Quote:
Originally Posted by yourplaceormine
Hi everyone,
I'm in my 2nd year in uni, and i'm currently looking out for a finance related summer internship, however I still don't know what kind of role I am really interested in, nor do I have much knowledge about the various fields in the industry.
Other than IB, what would be the next best option in finance? As of now, I am pretty keen on private banking, so where should I try interning at? The major banks probably won't hire a 2nd year, so would i stand a chance at the boutique banks?
Also, apart from IB, what other fields in finance would make breaking into private equity or venture capital more possible?
On a side note, I have a internship offer at a company mainly dealing with insurance, and although the internship is supposedly in wealth management, I have my doubts as this is not an internship at a bank, but rather an insurance company. Could anyone shed some light on the difference, if any, on WM at an insurance company and at a bank?
Thank you.
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Given your knowledge of the industry and your current position, getting into IB/PE/VC is highly unlikely for you. The IB/PE industry in Singapore isn't as developed and getting into them without experience is pretty much impossible.
There are thousands, yes thousands, of undergrads out there who are working harder than you to find out what and where they should be interning at. Boutique private banks typically don't hire people without a book. Competition at bulge bracket level is insane to say the least, just do a linkedin search and see who you're competing against. I'm not trying to downplay you but looking at the amount of effort you're putting in to know the industry, you probably don't stand much of a chance. Well, that is unless you can get your parents/relatives to bring in a more than a couple of millions.
As for wealth management in insurance companies, you're typically looking at endowment plans/ILPs for individuals/pension plans.
Goodluck nevertheless.