Internship Overview Post #1

This summer I had to make a tough decision deciding between two different internship opportunities I was offered.  The first was working for the digital banking team at PNC at their headquarters in Pittsburgh making a rather generous salary.  The second was an unpaid opportunity in NYC working at McQ Holdings, a boutique investment bank with only seven employees.  I ultimately accepted the position at McQ Holdings as summer investment banking analyst.

McQ Holdings is a unique investment firm that offers access to capital and investment opportunities through strategic partnerships in the public and private markets.  The firm has a global network of 150 Family Offices for which it makes direct proprietary investments.  The founder and managing partner is Mark Sanor a 1993 graduate from the Michigan Law School.

Why I choose an unpaid internship at a small company over a well paid offer at a well respected corporation?

  1. The position I was offered at PNC was more directed towards programming and software development while my position McQ was focused more on finance, private equity, and investment banking.
  2. I like the idea of working at a large corporation after school, however I felt for an internship I would gain more exposure and attention at a smaller company.
    • At McQ Holdings there are seven total employees.  Everyday I worked alongside my boss, the founder of the firm.  He would bring me along to his meetings, I would sit in on his phone calls, and the other full time analyst was able to guide me through the work he was completing each day.
  3. I live 20 minutes away from NYC in New Jersey and have always had aspirations to work in New York for a well known bank down on Wall Street.  This summer I got the full experience of working in the big apple from navigating the subways to taking clients out for lunch and drinks.  I also was to see my family this summer by living home and commuting in by train each day.
  4. Working in the world of finance who you know is almost as important as what you know.  As I mentioned my boss was a graduate from the Michigan Law School and was looking to hire a student from UM for this summer.  Working alongside him, I now have a contact list of over 200 Michigan graduates connected to the finance world working in NYC.

What were my duties this summer?

  • As an investment banking summer analyst I was given a few of the firms current projects to really learn and focus on.
    • For these specific opportunities I would need to conduct research on the market, industry, possible competitors and other aspects to determine if the opportunity was going to be a profitable investment.
  • I was in charge of making powerpoint presentations, pitch books, and teasers for various opportunities that came in during my time.
  • Research related companies, private equity firms, venture capital funds, or other possible entities that would be interested in investing or purchasing one of our opportunities.
  • Coordinated meetings and scheduled lunches and drinks with investors and Michigan alumni tied to finance in NYC in hopes to gain new connections.

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