Internship leveraging, next steps
Hi all,
I recently completed my summer internship and am now starting my final Bachelor (undergraduate) year.
I will take a year off after completing my studies to complete 2-3 more internships and will thereafter either start working FT or pursue a MiF.
The work experience I have gained so far:
1x internship in Transaction Services at a Big 4, doing Financial Due Diligence
2x internships in Backoffice Buyside
My goal is to leverage my already completed internships into M&A internships, ultimately finishing off with as "Prestigious" an internship as possible (I'm not chasing prestige, but I have ambitions to get as high as possible, having all doors open).
I think location-wise, NY and London will provide me with the most learning and networking opportunities, as the DACH region will not allow me to go as international (I am from DACH).
What do you guys think what kind of shops I should (or realistically can) aim for with my 1st internship out of undergraduate, and what are the 2nd and 3rd ones I could potentially leverage out of previous ones?
All thoughts are highly appreciated. I do not want to apply to positions with minimal odds to not decrease my chances a few months later with another internship in the bag.
Thanks so much guys!
Push
Hey there! It's great to see you're planning ahead and aiming high. Based on the most helpful WSO content, here's a potential roadmap for you:
First Internship Post-Undergrad: Given your experience in Transaction Services at a Big 4 and Backoffice Buyside, you could aim for a boutique investment bank or a middle market firm. These places often value the kind of experience you have and it would be a logical step up.
Second Internship: After gaining experience in M&A at a boutique or middle market firm, you could aim for a larger, more prestigious investment bank or a private equity firm. Your experience in M&A would be highly valuable here.
Third Internship: With experience in both M&A and potentially private equity, you could aim for a top-tier investment bank or a large private equity firm.
Remember, networking is key in this industry. As you've seen in previous WSO threads, networking can open doors that might seem closed at first. So, keep networking and learning as much as you can. Also, consider learning the BIWS guides and modeling courses by heart, as they can give you an edge in interviews.
As for location, NY and London are indeed great places for finance careers. They offer a lot of opportunities and a chance to work on international deals.
Remember, this is just a potential path. Everyone's journey is unique and there are many ways to reach your goals. Good luck!
Sources: Two Internships Later: What I wish I Knew While Recruiting! (Toronto), Dad's a partner at a PE shop how do I use it to network?, Q&A: VP in Private Equity (Growth Equity + LBO)...Post-MBA...Formerly IB Analyst, Q&A: Broke into MM M&A from a non-traditional background and 2 years of networking and internships
Thanks!
Anyone care to agree / disagree and give example firms?
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