Freshman Internship - Should I take this opportunity?
Dear friends,
19 yo Brazilian, studying in University of British Columbia (Canada). During my summer vacation, I wanted to have an internship.
I'm looking after developing a career in Investment Banking in the future, however, in Brazil it's nearly impossible to have an internship in IB since they require 2nd year university students in order to be considered for the application pool.
However, I applied. They interviewed me, they liked me, but the results were expected - no IB internship for you since you still in your 1st university year. Surprisingly, the bank told me that the managers really liked me and that they would like to offer me an internship opportunity in Private Banking.
In context, the Bank in question is the best bank for IB in Brazil, a bank for the super rich and billionaires. Brazil is indeed a poor country, but when it comes to this Bank, the reality is different.
Both nationally and internationally, the bank is well known and has a spectacular tradition.
Thank you for reading this far. Please leave your opinion below whether I should accept this position or not. Will I be "marked" with Private Banking on my CV and could this keep me away from Investment Banking in the future?
Accepting the internship in Private Banking at a prestigious bank in Brazil, especially one known for its excellence in Investment Banking, can be a strategic move for your career. Here’s why:
Valuable Experience: Even though it's not directly in Investment Banking, Private Banking still offers relevant financial experience. You'll learn about wealth management, client relations, and financial products, which are valuable skills in any finance-related career.
Networking Opportunities: Being in a bank known for its strong presence in Investment Banking provides you with networking opportunities. You can build relationships that may open doors for you in the Investment Banking division in the future.
Resume Builder: Having the name of a top bank on your resume is beneficial. It shows future employers that you've been vetted and trusted by a reputable institution. This can be a significant advantage in a competitive field like Investment Banking.
Transition Potential: Many professionals in the finance industry start in related fields before moving into their desired roles. By excelling in Private Banking, you demonstrate your capability and drive, which could lead to opportunities in Investment Banking later, especially within the same bank.
Skill Development: In Private Banking, you'll develop a deep understanding of client management and financial advisory, skills that are transferable and highly valued in Investment Banking.
In conclusion, while this role isn't directly in Investment Banking, it offers a solid start in the finance industry, particularly at such a prestigious bank. It would be wise to accept the position, excel in it, and leverage the experience and networks you build to transition into Investment Banking in the future.
Sources: Intro to Investment Banking, A Guide for Switching From Commercial Banking to Investment Banking, A Guide for Switching From Commercial Banking to Investment Banking, If your SA internship is canceled, but you get FT offer, will you still recruit for "better" job?, Early IB Offer with exploding deadline - months before normal recruiting
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