Big 4 Audit internship, Full-time Investment Banking question

Hello all,

Here is my question: is an IB internship required before going full-time?

In a year I will graduate with a masters in accounting from McCombs and will have done two accounting internships (Audit with PwC and corporate accounting with the Federal Reserve). I am looking to do tech M&A in San Francisco and was wondering if I will likely have to intern as opposed to going full time in banking, or if people go full time with accounting experience as opposed to banking.

Any help is much appreciated

 

Congrats on the internship! Not sure how the audit programs are run but try to do as much as possible with your team while networking for IB throughout the internship. Keep in contact with those who interviewed you and keep stating your interest in the industry.

For the lead! Sipag, tiyaga, at lakas ng loob!
 

Don't leave it off your resume if that leaves you with a summer unaccounted for.

I understand your point, but I wouldn't take it off - I would just twist the facts here and there and make it look like you interned in the audit dept. but wound up working on a project that was more TS related and that you really liked it and got to work with that group a lot, thus the reason you came back and did a TS internship.

Hmm......

 
above_and_beyond:
I don't want to be too impatient or pushy, but I would love to hear some other opinions on this question as well. Are two Big4 internships too much for IBD recruiting? Will they reject me because I'm to much of "Big4 material"?
There is -always- a way to spin things to appeal to banking. On your resume, emphasize the banking-transferrable skills you learned on the job with the Big4 firm. During interviews, really play up the fact that you had a great experience (because of reasons ABC like teamwork, taking responsibility of your own projects, blah blah) but you want to switch into banking because of reasons XYZ (bigger scope, more tnx experience, more impact/value-adding, whatever you think sounds good). Even if they were too much for IBD recruiting (they're not), not like you can do anything about it now, right? Just take what you got and run with it!
Currently: future neurologist, current psychotherapist Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)
 

Dude, here is what i would do: go to linkedin, go to the target company profiles. then see where most of the employees come from. I did this for PE and i discovered that actually lots of ppl come either from e&y or from pwc.

I was already so far beyond the point of no return that I couldn't remember what it had looked like when I had passed it.
 

Definitely leave it on. When I interviewed at GS IBD last month one of my interviewers (2nd year associate) came from 7 years at PwC advisory. A lot of people go from Big4 to ibanking, and even more go into the general banking industry. Does Big4 look better than a BB/MM internship? No. Does it look a hell of a lot better than most other internships? Definitely.

Edit: also, I agree with one of the above posters who said tailor your resume description of the job to finance. In transaction services you're definitely going to learn a lot that is relevant to banking - emphasize that on your resume and leave out the irrelevant stuff.

 

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