Relocate for a Boutique Internship?

Water Cooler Careers
#1

I worked at a boutique consultancy for a couple of years after graduation but the firm’s partners just sold and I’m out of a job as of Friday.

My best option might to move to NYC (I’m currently in PA) and to intern at a boutique asset manager. One of the firm’s directors said they could take me and I’d be working on the credit desk.

Is it insane to consider switching cities for a boutique internship at my age (I’m 24)? I have enough savings + severance until December. I’m imagining it could be my last chance at a front office role. Since I’ve been trying to network my way into this line of work, I only landed one interview and didn’t receive an offer because the firm initiated a hiring freeze.

#2

So what front office roles are available in PA?

#3

Not a ton but there are a few AMs here. The interview that I landed was in NYC. Is it that difficult to get interviews when you’re out of state?

#4

for New York generally yes, they have plenty of eager candidates to choose from in NY.

#5

Not many good FO jobs in PA (there are a few) youd really have to move to NY at some point most likely. You are 24 and need the experience I assume, I would take it. Live in Jersey or queens somewhere if money is an issue you can get a room with a random for 900

#6

Why on earth would you not take this?

#7

Thanks for the input everyone.

The reason that I’m on the fence is because I’m scared of burning through savings for a few months and being unable to find full time work.

If I stay here in PA, I would be able to join a similar consulting firm to the one I was at previously. The stability of that is attractive—though I despise the work and each day it would feel more and more that I won’t ever be an investment professional.

#8

If you already despise the work you should move as soon as possible. The cost of living in New York is not bad as you think if you lived outside of Manhattan with another roommate and don’t drink/eat outside everyday.

#9

So looks like worse case is you go back to Philadelphia and do your old sort of job (sounds like you are confident in your ability to get that sort of position). But this NY thing is possibly your only chance to get a “front office” job. The risk is a paltry amount of money that amounts to only a few months of living costs*. Seems like potential return outweighs risk. You are not old at 24, and even if that was the case, you will be even older and less flexible next year.

*Ok, maybe I understate the risk at the zero savings boundary, since at that point, you will be forced to mooch off people or prostitute yourself. Still though.

#10

Is it intern-to-hire, how long is it? Yeah you should probably jump and then work hard in the internship hoping to go full time and spend some time every night sending out resumes to cover yourself. You’ll have a NY address which makes a difference and you can go from there.

#11

Thanks everyone. It’s a good point by ohai that the potential benefit outweighs the cost.

The job is not not necessarily intern-to-hire. The director told me that they are currently fully staffed and that nobody leaves this time of the year because bonuses are paid in q4. However, at the start of the year there is some turnover—this is when I would hope to join as an analyst full time. But as was suggested, I would continue to ping my network all the while now with the benefit of already living in NYC.

I am fortunate to have enough savings so that I can take a shot at this. im leaning towards going for it.