<p>First of all, let me provide some background. I'm currently a high school senior, next year i'll be starting at Penn (Wharton) as a freshman.</p>
<p>In the future I'm looking at a position in the financial sector whether it be IB, consulting, or some other field.</p>
<p>I have two options this summer, the first is to find an internhip and the second is to work on several business ideas that I have.
I feel pressured to intern at JPMorgan because my friends already have internships at UBS, Goldman Sachs, and JPMorgan and they're also going to be freshman in college next year btw. Unfortunately, my parents dont have connections to these companies, so getting an internship would be more difficult.</p>
<p>I realize that at this point, an internship at a financial institution would most likely entail filing cabinets and making copies, and thought maybe there is a better use of my time. Would recruiters be aware of this or will the name of goldman sachs on the resume trump everything?</p>
<p>As far as business ideas, I have 4-5 ideas which I see as being potentially profitable and lucrative. They're mostly concerned with retail (undersaturated markets) and advertising. I hope to form several businesses under one parent company eventually. By the way, these ideas are realistic and not just fantasies lol. I already have experience with this and have owned a business for several years now, and have gotten revenue to ~120K.</p>
<p>So the question is should I try to find an internship or should I spend the summer developing my business ideas. Which would impress recruiters of major financial institutions more: an internship on my resume or having a couple businesses with net worth of ~250k-500k+?</p>
<p>Just out of curiousity what are your businesses, and you know the answer to that question? Frankly a senior with a business venture racking in half a mil a summer probably doesn't need Penn or JPMorgan. I don't think Mr. Morgan was runninng a half a million dollar a year business himself when he was 18.</p>
<p>First of all, it's important to consider that I'm not racking in 500k. If everything goes well, that's the potential several years down the line. These are just ideas, and many ideas fail. </p>
<p>Second of all, even if i were racking in 500k a year, I'd still get an education and go to college, its fun =). </p>
<p>Third of all, as much as I appreciate this kind of money, as strange as this sounds, I don't like working at home. It's kind of boring working by yourself everyday =(. And once again, I'd like to play it safe. </p>
<p>So let's assume that these businesses don't transform into 500k, but are just enough for...i guess beer money (in other words like 45k net profits a year)....I know that's a lot of beer lol, but regardless. Is it still wise to do this. Will this impress employers more than actually interning for them?</p>
<p>I guess it depends on prespective. If you won't get the job filing papers, and make contacts, then I guess interning at JPMorgan is the right thing to do, but you go to Penn, you'll get an IB job no matter what.</p>
<p>Yukos, I think you'd be okay with spending this summer on your business ventures and then doing your interning during the summers after freshmen year, sophmore year, and jr year (the most important).</p>
<p>You're right in that you'd probably just be filing papers, which would still be great to have on a resume -- but the fact that you're going to Wharton will already help you quite a bit, especially with the industries you're interested in.</p>
<p>As a student at Penn myself I can tell you, chill out.</p>
<p>Have fun. Spend a summer selling ice cream or lounging on the beach. If you really want to, develop your businesses.</p>
<p>When it comes to I-Banking internships, you don't really need to get one until your junior year. And sometimes not even then - a lot of my friends have gotten financial services jobs without having previously held summer internships.</p>
<p>The best thing anyone could basically do to get into the IB field is get into wharton, which you did. I would say enjoy your last summer in high school.</p>
<p>Question of pure curiosity: Do you truly generate a revenue (annual) of ~120k from the first website you previously listed? If so, I guess I'd be surprised as well as inspired. Or did you mean over several years you're revenue has added up to ~120k (still impressive), and well, how many years was that?</p>
<p>Thanks for your advice, I feel better about not having anything lined up, and now I can look forward to making the most out of this last summer before college =) </p>
<p>In regards to your question it's 120k per year, but I've been pretty busy, I think it wouldnt be too difficult to maybe even double that that by doing some tweaking/optimizing, which I'll now have more time to do =)</p>
<p>wow... I'm in no position to give advice... but I'd stay on course with your own business vs. being an office b*tch at a firm with a fancy name
... such an internship would likely be more valuable after a year or two of Wharton under your belt</p>
<p>I-banking internships are usually given out the after your junior year, and both the pay and the tasks are pretty much what you can expect after graduation; you will be a research analyst (or whatever it is called on your particular firm) and get payed as a research analyst.</p>