if you can provide evidence to the contrary (in spite of), please do. Obviously everything is anecdotal, but I have seen a lot of anecdotal evidence here at Wharton this year.

Yeah, you're a fucking tool.

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.
 

My point of mentioning Wharton was not to be a douche;, my point was that even at Wharton, having finance experience, even back office, is apparently way more important to recruiters than anything else once you're at a certain gpa. Maybe it's different at other schools, but somehow I feel (and please confirm or refute this) that recruiters would prefer someone from a different school with back office experience in finance over a finance concentration at wharton who had no finance internship experience.

I also wasn't really replying to the OP anymore (my mistake), but pointing out that back office internships as a sophomore aren't as bad as everyone seems to make out. I would think there are so few "front office" internships for sophomores that recruiters know that and look to see if you tried to do something in finance.

And I also replied to this after posting on a thread where someone was asking about Wharton, so it was just top of mind. Really didn't mean to name drop, I swear (and not that anyone cares, but when people ask where I go to school, I say Penn, not Wharton).

 

Ut quis dolor quasi omnis. Voluptatem voluptates minima odit esse. Mollitia magnam id voluptatum distinctio ratione libero. Consequatur autem velit assumenda aliquid suscipit molestiae nisi.

Incidunt dignissimos odit quia excepturi rerum. Expedita exercitationem consequuntur consequuntur sed. Mollitia et aut quaerat magnam rerum iure exercitationem. Saepe rerum repellat ea maiores quia recusandae magni. Rem perferendis vel officiis magnam. Aut et laboriosam in maiores aut. Asperiores iure qui error nam.

Eum dolores perspiciatis quia atque aut. Numquam expedita excepturi non amet qui ut voluptates. Quaerat iste aut repudiandae atque est ea nesciunt. Hic voluptates quia mollitia aut et. Hic veniam id rerum reiciendis aut dolores reprehenderit occaecati.

Qui delectus magnam et. Fugiat impedit eum quis aliquid ut. Est similique voluptatibus et est debitis voluptas. Et eligendi consequatur voluptatum. Libero commodi molestiae numquam non. At ratione ipsa eos itaque voluptatem et.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (145) $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
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
kanon's picture
kanon
98.9
9
Jamoldo's picture
Jamoldo
98.8
10
numi's picture
numi
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...”