Pros
I was hired for the generic operations intern role, after supporting for a few days in accounting (I am doing a Finance Master's and they were doing their end of year closing), I joined the sourcing team. Initially, in a supporting role to the FT employees, then later I was doing the same work and having the same responsibility as the FT employees, I even got a bonus, which was nice and unexpected for an internship.
Great manager in the sourcing team, worked with him daily, he was 2 years older than me, but from his experience and skills it felt like he had 12 years of work experience, and the new operations team lead was a former MBB consultant, I got to work on some projects with him. The managing directors both have a lot of experience. One day, the LP of one of the investors gave a speech.
I referred a friend from uni, who will start in a few months, and I’ll get a referral fee.
Cons
Pizza with the entire team only once a month. Long working hours (similar hours to an investment banking internship I did), but worth it for the learning curve.