Fund of funds vs. bank internship
Hi everyone.
I'm new to this site but noticed some great advice from a lot of the people in the industry was often given to people with questions, so I figured why not give it a shot.
I'm currently a junior in college working as a research analyst at a fund of funds (job responsibilities include due diligence, investment memos, audit reviews, etc.). I was offered a position there for the summer and next fall, however I also received an offer from BNYMellon for a summer internship (where I worked last summer, but in a better department). I was just wondering what would be the best choice for me to make (without taking salary into consideration as both are relatively equal). Both offer little to no hope for a full time offer after graduation so I'm just looking for the best thing to put on my resume so that I can get interviews in the fall.
Any advice or information would be VERY much appreciated. Thank you :)
Hey. Kind of tough. What will you be doing at BNY? It's not up there with other BB's. What do you want to do after college? IB/ST/PWM? which?
Thanks for the response! Yeah, I know BNY is kind of a custodian bank, but is some name better than no name? I'll be working in the advisor solutions dept. the dept description is as follows: "Trading Services - Gain a competitive edge and expand your practice globally with our comprehensive trading services, proven execution quality, and dedicated support, Flexible Technology - Rest assured that the systems and software that drive your business are the most efficient, reliable, and leading-edge, Investment Solutions - Offer your high-net-worth clients a comprehensive array of investment solutions, from cash management to retirement planning, Practice Management - Improve efficiency, attract new assets, and keep up with changing regulations with our expert insights and easy-to-execute solutions, Service Excellence - Enjoy our consultative and customized approach to service with a dedicated team focused on achieving your business objectives"
After college, I definitely want to go for my MBA in a few years and am interested in ST/ Equity Research, but not IB (i also wouldnt mind staying in the fund of funds/hedgefund area). i know both of my options are not exactly top notch, but i just want to know what would give me a little bit better of an edge on my resume.
thanks again!
Since you've got both on your CV already, I'd say that the attractiveness between them for the summer would be marginal. Just go with which ever you would enjoy the most, esp if going with the FoHF means you can continue working in the fall and develop some really good contacts on the buyside. The BNYM job seems like pitching to retail clients, which doesnt sound so great. Good luck with the decision.
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