<p>Hi,
I am a sophomore going to be a junior next year at a semitarget's top engineering program (something like Cal, Michigan, Carnegie Mellon). I am interested in IBD but obviously I didnt land any interviews this year as sophomore.</p>
<p>Right now I have a couple internship choices:</p>
<p>"assist in the operational support for the Foreign Exchange product support and service. perform transaction processing, portfolio or trading book administration, and data management for high value often complex transactions. Additionally, they will be required to coordinate and administrate customer data and settlement instructions. "</p>
<p>OR</p>
<p>Bank of America Global Market Technology as a programming developer for trading desk (does this pigeonhole me as tech btw?)</p>
<p>OR</p>
<p>a very very tiny private equity unpaid internship (I did some research online and people who have gone through it said it's a scam and they basically make you do grunt work including cleaning the office because it's a one-man-shop)</p>
<p>Which one is my best option? Are these all irrelevant and useless internships?</p>
<p>Also, an extra question. I only have a 3.5 GPA in engineering. If I end up taking one of these offers, and I also have a no name summer financial analyst internship over last summer at a boutique investment bank overseas. With this in mind, would I be able to have a chance to get interviews for IBD summer analyst for BB next year? how bout MM and boutiques?</p>
<p>I’m a sophomore at a West Coast private university (not Stanford, lol, so you can prob figure out already), and I would suggest you do something analytical, so you can talk about it at interviews. I did an internship with Merrill Lynch wealth management in the summer of my freshman year, and did another with a boutique investment bank during fall semester. Here’s how i see it:</p>
<ol>
<li><p>Merrill Lynch is just a resume builder for me. Retail banking is not respected in IBD, but, it shows that you’re interested in finance and capital markets, esp since u’re an engineering major. If you don’t have anything on your resume to start with, that’s good. But seems like you already did an internship with a boutique bank overseas last summer as a freshman. If your last internship did not involve any form of modeling or valuation or anything analytical/numerical/quantitative, go for the Bank of NY Mellon, cos the name is up there and it seems more quantitative than the rest. </p></li>
<li><p>My 2nd internship did not involve modeling or valuation as well, but i did get to use Cap IQ and research acquisition targets, which at least gives me stuff to talk about during interviews. The private equity one sounds good, only if it really allows you to do LBO models and stuff that is analytical. I have an offer with a merchant bank now for this summer, but it’s mostly research work, so I’m still thinking twice about taking that up, waiting for other offers to come along. </p></li>
</ol>
<p>Lastly, I did manage to get interviews with Goldman Sachs IBD this year, but my offer got retracted because I am an international student, and I-banks on TARP money can’t hire intl students unless they pay back their debt. So hopefully, you get an idea I’m not speaking on speculation. They do ask you about ur experience and it’s better to have something quantitative to talk about (think EBITDA multiples and such)</p>
<p>i go to a west coast private university – just curious.
do ibanking not hire any international student for interns anymore? ***??? any possible solutions? I want to get an internship next summer for finance.</p>