Stormharmony

For the coming summer, how would you choose between an internship at an investment bank (or related division, e.g. Private banking/Private Wealth Management) and at a foreign Chamber of Commerce abroad (e.g. Italian Chamber of Commerce of Shanghai)?

I'm in my penultimate undergrad year. My career aims are to complete my undergrad studies and first do a Master before entering the banking industry

I currently think...

Investment Bank summer internship
- good brand name on the CV
- real experience in the industry with networking
- developing specific skills of the job
- and again, brand name! "Macquarie" or "Lehman Brothers" probably sounds better than "Chamber of Commerce"

foreign Chamber of Commerce abroad
- new international experience to mention on CV
- leverage and improvement of language skills
- networking with diverse industrial and business partners
- experiencing markets with own eyes rather than through financial statements

What would you advise?

Thank you

Johnny H

Like all answers, it depends and comes down to what you hope to accomplish.

First, make sure to note the difference between I-banking and private banking - it is very different. If you desire to work full-time at one of these firms, then a summer internship is a valuable key to the door. And working in one division does not necessarily boost your chances to work in another (i.e. going from private banking to I-banking)


If you are aiming for a more international career in the long-term, then you'd want to consider the second option. Since I don't know much about this abroad position, you should consider all the aspects on how you think it should help you.

That being said, name recognition does help when it comes to people scanning your resume. But it really depends on what you hope to gain in the end. If it is to strictly (or mostly) to get a banking job, then the first option is likely the better one.

Stormharmony

Hi Johnny H, Thank you very much for replying.

You said that "working in one division does not necessarily boost your chances to work in another (i.e. going from private banking to I-banking)".

This is also something I'm considering. The problem is that at the moment I'm a bit under-qualified to apply for the strictly IB divisions (due to my course program, registered grades, etc.), which is why I'm at least trying to get a good name at a less difficult division.

Don't you think a division like Private Banking would still expose me to the work environment, contacts, and in general the mechanisms of the banking industry?

That said, yes, I do strive for an international career in the long-term... but within banking. I'm trying to figure out whether I could do the Chamber of Commerce program now, and later apply for a higher stage internship in banking (e.g. graduate analyst internships).

Would my chances at getting accepted at a higher stage banking internship be hampered if I didn't do Private Banking/PWM now?

Thanks