Long post coming, so if you can't be bothered to read it: how good is a low-key corporate finance advising internship for getting hired as a full time analyst?
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I'm a junior at a non-target majoring in economics planning to enter energy banking in Houston. I have had a rough time with summer internship search for a variety of reasons. Right now I have an offer to intern with a local corporate finance advisor - it's a very small group, three or four people, who do corporate finance advising for early stage growth companies. I would be doing some small capital placements and financial modeling in addition to general operations work for getting new companies' finances together. The problem is... the clients are startups, with just a few people, and I can't see how it would prepare me to work on even middle market companies. Furthermore, it's unrelated to the energy industry. The good thing is that it's also in Houston and is pretty relaxed, so I will be able to spend tons of time meeting bankers and discussing recruitment strategy. I have three questions.
1. If I take this internship, do I have a good shot at full-time recruiting with investment banks? Surely there will be a few banks with extra slots due to interns not getting offers or decisions to expand. I know "anything's possible" and there are always success stories but let's be realistic. I have a 3.5 GPA, a decent network of alumni/contacts and I will do everything I can to get in. I can't say much more about my qualifications without basically giving up my identity but I think my resume is a little bit more impressive than most kids with 3.5's from non-targets.
2. I still have some other possible opportunities and I have some time before I need to decide to accept or reject this offer. Of course I will much rather do this than nothing, and will be perfectly happy if I do have to take it. But would an internship with a local commercial bank be preferred to this for the purpose of getting into investment banking? Or are there any other last-minute options that would be preferable?
3. I can graduate a semeste early and hopefully get some kind of internship with a regional boutique investment bank lined up for the spring. FT recruiting is in August and I would try to get an offer for a spring internship during the summer, so I would just be telling recruiters about future experience that I am going to have before coming to work. How much would this help? Thanks.